NEW YORK, March 8, 2016 /PRNewswire/ -- "Focus on bonding dissimilar materials in various applications drives the two component adhesives market"
The global two component adhesives market is estimated to reach USD 6.23 billion by 2020, registering a CAGR of 6.5%. Ability to bond different dissimilar materials such as plastics, composites, and different lightweight materials is driving the market for two component adhesives in automotive, construction, and aviation industries.
"Automotive is the largest application of two component adhesives market".
Two component adhesives are used in various applications such as automotive, construction, electronics, aerospace, and others. These are the main applications considered in the report. In 2015, the automotive application segment is estimated to account for the largest market share among all the applications, in terms of volume.It is projected to register the highest CAGR between 2015 and 2020 among all the applications considered, followed by construction, electronics, and aerospace.
"Rising demand from Asia-Pacific is the major driver for two component adhesives market"
In 2015, Asia-Pacific is estimated to account for the largest market share, in terms of volume, and is projected to register the highest CAGR between 2015 and 2020. The high demand in Asia-Pacific drives the two component adhesives market. The demand in China has increased due to production of vehicles in the last 2–3 years. It is also the largest consumer of adhesives, globally. Other emerging economies in Asia-Pacific such as India, South Korea, Indonesia, and other Asian countries are expected to witness significant growth in this market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have beemn conducted.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 - 37 %, Tier 2 – 50 %, and Others - 13 %
- By Designation - C level - 50%, Director level - 31%, and Others - 19%
- By Region - North America - 31%, Europe - 38%, Asia-Pacific - 25%, and RoW – 6%
The key companies profiled in this market research report are 3M Company -, Henkel AG & Company -, Sika AG -, BASF SE -, Dow Chemical Company -, Bostik -, H.B. Fuller -, and Master Bond Inc., -.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the two component adhesives market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the insights of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes analysis of strategies such as new product developments, partnerships, and mergers & acquisitions.
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