The global moisture curing adhesive market is expected to reach USD 7.21 billion by 2025, according to a new report by Grand View Research, Inc. Utilization of automotive product has been a major driving factor for market growth. Consumption of moisture curing adhesive services has increased owing to the growing need for protection of products from moisture.
Moisture curing adhesive services have various uses in in construction, housing, electrical & electronics, and industrial sectors. It is also utilized in printing & coating, decorative, furnishing, flooring, automotive, transportation, packaging, coating on woods, metals, plastics, paper, corks, industrial inks, and heavy machinery.
Automotive application segment is projected to have the highest growth rate over the forecast period. The segment is expected to grow with an estimated CAGR of 7.0% over the next eight years. Vehicle manufacturing companies depend on adhesive innovation as a settled part of their production line. In every vehicle, normally 15 kg of different moisture curing adhesives are utilized to mount and assemble an immense collection of parts. These factors are expected to propel the automotive application segment growth over the next eight years.
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Further key findings from the report suggest:
The global moisture curing adhesive demand in terms of volume was USD 485.5 million in 2016 and is expected to grow at a CAGR of 5.2% from 2017 to 2025
Polyurethane emerged as the largest chemistry segment in 2016 and is estimated to generate revenue over USD 2.78 billion by 2025
Cyanoacrylate is anticipated to be the fastest growing service segment over the next eight years and is estimated to grow at a CAGR of 6.9%
Global moisture curing adhesive demand in construction application was USD 1.02 billion in 2016 and is anticipated to witness steady growth over the next eight years
The U.S. automotive moisture curing adhesive market in applications category was worth USD 0.82 billion and is estimated to reach USD 1.40 billion by 2025
The Asia Pacific region is anticipated to witness high growth at a CAGR of 7.1% by 2025. Developing economies in the region, including India and China, have been experiencing strong economic growth, which is expected to drive automotive and construction market over the next eight years
Key players of the industry include H.B. Fuller, 3M, The DOW chemical company, Henkel AG & Co. KGaA, and Bostik SA. These major players are often indulged in mergers, joint ventures, & acquisitions, in order to expand their product portfolio and gain market share
Grand View Research has segmented the global moisture curing adhesive market on the basis of service, application, and region:
Chemistry Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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