Report Code: A10808 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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Marine adhesives are special quality adhesives that offer high effectiveness in conditions involving over exposure to moisture and saline water. These adhesives have superior qualities such as high bond strength, elasticity and chemical inertness. Moreover, marine adhesives also have the ability to absorb vibrations and impacts. Marine adhesives are extensively used in the production of commercial boats, vessels, yachts, cruise ships and ferryboats.
COVID-19 scenario analysis:
The global marine adhesives market has been severely affected by the outbreak of the COVID-19 pandemic around the world.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for driving the growth of marine adhesives market is the growing usage of cargo ships, vessels and passenger ships for different purposes such as transportation. In recent past there has been a rapid expansion in the global cargo trade and a steep growth in intra-regional trades for various products. In addition, to promote the marine sports and international relations, the developed economies such as the U.S., Australia, and Switzerland have started marine adventure sports. These sports are gaining wide popularity among the people. As a result, the increasing usage of sports ships, boats and cruise has reported an increase in the use of (epoxy) marine adhesive; owing to its quick harden property. This may propel the growth of marine adhesives market during the forecast period. Also, ongoing research and development programs to develop better quality marine adhesives for instance Sika developed i-Cure technology to make the application of adhesives works simpler. This is one of the key growth drivers of this market. However, the fluctuating prices of the raw materials might act as a restraining factor for the market.
The Asia-Pacific region accounts for the major share of the global marine and ships market. This is because of the frequent applications of ships and water boats in the region and the high demand for marine adhesives in the shipbuilding industries of the region. Also, the increase in marine trade related activities in countries like China, India and others, to meet the growing population demand is expected to create new opportunities in the region. Furthermore, the Middle-East countries are anticipated to witness surge in export of oil through sea routes. Attributed to the use of marine adhesives in oil tankers to prevent any leakages may fuel the market growth in the region.
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Questions answered in the Marine Adhesives Market research report:
Marine Adhesives Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Resin |
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By Substrate |
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By Vessels |
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By Application |
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By Region |
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Key Market Players | Avery Dennison, Henkel AG & Company, Adshead Ratcliffe & Co, SABA, Sika, H.B. Fuller, Royal Adhesives & Sealants, Illinois Tool Works, Bostik Marine, Dow Corning Corporation, 3M, RPM International, Franklin International |
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