11 June 2019, Global moisture curing adhesives market is estimated to grow at a significant CAGR of 7.41% over
the forecast period as the scope and its applications are rising enormously
across the globe. Moisture curing adhesives are the viscous adhesives that
comprise non-volatile urethane prepolymers and requires moisture to trigger the
curing reaction. They can be used interchangeably with paste, glue, or cement
to resist their separation. The adhesive molecules are cross-linked in the
curing process to form a strong adhesive joint. Generally, these adhesives are
known to provide high strength and are flexible to rigid bond lines as they are
resistant to many chemicals, humidity, and temperature.
The factors that are playing a major role in the growth of the market are
the high demand from woodworking and construction industry, superior properties
over conventional adhesives, and rising demand for automobiles. However, the
presence of alternatives and it requires high curing time are the factors that
may restrain overall market growth in the years to come. Moisture curing
adhesives market is segmented based on chemistry, application, and region.
Based on chemistry, polyolefin, polyurethane,
cyanoacrylate, and silicone could classify moisture-curing adhesives in the
forecast period. Polyurethane chemistry sector accounted for the substantial
market share of moisture curing adhesives and is estimated to lead the overall
market in the years to come.
The market may be categorized based on applications like
textiles, construction, woodworking, automotive, and others that could be
explored in the forecast period. The automotive sector accounted for the
significant market share of moisture curing adhesives and is estimated to
continue its dominance in the years to come. The reason could be the rising
demand for lightweight materials in automobiles, developing automobile
industry, and rising disposable income. In addition, the construction sector is
estimated to grow at the fastest pace in the years to come.
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Globally, Europe accounted for the substantial market
share of moisture curing adhesives and is estimated to lead the overall market
in the years to come. The reason behind the overall market growth could be the
presence of key manufacturers in this region, the growing demand for lightweight
vehicles, growing investments in infrastructure development, and retrieval in
the construction sector.
North America and the Asia Pacific are also estimated to
have a positive influence on future growth. North America is the second largest
region with significant market share. In terms of volume and value, Asia
Pacific is estimated to grow at the highest CAGR in the forecast period. The
aspects that may be ascribed to the growth comprise government favorable
policies and developing infrastructure and industrialization. The developing
countries like India and China are the major consumers of moisture curing
adhesives in this region.
The key players of moisture curing adhesives market are
Jowat SE, Henkel AG & Co. KGaA, Dow Corning Corporation, H.B. Fuller,
Bostik SA, 3M Company, Illinois Tool Works Inc., Sika AG, The Dow Chemical
Company, and Royal Adhesives & Sealants, LLC. These players are
concentrating on inorganic growth to sustain themselves amidst fierce
competition.
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