Global Automotive Adhesives Market

The automotive airbag silicone market consists of sales of automotive airbag silicone and related services by entities (organizations, sole traders, and partnerships that manufacture automotive airbag silicone. Automotive airbags contain silicone which offers various properties such as thermal resistance, slip, and protection. If there is a car crash then airbags create heat and passengers in the car risk getting burnt, therefore applying a thin layer of silicone to the airbag will help protect the fabric from heat and prevent burn to passengers. Only goods and services traded between entities or sold to end consumers are included. The main types in the automotive airbag silicone market are cut-and-sewn seam-sealed, one-piece-woven. An inflatable vehicle occupant protection device will have a one-piece woven (OPW) construction in which overlying fabric panels are woven simultaneously. The positions involved are front, knee, curtain/side, and others. The vehicle types involved are passenger cars, HCV, HCV. The global automotive airbag silicone market size is expected to grow from $235.89 million in 2021 to $318.75 million in 2022 at a compound annual growth rate (CAGR) of 35.1%. The global automotive airbag silicone market size is expected to grow to $610.77 million in 2026 at a CAGR of 17.7%. Airbags are made mandatory in front seats for vehicles and this factor is expected to drive the automotive airbag silicone market during the forecast period. Airbags are complex devices that work with a vehicles’ metal body and seatbelts to protect occupants and therefore it is made mandatory for vehicles to have airbags at least in front seats as occupant and driver seating in first seats are at high risk of injury when there is any collision or accident. For instance, in India, vehicles manufactured on and after 1st Day of April 2021, in the case of new models, and 1st day of June 2021, in the case of existing models, shall be fitted with airbag for the person occupying the front seat, other than the driver. Thus, making airbags compulsory for front seats in vehicles is driving the market. The increasing development of active safety systems is expected to limit the growth of the automotive airbag silicone market. The active safety system in a car works to prevent an accident. These systems are always active while the car is in driving mode and works continuously to keep the occupants safe from getting into an accident. The active safety systems include automatic emergency braking (AEB), forward collision warning (FCW), active cruise control (ACC), lane departure warning (LDW), lane-keeping assist (LKA), blind-spot monitoring, rear cross-traffic alert (RCTA). According to Consumer Reports, in 2019, the survey covered around 72,000 vehicles, 81% of the car owners are satisfied with automatic emergency braking, 54% of the car owners said the active safety system helped them avoid a crash. The increasing development of active safety systems hurts the automotive airbag silicone market. Innovative airbags design with silicone rubber fabric coatings and seam sealants is an emerging trend in the automotive airbag silicone market. Silicone rubber fabric coatings and seam sealants help airbag design integrity to enhance occupant impact protection and safety. For instance, Dow’s SILASTIC™ silicone engineered elastomers are proven, effective solutions for advanced airbag design. This innovative product meets industry and regulatory requirements for use on cut-and-sewn, seam-sealed (CSSS) airbags, and one-piece-woven (OPW) airbags. It can be included in side curtain airbags, front-center airbags, knee-bolster airbags, frontal airbags (driver and passenger), and side airbags. Major players in the automotive airbag silicone market are Dow, Elkem Silicones, Shin-Etsu Chemical, Wacker Chemie AG, TORAY Industries, Toyobo, Zodiac, and Porcher Industries. North America was the largest region in the automotive airbag silicone market in 2021. The Middle East was the second largest region in the global silicone automotive airbag market. The regions covered in the global automotive airbag market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the automotive airbag silicone market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global automotive airbag silicone market is segmented - 1) By Airbag Type: Cut-and-Sewn Seam-Sealed (CSSS), One-Piece-Woven (OPW) 2) By Airbag Position: Front, Knee, Curtain/Side, Others 3) By Vehicle Type: Passenger Cars, LCV, HCV

