Inkwood Research estimates that the Global Adhesives Market is evaluated to project a CAGR of 6.22% in terms of revenue and 5.11% in terms of volume during the forecasting years of 2021-2028.
“Browse 74 Market Data Tables and 51 Figures spread over 172 Pages, along with an in-depth TOC on the Global Adhesives Market Forecast 2021-2028.”
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Adhesives adhere or bond two or more substrates together. The compound is generally produced from natural as well as synthetic resources. Several modern adhesives are powerful, and are widely used across industries, such as, construction and automotive. The primary difference between adhesives and sealants is that the latter typically depicts lower strength and higher elongation, than adhesives.
Demand from Construction Industry Fuels market Growth
According to construction majors, the use of adhesives, particularly within the construction industry, holds significant potential for revolutionizing engineering. Adhesives can help transition the design of modern building structures, primarily in areas vulnerable to natural calamities. For instance, drastically reducing a building’s weight can minimize the impact of the catastrophe, during an earthquake. Moreover, the global construction market also witnesses considerable momentum, thereby mitigating weak economic growth.
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Pressure Sensitive was the Dominating Application in terms of Revenue & Volume (2020)
Pressure-sensitive adhesives form a bond on the application of pressure, in order to merge the adhesive and the adherent. Besides, water, solvent, and heat are not required to activate the adhesive. They are mostly used in labels, pressure-sensitive tapes, automobile trim, and note pads, in addition to a wide range of products.
Pressure-sensitive adhesives’ permanent applications entail foil tape for HVAC ductwork, safety labels for power equipment, sound/vibration damping films, and automotive interior trim assembly. On the other hand, removable adhesives are mainly utilized for masking tapes, surface protection films, price marking labels, bookmarks and notepapers, and promotional graphics materials.
Asia Pacific – The Prominent Region in terms of Revenue & Volume
With the increasing demand for adhesives across the Asia Pacific, key players dynamically invest in research initiatives, in order to manufacture eco-friendly products, widely used by several end-users. The region’s predominant application scopes include sectors, such as, footwear and furniture, automotive, construction, and furniture. The need for automotive adhesives has been observing a growing trend over the last ten years. This is attributed to the increased demand for light-weight and fuel-efficient vehicles, with lower emissions. Moreover, the Asia Pacific also witnesses substantial demand for adhesives from aircraft manufacturing industries, thereby propelling the market growth.
The global market is intense and relatively fragmented, as several players manufacture and commercialize adhesives, globally. Enterprises also engage in technologically-fueled projects, striving to address competitive market challenges, concerning product quality, and cost reduction.
Some of the leading players operating in the global adhesives market are, Henkel AG & Co KGaA, Hexcel Corporation, HB Fuller Company, 3M Company, Sika AG, etc.
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