Industrial Adhesive Market – Market Overview
Industrial Adhesives are increasingly used as an alternative to mechanical fastening, welding and other joining methods. Using Industrial Adhesives business are able achieve optimized manufacturing processes & design options. With the emerging technologies. Owing to the efficacy Industrial Adhesives demonstrates, it is widely used across a diverse range of industrial sectors. Based on the industries and its use, Industrial Adhesives have been bifurcated such as Automotive Adhesives, Medical Device Adhesives, and Packaging Adhesives etc.
Industrial Adhesives enjoy increasing popularity and does the Industrial Adhesives Market enjoy an extensive traction. The Industrial Adhesive is accruing rapidly on the global platform mainly due to the burgeoning industries like Automotive, Packaging, Healthcare and manufacturing.
Accrediting the colossal growth the Industrial Adhesive Market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2022. According to which, continuing with the same trends the global Industrial Adhesive Market is projected to perceive an outstanding growth by 2022 registering a striking CAGR during the anticipated period (2017 – 2022).
The global Industrial Adhesive Market is predominantly driven by the burgeoning automotive market. Leverage to the heightened demand for light weight vehicles (as an alternative to mechanical fastening, welding and other joining methods) and the emergence of Electrical Vehicles (EVs) where Industrial Adhesive is extensively used for Vehicle components and systems adhesion, including surface treatment, magnet bonding, NVH, impregnation and sealing and gasketing. Apart from these mentioned application areas, Industrial Adhesive is also exclusively used in Electrical/ Electronic Application Areas of an automobile such as Sensors, Cabin Devices, Electronic Control Module just to name a few. Asia Pacific is dominant market for industrial Adhesives attributing to the growing Automotive and Construction industries of APAC owing to the increasing population, improving economy and growing civilization etc. In APAC, specifically, India and China is supporting the Industrial Adhesive Market growth largely.
Additionally, Packaging industry and Medical Equipment (Healthcare) Industry is fostering the Industrial Adhesive Market growth globally. Evidently technological advancements transpired in to the Industrial Adhesive Market coupled with the key players operating in the market who are constantly investing significant amounts in to R&D activities are providing impetus to the Industrial Adhesive Market growth.
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On the other hand, stringent environmental regulations pertaining to VOC emissions coupled with the economic slowdown in Europe and some other regions or economies might pose challenges to the market growth during the forecasting period. Moreover, price volatility and turmoil in supply of one of the main feedstock – industrial crude oil is expected to affect demand in forecasted period. However, advent of eco-friendly, VOC free Water Based Adhesives which is rapidly replacing the Solvent Based Industrial Adhesives coupled with the increasing urbanization and infrastructure investment suggest that the growth in urbanization and increase in infrastructure investment will fuel the Industrial Adhesive Market growth, escorting the market to greater heights.
Henkel AG & Co. KGaA, H.B. Fuller, The Dow Chemical Company, Sika AG, Cytec Industries Inc, Hitachi Chemical Co, Avery Dennison, Bostik SA, RPM international Inc, and Wacker Chemie AG are some of the prominent players at the forefront of competition in the Global Industrial AdhesiveMarket and are profiled in MRFR Analysis.
Industrial Adhesive Market – Competitive Analysis
Industrial Adhesive Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Industrial Adhesive manufacturers strive to develop products that can deliver optimal adhesion, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Industrial Adhesives for every application.
Industry/ Innovation/ Related News:
July 18, 2017 – H.B. Fuller Company (US based with the global presence) one of the global adhesives provider acquired Adecol Ind. the largest manufacturer of industrial adhesives and adhesive technologies in Brazil.
December 01, 2017 – DELO Industrial Adhesives expanded its product range by introducing a new potting compound for automotive and power electronics. The new product – DELO-DUOPOX CR8031 protects electronic components such as sensors even at high temperatures and is easy to handle. The two-component epoxy resin shows good adhesion to various plastics such as PA or ABS. Even with PE, a compression shear strength of 20 MPa was reached after plasma pre-treatment, although this cheap and resistant plastics is difficult to bond due to its low surface energy.
Jan. 27, 2017 – H.B. Fuller Company announced that, it has purchased (acquired) the industrial adhesives business of Wisdom Worldwide Adhesives, a provider of adhesives for the packaging, paper converting, and assembly markets.
Sept. 04, 2017 – H.B. Fuller Company announced that it has signed an agreement to purchase Royal Adhesives & Sealants, a leading manufacturer of high-value specialty adhesives and sealants.
April 21, 2017 –SikaCorporation, a supplier of innovative adhesive and sealant solutions, announced the launch of SikaFast-3300 and SikaFast-3500 Structural methyl methacrylate (MMA) adhesives for transportation and industrial assembly applications.
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Industrial Adhesive Market – Segments
For the convenience of the report and enhanced understanding; The Industrial Adhesive Market is segmented in to 3key dynamics
Segmentation by Application: Comprises automobile, construction, electronics and electrical, personal utilities, Medical devices.
Segmentation by Types: Comprises Acrylic, Polyvinyl Acetate, Epoxy, Polyurethane and Ethyl Vinyl Acetate and other.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Industrial Adhesive Market – Regional Analysis
Industrial Adhesive dominates in APAC region due to growing manufacturing sector and cheap labour cost. North America and Europe market for Industrial Adhesive are expected witness a sluggish growth, followed by RoW.
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