Market Research Future Published a Half-Cooked Research “Global Industrial Adhesives Market Research Report – Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
H.B. Fuller Company (U.S.), Pidilite Industries Ltd. (India), Huntsman International LLC. (U.S.), 3M (Belgium), Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), The Dow Chemical Company (U.S.), BASF SE (Germany), Solvay (Belgium), and DuPont (U.S.) among others are some of the prominent players at the forefront of competition in the Global Industrial Adhesives Market and are profiled in MRFR Analysis.
Industrial Adhesives Market – Market Overview
The Global Industrial Adhesives Market is growing with the spontaneous pace; mainly due to the burgeoning construction and packaging industries. According to a recent study report published by the Market Research Future, the global market of Industrial Adhesives is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a remarkable growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2022).
Globally, the market for Industrial Adhesives is driven by the region Asia Pacific, owing to rapid urbanization and growing demand for the product in end-use industries. Industrial adhesives are used in furniture, toys, and others to impart enhanced strength and flexibility to the materials. Moreover, they are also used in household purposes for coupling the broken materials together and packing gifts.
Increasing demand for the product on carpet layment, ceramic tile, concrete, countertop lamination, and others signifies the growth of construction industry. Moreover, growing consumption of product in packaging, wood & furniture, and transportation provide momentum to the industrial adhesives market growth.
On the other hand, the growing popularity of adhesives and their boundless use in major industries is projected to boost the market growth over the assessment period.
Industrial Adhesives are used on numerous transport and marine applications such as exterior vehicle trim, interior vehicle trim, vehicle assembly, and others to provide thermal resistance to the final products. They are also used for fabricating spare parts of automobiles and add cost-effective nature to the vehicles. The automobile sector has observed a higher growth in the market due to extensive use of adhesives in vehicles due to their ability to withstand thermal load, compression resistance, and others. Additionally, the growing mergers and acquisitions among the leading companies have resulted into a significant growth in the market over the last couple of years.
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Industrial Adhesives Market – Regional Analysis
Geographically, Asia Pacific region holds the major portion of Global Industrial Adhesives Market. China is the leading country in the region owing to growing production capacity and infrastructure facilities in heavy end-use industries. Increasing demand for Industrial Adhesives in packaging, construction, wood & furniture, and automotive has boosted the market demand in Japan, and India. North America has witnessed a significant growth owing to increasing consumption of adhesives and this has led to a surge in the demand for the product in construction industries. A remarkable growth has been witnessed by the European region due to increasing demand for the product in automotive, construction, and other sectors. Additionally, due to growing research & development activities and innovations about the product, the market is projected to grow at a higher CAGR in Europe over the forecast period.
Industrial Adhesives Market- Competitive Landscape
The Industrial Adhesives Market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Industrial Adhesives Market is set to grow at a rapid rate which is likely to attract many entrants to the market resulting into healthy competition in the future. Manufacturers functioning in the Industrial Adhesives Market are struggling to respond to the growing demand for the product from packaging, construction, wood & furniture, automotive and other sectors attributed to technological advancement and extensive use of the product in major sectors. They ensure to deliver the best quality products based on innovative technologies, and best practices.
Industry/ Innovation/ Related News:
April 29, 2016 – H.B. Fuller Company (U.S.), one of the prominent producers of Industrial Adhesives, announced that the company has bought advanced adhesives, a distributor of Industrial Adhesives in Australia and New Zealand. With the completion of this deal, the company’s Industrial Adhesives Market position is set to be strengthened and a positive market growth is observed in the Asia Pacific region.
January 30, 2017 – H.B. Fuller Company (U.S.), one of the leading manufacturers of Industrial Adhesives, announced that the company has bought the industrial adhesives business of Wisdom Worldwide Adhesives, a distributor of adhesives for the packaging, paper converting, and assembly markets. One of the sources of the company said that this transaction is set to propel the market on a significant scale over the forecast period due to implementation and production of well executed product in the industry.
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