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High Temperature Adhesives market size is estimated to reach US$4.8 billion by 2027, after growing at a CAGR of 6.2% during the forecast period 2022-2027.
HYDERABAD, TELANGANA, INDIA, November 24, 2022 /einpresswire.com / -- The high temperature adhesives market size is estimated to reach US$4.8 billion by 2027, after growing at a CAGR of 6.2% during the forecast period 2022-2027. High-temperature adhesives are thermosetting polymers that use a chemical reaction to produce an immediate bond between two normally incompatible materials and it includes cyanoacrylate, epoxy, anaerobic, acrylic and thermo-oxidative stability. The replacement of mechanical fasteners with high-temperature adhesives in the automotive and aerospace industries is also contributing to the market's rapid growth. One of the primary driving reasons for the high-temperature adhesive market is the new uses of high-temperature adhesives in the expanding electronics sector. The replacement of mechanical fasteners with high-temperature adhesives in the automotive and aerospace industries is also contributing to the market's rapid growth. The covid-19 pandemic majorly impacted the high-temperature adhesives market due to restricted production, supply chain disruption, logistics restrictions and a fall in demand. However, with robust growth and flourishing applications across major industries such as transportation, building & construction and others, the high temperature adhesives market size is anticipated to grow rapidly during the forecast period.
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Key takeaways:
This IndustryARC report on the High Temperature Adhesives market highlights the following areas -
1. Asia-Pacific dominates the High Temperature Adhesives market size, owing to growing demand from end-use industries such as automobiles, building & construction and others, thereby boosting the demand for high-temperature adhesives in APAC during the forecast period.
2. A significant increase in consumer electronics spending is projected to have a significant impact on growth statistics of the high-temperature adhesives market in the electrical and electronics industry.
3. The automotive industry is expected to make steady progress in the global High-Temperature Adhesives market. This is due to the automobile industry's inherent requirement for lightweight vehicles to improve fuel efficiency.
4. However, low thermal resistance could hamper the market growth of the high-temperature adhesives market
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Segmental Analysis:
1. High Temperature Adhesive Market Segment Analysis – by Type : Epoxy held the largest share in the High Temperature Adhesives Market share in 2021 and is forecasted to grow at a CAGR of 6.7% during the forecast period 2022-2027, owing to extensive characteristics provided by epoxy over other material types such as silicone, acrylic, anaerobic, polyurethane and others. Due to its exceptional qualities, such as excellent adhesion, impact resistance, flexibility and chemical and solvent resistance, epoxy is frequently employed as a high-temperature resin.
2. High Temperature Adhesive Market Segment Analysis – by End-use Industry : Automotive held the largest share in the High Temperature Adhesives Market share in 2021 and is forecasted to grow at a CAGR of 7.2% during the forecast period 2022-2027, owing to the increasing usage of high-temperature adhesives in automotive components. High-temperature adhesives offer numerous benefits that will serve as growth pillars for the automobile industry.
3. High Temperature Adhesive Market Segment Analysis – by Geography : The Asia-Pacific held the largest share in the High Temperature Adhesives Market share in 2021 up to 42%. The flourishing growth of high-temperature adhesives is influenced by its major applications across major industries, along with growing development in automotive production and developed the base for high-temperature adhesives in APAC. The automotive sector in Asia-Pacific is rapidly growing due to a flourishing base for automotive manufacturers, demand for automotive compounds and production rise.
Competitive landscape:
The top 5 players in the High Temperature Adhesive industry are:
1. 3M
2. Avery Dennison Corporation
3. Bostik, an Arkema company
4. Dow
5. EpoxySet Inc.
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