Global Marine Adhesives Market: Industry Analysis And Forecast 2020 – 2026

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Global Marine Adhesives Market: Industry Analysis and Forecast 2020 – 2026

Global Marine Adhesives Market size was valued at US$ XX Mn. in 2019 and is expected to grow at a CAGR of 5.83% over 2020-2026, to account for US$ 512.45 Mn. in 2026.

Global Marine Adhesives Market

Global Marine Adhesives Market

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Global Marine Adhesives Market Overview:

The marine adhesive is a special quality adhesive that provides high effectiveness in conditions including overexposure to saline & moisture water. Marine adhesives have superior qualities like elasticity, high bond strength, and chemical inertness.

Looking forward, the global marine adhesives market is projected to reach a value of US$ 512.45 million by 2026, expanding at a CAGR of around 5.83% during 2020-2026 thanks to the growing usage of cargo ships. Expansion in worldwide cargo trade along with an increasing number of trade blocks has improved the market for marine adhesives growth. Furthermore, development in intra-regional merchandise trade has boosted the product demand. The global industry of offshore vessel was worth US$ 15.8 Bn. in 2017 and is expected to reach US$ XX.13 Mn. by 2026.

Technological development over many industrial R&D initiatives, because of shifting trend for sustainable products will fuel the industry size. Such as, Sika developed ‘i-Cure’ technology for ship-building to create adhesives work easier in 2016. The EU stringent regulatory norms and REACH on the product necessities and usage has boosted the product demand.
Covid-19 Impact on Global Marine Adhesives Market:

The global marine adhesives market has slowed down due to a decrease in demand because of the COVID-19 pandemic. Limitations imposed by governments to comprise the spread of COVID-19 have posed a negative impact on the marine adhesives market globally.
The raw material is an important part of manufacturing activities in this space. Due to constraints on transportation and travel, companies have suffered a shortage of raw material. This, in turn, led to the lockdown of manufacturing activities. Moreover, disruption of the variations and supply chain in taxes and currencies have further caused the situation.
Global Marine Adhesives Market Segmentation:

Based on the vessel, the boat segment is estimated to account for XX% of the total market share in 2019 and is expected to grow at the highest CAGR of 7.10% during the forecast period. This growth is attributed to growing disposable income and rising spending on leisure & recreational activities, the population in various countries across the world is likely to engage in recreational boating activities. This, in turn, will create many growth opportunities for the boat vessel segment.
By resin type, the polyurethane is expected to reach US$ XX.21 Mn. by 2026 at a CAGR of 6.45% over the forecast period thanks to the growing use of polyurethane adhesives in the deck to general-purpose bonding, hull bonding, glass window bonding and above and below the waterline. Likewise, the MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the marine adhesives market size.

Global Marine Adhesives Market
Global Marine Adhesives Market Regional Analysis:

Asia-Pacific region is expected to hold the XX% largest growth rate in the forecast period of 2020 to 2026 owing to upward economies like China and the Philippines in the region. Various key players in the marine adhesive market are shifting their production bases to the APAC, thanks to the ease of serving developing local markets and the low cost of production. The global industry for shipbuilding is projected to be led by the APAC and particularly by Japan, China, and South Korea, because of strong government backing, cheaper wages, and strong backward and forward linkage industries.
Competitive Landscape:

The competitive landscape section in the marine adhesive market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects about the key players having a stronghold in the global marine adhesives market.
The objective of the report is to present a comprehensive analysis of the Global Marine Adhesives Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Marine Adhesives Market dynamics, structure by analyzing the market segments and project the Global Marine Adhesives Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Marine Adhesives Market make the report investor’s guide.

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Global Marine Adhesives Market Details
Global Marine Adhesives Market, by Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Global Marine Adhesives Market Key Players

• Henkel
• Sika
• 3M
• Illinois Tool Works (ITW)
• H.B. Fuller
• Huntsman
• Bostik
• Ashland
• LORD
• Scott Bader
• Gurit
• MAPEI
• Permabond
• SCIGRIP
• Master Bond
• Parson Adhesives
• Hernon Manufacturing
• Weicon
• Riëd
• Engineered Bonding Solutions
• HYBOND Adhesives
• Chemique Adhesives
• Anabond
• SABA Dinxperlo
• Gougeon Brothers

 

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