According to the latest report by IMARC Group, titled, “Marine Adhesive Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global marine adhesive market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the marine adhesive market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 454.6 Million |
| Market Forecast in 2028 | US$ 595 Million |
| Growth rate (2023 to 2028) | CAGR of 4.53% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is marine adhesive?
Marine adhesive represents a specialized type of glue that is usually formulated for use in marine environments. It is an essential element for various maritime applications where sealing, waterproofing, and bonding are necessary. Marine adhesive is specifically designed to survive the harsh circumstances seen in environments, including continuous exposure to humidity, very high or low temperatures, and the corrosive effects of seawater. It preserves its bonding strength even when exposed to or immersed in moisture. Marine adhesive shields the connected surfaces from water damage by averting water penetration and maintaining its tight connection. It produces a long-lasting and reliable seal that stops leaks from entering important marine construction or vessel spaces. Marine adhesive is extensively utilized for fiberglass, composites, metals, plastics, wood, and other materials.
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What are the growth prospects and trends in the marine adhesive industry?
The growing offshore exploration and the inflating need for vessel modernization and maintenance are primarily driving the marine adhesive market. Additionally, the rising usage of this type of glue in shipbuilding applications, including deck bonding, hull bonding, panel bonding, and structural bonding, is further bolstering the market growth. Besides this, the widespread adoption of marine adhesives to produce lightweight materials and fuel-efficient solutions is acting as another significant growth-inducing factor. Moreover, they offer an alternative to traditional mechanical fastening methods, thereby allowing for lighter-weight designs and improved fuel efficiency. Apart from this, the introduction of marine adhesives with superior performance characteristics, such as excellent resistance to salt, chemicals, water, and UV radiation, is also positively influencing the global market. Furthermore, the development of product variants that are free from volatile organic compounds (VOCs), hazardous substances, and heavy metals is anticipated to fuel the marine adhesive market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Resin Type Insights:
- Epoxy
- Polyurethane
- Acrylic
- Others
Substrate Insights:
- Plastics
- Composites
- Metal
- Others
Application Insights:
- Deck Systems
- Glazing
- Panel Bonding
- Others
End Use Insights:
- Cargo Ships
- Passenger Ships
- Boats
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 3M Company
- Bostik SA
- Gurit AG
- B. Fuller Company
- Henkel AG & Co. KGaA
- Huntsman International LLC (Huntsman Corporation)
- Illinois Tool Works
- Parson Adhesives Inc.
- Scott Bader Company Ltd.
- Sika Services AG (Sika AG), etc.
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