Adhesives market is expected to witness high growth rate over the forecast period owing to rising demand from construction and general manufacturing sector. Further, the growth can also be credited to the increased production of the lightweight vehicle along with the huge government investment in commercial and residential infrastructure facility. Also, growing demand for the product from the aerospace industry is another major factor fueling the industry expansion.
As per the latest report added by Value Market Research, the Global Adhesives Market was around 40 BN in 2017 and is expected to reach USD 54.43 BN by 2024 with the CAGR of 4.5%.
HOT MELT IS GAINING TRACTION IN THE MARKET
Hot melt account for around 20% in 2017. The tremendous growth in the packaging industry has significantly raised hot melt adhesive. Further, rapid growth in the non-woven disposables industry along with the rise in the consumption of the healthcare products are also anticipated to open new avenues of growth to the segment.
EPOXY IS LEADING THE PRODUCT SEGMENT
Epoxy is leading products segment with X.X% share in 2017. The high demand for epoxy adhesive can be attributed to its extensive use across construction, transportation, marine, semiconductors, and aerospace industries. Also, growing demand for lightweight and low carbon emitting vehicle is further driving demand of the product.
AUTOMOBILE AND CONSTRUCTION HAS EMERGED AS THE LARGEST APPLICATION AREA
Automobile and construction collectively account for X.X%. Owing to its superior properties such as stable structural bonding properties, high tensile strength and ability to sustain in constant loads is again accelerating their demand across automobile and construction industry. Also, they have excellent properties such as high thermal, electrical and mechanical properties which in turn raising their demand in manufacturing automotive parts.
ASIA-PACIFIC IS RULING GLOBAL ADHESIVE MARKET
The Asia Pacific over 30% in 2017. The growth in this region can be attributed to growing demand from construction and automotive industry. Moreover, rapid urbanization, growth in transportation industry coupled with the rising investment in infrastructural development is again fueling the regional growth.
3M Company, BASF SE, Bostik, H.B Fuller India Adhesive Pvt. Ltd., Henkel AG & Company KGaA, Pidilite Industries Limited, and The Dow Chemicals Company.
As per this study the Global Adhesives Market was valued at USD XX BN (by revenue) in 2019 and is anticipated to reach USD XX.XX BN by 2026 with a CAGR of X.X%. By volume, the market was estimated at XXX KT in 2019 and is expected to reach XXX KT by 2026 with a CAGR of X.X%.
Adhesives are also referred to as glue, is used to hold the material together in a functional manner by creating an adhesive bond between surface and resist separation. In general term, it is also called as cement, mucilage, glue, and paste. Adhesives can be derived from animal and plants sources and over numerous advantage over other binding techniques such as sewing, mechanical fastening, thermal bonding, etc. They have found application across Packaging, Construction, Automobile, footwear and leather, and other general industries.
Objectives of the Study:
- Define and measure the global adhesives market
- Volume and revenue forecast of the global adhesives market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments
With the growing demand for consumer goods along with the ongoing urbanization and improved in the living of standard the demand for the adhesive is gaining hype in the market. Further, the growing demand for lightweight and low carbon emitted vehicle is again fueling the demand for adhesive. Additionally, rising demand for eco-friendly, low VOC and green sustainable adhesives is likely to offer new opportunity growth to the market over the forecast period. On the other hand, the fluctuating price of raw material is the only factor that can impede the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of adhesives.
The broad adhesives market has been sub-grouped into type, product, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Water Based
- Solvent Based
- Hot Melt
- Poly Vinyl Acetate (PVA)
- Footwear & Leather
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for adhesives in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Adhesives Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the adhesives market include 3M Company, BASF SE, Bostik, H.B Fuller India Adhesive Pvt. Ltd., Henkel AG & Company KGaA, Pidilite Industries Limited, and The Dow Chemicals Company. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.