Moisture Curing Adhesives Market – Increasing Use in Medical Devices to Promote Growth | Technavio
LONDON–(BUSINESS WIRE)–#Research–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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