Published: May-2021 | Format: PDF | Market Research Store | Number of pages: 140 | Code: MRS - 828593
According to the report published by the Market Research Store, global demand for the Adhesives market was estimated at approximately USD 53,000 Million in 2020 and is anticipated to generate revenue of around USD 72,130 Million by end of 2026, growing at a CAGR of around 4.5% between 2021 and 2026.
The word "Adhesives" refers to a binding agent that is added to the surface of objects to keep them together. For various uses, a variety of Adhesives forms are used. In the building and construction, aerospace, packaging, woodworking, and clothing markets, Adhesivess are used in a variety of applications. For bonding uses, an Adhesives is often used in the form of tapes. These tapes can be coated with a variety of pressure-sensitive Adhesivess and can be quickly applied to any surface by applying pressure manually or mechanically. A backing material or carrier is often lined with an Adhesives or a release lining of an Adhesives tape.
The demand for high-performance Adhesivess has risen considerably in the automotive industry for efficient bonding of dissimilar materials. Increased investment in the construction of fuel-efficient and environmentally friendly vehicles has resulted in a rise in the usage of high-performance Adhesivess for bonding synthetic materials in automobiles. However, the global Adhesives industry is expected to be hampered in the coming years by a drop in automotive demand over the last few years and the outbreak of the COVID-19 pandemic. During the forecast era, rising environmental consciousness and strong demand for inexpensive packaging solutions are expected to contribute to the growth of the Adhesives industry. During the forecast era, the global Adhesives demand is projected to expand steadily.
On the basis of product type, the Adhesives market is bifurcated into categories such as EVA, acrylic, styrenic block, PVA, polyurethanes, epoxy, and others. Polyurethane accounted for the lion's share of the overall Adhesives demand in 2019 and is expected to continue to do so over the projected period. The polyurethane segment's domination is projected to be fueled by strong demand from a variety of end-use applications. Acrylic Adhesivess are expected to rise at the fastest rate during the projected period, owing to heavy demand from the packaging industry and rising demand for high-performance Adhesivess across a variety of industries. Based on the technology type, the market could be further split into hot-melt, water-based, solvent-based, reactive, and others. Water-based technology had the highest market share as it is used as a carrier and able to evaporate or be consumed by the substrate. They also cap VOC emissions, and the market is expected to grow in the coming years as environmental awareness and legislation become more stringent. Chemical solvents are used as a carrier or diluting medium in solvent-based technology. Because of their high bond strength and excellent heat and chemical resistance, they are extensively used in outdoor and long-term applications. However, rising crude oil costs, as well as increased environmental and workplace safety legislation, are likely to limit demand for this technology. On the basis of end-use, automobile, pressure sensitive applications, packaging, footwear, construction, furniture & laminates, and others. The segment of the construction industry is considered to be the highest revenue holder as it is influenced by macroeconomic trends as well as government actions. Industry players are encouraged to follow sustainable designs and green construction standards as a result of quality improvements and LEED certification. As a result, the market for Adhesivess rises. The growing need for Adhesivess in green building technologies has increased the need for R&D to create new Adhesives materials. For example, Franklin International released Titebond, a panel Adhesives, in 2019 to make standard-sized panel installation easier. An exact quantity of Adhesives is used with the latest package to install a regular 4' x 8' FRP plate. During the forecast era, these trends are expected to fuel the global Adhesivess demand.
The Asia Pacific Adhesivess market is expected to develop at the fastest rate in terms of revenue during the projected period. Regional development is expected to be fueled by rapid industrialization, high GDP growth, and increased manufacturing production. Furthermore, favorable government policies are expected to boost the construction industry, which will help product penetration in the city. China, India, and Japan were the main growth producers in the sealants industry in the Asia Pacific. The automotive, heavy machinery and electrical and electronics sectors are expected to benefit from the increasing manufacturing sector. Thanks to technological transfer from western economies, China and India have seen an increase in automobile demand in recent years.
The major players dominating the global Adhesives market in terms of revenue and development are Ashland Inc., Royal Adhesivess, Avery Dennison Corporation, Huntsman International LLC, BASF SE, Nagase & Co., Ltd., Bostik SA, RPM International Inc., H. B. Fuller, Ashland, Henkel AG & Company KGaA, LORD Corporation, Pidilite Industries Limited, Permabond LLC, Sika AG, Evonik Industries AG, The 3M Company, Bolton Group B.V., The Dow Chemicals Company, Jowat SE, and Uniseal Inc., among others. Some of the world's most well-known corporations are releasing new technologies or purchasing rival firms, ensuring that the market continues to grow rapidly in the coming years. Fixatti, a firm specializing in high-performance thermobonding Adhesives powders, was purchased by Arkema Group in July 2020. The company was able to expand its global offering of hotmelt Adhesives solutions for specialty industrial applications in the manufacturing, technical coating, chemical, aerospace, and textile printing industries as a result of this purchase.