Fact.MR has released a new adhesives market report, titled Two Component Adhesives Market By Composition (Polyurethane, Epoxy, Methyl Methacrylate (MMA), Silicone), By Application (Construction, Automotive, Aerospace, Electronics) & Region – Global Market Insights 2023 to 2033. According to the report, global demand for two-component adhesives is predicted to increase at a CAGR of 7.2% from 2023 to 2033. The global two-component adhesives market is valued at $7 billion in 2023, and is anticipated to a valuation of $14 billion by 2033.
The market is expected to grow as two-component adhesives are increasingly used to replace traditional adhering methods such as manual screwing and soldering. Over the projected period, there will be numerous opportunities for the two-component adhesives market to grow due to rising consumer demand for low-VOC and low-carbon-emitting adhesives to reduce the environmental impact as well as the rising adoption of lightweight vehicles.
Reportedly, light-weighting trends in the automotive, transport, and aerospace sectors are fueling demand for two-component adhesives. Repair patches are attached to damaged airplane structures using two-component adhesives as well. Thus, expanding adhesive use in aircraft applications is also expected to fuel market growth over the forecast period.
The report identifies instability in the price of raw materials as a factor that could inhibit the sale of two-component adhesives. Adhesive raw materials are becoming more expensive due to rising prices of basic chemicals and intermediates, a massive reduction in local supply, and a high global demand.
The full report can be accessed here.