LONDON, April 20, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of thermoset resins in the global adhesive industry looks good with opportunities in the automotive and construction applications. The thermoset resin in global adhesive industry is forecast to grow at a CAGR of 6.4% from 2015 to 2020. The major growth drivers for thermoset resin in the global adhesive industry are replacement of traditional fasteners with adhesives and growth in key end-use applications.
In this market, polyurethane and epoxy resins are the major thermoset resins in the adhesive industry. Lucintel predicts that the demand for epoxy resin in adhesive industry is likely to experience the highest growth in the forecast period supported by growing demand in end-use applications. On the basis of comprehensive research, Lucintel forecasts that automotive industry is expected to show above average growth during the forecast period.
Within the thermoset resin in the global adhesive industry, the automotive industry is expected to remain as the largest market. Growth in the light and commercial vehicle production and replacement of fasteners with adhesives is expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to growth in end use applications and increasing use of adhesives in place of traditional fasteners.
Europe, Asia Pacific, and Rest of the World are expected to witness above average growth over the forecast period because of growth of the automotive and construction industry.
For market expansion, the report suggests new product development with fast ambient cure, low-modulus, and high-elongation, where the unique characteristics of thermoset resin can be capitalized. Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of adhesive with bio-based thermoset resin and increasing application of two part polyurethane adhesive. Dow Chemicals, BASF SE, Huntsman, Momentive, and Bayer AG are among the major players of thermoset resin in the global adhesive industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed thermoset resin in the global adhesive industry by chemistry, end use application, and region, and has come up with a comprehensive research report, "Growth Opportunities for Thermoset Resin in Global Adhesive Industry 2015-2020: Trend, Forecast, and Opportunity Analysis." The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the thermoset resin in the global adhesive industry through 2020, segmented by chemistry, end use application, and region as follows:
By chemistry [volume (M lbs/Kilo ton) and $ Million shipments from 2009 to 2020]:
- Epoxy Resin
- Polyurethane Resin
By end use application [volume (M lbs/Kilo ton) and $ Million shipment from 2009 to 2020]:
- Aerospace and Defense
- Wind Energy
By region [volume (M lbs/Kilo ton) and $ Million shipment from 2009 to 2020]:
- North America
- Asia Pacific
- Rest of the World
Some of the features of "Growth Opportunities for Thermoset Resin Market in Global Adhesive Industry 2015-2020: Trends, Forecast, and Opportunity Analysis" include:
- Market size estimates: Thermoset resin in global adhesive industry estimation in terms of volume (M lbs.) and value ($M) shipment.
- Trend and forecast analysis: Thermoset resin in global adhesive industry trend (2009-2014) and forecast (2015-2020) by region and by segment.
- Segmentation analysis: Thermoset resin in global adhesive industry size by chemical types such as epoxy, polyurethane and others both in terms of volume and value shipment.
- Thermoset resin in global adhesive industry size by end use application, such as automotive, construction, aerospace and defense, wind energy, and others.
- Regional analysis: Thermoset resin in global adhesive industry breakdown by key regions such as North America, Europe, Asia Pacific, and Rest of World.
- Growth opportunities: Analysis on growth opportunities in different applications, chemical type, and regions.
- Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of thermoset resin suppliers in global adhesive industry.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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