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Marine adhesives are adhesives employed for marine applications. High bond strength between materials, strength against UV rays, elasticity, ability to absorb vibrations and impact, and high compatibility with paints are some of the advantages achieved thru application of marine adhesives. Marine adhesives are special adhesives that are highly effective in environments involving exposure to moisture and water. These adhesives are widely employed in new construction or repair works of water vessels such as commercial boats, leisure boats & yachts, cruise ships, and ferry boats. Marine adhesives form an integral part of the vessel they are used for, as security, stability, and ability of the vessel is impacted by the quality of adhesives used. Marine adhesives are responsible for providing durability, stability, strength, and weather resistance to bonds between teakwood and artificial decks, portholes & windows, deck to spider hulls, and inflatables. However, many marine adhesives have a prescribed temperature range; they can be used within the prescribed temperature range. This restricts their applications.

Based on the type of product, the market for marine adhesives can be divided into contact adhesives and epoxy adhesives. Contact adhesives immediately stick to the surface they are applied on, and harden quickly. Due to this, contact adhesives are highly favorable for running repairs, i.e. for repairs when the vessel is in motion. However, contact adhesives cannot be used as a temporary measure. They cannot be reworked upon if something goes wrong. Contact adhesives usually do not work well at high temperatures; thus, they are not ideal for high temperature applications. Epoxy adhesives are a mixture of two substances, which are not adhesives originally, but become adhesives when mixed together. Epoxy adhesives set up more quickly at higher temperatures. At normal working temperatures, epoxy coatings take long time to harden. As a result, they are an ideal choice in applications that involve replacement and removal of parts on a trial and error basis in order to find the correct fit. Currently, the epoxy adhesives segment accounts for major share of the marine adhesives market. The segment is anticipated to expand at a steady pace during the forecast period.

Based on the area of application, the marine adhesives market can be bifurcated into above deck and below deck. Above deck applications refer to all the parts and areas of the vessel that are not submerged in water and do not come in direct contact with water. Above deck application areas and parts include artificial decks, windows, portholes, and structural areas such as deck to spider hull. Below deck applications refer to parts and areas that may be submerged in water or come in direct contact with water. Below deck application areas include areas such as shower rooms. Currently, the market is dominated by the above deck segment. The segment is estimated to continue its dominance during the forecast period.

In terms of geography, the marine adhesives market can be divided into North America, Europe, Asia Pacific, Latin America, Europe, and Middle East & Africa. Asia Pacific is the major consumer of marine adhesives. Countries such as China, South Korea, Japan, the Philippines, Taiwan, and Vietnam are among the key producers of ships and other water vessels in the region. Asia Pacific is followed by Europe in terms of consumption of marine adhesives. Germany and Italy are among the primary producers of water vessels in Europe. Asia Pacific is anticipated to continue its dominance in the market. The marine adhesives market in the region is projected to expand at a steady pace during the forecast period.

Key players operating in the global marine adhesives market include Henkel, Engineered Bonding Solutions, Sika, 3M, Chemique Adhesives & Sealants, ITW, Huntsman, H.B. Fuller, WEICON, Ashland, Bostik, LORD Corporation, Scott Bader, and MAPEI.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Marine Adhesives Market

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