According to a new report, published by KBV research, The Global Composite Adhesive Market size is expected to reach $4.6 billion by 2030, rising at a market growth of 5.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 876.64 Kilo Tonnes, experiencing a growth of 3.8% (2019-2022).
The Epoxy segment is generating the highest revenue in the Global Composite Adhesive Market, by Product in 2022; thereby, achieving a market value of $1.6 Billion by 2030. Epoxy adhesives are compatible with various materials, including metals, composites, plastics, and ceramics. This versatility makes them a preferred choice in industries where bonding dissimilar materials is common, such as automotive assembly, where different materials are used for lightweight and design optimization. Hence, these factors will lead to increased demand in the segment.
The Automotive & Transportation segment is experiencing a CAGR of 4.5% during (2023 - 2030). Automotive applications often involve bonding materials such as metals, composites, and plastics. Composite adhesives are known for their versatility and compatibility with various materials, making them suitable for various bonding applications in vehicle assembly. This adaptability enhances the overall performance and durability of bonded components. Therefore, these factors will lead to increased growth in the segment.
Full Report: https://www.kbvresearch.com/composite-adhesive-market/
The Asia Pacific region dominated the Global Composite Adhesive Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.2 Billion by 2030. The North America region is anticipated to grow at a CAGR of 4.1% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 4.5% during (2023 - 2030).
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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