The global industrial adhesives market is expected to reach
USD 57.12 billion by 2022, according to a new report by Grand View Research,
Inc. Growth of key end-use industries such as packaging, construction and
automotive is expected to remain a key driving factor for global industrial
adhesives market over the forecast period.
Growing demand for eco-friendly
materials has led to the development of bio-based adhesives. This trend is
likely to foster replacement of conventional metal, wood and other fasteners
with adhesives to bond a wide array of substrates. Increasing industrial output
in emerging nations such as China, India, Brazil and Mexico has also impacted
the market positively.
Acrylics were the leading product
type with demand share exceeding 40% in 2014. Increasing requirement for
adhesion products with aesthetic appeal, high bond strength across dissimilar
substrates and contaminated surfaces is a key determinant for industry
development. They are also expected to witness the highest growth of 4.4% from
2015 to 2022.
U.S. Industrial Adhesives Market Revenue By Product,
2012-2022, (USD Million)
Browse full research
report on Industrial Adhesives Market: http://www.grandviewresearch.com/industry-analysis/industrial-adhesives-market
Further key findings from the report suggest:
- Global industrial adhesives market size was 9.40
million tons in 2014 and is expected to reach 12.94 million tons by 2022,
growing at a CAGR of 4.1% from 2015 to 2022.
- Packaging was the leading application segment and
accounted for 30.3% of total market volume in 2014. Increasing demand for
quicker assembly time, high bond strength in carton sealing and corrugated
box manufacturing led to high consumption in packaging industry. Packaging
is also expected to witness the highest growth of 4.7% from 2015 to 2022.
- Asia Pacific was the largest consumer and accounted
for 42.3% of total volume in 2014. The region is characterized by
increasing consumer disposable income and high growth in packaging,
construction, and automotive industries mainly in China, India and
Southeast Asia.
- Developed markets of North America and Europe are
characterized by growing demand for bio-based adhesives on account of
growing regulatory pressure and consumer awareness. Europe is expected to
witness moderate growth of 2.5% from 2015 to 2022.
- Global industrial adhesives market share is
characterized by multinational corporations which are integrated along the
value chain. There is considerable presence of standalone independent
manufacturers, particularly with emergence of SME landscape in China. Key
companies in the industry include The Dow Chemical Company, Henkel, Cytec
Industries, Mitsubishi Chemicals, Lord Corporation, Avery Dennison, and
Covestro (formerly Bayer MaterialScience).
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-industrial-adhesives-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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