Market Trends of Asia-Pacific Reactive Adhesives Industry
This section covers the major market trends shaping the APAC Reactive Adhesives Market according to our research experts:
Renewable Energy Industry to Witness the Highest Growth Rate
- The consumption of wind energy has been significantly increasing in the Asia-Pacific region in the past few years.
- Wind energy offers many advantages over traditional energy sources which include unlimited & free energy, clean and non-polluting way to generate electricity. Unlike other types of power plants, it emits no air pollutants or greenhouse gases.
- Reactive adhesives are used to bond blades together. They offer a solution of reduced weight, as well as providing benefits in reduced assembly time and corrosion protection.
- The installed wind power capacity in the Asia-Pacific region has witnessed a significant growth in the recent years owing to the growing environmental consciousness.
- Hence, owing to the above-mentioned factors, wind turbines industry is likely to witness the highest growth rate during the forecast period.
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China to Dominate the Market
- China accounts for the highest share of the Asia-Pacific reactive adhesives market currently owing to the demand from end-user industries like Transportation, aerospace, and construction.
- China is the largest automobile manufacturer in the world. The automobile production results in high demand for reactive adhesives in the country. However, the declining automotive production in the country is likely to negatively affect the market studied in China.
- The growing construction and aerospace industries in the country are also major driving factors for the demand for reactive adhesives in the country.
- Additionally, the growing investment in increasing the wind energy capacity of the country is also a major driving factor for the market studied in the country.
- Hence owing to the above-mentioned factors, China is likely to dominate the market studied during the forecast period.
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