INDUSTRIAL ADHESIVES MARKET TO REACH USD 73.9 BILLION BY 2027 | CAGR 4.9% — FORENCIS RESEARCH
Global Industrial Adhesives Market: Key Highlights
- According to the new market research report “Industrial Adhesives Market by Material Base (Synthetic and Natural), by Compositions (Acrylic, Vinyl, Epoxy Resins, Polyolefin Polymers, Rubber, Amine-Based Resins), by Application (Automotive, Packaging, Medical, Electronics and Electrical), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global industrial Adhesives market is estimated to reach USD 73.9 Billion by 2027 at a CAGR of around 4.9% during the review period.
- Industrial Adhesives are to bind the surfaces by means of adhesive bonding processes. Adhesives can be used in various applications from packaging to building and construction.
- These are user-friendly and allow permanent assembly of similar and dissimilar substrates. For instance, hot-melt or spray adhesives can be used to bond fabric to wood, plastic, or metal, thus avoiding the need for stitching.
Global Industrial Adhesives Market: Key Market Dynamics
- Increasing packaging demand from various end-use industries such as pharmaceuticals, food & beverages, and cosmetics is expected to drive market growth over the coming years.
- Growth of e-commerce commodities demand, in which packaging is a necessary factor, is anticipated to drive the industrial adhesives demand over the coming years
- In automotive application, Industrial adhesives are used in structural metal bonding, structural fiber-reinforced plastic bonding, interior exterior trim, and glass bonding in automotive applications
- the growing automotive industry is projected to drive the product market demand over the forecasted period.
- However, volaitlity prices of raw material and stringent environmental regulations remain a major restraining factor for the growth of the industrial adhesives market
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Global Industrial Adhesives Market: Regional Overview
- North America
Asia-Pacific is expected to account for the largest share in the global industrial adhesives market during the forecast period, owing to the automotive and electronics industries in China are growing at a rapid rate. Moreover, the countries such as China, India, Japan are manufacturing hub, the packaging industry is also growing is also boosting the industrial adhesives market.
Europe is expected to contribute substantially to the growth of the industrial adhesives market owing to the presence of developed automotive and aerospace industries in Germany, the UK, and Spain. Recent advancements in adhesive technologies in the region are aiding automobile manufacturers in the production of lightweight and fuel-efficient vehicles. The focus on minimizing carbon emissions and enhancing fuel economy, by reducing vehicle weight, is expected to fuel the demand for industrial adhesives in the region.
Global Industrial Adhesives Market: Key Players Overview
Solvay is a Belgium-based international chemical and advanced materials company. Through its subsidiaries, it operates four segments: Advanced Materials, Advanced Formulations, Performance Chemicals and Corporate & Business Services. Advanced Materials offers high-performance materials for multiple applications primarily in the automotive, aerospace, electronics, and health markets providing sustainable mobility solutions, reducing weight and improving CO2 and energy efficiency. In September 2018, Solvay increased structural adhesives manufacturing capacity with new automated UK plant, supporting acceleration of customers’ aerospace programs.
- Henkel AG & Co KGaA:
Henkel AG & Co KGaA is engaged in the consumer and industrial business. The Company’s segments include adhesives for consumers, craftsmen and building, industrial adhesives, beauty care and laundry and home care. The Company has operations in Western Europe, Eastern Europe, Africa/Middle East, North America, Latin America and Asia-Pacific. The Company’s Adhesives for Consumers, Craftsmen and Building operating segment markets a range of brand name products for private users, craftsmen and the construction industry.
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