As per a new research study by Transparency Market Research (TMR), the global market formoisture curing adhesives is registering a tremendous growth. The research report, titled “Moisture Curing Adhesives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” evaluates the key forces boosting the growth, obstacles faced by vendors, opportunities, challenges, prominent trends, and the market potentials to determine the performance and the future prospects of this market.
As per the research study, the increasing usage of moisture curing adhesives in the construction and the automotive sector is driving the growth of this market, substantially. Broadly, the global market for moisture curing adhesives can be analyzed on the basis of the application, chemical, and the regional spread of this market. Based on the chemical, the market can be classified into silicone, polyurethane, cyanoacrylate, and polyolefin. Currently, polyurethane is witnessing a comparatively higher demand than other and this trend is expected to remain so over the next few years, thanks to its cost efficiency and adherence to a wide array of substrates, such as synthetic resin, metal, ceramic, rigid foams, mineral fibers, and cemented materials.
Based on the application, the market can be categorized into the construction, wood working, automotive, and the textile industries. Among these, the automotive industry has surfaced as the leading consumer of moisture curing adhesives across the world. With the significant rise in the demand for automobiles, this trend is likely to remain so over the next few years, states the research study.
Based on the geography, North America has been dominating the global market for moisture curing adhesives. This regional market is likely to remain on the top over the forthcoming years due to the high demand from the construction sector. The increasing demand for vehicles is also projected to support this market in the years to come, states the research study.
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The research report also presents an exhaustive assessment of the vendor landscape prevalent in the global market for moisture curing adhesives. As per the study, Henkel AG & Co. KGaA (Germany), 3M Company (U.S.), H.B. Fuller (U.S.), and Sika AG (Switzerland) are the key vendors of moisture curing adhesives across the world. These companies are taking up aggressive marketing strategies to increase their market share and are shifting their focus towards strategic alliances, mergers, and acquisitions in the years to come, states the research report.