Marine Adhesives Market: Global Size, Share, Trends, Growth and Forecast 2022-2032

Marine Adhesives Market: Overview and Definition

The global marine adhesives market size was valued at USD 370.5 Mn in 2021 and is expected to grow USD 620.7 Mn in 2032, at a CAGR of 5.5% over the forecast period  2022-2032. Marine adhesives have a great history in marine and shipbuilding industries as it provides protection against weather, chemicals, water and environmental degradation. Moreover, todays adhesives have improved as it provides a strong lightweight bonds to watertight sealing and structural components between substrates. Continuous improvement in the structural bonding capabilities has increased the use of lightweight one-piece composite hull by diminishing the construction time and improving the aesthetics.  Moreover, flexibility, durability, and longevity of bonded parts have also improved as the use of adhesives have been increased. Latest adhesives have seen some innovations such as improved UV and chemical resistance along with vibration and noise dampening.

The marine adhesives market is a growing sector within the global adhesives industry. Marine adhesives are specifically designed for use in the marine environment, where they must be able to withstand harsh conditions such as saltwater, UV exposure, and extreme temperatures.

The market is driven by the increasing demand for marine adhesives in the shipbuilding and repair industry, as well as in the offshore oil and gas industry. The use of marine adhesives in boat building, yacht construction, and repair has also increased significantly in recent years. Additionally, the growing demand for eco-friendly and sustainable products has led to the development of bio-based marine adhesives.

Marine Adhesives Market: Key Drivers

The marine adhesives market is driven by several key factors, including:

Increasing demand for lightweight and fuel-efficient ships: The marine industry is increasingly looking for ways to reduce the weight of ships and improve fuel efficiency. Marine adhesives offer a lightweight solution, which can help reduce fuel consumption and operating costs.

Growing demand for recreational boats: The demand for recreational boats is on the rise, which is driving the growth of the marine adhesives market. Marine adhesives are used in the construction and repair of boats, and the increasing demand for these boats is driving the demand for marine adhesives.

Rising use of composites in marine applications: Composites are increasingly being used in marine applications, as they offer high strength and lightweight properties. Marine adhesives are used to bond composite materials, and the growing use of composites is driving the demand for marine adhesives.

Increasing use of offshore oil and gas resources: The offshore oil and gas industry is a key user of marine adhesives, as these adhesives are used in the construction and maintenance of offshore structures. The increasing use of offshore oil and gas resources is driving the demand for marine adhesives.

Growing demand for eco-friendly and sustainable products: The demand for eco-friendly and sustainable products is on the rise, and this is driving the development of bio-based marine adhesives. The growing demand for these products is driving the growth of the marine adhesives market.

The most important factors which is boosting the growth of marine adhesives market is the raising use of vessels, cargo ships and passengers ships for various purposes such as transportation, military uses, patrolling uses and others. In last couple of years for promoting the marine sports and international relations the developed countries such as U.S., Switzerland, UK, Australia and others have initiated the marine adventure sports. Marine sports are gaining great popularity among the young people. Owing to which the raising utilization of boats, sports ships and cruise has witnessed a rise in the use of marine adhesives during the forecasted period. In past few years, across the globe there has been a rapid growth in the global cargo trade and a steep growth in intra-regional trades for various products. Moreover, continuous research and development program to create great quality marine adhesives for instance Sika has developed i-cure technology for making the application of adhesives more simpler and easy to use which also results in the boosting the market growth. However, the change in the price of raw material is restricting the growth of the marine adhesives market. Moreover, the maritime tourism is observing a significant growth which contributes to the demand for recreational boating and further augments the global marine adhesives market.         

Increase in use of polyurethanes due to their great resistance to weathering, saltwater and UV has further increase the growth of the market. Moreover, polyurethane sealants make powerful adhesive bonds owing to their high tensile strength. For this reason, use of polyurethanes has been increased in deck bonding applications and joints by providing a permanent and strong bonding strength. They are great on wood-to-wood bonding and deck-to-hull joints where they provide protection at a good rate. Furthermore, raising application of polyurethanes in glass bonding, bonding of decorative panel or hardware, has further boosted the growth of the market. Across the globe, customers are observing a great growth in spending on leisure and leisure activities which is significantly contributing the marine adhesives market. However, there are diversified marine adhesives which differs in the temperature ranges which are used for different application which further restricts the demand for marine adhesives market. Marine adhesives are exponentially effective in the exposure of water and moisture. Increasing environmental concerns and regulatory policies and the raising use of eco-friendly products in various application is boosting the growth of the market.

