Industrial adhesives are synthetic adhesives that are used in various industrial applications for bonding different surfaces such as metal, wood, composites and plastic. Industrial adhesives are commonly used in automotive, construction and packaging industries. These adhesives provide strong bonds that help join different materials efficiently. Some key applications of industrial adhesives include bonding of automotive components, assembly of furniture, packaging of consumer goods and joining of surfaces in construction. The global demand for industrial adhesives has been rising owing to the growing construction and automotive industries across the world.
The global industrial adhesives Market is estimated to be valued at US$ 42.04 Bn in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The industrial adhesives market is estimated to witness high growth owing to increasing demand from medical industry. The use of adhesives has increased significantly in the medical industry for applications such as joining of medical devices, bonding of implants and assembly of various medical equipment. Adhesives help join different materials efficiently and securely in the medical industry. They provide strong durable bonds between dissimilar substrates such as plastics, metals and composites commonly used in medical devices and equipment. Another key driver has been increasing demand for lightweight and fuel-efficient vehicles in the automotive industry. Adhesive bonding helps reduce weight of vehicles thereby improving their fuel efficiency. Adhesive bonding is increasingly being used for joining vehicle components such as body panels and frames.
SWOT Analysis
Strength: Industrial adhesives are extensively used in construction and manufacturing industries given their excellent adhesion property and durability. They lower production costs by replacing welding, bolting, and riveting assemblies. In addition, they facilitate automation and reduce weight of final products. Moreover, adhesives offer superior bonding of dissimilar materials.
Weakness: Strict environmental regulations relating to volatile organic compound emissions can constrain adhesive manufacturers. Further, rapid technological changes in adhesive formulations require significant R&D investments on a regular basis.
Opportunity: Growing infrastructure development activities in emerging economies offer significant growth opportunities. Also, replacement of conventional fastening techniques with adhesives in automotive and aircraft industries will drive the market. Further, development of bio-based and recyclable adhesive technologies present new avenues.
Threats: Presence of local and unorganized players offering low-cost substitutes is a major threat. In addition, fluctuations in raw material prices can adversely impact profit margins.
Key Takeaways
The Global Industrial Adhesives Market Size is expected to witness high growth over the forecast period driven by increasing construction and infrastructure development activities worldwide.
Regional analysis: The Asia Pacific region is projected to be the fastest growing as well as the largest industrial adhesives market during the forecast period. This can be attributed to robust growth of the construction and manufacturing sectors across India, China, Indonesia, Thailand and Malaysia. Furthermore, government initiatives to develop smart cities and airports are driving the demand.
Key players operating in the industrial adhesives market are Johnson & Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc., Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC.
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April 29, 2019: The Global Industrial Adhesives Market is expected to develop at a substantial CAGR in the forthcoming years.
Thus, surging demand for the industrial adhesives in India and China for automobile industry is expected to drive the market in the years to come.
The international Industrial Adhesives Market is divided by Type of Composition,Type of Material Base, Type of Product, Type of End User Industry, and the Area.The division of the international Industrial Adhesives Market on the source of Type of Composition extends Amine-based resins, Polyolefin Polymers, Epoxy Resins, Starch and Dextrin, Acrylic, Rubber, Vinyl, and Others.
The division of the international Industrial Adhesives Market on the source of Type of Material Base extends Natural and Synthetic.View Full Report with TOC @ https://www.radiantinsights.com/research/global-industrial-adhesives-market-research-report-2016 The division of the international Industrial Adhesives Market on the source of Type of Product extends Pressure Sensitive Adhesives, Hot-Melt Adhesives, Solvent-based Adhesives, Water-based Adhesives, and Others.
The division of the international Industrial Adhesives Market on the source of Type of End User extends Transportation Industry, Construction & Woodworking Industry, Pressure Sensitive Products, Packaging Industry, and Others.The division of the international Industrial Adhesives Market on the source of Area extends North America [U.S., Canada, and Mexico], Latin America [Brazil, Mexico, Argentina and others], Western Europe [France, Spain, Germany, England, Italy, Nordic nations, Luxembourg, Belgium, and The Netherlands], Eastern Europe [Russia and Poland], Asia Pacific [India, China, ASEAN, Australia, and New Zealand], Japan, Africa and Middle East [North and Southern Africa and the GCC Nations].By means of geography,the area of Asia-Pacific is the major market for industrial adhesives.
The market for industrial adhesives in India is anticipated to grow at the utmost CAGR in the years to come due to the existence of important companies; for example Mumbai-based Pidilite Industries Limited and the growing demand for industrial adhesives from end-user businesses, for example Packing, Building & Carpentry.
The analysts forecast the global industrial adhesives market to exhibit a CAGR of 5.06% during the period 2019-2024.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, types, and applications.
