High Temperature Adhesives Market forecasts regional growth by 2023
The qualitative research study conducted by Global Market Insights, Inc. titled “High temperature adhesives market” provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global High temperature adhesives market.
Global high temperature adhesives market size is expected to reach over USD 4.5 billion by 2023 and is likely to witness gains with an estimated CAGR of over 4.55 from 2016 to 2023.
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Increasing application scope coupled with aerospace industry growth is likely to positively influence market growth. Adhesives used in aerospace applications are expected to operate in extreme environments. They are also likely to exhibit high-temperature capabilities for marinating the mechanical strength and structural integrity at intended service temperatures.Adhesives systems that meet some of these requirements can be based on polymers such as silicones, epoxies, phenolics and polyamides. Tile bonding for temperature protection in space shuttle is one such application in the aerospace industry.
Europe is likely to witness moderate gains over the forecast period owing to growth of automobile industry. Countries in this region such as UK, France and Germany are focusing to develop low weight automobiles by using high performance based plastics to curb emission levels. These aforementioned factors are likely to support market growth over the forecast period.
North America high temperature adhesives market is likely to witness steady growth rates over the forecast period. Growth of aerospace industry in the U.S. has led to the recognition of specific needs of high temperature adhesives. These include materials capable of withstanding temperature close to 500°C for several minutes during missile flight and adhesives able to endure temperatures of 250°C for several thousand hours on advance military aircraft.
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The global high temperature adhesives market share is fragmented with top companies competing with each other on the basis of prices coupled with product innovation to meet customer requirements. Key companies operating in this market include Dow Corning, 3M Company, Master Bond Inc. and Henket. Other prominent companies include Three Bond Corp. Ltd., Delo Industrial Adhesives, Permabond LLC and Cotronics Corp.
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