The moisture curing adhesives market was valued at USD 3.80 Billion in 2015 and is projected to reach USD 5.77 Billion by 2021, at a CAGR of 7.4% from 2016 to 2021.
The report "Moisture Curing Adhesives Market by Chemistry (Polyurethane, Silicone, Cyanoacrylate, Polyolefin), Application (Construction, Automotive, Wood Working, Textile, Others), and Region - Global Forecast to 2021"
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The moisture cure adhesives market is driven by the increasing demand from the construction, and automotive industries. The moisture cure adhesives market is witnessing high growth owing to the increasing demand for automobiles, superior advantages over conventional adhesives and increasing end-use applications such as footwear, wood working, and medical devices.
“Construction is the largest application segment of the moisture cure adhesives market”
The construction segment accounts for the largest share in the global moisture cure adhesives market, and is expected to be the second fastest growing segment for the forecast period. The construction segment is projected to drive the moisture cure adhesives market from 2016 to 2021 due to the increasing government investments in construction development, growing population, and the increasing usage of moisture cure adhesives in the construction application such as roofing, insulation, flooring, tiling, and wall covering. Whereas, the automotive segment is projected to be the fastest-growing segment owing to the rising demand for lightweight vehicles.
“Polyurethane is estimated to be the largest segment in the moisture cure adhesive chemistries market”
The moisture cure adhesives market is segmented on the basis of chemistries into, polyurethane, silicone, cyanoacrylate, and polyolefin. Polyurethane chemistry is estimated to be the largest segment in the moisture cure adhesives market as it is cost effective, and adherence to a wide range of substrates such as metal, synthetic resin, ceramic, mineral fibers, rigid foams, and cemented materials, among others.
“Europe is the biggest market for moisture cure adhesives”
Europe led the moisture cure adhesives market in 2015. The presence of a high end-use industry base, recovery in the construction industry, and increasing investments in infrastructure development drives the moisture cure adhesives market in the region. Moreover, increasing production of automobiles across countries in the region, and rising demand for lightweight vehicles is expected to lead to a significant growth in the demand for moisture cure adhesives.
The global market for moisture cure adhesives is led by players such as, Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), 3M Company (U.S.), Sika AG (Switzerland), Royal Adhesives & Sealants, LLC (U.S.), The Dow Chemical Company (U.S.), Illinois Tool Works Inc. (U.S.), Bostik SA (France), Dow Corning Corporation (U.S.), and Jowat SE (Germany), among others.
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