The automotive equipment leasing market consists of sales of automotive equipment renting or leasing services by entities (organizations, sole traders and partnerships) that provide passenger cars and truck/vans, utility trailer, and recreational vehicle (RV) without drivers and utility trailers. These establishments generally operate a retail store like facility for automotive equipment renting and leasing. Some automotive equipment rental and leasing companies offer short-term rental or long-term leases, while others provide both types of services. The main types of automotive equipment leasing are passenger car rental, passenger car leasing, truck, utility trailer, and RV (recreational vehicle) rental and leasing. The passenger automobile rental sector consists of businesses that rent or lease passenger cars without drivers. The different modes include online, offline and involves various lease types such as closed ended lease, option to buy lease, sub-vented lease, others. The global automotive equipment leasing market size is expected to grow from $381.11 billion in 2021 to $435.28 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The growth in the automotive equipment leasing market 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 automotive equipment leasing market is expected to reach $717.38 billion in 2026 at a CAGR of 13.3%. Technological advances will be a key driver of the automotive equipment rental and leasing market in the forecast period. Digital technologies such as the internet of things (IoT) and big data are increasingly being used by car leasing companies to better manage their fleet, reduce operational costs and improve customer service. Innovations in mobility technologies such as in-car navigation and automation will also drive the demand for leased vehicles, especially among millennials. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the automotive equipment leasing market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the automotive equipment leasing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the automotive equipment leasing market or the global economy. Automotive equipment leasing companies are using technologies such as big data to improve customer service and increase vehicle life. Big data involves large amounts of data that can be analysed to gain insights and drive decision making. Big data would allow the leasing company to remind the driver to book a car for the service or replace engine oil. This technology could also help leasing companies in minimizing driver risk and prevent the number of accidents, by giving the companies insights about the driving habits and whereabouts of its fleet. Companies such as Lex Auto lease have been increasingly using big data to drive cost reduction and risk mitigation. Major companies in the automotive equipment leasing market include Enterprise Holdings Inc, Daimler AG, LeasePlan Corporation N.V., Ford Motor Co, Berkshire Hathaway Inc., Avis Budget Group Inc., Hertz Global Holdings Inc., ALD Automotive, Penske Truck Leasing and Ryder System Inc. Western Europe was the largest region in the automotive equipment leasing market in 2021. Asia Pacific was the second largest region in the automotive equipment leasing market. The regions covered in the automotive equipment leasing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive equipment leasing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global automotive equipment leasing market is segmented - 1) By Type: Passenger Car Rental, Passenger Car Leasing, Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing 2) By Mode: Online, Offline 3) By Lease Type: Closed Ended Lease, Option to Buy Lease, Sub-Vented Lease, Others

Chemicals By End Use Market Characteristics

The automotive cables market consists of sales of automotive cables and related services used for data transmission and electrical connections in automotive. Automotive cables are flexibles and are made of aluminum alloy to reduce the weight of the cables in an automobile. Automotive cables are used in lighting, in instrumental panel circuits in automobiles. These are used as battery cables, multimedia, coaxial cables, multi-core screened cables, sheathed ABS Sensor cables. The main product types of automotive cables are copper core, aluminum core, and others. A copper core cable is a collection of two or more copper wires wrapped in a single sheath or jacket. Automotive cables are sold through direct channels and distribution sales channels. The various applications include automotive primary wire and battery cable, brake cable, trailer cable, car speaker wire, and fusible link wire. The global automotive cables market size is expected to grow from $4.23 billion in 2021 to $4.66 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The growth in the automotive cables market is mainly due to the companies resuming their operations and adapting to the new normal while 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 automotive cables market is expected to reach $6.19 billion in 2026 at a CAGR of 7.4%. The increasing demand for automotive promotes the growth of the automotive cables market. Automotive cables are used in automobiles in starting, charging, lighting, signaling, and in instrument panel circuits. For instance, battery cables in automotive are used to connect the battery to the car’s electrical system. The increasing demand for automotive will require automotive companies to increase their production and in turn, increase the demand for automotive cables. According to the 2019 report by the U.S Bureau of Economic Analysis, auto manufacturing contributed $327.1 billion in GDP whereas $218.3 billion was contributed by vehicle retail sales in GDP. Also, 18.7 million electric vehicles