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Adhesives Market byType - Water-based, Solvent-based, and Hot Melt; Product - Polyurethane, Acrylic, Poly Vinyl Acetate (PVA), Polyester, Rubber, Epoxy, and EVA; Application - Packaging, Construction, Automobile, Footwear and Leather, and Consumer)and Region - Global Forecast to 2028

Published: March, 2023
ID: 8738
Pages: 175
Formats: report pdf report excel report power bi report ppt

Adhesives Market Size and Growth (2023-2028)

The adhesives market is estimated at USD 58.90 billion in 2022 and is expected to grow at a CAGR rate of 4.93% to reach USD 23.2 billion in 2028.

Drivers and market limitations:

The Adhesives market size is exponentially expanding owing to the following:

  • Growth in the section of commercial aircraft, automotive, and others.
  • The growing implementation base.

Restraints of the Adhesives market can be –

  • High initial setup cost.

Opportunities of the Adhesives market can be

  • Emerging markets growth possibilities.

Market Taxonomy:

  1. By Type
    • Water-based
    • Solvent-based
    • Hot Melt
  2. Product
    • Polyurethane
    • Acrylic, Poly Vinyl Acetate (PVA)
    • Polyester
    • Rubber
    • Epoxy
    • EVA
  3. Application
    • Packaging
    • Construction
    • Automobile
    • Footwear
    • Leather
    • Consumer

Market values and expected growth:

The critical variables driving development are high demand for building, packaging, installation, and automotive adhesives and sealants in conjunction with their quickly growing implementation range.

The Adhesive market size has seen a substantial increase in research and development expenditure with businesses that are working to develop bio-based options because of harsh environmental policies. The most essential bio-based adhesives and sealants are soybean-derived polyols, plant oil-based polyamides, epoxies, and polyisoprenes. Their manufacturing costs, however, are higher than those of standard adhesives, which restrict their acceptance prices.

Due to the environmental-friendly item design, the water-based adhesives market section had the most significant business share in 2018. Furthermore, Volatile Organic Compounds (VOC) zero emissions from these products are a prominent variable that will in the near future drive demand in the adhesive market.

Rapidly developed lifestyles together with the increasing population of the middle class, lead to the development of the packaging industry in the Asia Pacific. The adhesive market is to be boosted because a large volume of adhesive consumption is applied in packaging applications such as card boxes, envelopes, cardboard closures, cups, flexible packaging, specialty packaging, bags, and devices.

Because of their fast sealing skills and longer substrate stamina, sealants discover enormous apps in the construction industry. Waterproofing sealants, for example, terraces, balconies, and other construction elements are mainly used for external apps. Tilting and several other stickers are particularly used to inland use. These Adhesive are highly penetrative in increasing markets, with enormous project resources and public assistance, thanks to these vibrant apps.

 As for income, in the prediction era, the Asia Pacific Adhesives market is expected to be the highest CAGR of 7,2%. Rapid industrialization, powerful GDP development, and product development are projected to boost national development.

In terms of consumption, Germany, France, and the United Kingdom are the major industry leaders in Europe for adhesives in a broad spectrum of apps. Regional development is motivated primarily by the growing demand for cars, medical equipment, technology, and electronics. Because of their increasing use in building, paper, and packaging apps, the waterborne and reactive section resulted.

North America, with its 22.7% income share, was one of the biggest national sections of the Adhesive market.

Research Methodology:

  1. Market research involves studying market trends, and growth patterns and understanding the influence of variables like macro and micro economic conditions, and geopolitical and demographic conditions on the market value and market dynamics.

  2. The research methodology used to calculate and forecast the Adhesives market began by collecting information on the market key player’s sales using multiple sources via secondary research.In order to identify market segmentation, supplier offers have been considered.

Key players in the market:

  • Henkel (Germany)
  • Sika (Switzerland)
  • Arkema (France)
  • H.B

Key highlights of the research report:

  • This report provides a detailed quantitative analysis of the current market and estimates for the years 2018-2027, which help identify the prevailing market opportunities.

  • Important changes in market dynamics.

  • Report and evaluation of recent developments in the industry.

  • Competitive intelligence helps to understand the competitive scenario in geographical regions.

  • The key players in the market are described in detail in this report, and their strategies are analyzed in-depth to understand the competitive advantage of the market better.

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