(MENAFN- EIN Presswire) EINPresswire/ -- Allied Market Research has recently published a report, titled,“Metal Epoxy Putty Market by Type (Underwater Putty, and Surface-dwelling Putty), Application (Industrial, Marine, Automotive, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global metal epoxy putty market generated $317.5 million in 2022, and is anticipated to generate $455.8 million by 2032, witnessing a CAGR of 3.7% from 2023 to 2032.

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Prime Determinants of Growth

The increasing demand for durable repair solutions in industries such as shipbuilding, automotive, and manufacturing is boosting the growth of the metal epoxy putty market. However, the rising adoption of advanced polymers and composite materials is posing a competitive challenge and restraining the growth of the market during the forecast period. On the other hand, increasing demand for durable, efficient, and versatile materials in the expanding automotive and manufacturing industries is poised to unlock lucrative market growth opportunities in the future.

Leading Players in the Metal Epoxy Putty Market:

ITW

3M

Dampney Company Inc.

Henkel

Belzona

Jenolite

AW Chesterton Co.

SealXpert Products

Aremco

United Resin Corporation

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The report provides a detailed analysis of the key players of the global Metal Epoxy Putty Market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Type: Underwater Putty Sub-Segment to Hold Leading Market Share by 2032

This sub-segment is expected to hold a leading market share of 51.5% by 2032. This growth is mainly due to underwater putty's unique properties and versatile applications, making it a preferred choice for underwater repair and maintenance activities. Its effective adherence to metal surfaces, even in submerged conditions, has made it vital for industries operating in underwater environments.

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Application: Marine Industry Sub-Segment to Hold Highest Market Share by 2032

This sub-segment is expected to hold a dominating market share of 36.8% by 2032. The growth of the sub-segment is mainly because of metal epoxy putty's efficacy and reliability in addressing specific challenges within the marine sector. Its ability to adhere to different metal surfaces, withstand harsh marine environments, and provide durable repairs makes it indispensable for shipbuilding, vessel maintenance, and offshore infrastructure development.

By Region: Asia-Pacific to Hold the Significant Market Share in Forecast Period

The Asia-Pacific region dominated the global metal epoxy putty market in 2022, holding a major share of 42.1%. This is mainly due to rapid industrialization, infrastructure development, and a surge in shipbuilding and automotive activities, driving demand for metal epoxy putty. The region's dynamic economic landscape, coupled with investments in research and development, further bolsters market growth.

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