are expected to be in use by 2030. Thus, the growth of the automotive cables market is positively impacted by the increase in the demand for automotive cables market. The growth of the automotive cables market is hindered by the growing availability of counterfeit auto parts including automotive cables. Cheap counterfeited cables are responsible for major revenue loss for authentic cable manufacturers. Apart from being priced low, these cables also increase the risk of accidents because of their low quality. The availability of counterfeited cables forces genuine manufacturers to spend heavy amounts to stop the sale of counterfeited products. According to the Federation of Indian Chambers of Commerce and Industry report, about 20% of all road accidents in India are attributed to counterfeit automotive parts with Rs 2,200 crore revenue being lost by the government due to these counterfeit products. Thus, the availability of counterfeit auto parts hampers the growth of the automotive cables market. The companies in the automotive cables market are investing towards the substitution of copper with aluminum in battery cables to save manufacturing costs and reduce weight. Aluminum used is one-third the weight of copper and is less expensive than copper. The replacement holds no significant difference in the performance of the cable. Following the trend in 2019, LEONI Kabel, a Germany-based cable and harnessing manufacturing firm, has started replacing copper with aluminum in its automotive cables. Another company, Jaguar, a U.K based car manufacturer, has also started using aluminum in its cables. In June 2019, TPC Wire & Cable Corp. (TPC), a USA-based provider of premium electrical wire and cable solutions, acquired EZ Form Cable Corporation for an undisclosed amount. Through the acquisition, TPC aims to strengthen its wire and cables solutions by utilizing wiring and cables solutions from EZ Form Cable Corporation's portfolio. EZ Form Cable Corporation is a USA-based provider of RF connectors, coaxial cable, and coaxial cable assemblies. Major players in the automotive cables market are Sumitomo Corporation, Coficab Tunisie SA, Leoni, Delphi Automotive PLC, General Cable, Furukawa Electric, Lear Corporation, Coficab Group, Yazaki Corporation, and Allied Wire & Cable Inc.. Asia-Pacific was the largest region in the automotive cables market in 2021. The regions covered in the automotive cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the aircraft cables market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global automotive cables market is segmented - 1) By Product Type: Copper Core, Aluminum Core, Others 2) By Sales Channel: Direct Channel, Distribution Channel 3) By Application: Automotive Primary Wire and Battery Cable, Brake Cable, Trailer Cable, Car Speaker Wire, Fusible Link Wire

The adhesive tapes market consists of sales of adhesive tapes by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling the adhesive tapes. Adhesive tapes are a combination of a material and an adhesive layer that can be used to join two objects or materials together. It consists of a pressure-sensitive adhesive, which is coated onto a backing material like paper, plastic film, cloth, or metal foil and has removable release liners protecting the adhesive before usage. The main resin types of adhesive tapes are acrylic, rubber, silicone, and other resin types. Silicone is defined as an inert synthetic compound that can be in the form of rubber, resin, or oil. They are generally present in adhesives, sealants, medical applications, lubricants, insulation, and cookware. The major material types of adhesive tapes are polypropylene (PP), paper, polyvinyl chloride (PVC), and other material types. The main technology types of adhesive tapes include solvent-based, hot-melt-based, and water-based. The various end-uses of adhesive tapes are packaging, consumer and office, healthcare, automotive, electrical and electronics, building and construction, and Other End Users. The global adhesive tapes market size is expected to grow from $60.82 billion in 2021 to $65.24 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The adhesive tapes market size is expected to grow to $83.91 billion in 2026 at a CAGR of 6.5%. The growth of the automotive industry and the rapid rise in demand for adhesive tapes from the automotive sector worldwide are expected to propel the adhesive tapes market during the forecast period. Adhesive tapes are lightweight, compact, and smooth, making them ideal for use in car interiors for bonding electronic products, parking sensor retainers, door cladding, spoiler, and seals among others. The global passenger car market is expected to increase from $1321.7 billion in 2020 to $1988.7 billion by 2025. Due to an increased affinity for lightweight, metal fasteners are increasingly being replaced in cars with adhesive tapes, thus, the increased production of automobiles will lead to a rise in the demand for adhesive tapes and boost their sales. Adhesive products are potentially hazardous during the manufacturing stages, which negatively impacted the growth of the adhesive tapes market in