Composite Adhesives Market Size

Composite Adhesives Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

By the year 2023, the composites adhesives market is expected to reach $ 3.38 billion, and it is expected to reach $ 4.92 billion by the year 2030, at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The steady increase in demand for composites adhesives is driven by the widespread use of composites in the aviation, construction, automobile and electronics industries. The need for lightweight and high-strength materials in these industries is also a major factor in the growth of the composites adhesives market. Further, technological developments such as the development of eco-friendly and advanced bonding methods are also driving market growth. The companies are increasingly focusing on the development of low-VOC and bio-based adhesives. These are the key trends that are driving the composites adhesives market. The key players in the composites adhesives market, such as 3M, Henkel and Huntsman, are actively involved in strategic initiatives such as product launches and strategic alliances in order to increase their market share and meet the evolving needs of consumers. For example, recent collaborations to develop advanced composites solutions for the aero industry are a good example of the commitment of the industry to innovation and sustainable development.

Regional Market Size

Regional Deep Dive

The composites adhesives market is experiencing a significant growth across various regions, driven by the increasing demand in the automotive, aviation, and construction industries. North America is characterised by advanced manufacturing and innovation, while Europe is seeing a shift towards more sustainable composites. The Asia-Pacific region is growing rapidly, mainly due to increasing industrialization and urbanization. The Middle East and Africa are growing due to the construction of new roads and airports. Latin America, although smaller, is gradually adopting composites adhesives as its industries modernize and look for more efficient joining solutions.

North America

• The United States is at the forefront of this field, largely because of the large amounts of money that have been invested in research and development, particularly in the field of adhesives, notably in the aeronautics industry.
• Regulations relating to the emissions of VOCs are pushing manufacturers to formulate their products in an environmentally friendly way. This is in line with the general trend towards the greening of products.
• The demand for composites is growing in the automobile industry, which is shifting to lightweight materials.

Europe

• Besides, the stricter European Union regulations on the use of chemicals and the environment have forced manufacturers to come up with products that are biodegradable and have low emissions.
• Sika AG and Huntsman are investing in sustainable glues to meet the demand for greener products.
• In Europe the rise of electric vehicles is bringing new opportunities for composites. These vehicles require lightweight materials for improved efficiency.

Asia-Pacific

• In countries such as China and India, rapid industrialization is driving the demand for composites, especially in the construction and automobile industries.
• Local manufacturers are more and more concentrating on developing cost-effective adhesives. Fuller is expanding its presence in the region.
• Government initiatives aimed at developing the country’s infrastructural network are expected to further increase the demand for composites in the construction industry.

MEA

• In the United Arab Emirates and Saudi Arabia, construction projects are increasing and this is driving the demand for high-performance composites.
• Building regulations are evolving in favour of the use of advanced materials, and the adoption of sustainable building practices.
• Local companies have teamed up with foreign ones to supply composites to a growing market.

Latin America

• The region, with the modernization of its industries, is gradually acquiring a taste for composites, especially in the field of construction and automobiles.
• In recent years, government programs have led to a new demand for the supply of new bonding solutions.
• Local players are working on products that are adapted to the specific climatic and economic conditions of Latin America.

Did You Know?

“The adhesives of the composite type can be used to bind materials which have different coefficients of expansion. They are therefore suited to the aeronautical and automobile industries where temperature changes are frequent.” — Adhesives & Sealants Industry Magazine

Segmental Market Size

The composite adhesives market is currently growing steadily. The increasing demand for composites in various industries such as automobiles, aeronautics, and construction is driving the growth of this market. The use of lightweight materials to improve fuel economy and performance, and the implementation of strict regulations promoting the use of environment-friendly adhesives, are also contributing to the growth of the composites adhesives market. In addition, the technological improvements in adhesive formulations, which allow a better bonding and a longer-lasting adhesion, are playing a key role.

The use of composites is at the present time at the stage of large-scale application, with 3M and Henkel leading the way in the development of new applications. The most important countries are North America and Europe, where these composites are used in the manufacture of automobiles and aeronautical parts. In these two industries, the principal applications are the bonding of composite materials in automobile manufacture and the structural application of composite materials in aircraft construction. The development of new materials, in particular in the field of smart and smart materials, and the use of nano-materials, are expected to bring about further growth.

Future Outlook

The composites adhesives market is set to grow at a significant CAGR of 5.6% from 2023 to 2030. The demand for composites is driven by the increasing demand for lightweight and high-performance materials in various industries such as the automotive, aerospace and construction industries. The increasing trend towards the use of composite materials and the growing emphasis on the use of sustainable and cost-effective products are also driving the demand for composites and the use of special adhesives. In the case of the composites industry, the penetration of composites adhesives in these sectors is expected to reach around 25% of the total adhesives market by 2030, highlighting the importance of these special adhesives in modern manufacturing processes.

In the market for adhesives and sealants, the development of new products such as bio-based and environment-friendly glues will continue to drive the market. Regulations aimed at reducing the carbon footprint and improving the safety of products will also play an important role in shaping the market. Furthermore, the trend towards automation and smart manufacturing will increase the demand for high-performance glues that can withstand the tough production environment. As companies continue to invest in R & D to develop new products and improve the quality of the adhesives, the market for composite adhesives will continue to develop, offering new opportunities for companies and driving the market growth.