The Global Adhesives Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Adhesives Market size was estimated to be US$ 53 billion in 2019 and is expected to reach US$ 85.7 billion by 2030 at a CAGR of 4.5% during 2020 and 2030. Adhesives are popularly applied across considerable industrial, commercial and residential operations. Adhesives are materials competent of holding materials together through surface coupling. Adhesives utilise organic and inorganic materials to create an adherent bond between distinct materials. The need for adhesives is basically prompted by increasing applications across construction & architecture field, encasing industry, and automotive vehicle industries. With the extension of processed food & beverages manufacturing exercises across the globe, the need for adequate and decent packaging solution has doubled significantly. This has stimulated the need for adhesives globally.
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The appeal for high performance adhesives has doubled importantly for rough-and-ready soldering of diverse materials across automotive industry. Marked up financing in progress of fuel competent and green automobiles has contributed to elevated endorsement of high-performance adhesives for binding of synthetic materials utilized in automobiles. However, reduction in automobile need over past couple of years and evolution of COVID-19 pandemic is foreseen to curb the improvement of the global adhesive market in coming years. Surging realization and increased knowingness viewing environment preservation and aggressive appeal for modest packaging solutions is foreseen to advance towards the hike of adhesive market during forecast period 2020-2030. The global adhesive market is predicted to develop fixedly during the forecast period.
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Strong demand for water-based adhesives fueled by affordability and efficiency to drive the growth of market
The global adhesives market is segmented on the basis of product type, technology, application, and geography. Based on technology, the global adhesive market is segmented into water-based adhesive, solvent-based adhesive, hot melt and others. The water-based adhesives shared a prevailing share to the global market in 2020 incurring to high expertise and affordability. The water-based adhesives do not leak volatile organic compounds (VOCs), thus is counted on to be a predominating section end-to-end for the forecast period. The hot melt adhesives are foreseen to develop significantly during the forecast period.
Rising demand for high performance adhesives to fuel adoption of acrylic adhesives in coming years
Based on product type, the global adhesive market is segmented into polyurethane, acrylic, poly vinyl acetate, polyester, rubber, epoxy, EVA and others. The polyurethane subsidized a dominating contribution to the global adhesive market in 2020 and is conjectured to be a domineering segment throughout the forecasted time period. Intense need from numerous end use applications is predicted to be a prime trait lending a helping hand towards the domination of polyurethane segment. The acrylic adhesives are forestalled to be the accelerated growing segment during the forecast period incurring to active call from packaging industry and thriving demand for strong effectiveness of adhesives across several industries.
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Based on geography, the global adhesive market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific shared a ruling contribution to the global adhesive market in 2020 and is counted on to be a domineering segment throughout the forecast period incurring to strong need from automotive, and manufacturing industries. Asia Pacific is supposed to be the most agile spreading segment during the forecast period incurring to inflation of semiconductor, consumer goods, and house and construction activities across major countries. North America shared a significant stake of the global market and is anticipated to witness steady growth during the forecast period.
Major players active in the global adhesive market include Ashland Inc., Avery Dennison Corporation, BASF SE, Bostik SA, H. B. Fuller, Henkel AG & Company KGaA, Pidilite Industries Limited, Sika AG, The 3M Company, The Dow Chemicals Company, and Uniseal Inc.
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