Global Adhesives Market- Applications, Share Analysis, Revenue, Demand and Opportunities to 2030

Adhesives Market: Introduction

The global adhesives market was valued at ~US$ 52 Bn in 2019 and is anticipated to expand at a CAGR of ~5% during the forecast period. The global adhesives market is primarily driven by growth of automotive and building & construction industries and rise in the need to improve quality of construction. Developing as well as developed economies across the globe are carrying out infrastructure development activities to sustain economic growth. These civil construction projects boost the consumption of adhesives.

Key Drivers of Adhesives Market

Increase in the need to achieve fuel efficiency and implementation of stringent emission regulations are expected to support the trend of production of automotive components by using lightweight materials in the next few years. Earlier, mechanical fasteners were used in automotive components; however, of late, they have been replaced by adhesive tapes. Adhesives possess comparable strength, durability, and lightweight. The use of lightweight materials reduces the overall weight of a vehicle. It also improves fuel efficiency of the vehicle.

Request PDF brochure

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=39953

Adhesives are extensively employed in various automotive applications such as wire harnessing, electric insulation, automotive body repairs, masking, and surface protection. Increase in the usage of adhesive tapes in automotive interior parts in order to provide better resistance and excellent adhesion ability is likely to propel the global adhesives market during the forecast period. Strong government support and ad-hoc tax incentives in China have led to double-digit sales, typically in the electric vehicles industry in the country. Rise in the demand for small, battery-based, and efficient passenger vehicles in countries such as Thailand, Malaysia, and Indonesia is anticipated to propel the automobile sector in Asia Pacific during the forecast period.

The rise in investments in the automotive sector, mainly in Middle East & Africa, is expected to be a key factor driving the adhesives market in the region from 2020 to 2030. Countries such as Morocco, Egypt, and Iran are leading motor vehicle manufacturers in the region, while major sales markets in the region include Iran, Saudi Arabia, Turkey, and the UAE. Increase in the demand for adhesives in the automotive sector in the region is augmenting the adhesives market in Middle East & Africa.

More Trending Reports

https://www.prnewswire.com/news-releases/growing-application-in-eye-disease-treatment-and-dietary-supplements-to-lay-a-red-carpet-of-growth-across-the-zeaxanthin-market-during-the-tenure-of-2020-2030-tmr-301264054.html

Water-based Technology to Offer Attractive Opportunities to Global Adhesives Market

The water-based technology segment accounted for a major share of the global adhesives market in 2019. The segment is estimated to expand rapidly during the forecast period, due to eco-friendly nature of water-based adhesives. Water-based is a highly attractive segment, as water-based adhesives are not harmful to the environment. Furthermore, water-based adhesives require low capital investments and a simple technology that can be easily formulated. The solvent-based segment held a minimal share of the global adhesives market in 2019. Solvent-based adhesives include petrochemical products with a higher rate of VOC emissions as compared to water-based adhesives. The growth of the solvent-based segment is estimated to be sluggish during the forecast period, due to stringent regulations imposed on VOC emissions across the globe. The segment is estimated to lose market share by the end of the forecast period.

Buy Now

https://www.transparencymarketresearch.com/checkout.php?rep_id=39953&ltype=S

Environmental Regulations on VOC Emissions to Hamper Adhesives Market

VOC (volatile organic compound) emissions that take place during the use of adhesives pose a threat to the environment. Several countries have set guidelines restricting the amount of VOCs emitted during the usage of adhesives in industries, especially solvent-based adhesives. Manufacturing operations are bound by government regulations and rules with respect to evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. These environmental regulations restrain the demand for adhesives in packaging and printing industries, as the violation of these regulations can attract heavy penalties and losses. Most market players are shifting from solvent-based adhesives toward water-based adhesives.

Rapid industrialization and urbanization has increased air pollution, which has affected the health of people across the globe. Several developing as well as developed countries are facing pressure from domestic and international regulatory bodies to formulate regulations for VOC control in order to reduce pollution. Air pollutants such as volatile organic compounds (VOCs), particulate matter (PM), carbon monoxide (CO), oxides of nitrogen (NOx), and sulfur dioxide (SO2) cause serious health hazards to agriculture and the climate worldwide.

Request Discount

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=39953

Emission standards have been fixed to facilitate effective control of air pollution. In India, these standard permissible limits are formulated by the Central Pollution Control Board, Ministry of Environment & Forests, Bureau of Indian Standards (BIS), World Health Organization (WHO), and National Emissions Inventory (NEI). The NEI is a composite of data collected from various sources, including industrial sector, EPA models, and numerous state and local agencies engaged in air quality management.

Asia Pacific Dominates Global Adhesives Market

Asia Pacific constituted a prominent share of the global adhesives market in 2019, due to rapid industrialization and increase in the demand for adhesives from construction and furniture industries in the region. For instance, in 2017, China, South Korea, and Japan produced nearly 37 million units of lightweight vehicles. Japan constitutes a key share of the adhesives market in Asia Pacific. The market in the country is likely to expand at a significant pace in the near future. The automotive industry in Japan expanded at a rate of 3.3% in 2017.

The demand for adhesives in India and China is on the rise, owing to significant growth of infrastructure and construction sectors in these countries. India is planning to spend significantly on the development of infrastructure. Countries across the globe are showing significant interest in investing in India, with a special focus on sectors such as renewable energy, construction, and automotive.

Several global companies are expanding their operations in India by entering into joint venture agreements with local manufacturers or by setting up their subsidiaries in the country. Recently i.e. on February 4, 2024, Henkel AG & Co. KGaA opened a new state-of-the-art manufacturing facility in Kurkumbh, Pune (India). The facility is spread over an area of 100,000 square meters, with a built-up area of 51,000 square meters. Opening of the new facility has increased the company’s capabilities to serve customers across various sectors including flexible packaging, automotive, agriculture & construction equipment, general industry, and metals.

Top Five Players Account for Major Share of Adhesives Market

The global adhesives market is highly fragmented, as a large number of small players operate in the market. Currently, the market is expanding at a steady pace. Key players are largely focusing on research and development activities. The top eight players— Henkel AG & Co. KGaA, Sika AG, H.B. Fuller Company, Bostik, Huntsman International LLC, 3M, DuPont de Nemours, Inc., and Illinois Tool Works Inc.— cumulatively accounted for more than 40% share of the global market in 2019.

Henkel AG & Co. KGaA constituted a leading share of the global adhesives market in 2019. The company offers more than 100 types of adhesive products. Its offices and manufacturing sites are located in almost every major city across the globe. The company invests in expanding its product portfolio in order to maintain its market leading position.

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Transparency Market Research,

90 Sate Street, Suite 700,

Albany, NY 12207

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: https://www.transparencymarketresearch.com/