LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global moisture curing adhesives market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global moisture curing adhesives market will grow at a CAGR of more than 7% during the forecast period. The rising infrastructural government projects is a major factor driving the market’s growth.
Moisture curing adhesives are usually used in bonding substrates such as marble and concrete. The global construction industry is growing at a faster pace due to the major contribution from emerging countries. In 2016, the global construction market was valued USD 8.82 trillion in terms of revenue. The emerging countries have contributed to approximately 52% share of the global construction industry in 2016. The governments of these countries are investing substantially in residential homes because of the high migration of people toward the metropolitan cities in search of jobs, better lifestyle, and other amenities.
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In this report, Technavio highlights the growing use of adhesives in medical devices as one of the key emerging trends driving the global moisture curing adhesives market:
Growing use of adhesives in medical devices
The high demand for moisture curing adhesives in the medical application is anticipated to drive the demand for moisture curing adhesives during the forecast period. Moisture curing adhesives are used as substitutes for traditional fasteners in the medical industry applications because of their properties such as better resistance to the sterilization process. The new adhesive technologies are developing at a faster rate for the reusable medical device market.
“The devices such as disposable electrocardiograph electrodes and grounding plates are made from engineering resins such as polyphenylene sulfide, polyolefins, and metals such as aluminum, titanium, nickel, and stainless steel. Owing to the increase in the population and changing lifestyle, there has been an increase in the spending in the medical sector,” says a senior analyst at Technavio for research on additives, adhesives, and sealants.
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Global moisture curing adhesives market segmentation
This market research report segments the global moisture curing adhesives market into the following applications (construction, automotive, woodworking, and textile) and key regions (the Americas, APAC, and EMEA).
The construction application segment dominated the global moisture curing adhesives market in 2017 with a market share of more than 26%. The automotive segment held the second largest share in the market.
APAC contributed the largest share to the market, accounting for approximately 39% of the market share. The Americas accounted for the second largest share in the market, and it was followed by EMEA that held the least share in the market.
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