Global High Performance Adhesives Market to Expand with a CAGR of 5.7% due to Growing Adoption of Lightweight Material in Numerous Industries

12/17/2018, 2:09 PM (Source: GlobeNewswire)

Albany, New York, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) witnesses the global high-performance adhesives market has a highly competitive vendor landscape. Thanks to numerous players, which are trying to improve the product and offer innovations in the existing products. Some of the prominent players operating in the global high performance adhesives market are Henkel AG, 3M, Bostik, HB Fuller, Avery Dennison, and Pidilite.

According to the report from TMR, the global retort pouches market registered revenue of US$ 9,362 mn in 2017 and is expected to expand with a CAGR of 5.7% over the estimated period.

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Based on the end-use industries, the aerospace segment dominated the global high performance adhesives market. Based on the product type, the epoxy segment is dominating the global high-performance adhesives market. Based on the region, the Asia Pacific region is expected to dominate the global high-performance adhesives market and likely to remain dominant over the forecast period.

Demand for Light Weight Material to Propel Growth of the Market

The global high performance adhesives market is gaining traction due to the high demand for the usage of lightweight adhesives across the numerous industries. High-performance adhesives possess certain chemical, physical, and mechanical properties such as high temperature and moisture resistance, high elasticity, and less curing duration, which makes them suitable to be used in medical, automotive, and aerospace applications. This is a key factor in boosting demand for the high performance adhesives and likely to bolster the growth of the high performance adhesives market.

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Additionally, the booming automotive sector globally and especially in the developing countries owing to its lightweight and in order to lower emission of carbon dioxide is boosting the growth of the global high performance adhesives market. To achieve this and lowering emission, numerous governments have imposed some stringent regulations which are propelling adoption of high-performance adhesives and likely to boost the growth of the global high-performance adhesives market.

Furthermore, high-performance adhesives help in reducing carbon dioxide emission and which provide structural strength and links together in a vehicle, which improves the performance of adhesives. These factors are fuelling the growth of the global high-performance adhesives market.

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Widening Applications to Propel Growth of Market

Widening applications of high-performance adhesives are boosting the growth of the global high-performance adhesives market. Additionally, the epoxy segment is expected to dominate the high-performance adhesives market owing to its high properties such as compatibility and usage across end-user industries is propelling the growth of the global high performance adhesives market.  

However, epoxy adhesives are generally solvent-based which are responsible for the emission of the volatile organic compound (VOCs) that lead to an increase in indoor pollution. Due to growing awareness about the environment is leading to hampering adoption of high-performance adhesives and likely to restrain the growth of the market. Nonetheless, the companies are trying to improve the product is offering lucrative opportunities for growth over the forecast period.

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This information is encompassed in the new report by TMR, titled “High Performance Adhesives Market (Type - Epoxy, Silicone, Polyurethane, Acrylic; Formulation Technology - Solvent based, Water-based, Hot Melt, UV-curable; End use - Automotive, Electronics, Packaging, Medical, Construction, Aerospace, Others (Marine and Leather & Footwear)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”            

For the study, the high performance adhesives market has been segmented as follows:

By Type

  • Epoxy
  • Silicone
  • Polyurethane
  • Acrylic

By Formulation Technology

  • Solvent based
  • Water-based
  • Hot Melt
  • UV-curable

By End use

  • Automotive
  • Electronics
  • Packaging
  • Medical
  • Construction
  • Aerospace
  • Others
    • Marine
    • Leather & Footwear

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