As per the experts, the industrial adhesives market is predicted to record a growth rate of 6.3% from 2021-2030 and is projected to reach US$ 79.06 billion by 2030.
The study provides the overall revenue of the global industrial adhesives market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year.
The global industrial adhesives market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the industrial adhesives industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Rising demand for advanced adhesive technologies particularly from paper packaging and automotive industry is the key trend that boosts the market growth for industrial adhesives in the coming years. Emerging aspects in the packaging industry such as renewable packaging solutions for food & beverages, pharmaceuticals, and cosmetics industry have created alluring opportunities for the market players.
Automotive is another significant application segment in the global industrial adhesives market that anticipated witnessing exponential growth over the forecast period owing to rising trend for light weight vehicles and high fuel efficiency. With rising global pollution governments of several countries have manifested strict laws for vehicle manufacturers to reduce the overall weight of the vehicles and adopt supportive technologies to improve the fuel efficiency. Adhesive products provide excellent bonding of auto body parts and consequently reduces the excess weight of hinges and other automobile components. This significantly drives the industrial adhesives market.
Moreover, increasing penetration of electric vehicles and autonomous vehicles again trigger the growth of industrial adhesives market. Electric vehicles significantly propel the demand for high fuel efficiency and light vehicle components that forces manufacturers to increase application of adhesive products in place of conventional bonding agents.
In addition, aerospace industry is other most prominent industry that witnesses significant demand of industrial adhesives. This is mainly attributed to the custom formulations that has extended the avenues of adhesive developers particularly for the industrial applications. Other than this, changing food habits especially in the developing nations and the Asia Pacific region prominently drives the demand for packaging in food & beverages that in turn propel the market for industrial adhesives.
- The Asia Pacific is the most promising region in the global industrial adhesives market owing to accelerating growth in packaging and automotive industry
- By product, acrylic adhesives dominated the global industrial adhesives market with more than 40.1% of sales share in the year 2020
- Epoxy adhesives are largely used in the automotive sector and hence likely to witness profound growth in the upcoming years
- Based on application, packaging industry is the front-runner in the global industrial adhesives market with holding around half of the market share
- Footwear segment witnesses the fastest growth rate during the forecast period owing to changing customer preferences towards sports and designer shoes
Report Scope of the Industrial Adhesives Market
|Market Size in 2020||USD 50.5 Billion|
|Growth Rate from 2021 to 2030||CAGR of 6.3%|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Companies Mentioned||Hitachi Chemical Company Ltd, Cytec Industries Inc., Henkel AG & Co., Sika AG, 3M Company, Akzo Nobel, Mitsubishi Chemicals Corporation, Bayer Product Science (Covestro), H.B Fuller, DuPont de Nemours, Inc., Adhesive Films Inc.|
Based on geography, the global industrial adhesives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific leads the global market for industrial adhesives with nearly half of the revenue share in the year 2020. This is majorly attributed to the increasing construction activities, rising automotive sales, rising demand for packed & frozen foods, and many others. As per a report published by PwC on Capital Project and Infrastructure Spending: Outlook to 2025, the Asia Pacific infrastructure market anticipated to witness a growth of nearly 8% yearly over the next decade and approaching to a value of US$ 5.36 trillion by the year 2025.
Other than Asia Pacific, North America and Europe are the other significant regions that witness steady growths over the forthcoming years owing to prominent impact of packaging and automotive industry growth on GDP.
Top Players Contending in the Market:
The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global industrial adhesives market are as follows:
- Cytec Industries Inc.
- Henkel AG & Co.
- Hitachi Chemical Company Ltd
- Sika AG
- 3M Company
- Mitsubishi Chemicals Corporation
- Bayer Product Science (Covestro)
- H.B Fuller
- DuPont de Nemours, Inc.
- Akzo Nobel
- Lord Corporation
- Avery Denison Group
- Ashland Inc.
- Toyo Polymer Co. Ltd.
- Adhesive Films Inc.
Some of the key highlights of the report are:
- Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
- Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Competitive Landscape Analysis – Some of the leading companies operating in the industrial adhesives market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Why should you invest in this report?
If you are aiming to enter the global industrial adhesives market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for industrial adhesives are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
TABLE OF CONTENT
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Precedence Research has segmented the global Industrial Adhesives Market report on the basis of product, application, and region:
- Polyvinyl Acetate
- Ethyl Vinyl Acetate
- Electrical & Electronics
- Industrial Machinery
- North America
- Asia Pacific
- South Korea
- Rest of the World
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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