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
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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
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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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?
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