PUNE, India, February 26, 2016 /PRNewswire/ --
The report "Two Component Adhesives Market by Resin Type (Polyurethane, Epoxy, MMA, Silicone, and Others), by Application (Automotive, Construction, Electronics, Aerospace, and Others) and by Region (North America, Europe, Asia-Pacific, and RoW - Global Forecast to 2020", published by MarketsandMarkets, The market size is estimated to grow from USD 4.55 Billion in 2015 to USD 6.23 Billion by 2020, registering a CAGR of 6.5%.
Browse 105 market data Tables and 44 Figures spread through 141 Pages and in-depth TOC on "Two Component Adhesives Market"
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The market is driven by rising use of adhesives in vehicles for weight reduction. As the automotive industry uses lightweight materials such as plastics, composites, aluminum, and other lightweight materials which ultimately demand better adhesive material for bonding. So, it is a prime factor for the growth of two component adhesives, globally. Among all regions considered, Asia-Pacific and RoW are estimated to witness high growth in the next five years. Also, the demand in these regions is reinforced by the emerging markets, namely, China, Brazil, and India.
Automotive the largest application of the two component adhesives market
Two component adhesives are used in various applications such as automotive, construction, electronics, aerospace, and others. These are also 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 estimated to witness the highest CAGR between 2015 and 2020 among all the applications considered, followed by construction, electronics, and aerospace.
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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 is the major driver for the Two Component Adhesives Market. The demand for adhesives is high in China due to increased production of vehicles in the last 2-3 years. It is also the largest consumer of two component adhesives, globally. Other emerging economies such as India, Malaysia, Thailand, and other Asian countries are expected to witness high demand of two component adhesives.
The scope of the report covers detailed information regarding the major factors influencing the growth of the two component adhesives market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the market.
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