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. Growth in the packaging, construction & woodworking, and transportation sectors, preference for high performance adhesives, and technological advancements are some of the key factors expected to drive the growth of the industrial adhesives market. In the past few years, the packaging, construction, and transportation industries worldwide have witnessed significant growth. The need for weight reduction, increased performance, and high safety standards has widened the scope for the development of advanced grades of adhesives in the near future.
Key companies in the industrial adhesives market have been expanding their businesses by adopting strategies of agreements & collaborations, new product launches, and partnerships to strengthen their position in the industrial adhesives market. The strategy of new product launches has been the most preferred growth strategy adopted by leading players operating in the industrial adhesives market.
H. B. Fuller (Minnesota, U.S.), Henkel AG & Co. KGaA (Dusseldorf, Germany), and The Dow Chemical Company (Michigan, U.S.) have reported the maximum number of expansions between 2011 and 2016. These companies have expanded in different geographic locations to meet the increasing demand for industrial adhesives and strengthen their foothold in the industrial adhesives market.
Apart from new product launches, companies have also adopted the strategy of mergers & acquisitions to sustain their market position. For instance, H. B. Fuller (Minnesota, U.S.) has reported the maximum number of mergers & acquisitions in the industrial adhesives market between 2011 and 2016.
Henkel AG & Co. KGaA (Dusseldorf, Germany) is one of the most active players in the industrial adhesives market, with regard to the adoption of growth strategies. The company has undertaken various efforts to modify and innovate its product series in the last five years. It has expanded its business in different regions to increase its global reach, and also cater to the diversified requirements of customers. For instance, in December 2013, Henkel acquired Continental Products Limited, a provider of industrial adhesives in East & Central Africa. This acquisition enabled the company to access the local infrastructural market in Kenya, and other countries of Africa.
H. B. Fuller is an active player in the industrial adhesives market. The company offers a full range of diversified products in different grades for varied applications. The company has launched various new products over the last five years. In May 2016, the company launched Swiftlock 8500, a polyurethane-based high performance book binding adhesive. The product was designed to offer improved spine gluing and gluing-off operations for soft and hard cover books. This development strategy is expected to help the company enhance its product portfolio in the industrial adhesives market.
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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