11-May-2021 | Market Research Store
Findings from Market Research Store report “Adhesives By Product Type (EVA, Acrylic, Styrenic Block, PVA, Polyurethanes, Epoxy, and Others), By Technology Type (Hot-Melt, Water-Based, Solvent-Based, Reactive, and Others), By Application (Automobile, Pressure Sensitive Application, Packaging, Footwear, Construction, Furniture & Laminates, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2026” states that the global demand for the Adhesivess market in 2020 was approximately USD 53,000 Million. The market is anticipated to grow at a CAGR of 4.5% and is anticipated to reach around USD 72,130 Million by 2026.
Increased demand for Adhesivess in the medical industry, increased demand for Adhesivess & sealants in the building & construction industry, and growth in the appliances industry are the major drivers of the sector. Environmental authorities' strict restrictions on the use of Adhesivess with high Volatile Organic Compounds (VOCs) are expected to force industry participants to introduce bio-based Adhesivess.
Due to growing rising income levels, domestic demand, and easy access to capital, Asia Pacific has emerged as one of the leading producers and consumers of Adhesivess and sealants. One of the largest users of Adhesivess and sealants in this area is the automotive and transportation industry. The Asia Pacific region's economic growth, particularly in emerging markets like Taiwan, India, Indonesia, Thailand, Malaysia, and Vietnam, is leading to an increase in the number of infrastructure projects, which is expected to drive demand for Adhesivess and sealants in the building and construction industry.
In terms of standards and regulations, the Adhesivess and sealants industry is constantly changing. The Construction Products Regulation (CPR) introduced new rules for the sale of construction products in the EU, such as regulation (EU) No 305/2011. Manufacturers must now face an extra burden in terms of labeling and documentation to show compliance, as well as additional external testing costs, as a result of the new legislation. Additional substance warnings focused on biocides and waste packaging are issued on a regular basis, resulting in regulatory adjustments.
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.
Browse the full “Adhesives Market By Product Type (EVA, Acrylic, Styrenic Block, PVA, Polyurethanes, Epoxy, and Others), By Technology Type (Hot-Melt, Water-Based, Solvent-Based, Reactive, and Others), By Application (Automobile, Pressure Sensitive Applications, Packaging, Footwear, Construction, Furniture & Laminates, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026.” Report at https://www.marketresearchstore.com/market-insights/adhesives-market-828593
Residential development is being driven by population growth and urbanization in developing countries such as China, India, Indonesia, Vietnam, Brazil, and Mexico. In these countries, there is a growing demand for permanent housing, which is driving demand for Adhesivess and sealants. The global automotive industry has seen a surge in sales of high-performance Adhesivess due to the growing popularity of lightweight passenger cars with better fuel efficiency and lower emissions. These Adhesivess are used in a variety of applications in both the interior and exterior of automobiles. They can, for example, minimize weight by substituting nuts and bolts and thereby improve vehicle fuel economy. As a result, improved Adhesivess with superior bonding capabilities are expected to replace conventional welding and other mechanical fastening methods. Adhesivess and sealants are used in a variety of building applications, including carpet, tiling, wallpapers, and exterior insulation systems. Curtain wall panels and insulating glass units are also kept in place with Adhesivess and sealants. As a result, the construction industry's growing demand for Adhesivess and sealants is a major market driver.
Some of the key players in the Adhesives market are Ashland Inc., Royal Adhesivess, Avery Dennison Corporation, Huntsman International LLC, BASF SE, Nagase & Co., Ltd., Bostik SA, RPM International Inc., H. B. FullerAshland, 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. In addition, businesses use expansion as a key tactic to achieve a competitive edge and a large market share. For example, BASF announced in September 2017 that it would build a new plant in China to produce specialty amines. The production capacity of this multi-product plant is estimated to be 21,000 metric tonnes per year.
This report segments the Adhesives market as follows:
Global Adhesives Market: By Product Type Segmentation Analysis:
Global Adhesives Market: By Product Type Segmentation Analysis
Global Adhesives Market: By Technology Type Segmentation Analysis
Global Adhesives Market: By Application Segmentation Analysis
Global Adhesives Market: Regional Segmentation Analysis
Market Research Store is a single destination for all types of industries, global, and regional reports. We feature large repository of latest industry reports and market statistics published by reputed private publishers and public organizations. Market Research Store is the comprehensive collection of market intelligence products and services available. Our vast database of reports enables our clients to benefit from expert insights on global industries, products, and market trends.
Market Research Store
244 Fifth Avenue, Suite N202
New York, 10001, United States
US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651