Global Market Insights, Inc. adds a new Composite Adhesives Market research report for the period of 2018-2024 focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.
Composite Adhesives Market size should surpass USD 2 billion by 2024. Increasing application for replacing conventional binding and adhering techniques like mechanical bolt, fasteners and welds in automotive, marine, construction and aerospace industry should impel composite adhesives market size. Its growing popularity for various industrial application can be attributed to significant reduction in structural weight, fuel consumption and cost savings. Use of structural adhesives also shortens production cycle time and eliminate drilling hole on assemblies enhancing its structural strength.
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The recent partnership making waves in composite adhesives market is that of Hexcel and Arkema. Incidentally, both these companies have signed a strategic agreement for developing thermoplastic composite solutions for the aerospace sector. The partnership is an apt instance demonstrating the transforming legacy of material technology that has been profoundly augmenting composite adhesives market since the last few years.
The application spectrum of this business space is immensely vast – composite materials are prominently used across the aerospace, automotive, domestic appliances, marine, sports equipment, consumer electronics, biomedical, and construction sectors. It is prudent to mention that for every application, composite materials are deployed with a suitable perspective.
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The aerospace sector in particular, has been highly proactive to deploy advanced composite materials instead of conventional metals for attaining higher fuel efficiency as well as reducing operational costs and ecological footprints. Additionally, aircraft manufacturers are known to use effective adhesives for binding composite sub-components to maintain the structural integrity of mechanical components. With energy efficiency becoming a global mantra, weight reduction and performance enhancement are becoming highly pivotal for aircraft developers.
Composite based components also provide protection against lightning strikes – a factor that is crucial for the aerospace sector. Additionally, the business sphere highly demands extraordinary mechanical performance and better chemical resistance. Having recognized the same, major players in composite adhesives industry have been striving to develop highly cost-effective composites suitable for the aerospace business. Say for instance, Henkel, one of the leading participants of composite adhesives industry has been continuously collaborating with industrial customers to design integrated solutions for lightweight infrastructure.
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The sporting goods sector has turned out to be a surprisingly lucrative avenue for composite adhesives market. Sporting goods manufacturers are constantly looking for lightweight materials that can improve the performance of athletes and lead to lesser incidences of injury. Though plastics are more popular because of their moldability, sports equipment developers have now tuned to deploy composites owing to their higher durability, strength, lateral stability, and lightweight. Incidentally, composites are heavily used to develop bicycle frames, golf shafts, fishing rods, racquets, and snow skis already, enlarging the scope of composite adhesives industry.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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