Market Definition and Introduction
Moisture curing adhesives are chemicals that particularly have the ability to absorb the atmospheric moisture so that the materials are not damaged or corroded. They usually consist of non-volatile urethane prepolymers. The curing reaction is triggered by the moisture itself. Moisture curing adhesives range from rigid and hard to flexible and soft, depending on the application and the formulation. Moisture curing adhesives have become an important part of almost every end-use industry as moisture is always considered unhealthy for the long operating life of the materials. Some of the significant applications of moisture curing adhesives are the installation of windshield glass in the automobiles and the bonding of polycarbonate (plastic) window panes to an aluminium ship structure. Moreover, recently, the moisture curing adhesive hot melts are introduced so that the combination of the improved heat resistance of the adhesives and initial strength of the hot melts can be achieved, which is estimated to boost the demand of the overall market over the forecast period. The global moisture curing adhesives market in the emerging regions is expected to be driven by foreign direct investments for industrial and constructional activities. According to the statistics of Global Finance Magazine, in India, the contribution of the industrial sector to the GDP of the country increased from 24.8% in 2012 to 25.8% in 2015. With the flourishing industrial sector, including manufacturing, mining, construction, utilities and oil and gas, demand for moisture curing adhesives in the global market is expected to increase during the forecast period. As a result, many companies are entering the market in Asia-Pacific and Africa with a hope to capitalise on these demands and expand their geographical footprint.
On the basis of Product Type, the global moisture curing adhesives market is segmented as follows: Polyurethane Silicone Cyanoacrylate Others (Polyolefin, etc.)
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On the basis of End Use, the global moisture curing adhesives market is segmented as follows: Automotive Construction Carpentry & Wood Working Textiles Others (Electricals & Electronics, Agriculture, Etc.)
Currently, the manufacturers of moisture curing adhesives systems have been focusing aggressively on innovative product developments to develop and launch new moisture curing adhesives systems that are strong and provide proper moisture curing. It should be noted that the demand for new automobiles is being fuelled by the ever rising number of international as well as domestic passengers along with the increasing fast transportation. This increase in demand for new vehicles will, in turn, fuel the global demand for moisture curing adhesives systems in future. In developed economies, the consumers are looking for products with advanced diagnosis and automation. Through process R&D and product innovation in advanced telematics systems, manufacturers have significantly improved their response time for such custom requirements from clients. This trend is expected to gain traction across the global market and create tremendous opportunity in the near future, and in turn fuel the market growth of moisture curing adhesives.
Prominent market players in the global market are trying to develop strong and long-lasting moisture curing adhesives for all the end-use industries. The advancement in the material science technologies in the manufacturing industries have enabled them to use newly invented materials, such as derivatives of urethane, which makes the product moisture free and has good heat resistance under extreme conditions.
However, the relatively higher price of advanced moisture curing adhesives systems is proving to be a deterrent for smaller, low-budget construction projects. This particular factor is seen to be hampering the growth rate of the global moisture curing adhesives systems market. Europe & North America are estimated to be the prominent markets for the growth of moisture curing adhesives. The good presence of all end-use sectors coupled with the recovery of the construction industry and the growing investment for infrastructure projects is estimated to drive the demand of moisture curing adhesives over the forecast period. Additionally, the increasing production of automobiles in key geographies, such as China, India, Brazil, Japan and many more is anticipated to augment the global moisture cure adhesives market in the near future.
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Examples of some of the market participants operating in the global moisture curing adhesives market are as follows: 3M Company Sika AG. Royal Adhesives & Sealants, LLC. B. Fuller Dow Chemical Company Illinois Tool Works Inc. Henkel AG & Co. KGaA Bostik SA Dow Corning Corporation Jowat SE Hoffmann Group
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