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2024.
)Asia-Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.
On the basis of type, the global industrial adhesives market is segmented into: Acrylic AdhesivePolyvinyl Acetate AdhesiveEpoxy AdhesivePolyurethane AdhesiveEthyl Vinyl Acetate Adhesive Based on application, the industrial adhesives market is segmented into: AutomotivePackagingConstructionTransportationAerospace The report also includes a discussion of the key vendors operating in this market.
Fuller CompanyHenkel AG & Co. KGaA.Huntsman CorporationSika AGrequest free sample to get a complete list of companies Objective of the study: To analyze and forecast the market size of global industrial adhesives market.To classify and forecast global industrial adhesives market based on product type, application and region.To identify drivers and challenges for global industrial adhesives market.To examine competitive developments such as expansions, mergers & acquisitions, etc., in global industrial adhesives market.To conduct pricing analysis for global industrial adhesives market.To identify and analyze the profile of leading players operating in global industrial adhesives market.
Industrial Adhesives Market Overview: This analysis of the Global Industrial Adhesives Market aims to offer relevant and well-researched insights into the contemporary market scenario and the emergent growth dynamics.
The report on Industrial Adhesives Market also gives the market players and fresh contenders a holistic view of the global market landscape.
The comprehensive study will help both established and emerging players formulate lucrative business strategies and realize their short-term and long-term goals.The Industrial Adhesives industry has witnessed a stable growth rate in the past decade and is expected to continue on the same path in the forthcoming decades.
Therefore, it is crucial to recognize all investment opportunities, potential market threats, restraining factors, challenges, market dynamics, and technological development to intensify footholds in the Industrial Adhesives sector.
This report has evaluated all the above mentioned aspects to present a detailed assessment to the reader to assist them in achieving the desired growth in their businesses.We provide you a thoroughly inspected Competitive Analysis against the global landscape by looking at our Sample Report: https://www.reportsanddata.com/sample-enquiry-form/610Key Players: Toyo Polymer Co. Ltd, Dow Chemical Company, Sika AG, Pidilite Industries, Mitsubishi Chemicals Corporation, Huntsman Corporation, Henkel Adhesive Technologies, 3M Company, Ashland Inc., BASF, H.B.
Fuller, Royal Adhesives & Sealants, Bostik, Covestro, Avery Dennison, Hitachi Chemical Company, Solvay S.A., DuPontSegmentations –Market segment based on Product Type:Solvent-based AdhesivesPressure Sensitive AdhesivesWater-based AdhesivesHot-melt AdhesivesStructural AdhesivesOthersMarket segment based on Application:AutomotiveElectrical & ElectronicsShipbuilding IndustryMechanical EngineeringPlant ConstructionsRegional Industrial Adhesives Market (Regional Output, Demand & Forecast by Countries):- North America (United States, Canada, Mexico)South America (Brazil, Argentina, Ecuador, Chile)Asia Pacific (China, Japan, India, Korea)Europe (Germany, UK, France, Italy)Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and More.
This analysis of the Global Industrial Adhesives Market aims to offer relevant and well-researched insights into the contemporary market scenario and the emergent growth dynamics.
The report on Industrial Adhesives Market also gives the market players and fresh contenders a holistic view of the global market landscape.
The comprehensive study will help both established and emerging players formulate lucrative business strategies and realize their short-term and long-term goals.Key participants include Toyo Polymer Co. Ltd, Dow Chemical Company, Sika AG, Pidilite Industries, Mitsubishi Chemicals Corporation, Huntsman Corporation, Henkel Adhesive Technologies, 3M Company, Ashland Inc., BASF, H.B.
Fuller, Royal Adhesives & Sealants, Bostik, Covestro, Avery Dennison, Hitachi Chemical Company, Solvay S.A., DuPont, others.Get a Free Sample PDF Report to understand our report before you purchase: https://www.reportsanddata.com/sample-enquiry-form/610Scope of the Report:The Industrial Adhesives industry has witnessed a stable growth rate in the past decade and is expected to continue on the same path in the forthcoming decades.
Therefore, it is crucial to recognize all investment opportunities, potential market threats, restraining factors, challenges, market dynamics, and technological development to intensify footholds in the Industrial Adhesives sector.
This report has evaluated all the above mentioned aspects to present a detailed assessment to the reader to assist themMarket segment based on Product Type:Solvent-based AdhesivesPressure Sensitive AdhesivesWater-based AdhesivesHot-melt AdhesivesStructural AdhesivesOthersMarket segment based on Application:AutomotiveElectrical & ElectronicsShipbuilding IndustryMechanical EngineeringPlant ConstructionsDo you have questions about the Report or want to inquire about a Discount?
