The Europe Composite Adhesive Market would witness market growth of 4.5% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 94.16 Kilo Tonnes, showcasing a growth of 3.5% (2019-2022).
A prominent trend in the market is the increasing emphasis on sustainability. As industries commit to reducing their environmental footprint, there is a growing demand for adhesives that are not only high-performing but also environmentally friendly. Manufacturers are investing in developing bio-based and recyclable composite adhesives, aligning with the broader sustainability goals of end-users. With technological advancements and evolving industry requirements, there is a rising demand for these that offer exceptional performance characteristics. This includes adhesives with enhanced temperature resistance, improved bonding strength, and compatibility with a broader range of materials.
The aerospace and automotive industries, in particular, are driving the demand for high-performance adhesives to meet the stringent requirements of their applications. Furthermore, the demand for high-performance composite adhesives is intrinsically linked to the quest for superior bonding strength. In aerospace and automotive manufacturing, structural integrity is paramount. The adhesive used need to not only endure extreme environmental conditions but also provide robust bonding that can withstand dynamic forces, vibrations, and mechanical stresses. As a result, there is a growing emphasis on developing adhesives with enhanced bonding strength, contributing to assembled components' overall durability and longevity.
With the expansion of the aerospace sector in France, there may be increased opportunities for suppliers of these adhesives. This could lead to growth in the market as manufacturers seek reliable and innovative solutions to meet the industry's demands. As per the International Trade Administration, for 2021, the French civil aerospace industry recorded a modest gain in revenue, reaching €35.66 billion out of a total of €55.2 billion in non-consolidated aerospace and defense revenues. This represents an improvement over the previous year, 2020. The aerospace and defense industry are responsible for around 68% of its total consolidated turnover, while the civil sector accounts for 69% of its income. A 68% rise in orders was seen in 2021 compared to 2020. Thus, increasing aerospace industry in Europe will boost their demand in the region.
The Germany market dominated the Europe Composite Adhesive Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $207.5 Million by 2030. The UK market is exhibiting a CAGR of 3.6% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.3% during (2023 - 2030).
Free Valuable Insights: The Global Composite Adhesive Market will Hit USD 4.6 Billion by 2030, at a CAGR of 5%
Based on Product, the market is segmented into Epoxy, Acrylic, Polyurethane, Cyanoacrylate, and Others. Based on Application, the market is segmented into Aerospace & Defense, Automotive & Transportation, Electrical & Electronics, Construction & Infrastructure, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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