Dublin, June 06, 2023 (GLOBE NEWSWIRE) -- The "Reactive Adhesive Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The reactive adhesive market is projected to grow at a CAGR of 5.46% to reach US$13.957 billion in 2028 from US$9.621 billion in 2021.
Reactive adhesives are hardening agents with elements and compounds that enable chemical bonding between different surface structures. These adhesives are extensively used between components and sublayers that require prominent longevity and resilient strength to provide smooth functioning between interlinked components. Therefore, reactive adhesives are used across several industries such as transportation, healthcare, renewable energy, aerospace, and construction.
Reactive adhesive products can be classified into single-component and multiple-component adhesives. In a single-component adhesive, the adhesive chemically bonds with an exterior source of energy whereas, in a multiple-component adhesive, the chemical bonding is usually amid two or more items including hardening agents and resins. For instance, epoxy resin adhesive is a two-component reactive adhesive used in glass products, timber products, and ceramics. Therefore, the extensive application of the reactive adhesive market across different industries will result in significant growth of the reactive adhesive market over the forecast period.
Market Drivers
Expansion of the building and construction sector
Due to their ability to tolerate drastic environmental and climate conditions and durability, reactive adhesives are implemented in constructing exterior structures. Polyurethane adhesives in hot melt form are usually employed in construction procedures to increase the viscosity and strength of constructed buildings.
The advancement of the real estate sectors fueled by the increasing urbanization rates across the world is resulting in the expansion of civil infrastructure across several developed and developing economies. For instance, the Associated General Contractors of America reported that the construction sector in the US contributes to the development of approximately US$1.8 trillion in infrastructure on an annual basis. Therefore, the increase in building activities across the world will result in a greater demand for reactive adhesives.
Growing demand for renewable energy sources
Due to the rising environmental concerns surrounding the use of coal-based energy sources, the renewable energy sector is witnessing high demand. For instance, the aggregate installed wind energy sources in Brazil reached 22 GW in 2022 according to the global wind energy report 2022.
Epoxy and other hybrid composition reactive adhesives are used to provide renewable energy-generating products such as wind turbines with the ability to resist and tolerate high sunlight radiations and extreme climates. Reactive adhesives must be applied in precise volumes and areas to ensure their effective functioning. Therefore, the rising demand for sustainable energy sources and the expansion of the construction sector will propel the growth of the reactive adhesive market over the forecast period.
The ill effects of reactive adhesives on health could limit the growth of the reactive adhesive market.
Certain resins used in reactive adhesives have been scientifically proven to have a negative impact on human health. For instance, long exposure to epoxy resins could lead to the generation of autoimmunity and developmental disorders in humans. Since they contain a toxic element named BPA, they also pose the threat of inducing cancer and asthma issues. In addition, excessive exposure to polyurethanes could result in cancer of different forms including lymphatic, leukemia, and breast cancers.
They have also been proven to negatively affect the working of the neurological system and genetic structure in humans. Since these resins are employed in the manufacture of domestic household goods such as tables, couches, and mattresses, the consumers could be harmed by such health dangers. Hence, this could result in a restrained growth of the reactive adhesive market.
Market Developments:
In May 2022, Bostik Company introduced two new products, SG6520 and SG6518 to its Supergrip product line. These new products are polyurethane reactive adhesives applied in the carpentry and woodwork sectors.
In February 2022, a leading chemical manufacturing company, Arkema declared its acquisition of Shanghai Zhiguan Polymer Materials, a Chinese Company pursuing the manufacture of reactive polyurethane and other adhesives in hot-melt form, to expand its adhesive products portfolio.
Asia Pacific holds a prominent share of the reactive adhesive market and is expected to grow in the forecast period.
The reactive adhesive market in the Asia Pacific region is witnessing high levels of demand due to the expansion of the consumer electronics and automotive sectors in this region. The application of reactive adhesives in the production of reactive adhesives substituting the traditional tools used in the integration of electronic components and enhancing the durability of consumer electronic goods. Hence, reactive adhesives assist electronic goods manufacturers to fulfill their design and infrastructure demands.
Hence, these adhesives are used in mp3 devices and smartphones to conveniently size these items and improve their durability. Hence, the rapid developments in the consumer electronics market of the Asia Pacific region, for instance, the launch of foldable smartphones by South Korean manufacturing company, Samsung Electronics resulting in increased consumption of electronic goods is anticipated to promote the growth of the reactive adhesive market of this region.
Market Segments:
By Resin Type
- Polyurethane
- Epoxy
- Cyanoacrylate
- Modified Acrylic
- Anaerobic
- Silicone
- Others
By End-User
- Building & Construction
- Renewable Energy
- Transportation
- Healthcare
- Electronics
- Aerospace
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Taiwan
- Others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $9.62 billion |
| Forecasted Market Value (USD) by 2028 | $13.96 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. REACTIVE ADHESIVE MARKET BY RESIN TYPE
6. REACTIVE ADHESIVE MARKET BY END-USER
7. REACTIVE ADHESIVE MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies Mentioned
- 3M
- Arkema Group (Bostik SA)
- Dow
- Wacker Chemie AG
- Henkel
- APPLIED Adhesives
- Evonik
- Covestro AG
- Jowat Corporation
- Mitol (Soudal Group)
- Buhnen GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/3xuv3m
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
