Global Adhesive Market Anticipated to Surge at a CAGR of 5.62% Through 2022

Posted on 2018-03-05 by Mark Hub in Industrial // 0 Comments

Albany, USA, 2018-Mar-05 — /EPR Network/ —New research report offers a comprehensive analysis of the “Adhesive Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Global Adhesive Market: Overview

Adhesive refers to a binding substance applied to the surface of materials to avoid separation. Adhesives have been used in various forms and derived from various sources since historic times but modern-day adhesives were first commercially developed in 1960. Adhesives are available in both natural and synthetic forms and can be further classified as non-reactive adhesives and reactive adhesives. Non-reactive adhesive is further divided into drying, pressure sensitive, hot melt. Whereas as, reactive adhesive is further divided into multi-part and one-part. The growing importance of low weight vehicles with lower emissions and increased fuel efficiency is expected to drive the consumption of adhesives in the automotive market. The global adhesive market is expected to be worth US$55.8 bn by the end of 2025 from US$34.3 bn in 2016. During the forecast period of 2017 and 2025, the global market is estimated to rise at a steady CAGR of 5.62%.

Traditionally used fixtures such as screws, clamps, etc. increase the weight of the vehicle. Adhesive materials on the other hand are lighter and can be manufactured with less energy spending. Global expansion in demand for automotive, improved vehicle design capabilities and increasing importance of weight reduction and emission control are the major factors driving the automotive adhesives market. The use of adhesive products has aided in reducing the weight and size of automotive, electronic devices, packaging industry and others, consequently improving their efficiency. Furthermore, easy application of adhesives has helped in considerable reduction of production process time, saving time and costs for end-users. Improved efficiency and reduction in prices has resulted in high growth in demand for end-user products. This in turn is anticipated to fuel adhesives demand within the forecast period.

Acrylics Remain a Popular Choice

The adhesive market has been segmented on the basis of product, type, application, and region. Based on product, the market has been segmented into polyurethane, acrylic, poly vinyl acetate (PVA), polyester, rubber, epoxy, EVA, others. Acrylic holds major share in the adhesive market. Based on type, the market has been segmented into solvent based, water based, hot melt, and others. This segment boasted a 38% share of the global adhesive market in 2016 in terms of value and is anticipated to grow continue during the forecast period. Based on application, the market has been segmented into packaging, construction, automobile, footwear & leather, consumer, and other.

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Asia Pacific to Lead as Emerging Economies Show Unprecedented Support

As of 2016, Asia Pacific held a dominant share in the global adhesive market, with emerging economies backing its growth trajectory. India and China are expected to drive this regional market in the forthcoming years. Asia Pacific held about 34% share of the global adhesive market in 2016. In tandem with this trend, this regional market is expected to soar in the coming years. Developing economies, expansion in industries, and presence of large number of major players in the region are the key growth drivers for Asia Pacific. Emerging countries in Asia Pacific is the leading consumers and manufacturer of adhesives.

North America and Europe are also expected to show steady growth in the market. The adhesive market is still developing in Latin America and Middle East & Africa. VOC (volatile organic compounds) emissions that take place during commercial and industrial application of adhesives pose both environmental and health risks. To regulate such industrial emissions many countries have set guidelines restricting the amount of gaseous emission during use of adhesives especially solvent based adhesives. In the U.S., the Air Resources Board (ARB) issued a document for determining Reasonably Available Control Technology (RACT) to check pollution index caused due to some adhesive applications. In addition, Europe has issued EMICODE and M1 labels for showing low VOC emissions from adhesives.

Key players in the Adhesive market include Pidilite Industries Limited, Henkel AG & Company KGaA, 3M Company, H.B Fuller India Adhesive Pvt. Ltd., BASF SE, The Dow Chemicals Company, and Bostik.

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