Valued at USD 3.9 Bn in 2023, the market is projected to reach USD 6.6 Bn by 2032, growing at a 5.4% CAGR. Europe holds the largest share, while Asia-Pacific grows fastest. The report is segmented by resin, application and component.
The global composite adhesives market was valued at USD 3.9 Bn in 2023 and is projected to reach USD 6.6 Bn by 2032, growing at a CAGR of 5.4%. Europe is the largest regional market and Asia-Pacific is growing fastest.
Reports Description
Global Composite Adhesives Market was valued at USD 3.9 Billion in 2023 and is expected to reach USD 6.6 Billion by 2032, at a CAGR of 5.4% during the forecast period 2023 - 2032.
Composite adhesive is a type of glue designed particularly for attaching composite materials. Composite materials are designed materials built from two or more constituent materials having considerably distinct chemical or physical properties, which when combined, generate a material with qualities that differ from the separate components.
Composite Adhesives Market Growth Factors
Rising adoption of composites in aerospace and defense applications
The increasing use of composite substances in aerospace and defense applications has a substantial influence on the composite adhesive industry.
Composite materials provide various benefits, including a substantial strength-to-weight ratio, corrosion resistance, and design flexibility, which makes them excellent for use in aviation and military systems where performance and dependability are critical.
As the need for lighter, more fuel-efficient aircraft and innovative military technology increases, so does the need for dependable bonding solutions to connect these composite components.
Composite adhesives play an important role in maintaining the integrity and longevity of these structures by forming strong, lightweight, and long-lasting connections.
The expanding use of composite in aerospace and defense applications stimulates the demand for specialist composite adhesives that evolved to the rigorous meet the stringent performance requirements of these industries, thereby driving the growth of the composite adhesive market.
For instance, The US Department of Defense revealed a $3.7 million contract with Qarbon to assist with the development and building of revolutionary lightweight continuous fibre thermoplastic composite structures for national defense aviation applications.
The use of composites reduces the loss of efficiency usually associated with traditional bleed-air systems and allows great flexibility when optimizing the assembly for different components or aircraft. It also offers increased manufacturing, durability, dependability, and simplicity of maintenance.
Emerging applications in the marine and wind energy industries
Emerging applications in the maritime and wind power industries are major drivers of the composite adhesive industry. Composite materials are increasingly employed in boat construction because of their lightweight, corrosion-resistant, and high strength qualities.
Composite adhesives are vital in attaching these components, guaranteeing structural integrity and longevity in hostile maritime conditions. Furthermore, in the wind energy industry, composite components are widely used in the production of wind turbine blades to improve effectiveness and durability.
Composite adhesives make it easier to attach diverse composite components to these blades, resulting in greater structural stability and endurance. As the need for renewable energy sources develops, notably offshore wind farms, the necessity for dependable composite adhesives will continue to climb, pushing innovation and growth in the composite adhesive market.
For instance, the study conducted by the Subcomponent Validation of Composite Joints for the Marine Energy Advanced Materials Project. The study gathered much-needed information on the benefits and drawbacks of around 300 distinct specimens made from materials typically utilized in marine energy devices.
These include steel and fiberglass composites (made up of glass fibers and polymers that may harden permanently), as well as the adhesives that hold them together.
Composite Adhesives Market: Restraints
Fluctuating prices of raw materials
Raw material price fluctuations have a substantial impact on the composite adhesive industry in a variety of ways. Sharp rises in raw material prices might raise composite adhesive production costs, thus limiting manufacturers' profit margins.
This can lead to higher pricing for customers, making composite adhesives less competitive when compared to other bonding methods. In addition, fluctuating raw material costs can cause market uncertainty, making it difficult for firms to plan their schedules and properly control inventory levels.
This uncertainty may also cause changes in supply and demand, affecting the overall stability of the composite adhesive market. Henceforth above mentioned factors hinder the global composite adhesive market.
Composite Adhesives Market: Opportunities
Continuous innovation and the development in adhesive
Continuous research and development are critical to fostering the expansion of the composite adhesive industry. As sectors such as aerospace, automotive, and construction use composite materials more often for their lightweight and high-strength qualities, the need for improved adhesive solutions grows.
Manufacturers engage in R&D to produce composite adhesives with high bonding strength, endurance, and compatibility with a variety of composite substrates. Improvements in formulation and application procedures result in sealants that can survive harsh weather conditions, temperature changes, and mechanical loads.
Furthermore, advances in nanotechnology and materials science help to increase adhesive qualities, such as stickiness and fatigue resistance.
These continuous developments do not solely serve current industry demands as well as predict future requirements, promoting market expansion and allowing the widespread adoption of composite materials across diverse industries.
For instance, Bostik recently released the R-SAF line, which is a new generation of recyclable structural MMA adhesives. This range may be reused in conjunction with Elium® resin-based composites using mechanical or chemical methods, enabling the Group to provide a one-of-a-kind solution for true circular composites.
Arkema has partnered with 9T Labs (Zurich), a start-up specialized in 3D printing and thermoplastic composites, to provide its outstanding performance polymer Kepstan® PEKK. 9T Labs has created a technique that automates composite production with additive manufacturing (AM) and powerful software techniques.
Composite Adhesives Market: Segmentation Analysis
The global Composite Adhesives market is segmented by resin, application, and region. Based on resin, the market is classified into epoxy, polyurethane, acrylic, polyimide, phenolic, and others. Epoxy dominated the market in 2022 with a market share of 40% and is expected to keep its dominance during the forecast period 2024-2032.
