The composite adhesives market was valued at $1.13 billion in 2016 and is projected to reach $1.78 billion by 2022, at a compound annual growth rate (CAGR) of 7.9% from 2017 to 2022, according to the report "Composite Adhesives Market by Resin (epoxy, polyurethane), Component (one-component, two-component), Application (automotive and transportation, marine, aerospace, wind energy), and Region - Global Forecast to 2022" from MarketsandMarkets™.
Currently, the North America region is reported as the largest for the composite adhesives market, in terms of both value and volume with the U.S. being the largest market for composite adhesives and Mexico being the fastest-growing market for composite adhesives in the North America region.
The following factors are the main driving forces for the composite adhesives market in the North America region:
- Growing aerospace and automotive segment in North America; and
- Increasing use of green and renewable wind energy in the region.
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