In a recent published report, Kenneth Research has updated the market report for Adhesives Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Adhesives Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Global Adhesives Market Analysis 2019-2028
Adhesives are composed of different resins which are capable of holding materials together by surface attachment. The rising demand for adhesives in the packaging, medical, furniture, construction, and automotive sectors have necessitated the fabrication of innovative and advanced adhesives. Many factors such as tack, viscosity, melting point, flow rate, and set time determine the formulation and performance of the adhesives on a particular substrate.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
Moreover, the customization of adhesives significantly enhances the overall performance, design, and characteristics of these bonding materials and makes them optimum for many industrial applications. The global adhesives market is estimated to garner around USD 63,000 million by 2028 by growing at a CAGR of 4.6% during the forecast period, i.e.,2021-2028. Increasing demand for various kinds of adhesives used in a diverse range of end-use industries is a key factor anticipated to boost the market growth during the forecast period.
In recent years, the application of adhesives in alternative energy applications is becoming increasingly popular. For instance, RTV silicone adhesive sealants are being increasingly used in the production of solar cells. Similarly, two-part polyurethanes are used in wind turbines to prevent cracks and reduce fatigue.
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The global adhesives market consists of various segments that are segmented by product type, formulation technology, end-use application, and by region. The market is further segmented by product type into acrylic, polyurethane, vinyl, epoxy, styrene, and others. Amongst these, the acrylic segment held a significant market share of around 18% in 2019 in the global adhesives market on the back of its durability, flexibility, and ability to be used in various applications. These adhesives are among the most popular structural adhesives and are widely used to bond metals, glass, and composite materials. The polyurethane segment is among the fastest-growing segments and is expected to grow by a CAGR of around 4% during the forecast period.
These adhesives are used in various applications and therefore work on a variety of surfaces ranging from metals and rubbers to glass, leather, and tiles. The extensive application of these adhesives can be attributed to its durability, tough bonds, and high peel strength. In addition, these adhesives are suitable for low and high temperatures and show resistance to chemicals, water, and humidity.
Based on region, the global adhesives market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
The market in Asia Pacific region in expected to record highest CAGR during the forecast period. This significant market share and growth are attributed to the region’s ever improving macroeconomic factors including population, GDP, and per capita income. The increasing research and development in Asia Pacific region have efficiently increased the adoption & development rate of adhesives in automobile, construction, textile, footwear, packaging, and furniture industry.
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
Promienent Key Players of Global Market
Some of the affluent industry leaders in the global adhesives market are BASF SE, Henkel AG & Co. KGaA, H.B. Fuller Company, Bostik, Sika AG, RPM International Inc., Royal Adhesives, Huntsman International LLC, Illinois Tool Works Inc., 3M, and others.
Business Questions answered by the report
- What might be the outcome of the BPS analysis for the Global Adhesives Market?
- At what compound annual growth rate is the market in the region growing?
- What are the probable growth drivers for the growth of the market?
- What exactly is the remuneration that each geography holds?
- Which region is anticipated to accumulate the maximum market share by the end of the forecast period?
- What are the revenues of the segments for the Market?
- Who are the key players for the Global Adhesives market?
Customization Scope for the Client
Client satisfaction is our first and last priority. And that’s why Kenneth Research offers customization according to Company’s specific needs.
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
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