What are the Major Demand Boosters in the Global Industrial Adhesive Market?
According to the latest Arizton's market research report, the global industrial adhesive market size to cross USD 68 billion by 2025, growing at a CAGR of 4.5% during the forecast period.
Global Industrial Adhesive Market Growth
The growth of solvent adhesives is high due to the rise in demand from the automotive and footwear industries. The growth of the construction and furniture sectors in North America also contributes to the demand for hot-melt adhesives. The awareness of the green economy is likely to create more opportunities for water-based industrial adhesives. Acrylic adhesives are expected to experience high demand across industries. Thus, their cost-effectiveness and high growth in end-user industries in APAC are expected to offset the challenges. The global industrial adhesive market is expected to witness high growth across regions and is currently the leading labeling technology, closely followed by glue-applied labels.
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Consistent Demand in Packaging Industry
Packaging is a critical phase for every organization to pack their products after manufacturing. As it involves choosing of right material to package and adhesives that will best fit in products and the packaging material. Most manufacturers use packaging as a marketing tool and adhesives are the key ingredients for packaging products. Attractive and innovative packaging increases customer affluence about the product and packaging with the right material and adhesive enhances convenience, appearance, and dependability. Increasing demand for packaging adhesives in the food and beverage industry, due to surging demand and consumption of packaged food and beverages every year is a major factor driving the growth of the global industrial adhesive market.
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Key Offerings:
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by technology, products, end-users, and geography
- Competitive Landscape – 4 Key Company Profiles and 13 Other Prominent Vendors
Global Industrial Adhesive Market – Geographic Analysis
The electronics industry in APAC is one of the largest and fast-growing sectors in the world. The growth in demand for electronic equipment in various forms and the high availability of skilled labor have boosted industrial adhesive manufacturing. The increase in the use of industrial adhesives in the automotive, construction, and medical end-use industries is expected to provide new growth opportunities in the region. The low-cost labor and favorable government regulations, most automotive companies have set up their production facilities in APAC countries is fueling the demand for global industrial adhesive market.
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Competition Overview
The global industrial adhesives market is highly competitive with the presence of both global and local players. The market is characterized by vendors that are catering to multiple end-users. To maintain a competitive edge, global players are mostly focusing developing innovative products and increasing their product portfolio by making huge investment in R&D. In the global industrial adhesive market, the players are competing on various factors such as brand, geographical presence, product portfolio, product features, and efficiency. The global companies are coming up with new strategies and dual-brand strategies in some region to capture higher market shares.
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