With the emergence and long-term Impact of COVID-19, Global Marine Adhesives Market to reach USD 704.00 Million by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Marine Adhesives Market is poised to raise up to USD 704.00 Million by 2030. Marine adhesives are specialized types of adhesives or bonding agents designed for use in marine environments. They are specifically formulated to provide strong and durable bonds in applications that involve water, moisture, and exposure to harsh conditions typically encountered in marine settings. Marine adhesives offer several characteristics that make them suitable for bonding and sealing various materials used in boat construction, repair, and maintenance.
These adhesives are typically resistant to saltwater, chemicals, UV radiation, and temperature fluctuations. They provide excellent adhesion to a wide range of substrates commonly found in marine applications, including fiberglass, aluminum, steel, wood, and plastics. The Marine Adhesives market is expanding because of factors such as flourishing global shipbuilding and marine industry and growing leisure marine and recreational boating Industry worldwide.
Geographically, the global Marine Adhesives market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to factors such as rising marine spending, rising volume of marine output, rising sea trade activities. Whereas, Europe is witnessing significant growth in the market owing to factors such as rising shipping fleet, rising import and export trade activities, rising waterways travel activities in the region.
The global Marine Adhesives market is highly competitive owing to the presence of several key manufacturers such as LOTTE Chemical Corporation, Fujia Group, Banner Chemicals, Exxon Mobil Corporation, SK global chemical Co. Ltd., Total Energies and others.
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Key findings of the study suggest:
- Global Marine Adhesives Market is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030.
- In the Resin Type segment, Epoxy emerged out as the leading market segment in 2022.
- In the Substrate, Plastics emerged out as the leading market segment in 2022.
- In the Vessel segment, Cargo Ships emerged out as the leading market segment in 2022.
- In the Application segment, Passenger Ships emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth Owing to rising volume of marine output, rising sea trade activities.
- Europe is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Resin Type:
- Epoxy
- Polyurethane
- Acrylic
- Others
Substrate:
- Plastics
- Composites
- Metal
- Others
Vessel:
- Cargo Ships
- Passenger Ships
- Boats
- Others
Application:
- Deck Systems
- Glazing
- Panel Bonding
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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