A report released by market research company MarketsandMarkets shows that the water mist curing adhesive market size was US$3.8 billion in 2015 and is expected to grow to US$5.77 billion by 2021. The compound annual growth rate between 2016 and 2021 is 7.4%.
Applications in the construction and automotive industries are the major catalysts for this market. In addition, the characteristics that are better than ordinary adhesives and more application expansion (such as footwear, wood processing, medical equipment) have also promoted the rapid growth of the water mist curing adhesive market.
From an application perspective, construction accounts for the largest share of the water mist curable adhesive market. This is mainly due to government investment in construction and the increased use of water mist curing adhesives in construction applications. The automotive industry’s share is growing fastest, as light-duty vehicles require lower volumes of these materials than larger volumes.
From the chemical composition point of view, polyurethane is estimated to be used most frequently. Water mist curing adhesives can be divided into polyurethane, silicone, cyanoacrylate and polyolefin based on their chemical composition. Among them, polyurethane is the most cost-effective and can be quickly bonded to various substrates such as metals and ceramics.
From a geographical perspective, Europe will become the largest market for water mist curable adhesives. In 2015, Europe occupied a dominant position, mainly due to the strong targeting of terminal industries, the recovery of the construction industry, and the increase in investment in infrastructure construction. In addition, growth in vehicle production in the region, especially light vehicles, also played a role.
Key players in the water mist curing adhesive market include: Henkel of Germany, Fuller of the United States, 3M of the United States, Sika of Sweden, Royal Adhesive Sealant of the United States, and the United States Dow Chemical, Illinois Tools of the United States, Bostik of France, Dow Corning of the United States, Glue King of Germany, etc.
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