Composite Adhesives Market Trends

Navigating the Composite Adhesives Market Landscape

By 2023, the global composite adhesives market is expected to reach $36 billion, growing at a CAGR of 7.8 percent during the forecast period. The performance of composite adhesives has been greatly enhanced by the innovations in formulations and application methods. Meanwhile, the tightening of the environment regulations has prompted the development of greener adhesives to meet the increasing demand for sustainable products. Also, the shift in the consumers’ preference for lightweight and high-performance materials has pushed the composite adhesives market. These trends are important for the industry players to understand. Not only will they affect their product development and market positioning, but also their strategic investment and partnership decisions in the increasingly competitive landscape.

Top Trends

1. Sustainability Initiatives
   The growing trend towards products of a more natural nature is reshaping the composite adhesives market. The trend towards the development of bio-based adhesives is being led by Henkel. As a result of a growing awareness of sustainable development, governments are incentivizing the use of low-VOC products by introducing regulations that favour the use of low-VOC adhesives. This is expected to lead to a growing focus on “green chemistry” and to the development of new formulations that meet the strictest of standards.
2. Technological Advancements
   Advances in adhesives, such as the development of high-performance epoxy resins, have greatly improved the quality of the product. Companies like 3M have invested heavily in research and development to create products with high bonding strength and long life. This development will lead to increased efficiency in the production process, with faster production and less waste.
3. Increased Demand in Automotive Sector
   The auto industry has been progressively adopting composites to reduce weight and improve fuel economy. The use of these new glues is increasing and has increased by 20 per cent over the past year. This will lead to a strong growth in the market as the industry seeks to meet stricter emissions standards.
4. Expansion in Aerospace Applications
   The use of composite adhesives in the aircraft industry is gaining ground, as these have the advantages of light weight and strong bonding. The development of special adhesives for aircraft building by companies such as Sika AG is of critical importance for safety and performance. The trend is expected to continue as the focus of the aircraft industry on fuel efficiency and sustainability increases the demand for materials.
5. Growth in Construction Industry
   A growing tendency is being seen in the use of bonded joints in structural applications, the need for durable and economical building materials being responsible for this. In the last year the use of adhesives in building has increased by 15 per cent. The trend is expected to continue, as builders seek to increase energy efficiency and reduce the time taken in erecting a building.
6. Customization and Tailored Solutions
   Customized adhesives are increasingly in demand and companies like the Lord Corporation offer bespoke formulations. The trend is a result of the need for specialized performance characteristics in different industries. As the trend for customized products increases, so does the likelihood of customer satisfaction and loyalty.
7. Regulatory Compliance and Safety Standards
   The market for composites is characterized by stringent regulations with regard to chemical safety and the environment. Companies are investing in compliance with these standards, with a notable increase in the certification of low-emission products. This trend will stimulate innovation, as manufacturers seek to develop compliant products that do not compromise performance.
8. Digital Transformation in Manufacturing
   The use of digital technology in manufacturing processes is revolutionizing the production of composite materials. Industry 4.0 practices are bringing improved efficiency and lower operating costs. The supply chain will be better managed and traceability of products will be increased, which will ultimately benefit the end-user.
9. Emerging Markets and Global Expansion
   Among the regions where the composites market is gaining importance is Asia-Pacific. The rising industrialization and the development of the construction industry are causing companies to set up shop in the region. This will create new opportunities for the players in the market, but also intensify competition.
10. Focus on Performance and Durability
    The performance and the long-term reliability of composites are being put under the spotlight. The manufacturers are developing products that can withstand extreme conditions. Testing is extensive to ensure that the products are reliable, which is of the utmost importance for the aircraft and automobile industries. This trend is expected to lead to higher standards in product development and in the expectations of the customer.

Conclusion: Navigating the Composite Adhesives Landscape

Competition in the global composites adhesives market is fragmented in 2023, with a large number of legacy and new players vying for market share. Regional trends are indicating a shift towards innovation and green products, which is affecting the strategies of the players. The players are competing mainly on the basis of their brand, while new entrants are relying on new technology, such as artificial intelligence, automation, and flexibility, to differentiate themselves. In the future, the ability to combine sustainable development with new technology will be a decisive factor in market leadership. The decision-makers will therefore have to prioritise these capabilities in order to remain competitive and to be able to respond to changing customer needs.