the historic period. This is mainly because the manufacturing processes involve high temperatures and high-pressure reactions which can be dangerous unless controlled carefully. Due to this, regulations in the adhesives industry – in assessing and managing the risks involved in the manufacturing, transporting, and disposing of chemicals – increased in the historic period. Adhesives have to be compliant with complex regulations that govern the labeling, handling, manufacturing, shipping, and storage of the product. Additional compliance costs due to changing regulations, as different countries and geographies have different regulations, were a major restraint for adhesive tape companies. The launch of eco-friendly tapes is a key trend in the adhesive tapes market. Several countries around the world have banned the use of toxic materials used in the manufacture of adhesive goods. Increased demand for recyclable tapes has been driven by federal policies as well as a change in end-user emphasis toward environmentally sustainable goods. Many companies are shifting from plastic to bio-degradable materials like paper and cellulose for manufacturing tapes. For instance, in January 2021, Italy-based IRPLAST launched its ECO+ tape which is made of 34% post-industrial recycled IRPLAST BOPP film. The cores are made from recycled cardboard and the tape reduces emissions with no loss in adhesion quality. In another instance, in January 2020, Monta, a German-based manufacturer of self-adhesive tapes for packaging and consumer use, has introduced Monta Biopack, a modern self-adhesive tape. Monta Biopack is made up of about 90% renewable materials. This environmentally friendly adhesive tape biodegrades in a matter of months, closing the natural recycle circle. In March 2021, ATP Adhesive Systems Group, a Switzerland-based company engaged in developing and manufacturing client-specific adhesive products announced the acquisition of BDK Industrial Products Ltd. for an undisclosed amount. The acquisition is expected to improve the market position of both the companies and help them to provide a broader variety of customized products such as medical adhesive tapes and customized adhesive tapes to their clients. BDK Industrial Products Ltd. is a UK-based specialized adhesive tape converter that has developed itself as a solution provider for healthcare and other industrial customers. Major players in the adhesive tapes market are 3M, Nitto Denko Corporation, Tesa SE, Lintec Corporation, Avery Dennison Corporation, Intertape Polymer Group Inc, Henkel AG, Lohmann GmbH & Co., Scapa Group PLC, and DuPont de Nemours Inc. The Asia Pacific was the largest region in the adhesive tapes market in 2021. The region is predicted to record the fastest growth over the forecast period. The regions covered in the global adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the adhesive tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global adhesive tapes market is segmented - 1) By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types 2) By Material Type: Polypropylene (PP), Paper, Polyvinyl Chloride (PVC), Other Material Types 3) By Technology Type: Solvent-Based, Hot-Melt Based, Water-Based 4) By End User: Packaging, Consumer and Office, Healthcare, Automotive, Electrical and Electronics, Building and Construction, Other End Users

The hot-melt-based adhesives market consists of sales of hot-melt-based adhesives. Hot-melt-based adhesives are known as hot glue, a form of thermoplastic adhesive that is heated to create a melt before applying to the surface and is designed to be melted in an electric hot glue gun. The main types of hot-melt-based adhesives are thermoplastic polyurethane, ethylene vinyl acetate, styrenic-butadiene copolymers, polyolefins, polyamide, and other resin types. Polyamide is a polymer in which the amide group (CONH) connects the monomer units. The hot-melt-based adhesives are applied in packaging solutions, nonwoven hygiene products, furniture and woodwork, bookbinding, and other sectors that are used by building and construction, packaging, transportation, electrical and electronic appliances, healthcare, and other industries. The global hot-melt-based adhesives market is expected to grow from $14.14 billion in 2021 to $15.58 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The market is expected to grow to $22.13 billion in 2026 at a CAGR of 9.2%. With growing awareness to preserve the environment, customers/consumers are fetching for eco-friendly products. Features like affordability, non-release of VOC into the environment, longer shelf life, reusability without degradation, and fast-drying ability are making hot melt adhesives as environmentally friendly adhesives when compared to other adhesives. For example, companies such as Bostik, is providing hot-melt polyurethane adhesive for the textile industry by using a solventless technology that reduces the usage of hazardous solvent like methylene chloride. There is a visible success of hot-melt polyurethane adhesive in underwear, sportswear, and medical garment manufacturers in Asia. The increasing demand for hot-melt polyurethane