the global adhesives market The size was valued at USD 45.6 billion in 2020, which is expected to reach USD 71.2 billion by 2027, registering a CAGR of 4.7% during the forecast period (2021-2027). Adhesives find their applications in various sectors for bonding components, such as automotive parts, wooden parts, electronic components and others. Adhesives can withstand heavy loads, which, in turn, increases its demand in the machinery industry.
Factors affecting the adhesives market over the forecast period:
The demand for lightweight automobiles is increasing the demand for adhesives across the world. With adhesives, the vehicle becomes lighter, quieter and safer compared to mechanical fastening methods for bonding automotive components.
Adhesives are gaining popularity in the packaging industry with the rise of the e-commerce sector across the globe. Flexible packaging will deliver tremendous growth to the adhesives market in the packaging industry over the forecast period.
The demand-supply gap and foreign currency fluctuations are hampering the growth of the adhesives market across the globe. However, prices are negatively affected due to the heavy use of petrochemicals in adhesives and other specialty chemicals around the world.
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Impact of COVID-19 on the Adhesives Market:
The COVID-19 outbreak has significantly hampered the growth of the adhesives market across the globe. Demand for adhesives fell sharply, backed by lower demand for new products, including building renovation, joinery and automobiles. Gradually the supply has also diminished and the old stock is also damaged as the ability of the adhesive to hold the product decreases over time. Moreover, lack of availability of raw materials and disruption in the supply chain due to the imposition of a ban on the transfer of goods across borders is further hampering the growth of the market amid the crisis. Therefore, a modest decline in the adhesives market can be expected in 2020.
The report outlines the Global Adhesives Market study based on product, technology, and end-user.
The adhesives market has been segmented on the basis of product –
- polyvinyl acetate
- Ethyl Vinyl Acetate
The adhesives market has been segmented on the basis of technology–
- Solvent based
- hot melt
- Sensitive to pressure
The adhesives market has been segmented on the basis of end user
- Electrical and Electronic
- Building construction
- The Woodcraft
Adhesives Market: Regional Outlook
The adhesives market has been segmented into five geographical regions, namely North America, Asia-Pacific, Europe, South America, and Middle East & Africa. In 2020, Europe held the largest global adhesives market share, followed by North America and Asia-Pacific. It is further estimated that Europe will dominate the adhesives market during the forecast period. Additionally, Asia-Pacific is expected to project the highest CAGR in the global market during the forecast period.
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Key Competitors in the Global Adhesives Market include-
The adhesives market is highly fragmented, with the presence of a large number of smaller players across the globe. Key Adhesives Market players operating in the global market include-
- 3M Company
- Research Adhesives Inc.
- Akzo Nobel SA
- Arkema group
- Ashland Inc.
- Avery Dennison Company
- Delo Industrie Lebstoffe GMBH &Co. KGAA
- DowDuPont Inc.
- DYMAX Company
- Franklin International
- H. B. Fuller Company
- Henkel AG & Co. KGaA
- Hunter’s Society
- Illinois Tool Works Inc.
- Jowat SE
- Lord Corporation
- Mapei Corporation
- Master Bond Inc.
- Meridian Adhesives Group
- Pidilite Industries
- PPG Industries
- RPM International Inc.
- Sika Group
- Soudal Group
- Wacher Chemie Ag.
The Adhesives Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes the entries.
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The Adhesives Market report covers comprehensive analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent analysis
- Competition landscape
- More than 15 company profiles
Adhesives Market Regional Analysis Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
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Adhesives Market: Target Audience
- Adhesive manufacturers
- Manufacturers of industrial adhesives
- Traders and distributors of glues
- Chemical Distributors, Suppliers & Exporters
- Potential investors and investment firm
- Chemical raw material suppliers
- Nationalized laboratories and research universities