Moisture curing adhesives market size will register commendable growth over 2021-2027, owing to the robust usage of the product in wood working and construction industries, as well as its significant advantages over regular adhesives. Moisture cure adhesives refer to adhesive solutions that react uniquely with moisture in the environment in order to cure. These adhesives are well suited for surfaces that are generally difficult to bond, including untreated metals, plastics without any polyethylene or polypropylene content as well as wood-based materials.
Increasing efforts by automakers worldwide to reduce the weight of their vehicles are contributing considerably to moisture curing adhesives market growth over 2021-2027. Moisture cure adhesives are highly versatile and are considered to be a high-quality automotive glue, for the bonding of various substrates, such as glass fiber-reinforced composites, aluminum, and carbon fiber composites, among others. The lightweight nature of these adhesives makes them suitable for the development of lightweight automotive designs, improving vehicle performance and for the bonding of lightweight materials that are critical to modern vehicles,
Construction is set to emerge as a major application segment for the moisture curing adhesives market by 2027. Moisture cure adhesives are used extensively in a range of construction-related activities, including roofing, tiling, flooring, wall covering and insulation. Based on estimates from According to the National Development and Reform Commission, the government of China approved nearly 26 infrastructure projects in 2019, with an estimated investment of USD 142 billion, which are set to be completed by 2023. Given the significance of the construction industry as an end-user for moisture cure adhesives, these escalating investments in infrastructure development are key factors powering industry dynamics.
From a regional perspective, North America is set to emerge as a lucrative revenue pocket for the moisture curing adhesives market, on account of the robust construction and wood-working sectors in the region. According to Plan Grid, over 1.2 million new housing units are planned in the United States each year, which could lead to a substantial upsurge in demand for moisture curing adhesive solutions over the years ahead. Furthermore, increasing demand for automotive vehicles, alongside heightening environmental concerns may augment regional industry outlook over the estimates timeline.
Key players in the moisture curing adhesives market include Henkel AG & Co. KGaA, The Dow Chemical Company, Dow Silicones Corporation (formerly Dow Corning Corporation), Illinois Tool Works Inc, Bostik SA, H.B. Fuller, 3M Company and Jowat SE. These market contenders are involved in various strategic initiatives such as collaborations and new product launches, to sustain a strong position in the competitive global market. For example, in June 2021, DuPont introduced BETASEAL 900EI, a new one-component, non-conductive, moisture curing polyurethane-based sealant and adhesive. The product was designed as an electrically-isolating adhesive for the assembly and service of EV battery packs and panels.
The onset of the coronavirus pandemic has to led massive setbacks for the global moisture curing adhesives industry, mainly due to worldwide disruptions in construction activities. The pandemic wreaked havoc across various sectors of the construction industry, leading to delays and halts in several construction projects. From January to May 2020, construction spending reduced by almost $68.4 billion, according to the Center for Construction Research and Training. However, with the construction sector gradually regaining its footing in the global economy, the impact from these disruptions is likely to ease, in turn paving the way recovery for the moisture curing adhesives industry as well. In the post-pandemic era, the evolution of the residential market which has seen many individuals as well as companies moving to new locations, moisture cured adhesives may once again witness significant demand, as important components in persistent construction activities.