adhesives will drive the hot melt adhesives market. Many products produced by adhesives companies are potentially hazardous during the manufacturing stages. This is mainly because the manufacturing processes involve high temperatures and high-pressure reactions which can be dangerous unless controlled carefully. In addition, some of these manufactured dyes harm both living organisms and the environment. Due to this, regulations in the adhesives industry – in assessing and managing the risks involved in the manufacturing, transporting, and disposing of chemicals – increased in the historic period. Adhesives have to be compliant with complex regulations that govern the labeling, handling, manufacturing, shipping, and storage of the product. Additional compliance costs for these changing regulations, as different countries and geographies have different regulations, were a major restraint for hot melt-based adhesives companies. Many hot melt-based 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, analyzed, 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 of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. Major players in the hot-melt-based adhesives market are Jowat Se, Sika AG, Tex Year Industries Inc., DowDuPont, Costchem SRL, American Chemical Inc., Bostik Inc., Huntsman Corp., Beardow & Adams Ltd., and Hexcel Corporation. Asia Pacific was the largest region in the hot-melt-based adhesives market in 2021. North America was the second-largest region in the hot-melt-based adhesives market. The regions covered in the hot-melt-based adhesives report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hot melt-based adhesives market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global hot melt based adhesives market is segmented - 1) By Type: Thermoplastic Polyurethane, Ethylene Vinyl Acetate, Styrenic-butadiene Copolymers, Polyolefins, Polyamide, Other Resin Types 2) By Application: Packaging Solutions, Nonwoven Hygiene Products, Furniture & Woodwork, Bookbinding, Other Applications 3) By End User: Building and Construction, Packaging, Transportation, Electrical and Electronic Appliances, Healthcare, Other End Users

The plastic adhesives market consists of sales of plastic adhesives by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing plastic adhesives. Plastic adhesives refer to a special type of adhesives used for bonding plastic materials. The main resin types of plastic adhesives are epoxy, polyurethane, acrylic, silicone, MMA, cyanoacrylate, and other resin types. Silicone is defined as an inert synthetic compound that can be in the form of rubber, resin, or oil. They are generally present in adhesives, sealants, medical applications, lubricants, insulation, and cookware. The major technologies involved in plastic adhesives are solvent-based and water-based. The various end-users of plastic adhesives include automotive, building and construction, electrical and electronics, medical, packaging, and other end-users. The global plastic adhesives market size is expected to grow from $6.71 billion in 2021 to $7.27 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The global plastic adhesives market size is expected to grow to $9.75 billion in 2026 at a CAGR of 7.6%. Increasing demand for plastic adhesives from the construction sector coupled with the growth of the construction industry is anticipated to boost the demand for the plastic adhesives market over the forecast period. In the construction sector, adhesives are used in the adhesion of ceramic tiles, carpet laying, manufactured housing and prefabricated housing, fixing of vinyl or resilient flooring, pre-finished panels, fixing roof titles or systems, fixing floor or drywall lamination, and other applications. Economic growth and a rapidly growing urban population are expected to increase the demand for new residential and commercial buildings during the forecast period, thus increasing the demand for adhesives. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam, and the Philippines which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, the urban population in South Asia is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for infrastructure and drive the adhesives market going forward. Adhesive products are potentially hazardous during the manufacturing stages, which negatively impacted the growth of the plastic adhesive market in the historic period. This is mainly because the manufacturing processes involve high temperatures and high-pressure reactions which can be dangerous unless controlled carefully. Due to this, regulations in the adhesives industry – in assessing and managing the risks involved in the manufacturing, transporting, and disposing of chemicals – increased in the historic period. Adhesives have to be compliant with complex regulations that govern the labeling, handling, manufacturing, shipping, and storage of the product. Additional compliance costs due to changing regulations, as different countries and geographies have different regulations, were a major restraint for plastic adhesives companies. Plastic adhesive companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters