The Business Research Company’s Adhesives Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON , UK, November 19, 2021 /EINPresswire.com/ — Adhesive companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters and pressure transmitters that help improve operational efficiency in manufacturing facilities. For example, Siemens process instrumentation and gas analytics solutions increases productivity and efficiency during plant operations. In 2020, Henkel invested 55 million dollars for a new adhesives facility in India. This factory will be India’s largest adhesive manufacturing site, the smart manufacturing unit will be launched near Pune and it aims to meet the growing demands of high-performance solutions in adhesives, sealants and surface treatment products within the Asian country. Companies such as IBG use automated processes and high quality to achieve high efficiency and standardized work. IBG offers various automated systems used for bonding and sealing with different adhesives and sealants, as well as turnkey plants.
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The global adhesives market size reached a value of nearly $58.35 billion in 2020, having increased at a compound annual growth rate (CAGR) of 2.4% since 2015. The market is expected to grow from $58.35 billion in 2020 to $75.25 billion in 2025 at a rate of 5.2%. The growth is mainly due to the growing demand from end-user industries such as automobile and construction industry which is expected to drive the demand for adhesives. The adhesives market is expected to grow from $75.25 billion in 2025 to $91.81 billion in 2030 at a CAGR of 5.2%.
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Increase in residential construction activity during the historic period has contributed significantly to the growth of the adhesives market. With an increase in the global population, there has been an increased demand for housing, which in turn increased the demand for adhesives, for various applications such as floor fixing, roof fixing and fixing panels. It is also mixed in the cement for better adhesion. Governments of developing countries such as India and Brazil have been investing in residential construction in order to provide affordable housing for all, thus driving the manufactured wood materials market. In 2015, the government of India announced its decision to provide housing for all the urban poor by 2022. In 2016, the government approved an investment of $6.2 billion (INR 439.22 billion) for construction of 0.6 million houses including a central assistance commitment of $1.4 billion (INR 100.50 billion) by April 2016.
Asia-Pacific was the largest region in the global adhesives market, accounting for 46.8% of the total in 2020. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the adhesives market will be Eastern Europe and South America, where growth will be at CAGRs of 6.7% and 5.9% respectively. These will be followed by the Middle East and Africa, where the markets are expected to register CAGRs of 5.7% and 4.2% respectively.
Major players covered in the global adhesives industry are Henkel AG & Co. KGaA, Sika AG, H.B. Fuller Company, 3M Company, The DOW Chemical Company.
TBRC’s global adhesives market report is segmented by type into water-based adhesives, solvent-based adhesives, hot-melt-based adhesives, reactive & other adhesives, by application into packaging, construction, laminates, woodstock and furnishing, automobile, footwear, others, by product type into acrylic, PVA, polyurethanes, styrenic block, epoxy, EVA, others.
The water-based adhesives was the largest segment of the adhesives market by material type, accounting for 54.1% of the total market in 2020. Going forward, hot-melt-based adhesives segment is expected to be the fastest growing segment in the adhesives market, at a CAGR of 4.4%.
Adhesives Market 2021 – By Type (Water Based Adhesives, Solvent Based, Hot-Melt-Based Adhesives), By Application Industry (Paper And Packing, Building And Construction, Woodworking And Joinery, Transportation, Footwear And Leather, Product Assembly, Consumer/DIY), By Product type (Acrylic, PVA, Polyurethanes, Stryenic Block, Epoxy, Ethylene-vinyl acetate (EVA)) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides adhesives global market overview, forecast adhesives global market size and growth for the whole market, adhesives market segments, and geographies, adhesives market trends, adhesives market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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