A recently published report by Fact.MR reveals that the global moisture curing adhesives market is projected to grow at a CAGR of 6% during the forecast period 2021-2031, reaching nearly US$ 10.74 Bn by 2031. Growth is majorly driven by high uptake in the construction industry.
The moisture curing adhesives industry registered a CAGR of 5% throughout the 2016-2020 historical period. Prospects somewhat dipped in 2020 during the coronavirus pandemic, given the recessionary trends induced in the aforementioned end use industries. However, projections are likely to experience a resurgence, as production activities gradually resume with the lifting of restrictions.
Future prospects are extensively reliant on the performance of the automotive and construction industries respectively. Forecast to be valued at US$ 8 trillion by 2030, the global construction industry is forecast to register almost 4% annual growth, with India, China and the U.S remaining at the forefront. Also, China is at the forefront of global automotive production, with a whopping 45% incline witnessed in 2021. Consequently, demand for high-grade and robust adhesives is inclining, laying fertile ground for moisture curing adhesives.
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Moisture Curing Adhesives Market: Segmentation
The study offers a detailed estimation and outlook of the moisture curing adhesives market based on composition, end-use industry, and region.
Composition
End-use Industry
Region
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Use in Medical Devices to Trigger Demand; Bio-based Alternatives Open New Opportunities
Growing application of moisture curing adhesives in the medical devices industry is opening new avenues of growth for market players. Increasing demand for moisture curing adhesives in this industry is mainly attributed to the rise in their adoption as a replacement for traditional fasteners used in medical devices.
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In its latest report, Fact.MR offers an unbiased analysis of the moisture curing adhesives market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
Market statistics have been presented on the basis of composition (silicone, polyolefin, cyanoacrylate and polyurethane) and end use industry (automotive, construction, textiles, wood working and others) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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