(I-BusinessNews.Com, June 26, 2021 ) Moisture Curing Adhesives Market size is forecast to reach $17.02 billion by 2026, after growing at a CAGR of 7.2% during 2021-2026. Construction activities and the need in the automotive industry are the main factors that are expected to drive demand. The segment is expected to report major additions due to the expanded supply base, primarily in Mexico. The rise in the portion of the building is likely to substantially improve demand.
Moisture Curing Adhesives Market Segment Analysis – By Type
Polyurethane held the largest share in the Moisture Curing Adhesives market in 2020. Polyurethane under heavy load experiences a shift in shape, then returns to its usual shape when the load is removed. Polyurethane load-bearing glulam technology is used in the building industry. The silicone family includes siloxanes and silane, and the moisture-curing silicones are based on chemical reactions with water. These materials crosslink at room temperature by interacting with ambient moisture and are absorbed on the surface. On account of this it comes with the benefit of resistance to weathering. Polyurethane also has a high load-bearing capacity. The compound faces a change of form under heavy processing. However, it returns to its original shape after the load has been removed.
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Moisture Curing Adhesives Market Segment Analysis – By Application
Insulation Panels has been the primary market for Moisture Curing Adhesives in 2020. Moisture Curing Adhesives in insulation panels offers exceptional strength. The insulation material allows the rapid increase of temperature in heated rooms. At the same time, it prevents the building from cooling down and helps to keep the constant temperature. This will minimize the amount of heating and cooling equipment required to keep the house comfortable. Because of this, home insulation would minimize energy bills and cooling costs, and heating. Isolation provides a sound barrier, keeping intrusive sounds out and preserving privacy by keeping the sounds inside from being audible outside. Isolating the home also creates a moisture barrier, keeps unwanted moisture away and offers a very comfortable living environment inside.
Moisture Curing Adhesives Market Segment Analysis – By End Use Industry
Building & construction industry has been the primary market for Moisture Curing Adhesives in 2020 growing at a CAGR of 10%. Over the period 2013 to 2018, M&A activity in the construction sector steadily increased up to 484 deals recorded in 2018, up from 273 deals recorded in 2013. North America, Europe and Asia are the regions with the most dominance in terms of the number of deals entered. Both are based on Europe and Asia show decline in construction deals over 2018 compared to 2017, while North America shows a sharp growth in total deals recorded. Currently, the global economy is in severe slowdown mode amidst deepening credit crunch, upsetting developmental targets of economies and COVID-19 pandemic across the world. The COVID-19 pandemic has reduced investment in construction related projects in the range of 13 to 30% which will have significant impact on Gross Value Added (GVA) and employment in this sector. Since the construction sector is primarily dominated by infrastructure projects, the current levels of uncertainty are expected to seriously hit the sector.
Moisture Curing Adhesives Market Segment Analysis – By Geography
APAC dominated the moisture curing adhesives market with a share of more than 42% in 2020, followed by North America and Europe. The growth is anticipated due to expanding construction sector and rising automotive sales in the region. These developments are expected to have a big effect on the overall size of the industry in the coming years. On the other hand, Europe also registers itself as one of the fast growth markets due to the presence of large end-user industries. For example, the recovery of the construction sector in order to achieve energy-efficient buildings and a strong automotive sector in the area is likely to drive the market size of moisture curing adhesives in the coming years.
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Moisture Curing Adhesives Market Drivers
R&D and demand from end use industry
Manufacturers of moisture-curing adhesive systems have been actively focusing on revolutionary product technologies to create and launch new, solid, moisture-curing adhesive systems that provide proper moisture curing. It should be noted that the demand for new cars is driven by an ever-growing number of foreign and domestic travelers, along with increasing speed of transport. This rise in demand for new vehicles would, in turn, boost global demand for moisture-curing adhesive systems in the future. In developed economies, customers are searching for advanced diagnostic and automation products. Via process R&D and product innovation in advanced telematics systems, manufacturers have greatly improved their response time to these personalized customer requirements. This trend is expected to gain momentum across the global market and generate enormous opportunities in the near future.
Moisture Curing Adhesives Market Challenges
Environmental and Safety Issue can restrict the market growth
Environmental and safety concerns, along with increasing government regulations, are expected to lead to the production of goods with less volatile organic compounds (VOCs). The U.S. Environmental Protection Agency (EPA) has developed standards for the use of clean air in the furniture surface coating industry. Government regulations, such as the Major New Alternatives Policy (SNAP) applied by EPA and REACH on the use of environmentally friendly goods in the manufacture of curing adhesives, are expected to pose challenges for industry participants.
Moisture Curing Adhesives Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Moisture Curing Adhesives market. Major players in the Moisture Curing Adhesives market are Henkel AG & Co. KGaA, H.B. Fuller, The 3M Company, Sika AG, The Dow Chemical Company, Bostik SA and Others.
Acquisitions/Technology Launches/ Product Launches
n April 2020, Dow Chemical Company launched DOWSIL EA-3838 fast curing silicone adhesive that cures rapidly without oven heat for improved productivity and reduced energy usage in the manufacture of appliances, automotive electronics, lighting and avionics. This innovative new adhesive cures at room temperature and provides fast adhesion for shorter cycle times. Additionally, DOWSIL™ EA-3838 Fast Adhesive creates strong, reliable bonds between a variety of dissimilar materials, including glass to metal, glass to painted metal and glass to plastic.
In January 2015, Bostik launched a new, one-component, moisture cured, and urethane adhesive SG1578-164. The SG1578-164 adhesive from Bostik has a unique balance of good green strength with a long open time making it an excellent choice for processing of assembly fixtures. The SG1578-164 is the latest innovation in hot melt technology from Bostik.
Key Takeaways
Asia-Pacific dominates the moisture curing adhesives market owing to expanding construction sector and rising automotive sales in the region.
On the other hand, Europe also registers itself as one of the fast growth markets due to the presence of large end-user industries.
Moreover, the ongoing M&A activities among suppliers would further cater to the growth in Global Moisture Curing Adhesives Market.
Surging R&D activities are some of the opportunities which are expected to fuel the market.
Related Reports :
A. Polyurethanes Market
https://www.industryarc.com/Report/11682/polyurethanes-market-analysis.html
B. Silicone Adhesives Market
https://www.industryarc.com/Report/18765/silicone-adhesives-market
For more Chemicals and Materials Market reports, please click here
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