Market Trends of Moisture Curing Adhesive Industry
This section covers the major market trends shaping the Moisture Curing Adhesive Market according to our research experts:
Growing Demand from the Building & Construction Sector
- Moisture curing adhesives are used in building & construction applications and are expected to be the fastest-growing market during the forecast period.
- Moisture curing adhesives often cure by the polymer cross-linking process when they contact with water or humid air. Adhesives often contain isocyanates for crosslinking and silanes as the reactive component. After curing they exhibit superior bond strength and resistance to heat, chemicals, and moisture. Polyurethanes are the most widely used moisture curing adhesives because of solvent-free moisture curing and no VOC's (volatile organic compounds) content.
- In the construction industry, moisture curing adhesives are mainly used for roofing, insulation, and flooring applications. They provide more adhesion when compared to any other compounds.
- Moisture curing adhesives are used for bonding wood, metal, ceramics, plastics, stone, glass, and other porous as well as non-porous materials in the construction industry. In developed economies like Europe and America, the rise in demand for remodeling service along with the growing infrastructure investments is expected to drive the market. Whereas in the residential sector, the growth is driven by the increase in urbanization to meet the needs of the growing population.
- The market growth of moisture curing adhesives is fueled by the growing construction industry during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for moisture curing adhesives during the forecast period as a result of the increase in demand from the construction industry in countries like India and China.
- The growing investments in infrastructure projects from countries like China and India are expected to drive the market. According to the National Development and Reform Commission, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019 which are estimated to be completed by 2023. Moreover, the Indian government has allocated USD 63 billion for the infrastructure sector in 2019-20 and is planning to spend USD 1.4 trillion over the next five years. The development of smart cities and other schemes like 'housing for all' are expected to increase the demand for moisture curing adhesives in the construction industry.
- Moisture curing adhesives are used in solid wood plank and engineered wood applications in commercial and residential sectors. They provide excellent bond strength and long working time. The growing furniture industry and wooden flooring are expected to drive the market. As per the world bank report, the Indian furniture industry is expected to cross USD 32 billion by 2019 and is estimated to have a growth of 20% per annum over the next few years.
- The aforementioned factors coupled with government support are contributing to the increasing demand for moisture curing adhesive market in the Asia-Pacific region during the forecast period.
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