Construction Sector to Seal Dominance in Moisture Curing Adhesives Market, Accounting for over 1/4th of Global Sales
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NEW YORK, Sept. 28, 2021 /PRNewswire/ -- The global market for moisture curing adhesives is poised to expand at a CAGR of 6% over the forecast period 2020-2030. Its overall valuation totalled US$ 5 billion in 2020.
The moisture curing adhesives market is expanding at a steady pace on account of the increasing demand from construction and automotive industries. Also, improving scope for applications in diverse industries, ranging from textile to footwear is creating a conducive environment for growth.
Besides these, growing demand for furniture and wooden flooring in residential and commercial sectors is giving tailwinds to sales. Among various compositions, polyurethane usage remains highly sought-after in the construction industry owing to its high strength properties.
Manufacturers operating in the market are increasingly investing in research and development activities to develop innovative moisture curing adhesives with industry-specific features. For instance, in 2019, Jowat announced the launch of new biobased hot melt adhesives named Jowatherm-Reaktant® GROW. It is touted as the first reactive polyurethane hot melt adhesive derived from renewable raw materials and meant for textile lamination.
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According to the study, the North America market is anticipated to demonstrate rapid growth over the forecast period. Demand outlook for the U.S. market remains positive, which surpassed a valuation of US$ 1.5 billion in 2019.
"As competition continues increasing in the moisture curing adhesives market, market players are expected to focus on product differentiation. Some are emphasizing on new launches to cater to the industry-specific requirements," says a Fact.MR analyst.
Key Takeaways from Moisture Curing Adhesives Market Survey
Key Drivers
Key Restraints
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Competitive Landscape
Moisture curing adhesives manufacturers are focusing on new product offerings along with capacity expansion to gain a competitive edge in the market.
For instance, in 2019, BASF announced capacity expansion for adhesive raw material acResin by constructing a second production facility at the Ludwigshafen site in Germany. With this expansion, the company has reinforced its position as the key solution provider for sophisticated applications in the adhesives sector.
In 2019, Chemique Adhesives announced the launch of its new polyurethane compound called Bondseal 1128, which is suitable for sealing and bonding applications in various industries including commercial, transport and construction.
Some of the leading players operating in the moisture curing adhesives market profiled by Fact.MR are:
More Valuable Insights on Moisture Curing Adhesives Market
Fact.MR, in its new report, offers an unbiased analysis of the global moisture curing adhesives market, analyzing forecast statistics through 2020 and beyond. The survey reveals growth projections on moisture curing adhesives with detailed segmentation:
Composition
End-use Industry
Region
Key Questions Covered in the Moisture Curing Adhesives Market Report
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Low VOC Adhesives Market- Low VOC adhesive compounds are used in a variety of industries, including construction, paper and packaging, transportation, and consumer goods. These are eco-friendly adhesives with excellent strength and bonding properties. Low VOC adhesives have strength and adhesion properties that are projected to increase demand for high-performance adhesives. Growing demand from the paper and packaging industries, as well as a shift in consumer preference for hot-melt adhesives, are propelling the low VOC adhesives market.
Silicone Adhesives Market- The silicone adhesives market will grow in response to increased demand for sealants with excellent chemical and physical qualities in the construction, automotive, electrical, and electronics industries, among others. Silicone adhesives are increasingly being used for structural metal bonding, external interior trim, and glass bonding, which is projected to help the market gain traction in the near future. Silicones also have exceptional adherence to car wrappings and films. Because of their superior conductive qualities, silicone adhesives will continue to gain popularity, particularly in the electronics industry.
Thermal Conductive Adhesives Market- The worldwide thermal conductive adhesives market has seen a lot of use in industries including automotive and electronics. Furthermore, over the long term projection period, the increasing demand for integrated circuits and cutting-edge technologies across the globe is expected to boost the overall volume demand of thermal conductive adhesives market. Rising investments in energy storage solutions, as well as low-cost and efficient materials, are expected to generate lucrative prospects in the global thermally conductive adhesives market.
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