Moisture curing adhesive manufacturers are leveraging the demand for lightweight automobiles, without having to compromise on structural integrity.
DUBAI, UAE / ACCESSWIRE / January 13, 2021 / Fact.MR: The global moisture curing adhesives market is projected to reflect upwards growth trajectory with a 6% CAGR reaching a US$ 5 billion in 2020. Applications in automotive and construction sectors continue to be key demand generators.
According to Fact.MR's report, the ability of moisture curing adhesives to adhere to multiple substrates widens the scope of use in many end-use industries. However, restrictions on end user industries during the pandemic is likely to hinder short term growth.
"Polyurethane adhesives are the most extensively used type of moisture curing adhesives, which can be largely attributed to its solvent-free nature and lack of VOC's in its formulations," says the Fact.MR analyst.
Moisture Curing Adhesives Market- Key Takeaways
- Polyurethane moisture curing adhesives hold leading market share owing to cost benefits and wider scope of application.
- Automotive sector applications are key to revenue generation owing to widespread adoption by Auto OEMs.
- Asia Pacific is leading regional market driven by growth in automotive sales and construction projects.
Moisture Curing Adhesives Market - Driving Factors
- Use of moisture curing adhesives for myriad substrates including textile, automotive, and wood among others is a key driver.
- Superior bond strength and resistance to moisture heat and chemicals will create opportunities in the industry.
Moisture Curing Adhesives Market- Major Restraints
Strict regulations associated with the use of urethane in adhesive formulations is a major challenge to market players.
- Competition from alternatives including cement, glues, and paste are holding back growth prospects.
COVID-19 Impact on Moisture Curing Adhesives Market
The moisture curing adhesives market has been adversely affected by the Covid-19 pandemic, which can be attributed to restrictions on the global construction and automotive sectors in lockdown period. However, manufacturers can find opportunities in the medical devices sector, with niche applications in critical healthcare processes.
While short-term demand will be affected, the market is likely to display steady recovery towards 2021. Superior environmental resistance and the initiatives to restart manufacturing activities will aid growth.
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Competitive Landscape
3M Company, Avery Dennison, Henkel AG & Co. KGaA, Apollo Chemicals Ltd., Dymax Corp, The Dow Chemical Company, Advatac Ltd., Delo Industrial AdhesivesLLC, Daubert Chemical Co., and Master Bond Inc. are some of the leading moisture curing adhesives manufacturers in the global market.
Moisture curing adhesives market players have been largely focused on the development and launch strategies to expand product portfolios and to keep up in a mostly fragmented market.
For instance, In December 2020, Chemique Adhesives announced the launch of its moisture curing Massetak Adhesive and Sealant range for DIY project applications. In July 2020, Hexion Inc. in collaboration with D&R Dispersions and Resins have unveiled VeoVa Silane resins for marine and wood coating applications. In March 2020, Bona launched Bona Quantum a moisture curing silane-based adhesive, which is used for wood floor installation.
About the Report
This study offers readers a comprehensive market forecast of the moisture curing adhesives market. Global, regional and country-level analysis of the top industry trends impacting the moisture curing adhesives market is covered in this Fact.MR study. The report offers insights on the moisture curing adhesives market on the basis of composition (silicone, polyolefin, cyanoacrylate, and polyurethane), and end use industry (automotive, construction, textiles, wood working, and others), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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About Fact.MR
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SOURCE: FactMR