According to this latest publication from Meticulous Research, the global adhesives market will grow at a CAGR of 4.5% during the forecast period to reach USD 53,503.0 million by 2022, driven by growing demand for consumer goods with rising urbanization & improving lifestyle; rising demands for hot melts adhesives; and growing automotive industry with rising demand for lightweight and low carbon emitted vehicles. Further, growing demand from emerging economies and increasing need for eco-friendly, low VOC, & green sustainable adhesives offers significant opportunities for the growth of adhesives market during the forecast period. However, volatile raw material prices hamper the growth of this market to some extent.
The global adhesives market is mainly segmented by type into non-reactive adhesives (water based adhesives, solvent based adhesives, pressure sensitive adhesives, and hot melt adhesives), reactive adhesives (multi-pat adhesives and one-party adhesives). The one part adhesives market is further segmented into heat curing adhesives, moisture curing adhesives, and UV curing adhesives. The market is also analyzed by application (packaging industry, construction industry, automotive industry, electronics & electrical industry, furniture & laminates industry, leather & footwear industry, consumer/do-it-yourself, medical industry and others), by origin [natural and synthetic (acrylics, polyvinyl acetate, vinyl acetate-ethylene, polyurethane, ethylene-vinyl acetate, polyethylene, and others) and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Global Adhesives Market, By Application, 2017- 2022
Source: Meticulous Research Analysis
Asia-Pacific region holds the major share in the global adhesives market, followed by Europe, and North America. The large share of this region is primarily attributed to the huge demand for adhesives in industrial manufacturing. In addition, rising industrialization; infrastructural developments, and increasing private & government investment in these sectors; rising demand for various consumer goods from large population base; growing income level; and rising urbanization are the other major factors propelling the growth of the Asia-Pacific adhesives market. Asia-Pacific region is also the fastest growing regional market in the global adhesives industry.
The leading players in adhesives market have employed various strategies to expand their product & application offerings, global footprint, and augment their market share. The key strategies followed by most companies in the global adhesives market were new product launches & product enhancement, mergers & acquisitions, and expansions. New product launches & product enhancements was the most preferred growth strategy adopted by the key players, during the period of 2014-2017, enabling companies to expand their product offerings and ensure a competitive edge in the global adhesives market.
The key players in the global adhesives market are 3M (U.S.), H.B. Fuller (U.S.), Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (U.S.), and Sika AG (Switzerland), Arkema (France), Huntsman Corporation (U.S.), Avery Dennison (U.S.) Wacker Chemie AG (Germany), Royal Adhesives and Sealants (U.S.), Franklin International, Inc. (U.S.), LORD Corporation (U.S.), and Illinois Tool Works Inc. (U.S.).
Scope of the report
Market by Type:
Water based adhesives
Solvent based adhesives
Hot melt adhesives
Pressure sensitive adhesives
Temperature curing adhesives
Moisture curing adhesives
UV curing adhesives
Market by Origin:
Polyvinyl acetate (PVAC)
Vinyl acetate-ethylene (VAE)
Ethylene-vinyl acetate (EVA)
Market by Application:
Electronics & electrical industry
Furniture & laminates industry
Leather & footwear industry
Market by Geography
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Middle East & Africa
Key questions answered in the report-
Which are the high growth market segments in terms of product type, application, and regions/countries?
- What is the historical market for adhesives across the globe?
- What are the market forecasts and estimates from the period 2015-2022?
- What are the major drivers, restraints, and trends in the global adhesives market?
- Who are the major players in the global adhesives market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- What are the recent developments in the global adhesives market?
- What are the different strategies adopted by the major players in the global adhesives market?
- What are the geographical trends and high growth regions/countries?
- Who are the local emerging players in the global adhesives market and how do they compete with the global players?