that help improve operational efficiency in manufacturing facilities. For example, in 2020, Henkel invested $55 million for new adhesives facility in India. This factory is expected to be the largest adhesive manufacturing site in India, the smart manufacturing unit will be launched near Pune and it aims to meet the growing demands of high-performance solutions in adhesives, sealants, and surface treatment products within the Asian country. Companies such as IBG use automated processes and high quality to achieve high efficiency and standardized work. IBG offers various automated systems used for bonding and sealing with different adhesives and sealants, as well as turnkey plants. In October 2020, Pidilite, an Indian company that specializes in the manufacturing of adhesives, they also sell various industrial and construction chemicals, acquired Huntsmans India unit for $284 million US. The acquisition is expected to help Pidilite strengthen its portfolio by adding Araldite to its portfolio of products. Also, in addition to the Indian subcontinent business, the acquisition includes a trademark license for Middle East, Africa, and ASEAN countries. Huntsman Corporation specializes in the manufacturing and marketing of chemical products. Huntsman Corporation was founded in 1982. Huntsman Corporation is an American company, headquartered in Texas. Major players in the plastic adhesives market are H.B. Fuller Company, Henkel Corporation, 3M Company, Permabond LLC, Sika AG, DowDuPont, Parker Hannifin Corporation, Master Bond Inc., Huntsman International Llc., and Arkema. The Asia Pacific was the largest region in the plastic adhesives market in 2021. The regions covered in the global plastic adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the plastic adhesives market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global plastic adhesives market is segmented - 1) By Resin Type: Epoxy, Polyurethane, Acrylic, Silicone, MMA, Cyanoacrylate, Other Resin Types 2) By Technology: Solvent-based, Water-based 3) By End Userr: Automotive, Building and Construction, Electrical and Electronics, Medical, Packaging, Other End-Users

The adhesives 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. The main types of adhesives are water-based adhesives, solvent-based adhesives, hot-melt-based adhesives, reactive and other types of adhesives. Water-based adhesives are formulated with natural and synthetic polymers that will readily dissolve in water. They harden by evaporating water or by absorption of water into the porous substrate. The product types are acrylic, PVA, polyurethanes, styrenic block, epoxy, Eva, and other product types. The various applications involved are packaging, construction, laminates, woodstock and furnishing, automobile, footwear, and other applications. The global adhesives market size is expected to grow from $69.74 billion in 2021 to $76.77 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global adhesives market size is expected to grow to $109.28 billion in 2026 at a CAGR of 9.2%. During the historic period, technological development was a key driver of the global economy. Industries such as the adhesives industry which involve technology benefited from this trend. Technologies such as hot melts, reactive acrylics, and UV systems became popular because of their safety and energy efficiency. Adhesives also replaced mechanical fastening systems due to better performance and overall lower costs. These factors drove the adhesives market during the historic period. Rising geopolitical tensions had a negative impact on the adhesives market during the historic period. Repercussions of geopolitical tensions included sanctions on Russia, trade protectionism, and heightened military tensions in Middle East. Many countries placed trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed tariffs on $550 billion worth of Chinese goods including chemicals and plastics as of January 2020. Continued violence and terrorism in Middle East and other parts globally are also expected to have a negative impact on the market. Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. The data obtained is processed, analyzed, 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 of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. Major companies in the adhesives market include Henkel AG & Co KGaA, Sika AG, 3M Company, Arkema SA, H.B. Fuller, MAPEI, DuPont Inc, Beiersdorf AG, Sekisui Chemical Co Ltd, and RPM International Inc. Asia Pacific was the largest region in the adhesives market in 2021. North America was the second-largest region in the global adhesives market market. The regions covered in the global adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the adhesives market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global adhesives market is segmented - 1) By Type: Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive & Other Adhesives 2) By Product Type: Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy, EVA, Other Product Types 3) By Application: Packaging, Construction, Laminates, Woodstock and Furnishing, Automobile, Footwear, Other Applications