Market Research Report
Global Adhesives Market Forecast 2021-2028
|Global Adhesives Market Forecast 2021-2028|
Published: December 21, 2020
Content info: 203 Pages
Delivery time: 2-3 business days
The global adhesives market is evaluated to project a CAGR of 6.22% in terms of revenue, and 5.11% in terms of volume, over the forecast period of 2021 to 2028. The market growth is attributable to factors, such as, the rising demand from the construction industry, applications in the packaging industry, and the increasing need for miniaturized and lightweight electronics.
An adhesive is characterized by a compound that adheres and bonds two or more substances together. Adhesives are typically produced from natural and synthetic resources. Since numerous modern adhesives are very strong, they are becoming vital for their utility across the construction and automotive industries. Moreover, they exhibit similar characteristics and perform similar roles, as well.
The majority of professionals in the field of construction believe that the use of adhesives within the industry entails the potential of revolutionizing engineering. For instance, construction firms can minimize the impact of natural disasters, such as an earthquake, by drastically reducing the building's weight. As a result, adhesives are capable of changing the designs of modern building structures, especially in areas susceptible to natural disasters. The global construction market also observes significant momentum, in terms of mitigating the sluggish economic growth.
The global adhesives market growth is analyzed by assessing the Asia Pacific, Europe, North America, and the rest of the world. The Asia Pacific is the fastest-growing adhesives' consumer, worldwide, owing to the surging demand for adhesives, across the region. Moreover, key players actively invest in research endeavors, in order to manufacture eco-friendly products and use them across several end-users. The region's predominant application scopes include sectors, such as, footwear, furniture, automotive, and construction, among others.
The global market is fairly fragmented and intense, since multiple players, globally, manufacture, and commercialize adhesives. Moreover, companies often engage in technologically-driven projects, aiming to acknowledge the competitive market challenges regarding cost reduction and product quality.
Some of the distinguished players operating in the market are, Hexcel Corporation, 3M Company, HB Fuller Company, Henkel AG & Co KGaA, Sika AG, etc.