Industry News

Two Component Adhesive Market to Reach USD 6.23 Billion 2020: M&M

Published on 2016-03-03. Author : SpecialChem

The report "Two Component Adhesive Market by Resin Type (Polyurethane, Epoxy, MMA, Silicone, and Others), by Application (Automotive, Construction, Electronics, Aerospace, and Others) and by Region (North America, Europe, Asia-Pacific, and RoW - Global Forecast to 2020", The two component adhesive market size is estimated to grow from USD 4.55 Billion in 2015 to USD 6.23 Billion by 2020, registering a CAGR of 6.5%.

Fig. 1: MarketsandMarkets

The market is driven by rising use of adhesives in vehicles for weight reduction. As the automotive industry uses lightweight materials such as plastics, composites, aluminum, and other lightweight materials which ultimately demand better adhesive material for bonding. So, it is a prime factor for the growth of two component adhesives, globally. Among all regions considered, Asia-Pacific and RoW are estimated to witness high growth in the next five years. Also, the demand in these regions is reinforced by the emerging markets, namely, China, Brazil, and India.

Automotive the largest application of the two component adhesive market.

Two component adhesives are used in various applications such as automotive, construction, electronics, aerospace, and others. These are also the main applications considered in the report. In 2015, the automotive application segment is estimated to account for the largest market share among all the applications, in terms of volume.It is estimated to witness the highest CAGR between 2015 and 2020 among all the applications considered, followed by construction, electronics, and aerospace.

Rising demand from Asia-Pacific is the major driver for two component adhesive market

In 2015, Asia-Pacific is estimated to account for the largest market share, in terms of volume, and is projected to register the highest CAGR between 2015 and 2020. The high demand in Asia-Pacific is the major driver for the two component adhesives market. The demand for adhesives is high in China due to increased production of vehicles in the last 2–3 years. It is also the largest consumer of two component adhesives, globally. Other emerging economies such as India, Malaysia, Thailand, and other Asian countries are expected to witness high demand of two component adhesives.

The scope of the report covers detailed information regarding the major factors influencing the growth of the two component adhesives market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.

About MarketsandMarkets

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. MarketsandMarkets specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.M&M's 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in its reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

Source: MarketsandMarkets

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