- The size of the engineering adhesives market was almost 4, 550 kilo tons in 2014. Rising demand in view of expanding end-users in the developing economies of China, Mexico, and India is estimated to further the market. The demand for engineering adhesives in Asia Pacific has been greater owing to rapid urbanization in the developing nations of India and China. Joints, bolts, and other conventional materials in fastenings for construction, transportation, and other sectors are being substituted with adhesives.
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The production of polyurethane adhesives from fermentation and microbial processes is projected to open prospects for market players. The engineering adhesives market is trifurcated into three segments. These are products, applications, and geographical regions. The leading product was epoxies in 2014. Epoxies occupied more than 36 percent of the total volume that year. Epoxy adhesives are broadly utilized in automotive and aircraft manufacturing procedures to stick components with each other.
Moreover, they are utilized for sticking stone, glass, wood, and plastics apart from metals. Rising use in the sectors of construction, transportation, and furniture is estimated to drive the growth of epoxies in the forecast period. The other products comprise methacrylates and cyanoacrylates. With regards to applications, construction dominated the engineering adhesives market in 2014.
This application captured around 32.5 % the worldwide volume. Heavy demand for plastics in the manufacture of automotive components and huge demand for quality metal-plastic sticking will propel transportation applications. Bonding products are utilized in specialty vehicles like horse trailers, cargo, emergency vehicles, and truck boxes.
Enhanced scope in wire tacking, glass bonding, magnet bonding, and dome coating will steer consumer devices applications in the forecast period. Consumer devices occupied more than 14 percent of the total volumes in 2014. Regions of the engineering adhesives market include Asia Pacific, North America, the Middle East, Europe, and Central & South America.
Asia Pacific dominated the market in 2014, with about 42% of the total volume. North America had more than 22% of the total volumes in 2014. Huge demand from the sectors of packaging and automotives is a primary driver of the region. Some of the chief organizations participating in production procedures comprise W.I. Polymers Ltd., Henkel, Huntsman Corporation, Permabond Engineering Adhesives, Toray Fine Chemicals, and Dymax.
Information Source: Grand View Research
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