Marine Adhesive Market

Market Overview:

The global marine adhesive market size reached US$ 475.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 680.9 Million by 2032, exhibiting a growth rate (CAGR) of 4.08% during 2024-2032. The rising demand for marine adhesives from the industrial sector, the increasing need for vessel modernization and maintenance, and the widespread adoption of marine adhesives in various shipbuilding applications represent some of the key factors driving the market.

Marine adhesive refers to a specialized type of adhesive or glue that is specifically designed and formulated for use in marine environments. It is an essential element for numerous maritime applications where waterproofing, sealing, and bonding are necessary. It is particularly designed to survive the harsh circumstances seen in maritime environments, including continuous exposure to water, salt water, humidity, very high or low temperatures, and the corrosive effects of seawater. The remarkable water resistance of marine adhesives is one of its key properties. It is designed to preserve its bonding strength even when immersed or exposed to a lot of moisture. Additionally, it shields the connected surfaces from water damage by preventing water penetration and maintaining its tight connection. It produces a reliable and long-lasting seal that stops leaks and water from entering important marine construction or vessel spaces. Moreover, it is powerful and long-lasting. It is widely utilized for metals, fiberglass, composites, plastics, wood, and other materials.

Marine Adhesive Market Trends:

The escalating demand for marine adhesives from the industrial sector majorly drives the global market. This can be supported by the increasing global trade, offshore exploration, and the need for vessel modernization and maintenance. Additionally, the widespread adoption of marine adhesives in various shipbuilding applications, including hull bonding, deck bonding, panel bonding, and structural bonding, is significantly supporting the market. In response to environmental concerns and rising fuel costs, the marine industry is actively seeking lightweight materials and fuel-efficient solutions. Marine adhesives offer an alternative to traditional mechanical fastening methods, allowing for lighter-weight designs and improved fuel efficiency, which is acting as another growth-inducing factor. In addition, the development of marine adhesives with superior performance characteristics, such as excellent resistance to water, salt, chemicals, and UV radiation, ensuring long-lasting bonding in challenging marine environments is positively influencing the market. Apart from this, the growing popularity of marine adhesives that are free from volatile organic compounds (VOCs), heavy metals, and hazardous substances due to the implementation of environmental regulations is contributing to the demand. Furthermore, the introduction of innovative adhesive technologies, such as hybrid adhesives, which combine the benefits of both structural adhesives and sealants, is creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global marine adhesive market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on resin type, substrate, application, and end use.

Resin Type Insights:

• Epoxy
• Polyurethane
• Acrylic
• Others
   

The report has provided a detailed breakup and analysis of the marine adhesive market based on the resin type. This includes epoxy, polyurethane, acrylic, and others. According to the report, epoxy represented the largest segment.

Substrate Insights:

• Plastics
• Composites
• Metal
• Others
   

A detailed breakup and analysis of the marine adhesive market based on the substrate has also been provided in the report. This includes plastics, composites, metal and others. According to the report, plastics accounted for the largest market share.

Application Insights:

• Deck Systems
• Glazing
• Panel Bonding
• Others
   

The report has provided a detailed breakup and analysis of the marine adhesive market based on the application. This includes deck systems, glazing, panel bonding, and others. According to the report, deck systems accounted for the largest market share.

End Use Insights:

• Cargo Ships
• Passenger Ships
• Boats
• Others
   

A detailed breakup and analysis of the marine adhesive market based on the end use has also been provided in the report. This includes cargo ships, passenger ships, boats, and others. According to the report, passenger ships represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for marine adhesive. Some of the factors driving the North America marine adhesive market included increasing global trade, continual technological advancements, rapid industrialization, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global marine adhesive market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 3M Company, Bostik SA, Gurit AG, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC (Huntsman Corporation), Illinois Tool Works, Parson Adhesives Inc., Scott Bader Company Ltd., Sika Services AG (Sika AG), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global marine adhesive market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global marine adhesive market?
• What is the impact of each driver, restraint, and opportunity on the global marine adhesive market?
• What are the key regional markets?
• Which countries represent the most attractive marine adhesive market?
• What is the breakup of the market based on the resin type?
• Which is the most attractive resin type in the marine adhesive market?
• What is the breakup of the market based on the substrate?
• Which is the most attractive substrate in the marine adhesive market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the marine adhesive market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the marine adhesive market?
• What is the competitive structure of the global marine adhesive market?
• Who are the key players/companies in the global marine adhesive market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the marine adhesive market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global marine adhesive market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the marine adhesive industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.