Epoxy-based composite adhesives have substantially driven the synthetic adhesive market due to their outstanding bonding properties and versatility.
Epoxy adhesives have great strength, and good adhesion to a broad range of substrates, including composites, metals, and plastics, and are resistant to a variety of environmental conditions such as moisture, chemicals, and severe temperatures.
These features make epoxy adhesives perfect for attaching composite materials in sectors that include aerospace, automotive, marine, and construction. In addition, epoxy adhesives may be modified with additives to improve certain performance qualities such as flexibility or heat conductivity, hence broadening their application.
The increased need for lightweight, high-performance materials in a variety of sectors has accelerated the use of epoxy-based composite glues, resulting in market expansion and domination in the composites adhesive sector.
Based on application, the market is classified into automotive, aerospace, wind energy, marine, and others. The automotive segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032.
The automotive sector is a major driver of the composite adhesive market, owing to the growing need for lightweight materials to enhance fuel economy and decrease emissions. Composite materials, such as carbon fiber and fiberglass, provide a tempting answer to this requirement since they are both lightweight and robust.
Composite adhesives serve an important role in binding these materials, assuring strength and longevity in automobile components such as body panels, chassis, and interior trim.
Furthermore, composite adhesives have features like as corrosion resistance, vibration damping, and design flexibility, making them more appealing to automobile producers. As the automotive industry prioritizes reducing weight and sustainability, demand for composite adhesives is likely to rise, fuelling creativity and advances in this market sector.
Report Scope
Feature of the Report
Details
Market Size in 2023
USD 3.9 Billion
Projected Market Size in 2032
USD 6.6 Billion
Market Size in 2022
USD 3.5 Billion
CAGR Growth Rate
5.4% CAGR
Base Year
2023
Forecast Period
2024-2033
Key Segment
By Resin, Application and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
Request tailored purchasing options to fulfil your requirements for research.
Composite Adhesives Market: Regional Analysis
By region, Composite Adhesives market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
The Asia-Pacific dominated the global Composite Adhesives market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.
The region is seeing tremendous industrialization and infrastructural development, which is driving up the need for inexpensive and high-performance substances like composites in industries such as automotive, aircraft, construction, and wind energy.
In addition, the increased emphasis on fuel efficiency and sustainability is boosting the development of composite materials, which in turn increases the demand for specialist adhesives to successfully glue these materials together.
Furthermore, the existence of major manufacturing center in countries such as South Korea, China, Japan, and India drives market expansion by creating a favourable environment for composite adhesive research, development, and manufacture.
Furthermore, increasing expenditures in technical developments and the growth of end-user industries in the region contribute to the continued expansion of the composite adhesive market in the Asia-Pacific region.
Global Composite Adhesives Market 2023–2032 (By Billion)
In February 2022, Venturi Aviation collaborated with Airborne, a business that provides innovative composite solutions, to use lightweight composite structures for an all-electric commuter aircraft, Echelon 01.
In February 2023, Henkel AG & Co. KGaA announced a collaboration with the International Centre for Industrial Transformation's participation program. The business's adhesive technologies business department wants to employ INCIT's tools and frameworks to accelerate its processes' digital transformation by joining INCIT's partner network.
In March 2022, 3M, a diversified technology business, introduced their new Scotch-Weld Multi-Material Composite Urethane Adhesive DP6310NS. This glue is intended for attaching a variety of composite components and has good impact resistance and durability.
List of the prominent players in the Composite Adhesives Market:
Henkel AG & Co. KGaA
3M Company
Sika AG
Huntsman Corporation
B. Fuller Company
LORD Corporation
Permabond Engineering Adhesives
L&L Products Inc.
Scott Bader Company Ltd.
Gurit Holding AG
Hexcel Corporation
Dow Chemical Company
Arkema Group
Ashland Global Holdings Inc.
Avery Dennison Corporation
Mitsubishi Chemical Corporation
Toray Industries, Inc.
Solvay S.A.
ITW Performance Polymers
Jowat SE
Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Composite Adhesives Market is segmented as follows:
What is the restraints of Global Composite Adhesives market?
The restraints of the Composite Adhesives market is fluctuating prices of raw materials.
Which are the driving factors of the Composite Adhesives Market?
The major driver for the Composite Adhesives market is rising adoption of composites in aerospace and defense applications and emerging applications in the marine and wind energy industries.
Which type led the Composite Adhesives market?
The "Epoxy" category dominated the market in 2022.
Who are the key players in the Composite Adhesives market?
The key players in the market are Henkel AG & Co. KGaA, 3M Company, Sika AG, Huntsman Corporation, H.B. Fuller Company, LORD Corporation, Permabond Engineering Adhesives, L&L Products Inc., Scott Bader Company Ltd., Gurit Holding AG, Hexcel Corporation, Dow Chemical Company, Arkema Group, Ashland Global Holdings Inc., Avery Dennison Corporation, Mitsubishi Chemical Corporation, Toray Industries, Inc., Solvay S.A., ITW Performance Polymers, Jowat SE, Others.
Which region held the largest market share in the Composite Adhesives market?
"Asia-Pacific" had the largest share in the Composite Adhesives Market.
What is the growth rate of the Composite Adhesives market?
The global market is projected to grow at a CAGR of 5.4% during the forecast period, 2023-2032.
How much is the Composite Adhesives market?
The Composite Adhesives Market size was valued at USD 3.9 Billion in 2023.
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.