Cyanoacrylate Demand to Increase, Giving Tailwinds to Moisture Curing Adhesives Sales through 2030
The moisture curing adhesives market study by Fact.MR offers detailed insights into key growth drivers and restraints impacting the market through 2030. The survey offers moisture curing adhesives demand outlook and uncovers hidden opportunities across various market segments, including composition and end use. It also highlights strategies adopted by market players to increase moisture curing adhesives sales.
NEW YORK, Sept. 28, 2021 /PRNewswire/ — The global market for moisture curing adhesives is poised to expand at a CAGR of 6% over the forecast period 2020-2030. Its overall valuation totalled US$ 5 billion in 2020.
The moisture curing adhesives market is expanding at a steady pace on account of the increasing demand from construction and automotive industries. Also, improving scope for applications in diverse industries, ranging from textile to footwear is creating a conducive environment for growth.
Besides these, growing demand for furniture and wooden flooring in residential and commercial sectors is giving tailwinds to sales. Among various compositions, polyurethane usage remains highly sought-after in the construction industry owing to its high strength properties.
Manufacturers operating in the market are increasingly investing in research and development activities to develop innovative moisture curing adhesives with industry-specific features. For instance, in 2019, Jowat announced the launch of new biobased hot melt adhesives namedJowatherm-Reaktant® GROW. It is touted as the first reactive polyurethane hot melt adhesive derived from renewable raw materials and meant for textile lamination.
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According to the study, the North America market is anticipated to demonstrate rapid growth over the forecast period. Demand outlook for the U.S. market remains positive, which surpassed a valuation of US$ 1.5 billion in 2019.
“As competition continues increasing in the moisture curing adhesives market, market players are expected to focus on product differentiation. Some are emphasizing on new launches to cater to the industry-specific requirements,” says a Fact.MR analyst.
Key Takeaways from Moisture Curing Adhesives Market Survey
- North America will emerge as a highly lucrative market, accounting for over 1/4th of the total market share by 2030.
- Demand in China is likely to grow at 10% CAGR over the forecast period 2020-2030.
- Driven by rapid expansion of the construction industry, Asia Pacific will rise at an impressive CAGR over the forthcoming years.
- Based on composition, the demand for polyurethane is expected to rise at a steady pace due to its high-water resistance capacity.
- The global moisture curing adhesives market totalled US$ 5 billion in 2020.
- Increasing demand from construction and automotive industries is driving sales of moisture curing adhesives.
- As governments implement stricter regulations for pollution control, manufacturers are expected to shift focus to environment-friendly raw materials. This will create opportunities for growth of the market in the coming years.
- Negative impacts of urethane used in adhesives on the eco system and stringent regulation implemented to curb pollution are likely to hamper the market growth.
- Presence of bio-based alternatives to urethane glues may restrict the market growth.