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Industrial Adhesives Market worth 53.37 Billion USD by 2021
The report "Industrial Adhesives Market by Type (Water-based Adhesives, Solvent-based Adhesives, Hot-Melt Adhesives, Pressure Sensitive Adhesives), Material Base (Synthetic, Natural), Composition, End-Use Industry, and Region - Global Forecast to 2021", The industrial adhesives market is projected to grow from USD 41.47 Billion in 2016 to USD 53.37 Billion by 2021, at a CAGR of 5.2% between 2016 and 2021.
Browse 127 market data Tables and 62 Figures spread through 202 Pages and in-depth TOC on "Industrial Adhesives Market by Type (Water-based Adhesives, Solvent-based Adhesives, Hot-Melt Adhesives, Pressure Sensitive Adhesives), Material Base (Synthetic, Natural), Composition, End-Use Industry, and Region - Global Forecast to 2021"
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Growth in the packaging, construction & woodworking, and transportation sectors, preference for high performance adhesives, and technological advancements in the field of industrial adhesives are some of the key factors expected to drive the growth of the market in the near future.
Construction & woodworking end-use industry is projected to lead the industrial adhesives market during the forecast period
In terms of value, among all end-use industries, the construction & woodworking segment accounted for the largest share of the industrial adhesives market in 2015. This segment is expected to grow at the highest CAGR from 2016 to 2021. In the construction industry, industrial adhesives are used in various applications, such as flooring, tiling, waterproofing, carpeting, wall covering, insulation, and roofing. Industrial adhesives are an important part of the construction industry and are used for bonding, renovation, maintenance, and repairing in residential, commercial, and civil constructions.
The acrylic composition segment is projected to lead the industrial adhesives market between 2016 and 2021
The acrylic composition segment accounted for the largest share of the industrial adhesives market in 2015. Acrylic is the most popular material used for adhesives due to its capability to bond multiple objects. The structure of acrylic is similar to that of vinyl, however, both these materials exhibit different properties. Acrylic adhesives are resistant to sunlight and water/moisture, and can withstand temperature fluctuations.
The Asia-Pacific region is anticipated to lead the industrial adhesives market
The Asia-Pacific region is the largest market for industrial adhesives. This growth can be attributed to the presence of emerging countries in this region, such as China and India. The industrial adhesives market in India is expected to grow at the highest CAGR between 2016 and 2021, owing to the presence of key players such as Pidilite Industries Limited (Mumbai) and the rising demand for industrial adhesives from end-use industries, such as packaging and construction & woodworking. In the recent years, China has recorded a decline in the import of adhesives, owing to the establishment of raw material plants in this country. In 2013, Henkel AG & Co. KGaA established the world’s largest adhesives production facility in Shanghai. Such investments are expected to positively influence the growth of the industrial adhesives market during the forecast period.
Some of the key players operating in the industrial adhesives market include H.B. Fuller (Minnesota, U.S.), Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (U.S.), and Sika AG (Switzerland), among others.
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