The reactive & other adhesives market consists of sales of reactive & others adhesives which are generally made out of a monomer (resin) and an initiator.
Global Reactive & Other Adhesives Market Size And Drivers:
The global reactive and other adhesives market size is expected to grow from $6.47 billion in 2020 to $6.72 billion in 2021 at a compound annual growth rate (CAGR) of 3.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $7.2 billion in 2025 at a CAGR of 2%. The adhesive market is expected to benefit from growth in the automobiles industry during the forecast period.
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Trends In The Global Reactive & Other Adhesives Market
Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real time insights and locate gaps in the manufacturing process. The data obtained is processed, analysed and interpreted by plant managers and senior level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers on possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company and H.B. Fuller.
Global Reactive & Other Adhesives Market Segments:
The global reactive and other adhesives market is further segmented –
By Type: Epoxy, Acrylic, Silicone, Polyurethane, Others
By Application: Building & Construction, Automotive & Transportation, Power, Electrical & Electronics, Others
By Geography: The global reactive and other adhesive market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Reactive & Other Adhesives Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides reactive & other adhesives market overviews, analyzes and forecasts market size and growth for the global reactive & other adhesives market, reactive & other adhesives market share, reactive & other adhesives market players, reactive & other adhesives market segments and geographies, reactive & other adhesives market’s leading competitors’ revenues, profiles and market shares. The reactive & other adhesives market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
