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Composite Adhesives Market Size (2024 - 2029)

The composite adhesives market is anticipated to experience significant growth, driven by the rising preference for adhesives over traditional binding methods across various sectors. This expansion is particularly notable in industries such as construction, automotive, and transportation, where there is a demand for lightweight components with high mechanical strength. The epoxy resin type is projected to lead the market during the forecast period. The Asia-Pacific region is expected to emerge as the largest and fastest-growing area, fueled by increased consumption in countries like China, India, and Japan. However, the market's growth is somewhat constrained by a slowdown in global automotive production.

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Market Size of Composite Adhesives Industry

Composite Adhesives - Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 4.43 Billion
Market Size (2029) USD 5.96 Billion
CAGR (2024 - 2029) 6.12 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Composite Adhesives Market Major Players

*Disclaimer: Major Players sorted in no particular order

Composite Adhesives Market Analysis

The Composite Adhesives Market size is estimated at USD 4.43 billion in 2024, and is expected to reach USD 5.96 billion by 2029, growing at a CAGR of 6.12% during the forecast period (2024-2029).

The COVID-19 epidemic had a negative impact on the composite adhesives market. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. However, the business has been recovering since 2021 and is expected to rise significantly in the coming years.

  • The growth of the market is due to the increasing demand for adhesives over conventional binding techniques in various end-user industries.
  • On the flip side, the slowdown in global automotive production is hindering the growth of the market.
  • In the construction, automotive, and transportation industries, there is a growing demand for lightweight components with high mechanical strength. Composite adhesives have emerged as a pivotal solution to this demand. The surge in demand for green and sustainable adhesives is expected to provide substantial growth opportunities in the future.
  • Asia-Pacific is projected to be the largest and the fastest-growing market owing to the increasing consumption from major countries such as China, India, and Japan.

Composite Adhesives Industry Segmentation

These are high-performance adhesives for the assembly of composite products. Modern adhesive formulations offer cutting-edge solutions for bonding fiber composites to various substrates. These versatile adhesives come in liquid, paste, and film forms, catering to the diverse needs of composite bonding. Crafted for superior mechanical strength, they excel even in extreme conditions.

The composite adhesives market is segmented by resin type, end-user industry, and geography. By resin type, the market is segmented into epoxy, polyurethane, acrylic, cyanoacrylate, and other resin types. By end-user industry, the market is segmented into building and construction, electrical and electronics, energy, automotive and transportation, healthcare, and other end-user industries. The report also covers the market size and forecasts for the composite adhesives market for 27 major countries. For each segment, the market sizing and forecasts are done in terms of value (USD).

Resin Type
Epoxy
Polyurethane
Acrylic
Cyanoacrylate
Other Resin Types
End-user Industry
Building and Construction
Electrical and Electronics
Energy
Automotive and Transportation
Healthcare
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
United Arab Emirates
Rest of Middle East and Africa
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Composite Adhesives Market Size Summary

The composite adhesives market is poised for significant growth, driven by the increasing preference for adhesives over traditional binding methods across various industries. This shift is particularly evident in the construction, automotive, and transportation sectors, where the demand for lightweight components with high mechanical strength is paramount. Epoxy resin-based adhesives are expected to lead the market due to their superior specific strength and mechanical properties, making them ideal for load-bearing applications. These adhesives are extensively utilized in industrial, commercial, residential, and public infrastructure projects, bonding materials such as concrete, wood, metal, and rubber. The market's expansion is, however, tempered by the slowdown in global automotive production, which poses a challenge to growth.

The Asia-Pacific region is anticipated to be the largest and fastest-growing market for composite adhesives, fueled by rising demand from the electronics, construction, and automotive industries in countries like China, India, and Japan. The region's robust electronics market and consistent construction activity, despite some fluctuations, contribute to this growth trajectory. Government initiatives, such as India's smart cities plan, further bolster the demand for composite adhesives. However, the automotive sector's downturn in China and India has slightly impacted market growth. The market remains partially fragmented, with key players including 3M, Arkema Group, H.B. Fuller Company, Sika AG, and Henkel AG & Co. KGaA, who are instrumental in shaping the competitive landscape.

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Composite Adhesives Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Adhesives over Conventional Binding Techniques

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Slowdown in Global Automotive Production

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Polyurethane

      3. 2.1.3 Acrylic

      4. 2.1.4 Cyanoacrylate

      5. 2.1.5 Other Resin Types

    2. 2.2 End-user Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 Electrical and Electronics

      3. 2.2.3 Energy

      4. 2.2.4 Automotive and Transportation

      5. 2.2.5 Healthcare

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 NORDIC Countries

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Russia

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Nigeria

        4. 2.3.5.4 Qatar

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 United Arab Emirates

        7. 2.3.5.7 Rest of Middle East and Africa

Composite Adhesives Market Size FAQs

The Composite Adhesives Market size is expected to reach USD 4.43 billion in 2024 and grow at a CAGR of 6.12% to reach USD 5.96 billion by 2029.

In 2024, the Composite Adhesives Market size is expected to reach USD 4.43 billion.

Composite Adhesives Market Report Snapshots

Composite Adhesives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)