The Asia-Pacific region is expected to be the fastest-growing market for marine adhesives.
The marine adhesives market is estimated to reach $466.2 million by 2022, growing at a compound annual growth rate (CAGR) of 4.6%, in terms of value, according to a recent report by MarektsandMarkets.
Based on vessel type, the boats segment is projected to grow at the highest rate during the forecast period. Recreational boating is expected to be driven by accelerations in personal consumption expenditures and disposable personal incomes, and due to rising spending on recreation and leisure activities, and aging used boat fleets that are expected to demand marine adhesives.