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3. New Product Launches Was the Major Strategy Adopted by Key Industry Players to Achieve Growth in the High-Performance Adhesives Market

Asia Pacific is the largest consumer of high-performance adhesives. Increasing population and technological advancements in the transportation and medical end-use industries are expected to fuel the growth of the high-performance adhesives market in Asia Pacific. China, Japan, and India are the major markets in Asia Pacific, with China estimated to be the largest market in terms of consumption of high-performance adhesives.

New product launches was the major strategy adopted by key industry players to achieve growth in the high-performance adhesives market between 2010 and 2016. This strategy accounted for a share of 51% of all growth strategies adopted by key market players. Companies adopted this strategy to provide improved products and develop high-performance adhesives for use across new applications. 3M (U.S.), Henkel (Germany), Illinois Tool Works (U.S.), Avery Dennison (U.S.), Sika (Switzerland), Bostik (France), H.B. Fuller (U.S.), Royal Adhesives and Sealants (U.S.) and Pidilite Industries (India) are some of the leading players that adopted this strategy between 2010 and 2016.

Besides new product launches, companies adopted other strategies such as investments & expansions, and partnerships, contracts, & agreements to increase their share in the high-performance adhesives market.

Acquisitions:

In February 2017, H.B. Fuller (U.S.) acquired Cyberbond LLC (U.S.), which helped H.B. Fuller increase its share in the cyanoacrylate high-performance adhesives technology market.

In June 2014, H.B. Fuller acquired TONSAN Adhesive, Inc., a company known for its silicone, epoxy, anaerobic, and cyanoacrylate technologies. This acquisition of TONSAN Adhesive adds value to H.B. Fuller’s fast-growing transportation adhesives business.

Expansions:

In March 2017, H.B. Fuller expanded its operations in India by opening an R&D center at its facility in Shirwal, Maharashtra. The expansion, worth USD 20 million, will strengthen the company’s business in the country and the neighboring regions.

New Product Launch:

In April 2017, Sika (Switzerland) launched its SikaFast-3300 and SikaFast-3500 Structural Methyl Methacrylate (MMA) high-performance adhesives for transportation and industrial assembly applications.

In September 2016, Henkel (Germany) introduced Loctite 3090, the first gap-filling instant cyanoacrylic high-performance adhesive in the market, capable of filling gaps up to 5 mm wide. Loctite 3090 overcomes the drawback of conventional cyanoacrylate adhesives that have low viscosity and no-gap filling parts.

In August 2016, Pidilite launched Fevikwik Gel, a variant in its Fevikwik series. Fevikiwk Gel has a higher viscosity compared to other products in the Fevikwik series and is especially useful where controlled application of adhesives is required.

In March 2016, Huntsman introduced the ARALDITE 2021-1 and ARALDITE 2022-1 two-component methacrylate adhesive systems for vehicle manufacturers. These two-component, toughened, methacrylate adhesive systems replaced ARALDITE 2021 and ARALDITE 2022 and will help the automotive aftermarket increase productivity and performance on structural adhesive applications.

In March 2015, ITW launched MA515, a product used for bonding small- and medium-sized composite and thermoplastic assemblies. It is used to eliminate the problems associated with the bonding of materials such as carbon fiber, polyamide, and poly-dicyclopentadiene (PDCPD).

Related Reports:

High-performance Adhesives Market by Type (Epoxy, Polyurethane, Acrylic, Silicone), End-use Industry (Transportation, Packaging, Electronics, Construction, Medical), Technology (Solvent-based, Water-based, Hot-melt) and Region - Global Forecast to 2022

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