Research Nester published a report titled “Adhesives Market: Global Demand Analysis and Opportunity Outlook 2028” which delivers detailed overview of the adhesives market in terms of market segmentation by product type, formulation technology, end-use application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Driven by the technological advancements associated with the material formulation and use of adhesives in a diverse range of end use industries, the demand for adhesives is anticipated to increase significantly in the coming years. In 2019, the global adhesives market accounted for a market value of USD 47,398.70 million and is estimated to garner USD 63,557.20 million by 2028 by growing at a CAGR of 4.6% during the forecast period, i.e.,2021-2028. The market is segmented by end use application into packaging, construction, textile, footwear, furniture, healthcare, and others. Amongst these, packaging is the largest end-use segment in the global adhesives market, valued at USD 15,671.8 million in the year 2019.
Based on region, the global adhesives market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region, out of which, the market in Asia Pacific region accounted for the largest market share in terms of both the value and volume in the global adhesives market in 2019 and is expected to hold this position throughout the forecast period on the back of region’s ever improving macroeconomic factors including population, GDP and per capita income among others. Additionally, the increasing sales of automobiles, packed foods, textiles, footwear, and others where adhesives are used massively are also anticipated to add up to the growth of the market in the region. Moreover, the region’s highly populated countries have been advancing towards the increase in construction of residential, commercial, and industrial infrastructures to create a better living atmosphere for their people which is further anticipated to drive the growth of adhesives market in the region. The North America region is significantly growing on account of rising demand for adhesives in construction projects. Also, improved healthcare infrastructure, increased funds for research and development in the healthcare industry, and the growing initiatives taken by the government to upgrade the medical device industry are expected to create a surge in demand for adhesives.
Diverse Range of End Use Applications To Drive The Market Growth
End-use industries wherein adhesives are used for a wide range of applications include packaging, furniture, building and construction, and others. Adhesives find applications in the bonding of wooden laths, bonding of facade elements, flooring underlayment, plaster or insulation boards, and other crucial construction components, which provide structural reinforcement to the buildings. The application of adhesives in the packaging industry is indispensable. Adhesives are used in the packaging of various goods and materials and thus facilitate a reliable packaging process. Corrugated cardboard boxes, clear folding boxes, sacks & bags, and cartons are among the few adhesives' packaging applications. Adoption of adhesives in the construction sector over the traditional mechanical fixing with the screws or nails has offered a unique advantage, which leads to comparatively more homogenous and uniform distribution of the stress.
However, stringent environmental regulations and high cost of raw materials are among the key restraining factors anticipated to hamper the market growth of global adhesives market.
This report also provides the existing competitive scenario of some of the key players of the global adhesives market, which includes company profiling of BASF SE (ETR: BAS), Henkel AG & Co. KGaA (ETR: HEN3), The Dow Chemical Company, Beardow Adams, Ashland Global Holdings Inc. (NYSE: ASH), Avery Dennison Corporation (NYSE: AVY), Arkema Group (EPA: AKE), Eastman Chemical Company (NYSE: EMN), H.B. Fuller Company (NYSE: FUR) and Nanpao Resins Chemical Group (TPE: 4766). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global adhesives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.