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Curing Adhesives Market - What are the main factors that contributing towards industry growth?

Author : Rahul Varpe | Published Date : 2019-04-01 

Curing adhesives market from automotive application segment is anticipated to witness strong gains due to its property of bonding on automobile surfaces. Automobile industry sales are poised to surpass 100 Million by 2024. Rapid population growth, design changes in automotive equipment and development in transportation methods may positively influence industry growth. 

Curing adhesives market size from electronics application is likely to witness substantial gains due to its usage in electronic assembly applications owing to its superior dielectric properties and high thermal stability. The electronics and electrical market is anticipated to reach USD 40 Billion by 2024. Growing adoption of wearable electronics and growing use of smart electronic devices is likely to fuel the electronic device market. 

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Curing Adhesives Market size is projected to witness high growth in the forecast timeframe owing to its ability to be used as bonding substances like wood, glass, metal and fibre. Its application in automobile spare parts, furniture and textile industry is likely to drive the product demand in the projected timeframe.

Water based curing adhesives market size may witness high gains due to its rapid cure time, high bond strength and ability to withstand high temperatures, which can be beneficial for furniture industry.

Global medical device market is estimated to reach USD 410 Billion by 2024. Growth in healthcare expenditure and increasing health awareness may propel the medical device market. Curing adhesives market size is likely to show sizable gains owing to its application in production processes of medical devices due to its ability to improve reliability and durability. They also help in strengthening productivity and increasing the quality of medical devices, thereby driving curing adhesives market growth.

Packaging sector is a major application for curing adhesives market due to its high bonding strength and high durability under adverse environmental conditions which may boost product demand in the forecast timeframe. Growth of quick service restaurants and use of better packaging and case ready packaging practices may further augment the packaging industry, there by driving product demand.

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North America led by Canada, Mexico and the U.S. curing adhesives market size, is anticipated to show high gains owing to large number of industry players and increasing infrastructural development. Significant changes in standards of living and rising technological innovations may also bolster regional product demand.

Curing adhesives market share is moderately consolidated with major industry participants including Dow Corning Company, H.B Fuller, Henkel Adhesives, 3M Company and Bostik S.A., Dymax Corporation, Franklin International, Illionois Tool Works and Lord Corporation.  Companies are collaborating with manufacturers and raw material suppliers to strengthen their market presence and striving to cater economical and quality products to consumers.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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