Marine Adhesives Market: Challenges

Despite the positive growth outlook, the marine adhesives market faces several challenges, including:

Availability of raw materials: Marine adhesives require specific raw materials that must meet stringent performance criteria. The availability of these materials can sometimes be limited, which can result in supply chain disruptions and price volatility.

High cost: Some marine adhesives can be expensive, which can limit their adoption in some applications. The high cost is mainly due to the use of specialized raw materials and the need to meet stringent performance requirements.

Stringent environmental regulations: The marine industry is subject to a variety of environmental regulations, which can pose challenges for the use of certain marine adhesives. Adhesives that contain hazardous substances, for example, may be subject to restrictions or bans.

Difficulty in application: Marine adhesives often require specialized application techniques, and incorrect application can result in reduced performance or even failure. This can pose a challenge for users who may lack the necessary skills or equipment.

Limited awareness and education: Awareness and education about the benefits and proper use of marine adhesives can be limited, particularly in emerging markets. This can result in underutilization or incorrect use of these products, which can lead to reduced performance or failure.

Marine Adhesives Market: Segmentation

By Resin Type

• Epoxy
• Polyurethane
• Acrylic
• Others

By Substrate Type

• Metals
• Composites
• Plastics
• Others

By Application

• Deck Systems
• Glazing
• Panel Bonding
• Others

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Marine Adhesives Market: Regional Synopsis

The Asia-Pacific regions contributes the major share in the global marine adhesives market. Raising number of ships, submarines, patrolling boats and others has boosted the growth of the market in this region. Moreover, the frequent applications of ships and water boats in the region and the raising demand for marine adhesives in the shipbuilding industries is augmenting the growth of the market. The increasing marine and coastal tourism is projected to contribute significant to the growth of the market. Furthermore, the countries such as Thailand, Philippines and Indonesia are making great investment in diversified marine projects which is further expected to boost the marine adhesives market. In addition, the growth of the market in this region is also supported by positive economic look, foreign direct investment, increasing startups, government support, rapid industrial growth and others.

Marine Adhesives Market: Key Players

• Henkel
• Engineered Bonding Solutions
• Hernon Manufacturing
• Gougeon Brothers
• Chemique Adhesives & Sealants
• Parson Adhesives
• SABA Dinxperlo
• Huntsman
• H.B. Fuller
• LORD Corporation
• Scott Bader
• 3M

Marine Adhesives Market: Recent Developments

The marine adhesives market has seen several recent developments, including:

Increasing use of bio-based materials: There is growing interest in the use of bio-based materials in marine adhesives, as these materials offer improved sustainability and reduced environmental impact. For example, in 2020, 3M introduced a new marine adhesive that is made from 97% bio-based materials.

Advancements in adhesive technology: The development of new adhesive technologies is driving innovation in the marine adhesives market. For example, in 2021, Sika introduced a new adhesive that offers high strength and flexibility, making it suitable for use in a range of marine applications.

Growing demand for adhesives in shipbuilding: The shipbuilding industry is a key user of marine adhesives, and there is growing demand for these products as shipbuilders look for ways to reduce weight and improve fuel efficiency. In 2020, H.B. Fuller introduced a new marine adhesive that is specifically designed for use in shipbuilding applications.

Increasing focus on sustainability: The marine industry is placing greater emphasis on sustainability, and this is driving the development of new marine adhesives that offer improved environmental performance. In 2021, Bostik introduced a new marine adhesive that is free from solvents and isocyanates, making it safer for users and the environment.

Growing use of composites in marine applications: Composites are increasingly being used in marine applications, and this is driving the demand for adhesives that are specifically designed for use with these materials. In 2020, Huntsman introduced a new marine adhesive that is suitable for bonding composites in marine applications.