Marine Adhesives Market to Generate Heightened Revenue Prospects for Manufacturers in the Next Decade : FactMR

As per Fact.MR – a market research and competitive intelligence provider, the global marine adhesives market is expected to grow 1.5X in value by 2031. Marine adhesives display higher bonding strength, elasticity, greater absorption of vibrations and impact, strong affinity with paints, and resistance to UV rays. These factors, along with their high compatibility with environmental factors such as exposure to moisture and water, make these adhesives a viable option for varied uses in the marine industry.Marine adhesives are extensively used in the construction and repair of naval vessels such as commercial boats, cruise ships, yachts, leisure boats, and ferries. They are also used to enhance the durability, strength, stability, and water resistance of bonds in decks, windows, portholes, spider hulls, and inflatables.

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marine adhesives market by FactMR

Key Segments Covered in Marine Adhesives Industry Research

By Resin

  • Marine Epoxy Adhesives
  • Marine Polyurethane Adhesives
  • Marine Acrylic Adhesives

By Substrate

  • Marine Adhesives for Metals
  • Marine Adhesives for Composites
  • Marine Adhesives for Plastics

 

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Key Takeaways from Market Study

  • Current market valuation of marine adhesives stands at US$ 323 Mn.
  • Demand for marine polyurethane adhesives to remain high across assessment period.
  • Market in Asia Pacific expected to amass a major share due to low production cost, better marine vessel manufacturing facilities, and increasing naval bases in the region.
  • Marine adhesives can be used only within specific temperatures, causing major restrictions in their applicability.
  • Demand in China to expand at CAGR of 6% across analysis period

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Winning Strategy 

Major Players are focused on creating marine adhesives that offer better strength and efficiency. They are working on innovating and developing adhesives that can be used in varying temperature ranges. Increased spending on leisure activities has contributed to the growth of the marine sector, which is directly aiding market expansion. Popularity of underwater sports has increased opportunities for players due to rising equipment innovations. Players are now focused on launching innovative and advanced products.

Some of the key players in the global market are Engineered Bonding Solutions, Henkel, 3M, Sika, ITW, Ashland, LORD Corporation, Scott Bader, Permabond, Bostik, H. B. Fuller, Huntsman, Anabond, Gurit, Master Bond, Hernon Manufacturing, Parson Adhesives, Chemique Adhesives & Sealants, MAPEI, and Gougeon Brothers.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/12/1999656/0/en/Sheet-Metal-Sales-to-Soar-Steadily-Through-2029-Demand-Buoyed-by-Lightweight-Component-Materials-Fact-MR.html

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