Allied Market Research
Loading...
Cart
0

Industrial Adhesives Market is Expected to Reach $54.9 Billion by 2027

 

quote The industrial adhesives market is anticipated to witness considerable growth, owing to rising consumer bases, such as aerospace and automobiles, in developing countries such as India, China, and others. However, volatility in prices of raw material is expected to hinder the growth of the industrial adhesives market. quote

Eswara Prasad
Manager, Materials &Chemicals at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research titled, “Industrial Adhesives Market by Composition, Type, and End-use Industry: Opportunity Analysis and Industry Forecast, 2020–2027,” 

The global industrial adhesives market was valued at $39.0 billion in 2019, and is projected to reach $54.9 billion by 2027, growing at a CAGR of 6.3% from 2020 to 2027.

Industrial adhesives help the manufacturing process for best results. They improve the quality of the assembly and reduce the manufacturing expense. The demand for industrial adhesives has increased, owing to fast penetration of e-commerce in developing economies and rising demand from the medical sector. However, availability of alternatives and volatility in prices of raw material are some of the factors expected to hinder the market growth during the forecast period.

The industrial adhesives market is segmented into composition, type, end-use industry, and region. On the basis of composition, the industrial adhesives market is divided into polyurethane, epoxy, vinyl, acrylic, and others. Depending on type, the market is classified into water-based adhesives, solvent-based adhesives, hot-melt adhesives, and others. Various end-use industries of industrial adhesives studied in the market include packaging industry, construction industry, automotive industry, electrical & electronics, and others. By region, the industrial adhesives market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The industrial adhesives market share is analyzed across all important regions. 

On the basis of composition, the acrylic segment garnered 33.6% in terms of volume in 2019. This is attributed to high bond strength, superior levels of initial tack, and generation of less volatile organic compounds (VOCs). 

Based on type, solvent-based adhesives segment garnered 9.1%, in terms of volume, in 2019. This is attributed to its adoption in various applications as it is high temperature resistance and can be applied to a variety of substrates.

On the basis of end-use industry, the packaging industry segment garnered 27.5% in terms of revenue in 2019, and is expected to grow at a CAGR of 6.6% during the forecast period. This is attributed to change in consumer trends, brand owner trends, spending on consumer goods, and others.

Region-wise, Asia-Pacific is expected to grow at a CAGR of 7.2%, in terms of revenue, during the forecast period. This is attributed to factors such as rising end-use industries, including aerospace, construction, electronics, and others. 

The industrial adhesives market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the market include 3M Company, Arkema S.A., Avery Dennison Corporation, H.B. Fuller, Henkel AG & Co. KGaA, Parker Hannifin Corp, Jowat SE, Pidilite Industries Limited, Wacker Chemie AG, and Delo.

Other players in the value chain of the industrial adhesives market include Hitachi Chemical Company Ltd., Bayer Material Science, Toyo Polymer Co. Ltd., Bemis, Ashland Inc, Royal Adhesives & Sealants, Cytec Industries Inc, Adhesive Films Inc., Forbo Holding, Cargill Inc., Vulkaflex Industrial, and others.

Key findings of the study

  • The report outlines the current market trends and future scenario of the industrial adhesives market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
  • The industrial adhesives market size is provided in terms of volume and revenue.
  • On the basis of composition, the acrylic segment is expected to grow at a CAGR of 4.7%, in terms of volume during the forecast period.
  • On the basis of type, the hot-melt adhesives segment gained 12.7% share in 2019 in terms of revenue.
  • On the basis of end-use industry, the electrical & electronics segment garnered a share 6.3% in 2019 in terms of revenue.
  • On the basis of region, North America garnered a share of 20.1% in 2019 in terms of revenue.

Impact of COVID-19 on the industrial adhesives market

  • Manufacturing as well as supply regions or countries witnessed economic slowdown, owing to the lockdown implemented across several countries. The downstream section of the value chain, which is the end-use industry, has witnessed less demand. This impacted the growth of the industrial adhesives market. 
  • For instance, the automotive sector has been witnessing slowdown, owing to decreased automobile sales that resulted in decreased demand for raw materials. Therefore, this factor consequently impacted the demand for industrial adhesives.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Industrial Adhesives Market by Composition (Polyurethane, Epoxy, Vinyl, Acrylic, and Others), Type (Water-based Adhesives, Solvent-based Adhesives, Hot-melt Adhesives, and Others), and End-use Industry (Packaging Industry, Construction Industry, Automotive Industry, Electrical & Electronics, and Others: Global Opportunity Analysis and Industry Forecast 2020-2027 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Industrial Adhesives Market"
Purchase Enquiry