Specialty Adhesives Market Growth Accelerated By The Increased Adoption Across Various End-Use Industries

 
Specialty Adhesives Market 

Specialty adhesives find widespread applications in various end-use industries like construction, automotive & transportation, electronics, medical, and footwear & leather. They exhibit excellent bond strength and resistance to temperature changes. Specialty adhesives are used in wind turbine blade construction, bonding of composite materials in aircraft manufacturing, and electronic device assembly. The global specialty adhesives market exhibits high demand from original equipment manufacturers across industries. The global specialty adhesives market is estimated to be valued at US$ 3.95 billion in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the specialty adhesives market is their increased adoption in the construction industry. Rapid urbanization and infrastructure development projects in emerging economies are fueling the demand for specialty adhesives in construction applications like flooring, roofing, and glazing. Specialty adhesives provide durable bonding and help meet various regulatory standards. Furthermore, specialty adhesives reduce construction time and cost owing to their fast-curing properties. The growing construction industry in Asia Pacific and Middle East regions is expected to boost the consumption of specialty adhesives over the forecast period.
Here is the requested Segment Analysis and Key Takeaways without mentioning any market size, CAGR or conclusion for the given Specialty Adhesives Market:

Segment Analysis
The global specialty adhesives market analysis is dominated by the construction adhesives sub-segment which accounts for over 30% share. Construction adhesives offer strong bonds against various weathering effects such as extreme temperatures, moisture and UV exposure. They help reduce noise penetration and provide durable, reliable and reusable bonding for construction materials. Moreover, rising infrastructure development activities especially in emerging economies of Asia Pacific are driving the demand for construction adhesives in the specialty adhesives market.

Key Takeaways
The specialty adhesives market is expected to witness high growth over the forecast period supported by increasing demand from end-use industries such as automotive, construction and others.

Regional analysis: The Asia Pacific region currently dominates the specialty adhesives market accounting for more than 35% share driven by presence of major adhesive consuming countries like China and India. Rapid industrialization and infrastructure development projects underway in the region are propelling the demand for specialty adhesives.

Key players: Key players operating in the specialty adhesives market are PerkinElmer, Cardinal Health, Lantheus Medical Imaging, Bracco Imaging, NTP Radioisotopes, JSC Isotope, ANSTO, Nordion, Curium Pharma, IRE. These players are focusing on new product launches and expansion strategies to gain higher market shares.

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