Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.4 Billion | USD 5.7 Billion | 4.2% | 2020 |
FrequentlyAsked Questions
Rise in demand for product in manufacture of FRP bathtubs, doors, windows, and panels will steer composite adhesives industry growth. Surge in allocation of funds from state authorities for construction activities will proliferate size of composite adhesives market in forthcoming years. Breakthroughs in additive manufacturing activities have proved to be beneficial for composites, thereby driving industry trends. With massive inclination towards use of green products in vehicle production and demand for low carbon vehicle emissions, the growth of market for composite adhesives is gaining momentum in recent years.
According to Zion market research report, the global Composite Adhesives Market accrued earnings worth approximately 3.4 (USD Billion) in 2020 and is predicted to gain revenue of about 5.7(USD Billion) by 2028, is set to record a CAGR of nearly 4.2% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to prominent surge in use of product in lightweight constructions. Apart from this, large-scale use of composite adhesives in a slew of end-use industries in China & India and thriving construction sector with strong infrastructure will promulgate scope of market growth in sub-continent. Rise in population in sub-continent is projected to play a key role in leveraging growth of industry in region.
The key market participants include Lord Corp., Henkel AG & Co. KGaA, Bostik, Illinois Tool Works Inc., Dow Inc., Ashland Inc., The 3M Company, Permanbond LLC, and Huntsman Corp.
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