The global high-performance adhesives market has been rising at a healthy clip owing to the organic growth in end use industries, namely aerospace, transportation, construction, packaging, medical, and defense. The market is also being fuelled by the increasing demand for automated, miniaturized electronics. Apart from that, inherent USPs of the product such as excellent adhesion properties and resistance to high temperatures and chemicals is also having a positive impact on sales in the market. Going forward, the very same factors are expected to support the growth in the global high-performance adhesives market.
Realizing the potential in the market, savvy players are seen exploring new applications of the product. They are also finding unqiue products. They are also seen expanding their geographical footprints into new markets. Some of the key stakeholders in the global high-performance adhesives market are suppliers of raw materials, manufacturers of the product, and distributors and end users.
Technological Advancements to Drive Market in Future
The global high-performance adhesives market is set to receive a major boost from the continued progress in supporting technologies in the next couple of years. Nimble players in the market are already setting considerable amounts for research and development of more effective products. As a result, the market is seen shifting from the traditional solvent-based adhesives to the high-performance ones. The latter include hot-melt high-performance adhesives meant specifically for certain end use industries.
Currently, sales in the global high-performance adhesives market is mainly being generated by the transportation industry since the product can easily bond dissimilar substrates to better performance. They also help to achieve lightweight designs using multi-materials that are fuel efficient. The overall transportation industry is mainly comprised of marine, automotive, and aerospace sectors.
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Epoxy Emerges as Highest Grossing Product in High-performance Adhesives Market
Some of the main products in the global high-performance adhesives market are acrylic, epoxy, polyurethane, and silicone. Of them, epoxy is grossing most of the revenue in the market at present. In the near term as well, the product is projected to generate most of the revenue. This is because of its high compatibility with epoxy resin, strong resistance to temperature, and greater durability.
The different types of technologies underpinning products in the global high-performance adhesives market are water-based adhesives, solvent-based adhesives, and hot-melt adhesives. Among the three, the solvent-based adhesives are used most widely since they have high resistance to humidity, temperature, and discoloration.
Asia Pacific Adhesives Market Rises at Highest Clip on the Back of Construction Boom
From a geographical perspective, Asia Pacific high-performance adhesives market is the fastest growing one. The construction, transportation, and medical industries in the region are mainly serving to drive demand. This, in turn, is mainly because of the high economic growth owing to mushrooming manufacturing units on the back of cheap labor and easy availability of land.