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Industrial Adhesives Market- Future Demand and Growth Analysis with forecast 2024: Acumen Research and Consulting

Press Release   •   Nov 04, 2017 03:24 EDT

Introduction

Any substance that is applied to the material surface for binding them together is known as adhesives. Adhesives used for industrial purposes are the industrial adhesives. The first industrial adhesive came into use with the establishment of first ever glue plant in 1690 in Holland. Pigments, fillers, plasticizers, and other additives are mixed with the base materials such as natural rubber, starch, synthetic polymer, polyvinyl acetate, and neoprene to form industrial adhesives. Adhesives offer huge advantages to the industrial works by fixing materials of different shapes and sizes. Industrial adhesives also provide resistant from corrosion with the reduction in the weight of products. Natural polymers and synthetic polymers are the main raw materials for industrial adhesives.

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Market Dynamics

The rapidly growing packaging, automotive, infrastructure construction and woodworking are the driving factors for the growth of industrial adhesives market. Technological advancement for better industrial adhesive products will also drive the market for industrial adhesives in the coming years. The technological advancement is also likely to influence the cost for industrial adhesives products. Government regulations regarding the production of products with less VOC (Volatile organic compounds) content hampers the growth of industrial adhesives market. The fluctuating raw material prices of the industrial adhesives also hinder the market growth. Other restraining factor for the growth of industrial adhesives includes huge investment required for R&D of new products containing less VOC content. The sudden demand for lightweight vehicles that emit less VOC content is major opportunity for industrial adhesives in the coming years.

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Market Classification and Overview

The Global Industrial Adhesives Market can be segmented based on composition, type, end-use industry, and geography. Acrylic, vinyl, epoxy resins, polyolefin polymers, rubber, and amine-based resins are the various industrial adhesives based on composition. Solvent-based adhesives, pressure sensitive adhesives, water-based adhesives, hot-melt adhesives, and others are the types of industrial adhesives used across industries. The end-use industries include packaging industry, construction & woodworking industry, automotive industry, energy and utilities, electrical and electronics, and industrial assembly. Based on composition, acrylic segment dominated the industrial adhesives market in 2015 and is also likely to witness highest growth during the forecast period owing to the growing demand from packaging industry. Other growth factors include its properties such as viscosity, resistance from moisture and heat, strong adhesion, and high solidity. Based on type, water based segment accounted for the largest share in the industrial adhesives market as the segment offers excellent strength, and the reduction of automotive emission. Water based adhesives also abides by the government regulations regarding low emission of VOC content in environment. Among the end-use industries, packaging industry was the leading segment of industrial adhesives in 2015. Packaging industry uses industrial adhesives for packing of various products for instance vegetables, seafood, cosmetics, furniture, and poultry items.

The market for industrial adhesives is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). Asia-Pacific was the largest market for industrial adhesives, in terms of value and volume, in 2015. Growing number of production facilities across the globe; growing investments from foreign companies; strong industrial base in infrastructure construction sector and rise in living standards are the major factors accounting for the growth of concrete industrial adhesives market in this region. The demand for industrial adhesives in the regions like North America and Europe is likely to increase in the future years owing to the heavy investment by key manufacturers for development of bio-based alternatives. In LAMEA region, the market for industrial adhesives will grow due to increased construction activities in countries such as Brazil, UAE, Saudi Arabia and parts of Africa.

Report Coverage

Market Global Industrial Adhesives Market
Analysis Period 2014 – 2024
Historic Data 2014 – 2015
Base Year 2016
Forecast Data 2017 – 2024
Market Stratification Composition, Type, End Use Industry, Geography
Regional Scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis



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Market Participants

Companies in this market are focusing on R&D of adhesives from bio-based sources in order to meet government regulations on production of industrial adhesives with low VOC emission. Some of the players involved in the manufacture and supply of industrial adhesives include Pidilite Industries Limited, H. B. Fuller, Huntsman Corporation, Henkel AG & Company, 3M Company, The Dow Chemical Company, Sika AG, BASF SE, Solvay Group, and E. I. Du Pont De Nemours and Company.

Market Segmentation

Market by Composition

Acrylic

Vinyl

Epoxy resins

Polyolefin polymers

Rubber

Amine-based resins

Market by Type

Solvent-based adhesives

Pressure sensitive adhesives

Water-based adhesives

Hot-melt adhesives

Others

Market by End Use Industry

Packaging industry

Construction & woodworking industry

Automotive industry

Energy and utilities

Electrical and electronics

Industrial assembly

Market by Geography

North America

o US

o Canada

o Mexico

Europe

o UK

o Germany

o France

o Rest of Europe

Asia-Pacific

o China

o Japan

o India

o Philippines

o Rest of Asia-Pacific

Latin America

o Brazil

o Chile

o Rest of Latin America

Middle East and Africa (MEA)

o South Africa

o Saudi Arabia

o Rest of MEA

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About Us

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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