Adhesives manufacturing Market Characteristics
The adhesives manufacturing market consists of the sales of adhesives, glues and caulking compounds by entities (organizations, sole traders or partnerships) that produce adhesives, glues and caulking compounds.
Competitive Landscape of the Adhesives Market
Major players in the global adhesives market include 3M, Henkel, Sika AG, Dow Chemical Co, BASF
Adhesives Market Size
The adhesives market size is expected to reach $80 billion by 2022, significantly growing at a CAGR of around 5% during the forecast period. The growth in the adhesives market is due to increasing mergers and acquisitions (M&A) and emerging market growth.
However, the market for adhesives is expected to face certain restraints from several factors such as increasing interest rate and reduction in free trade.
Adhesives Market Segmentation
The global adhesives market is further segmented based on type and geography.
By Type - The adhesives market is segmented into water-based, solvent-based, hot-melt-based, reactive & others. Among these segments, the water-based market accounts for the largest share in the global adhesives market.
By Geography - The global adhesives is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific region accounted for the largest region in the global adhesives market.
Trends in the Adhesives Market
Adhesives are being developed to increase efficiencies of engineers and to increase assembly and processing speed. Since mechanical fasteners do not allow expansion or contraction of joined materials during temperature variations, adhesives are being used to accommodate movements caused by thermal expansion of substrates even after they are fully cured. Adhesives are being used to join composites instead of fasteners because drilling holes can damage composites which leads to loss of time and money.
Potential Opportunities in the Adhesives Market
With increase in technology development and increased demand in the automobile industry, the scope and potential for the global adhesives market is expected to significantly rise in the forecast period.
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