The global Adhesives Market is forecast to reach USD 4.06 Billion by 2026, according to a new report by Reports and Data. Adhesives are specialty chemicals which provide strong adhesion between two metallic surfaces or films. This strong bond exhibits properties of excellent heat and chemical resistance. They are propagated in various mediums or technologies like water-based, solvent-based, and solvent less, among others. Developing industries like healthcare and food and beverage industries require consumer durables which will, in turn, promote the growth of lamination adhesives.
The market for Adhesives is influenced by the rising demand from the packaging industry. The procedure for lamination is carried out by applying pressure or heat, and this imparts aesthetic values as well as protects the product. They remain in function under high machinery speeds like automobiles. Lamination adhesives are used for packaging confectionery, meat, agricultural produce, and medical products. Since they allow printability, permeability, and flexibility, they can be used in the flexible packaging industry.
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Top Companies: 3M, Arkema (Bostik), Fujifilm Corporation, H.B. Fuller Company, Henkel AG Co. KGaA, Dowdupont Inc., DIC Corporation, Dymax Corporation, Flint Group, and Weilburger Holding GmbH, among others.
Further key findings from the report suggest:
- The solvent-less technology type is set to witness the highest CAGR of 8.1% through the forecast period. They are widely used in the production of coffee-bags, stand up pouches, confectionery packaging, and frozen food packaging.
- Polyurethane type of resin occupied the largest market share of 46.1% in the year 2018. PU-based Adhesives provide exceptional adhesion between textiles, metal, leather, and paper. Their application varies, such as on buses, trucks, rails, and other automotive vehicles.
- Solvent-based technology held the largest market share of 33.6% in the year 2018. It is because of the properties like higher bond strength, lower emission, and lesser cure time. Hence, the solvent-based segment is the backbone of the food packaging industry.
- The automotive and transportation industry is set to experience the highest CAGR of 8.0% during the forecast period. They are used for body panels, fenders, heat shields, among others in automotive products.
- Asia Pacific is forecasted to witness the highest CAGR of 7.7% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the Adhesives market. The increasing demand in the packaging industry and improving economic conditions in driving market growth.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Adhesives market is segmented into:
Technology Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Solvent less
Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Automotive and Transportation
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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