Industrial Adhesives Market - Dominance of the Leading Companies Over the Global Industry
Application of adhesives as viable substitutes for flanges, panels, and other fastener settings support growth in the long-term. Expanding at a CAGR of 4.5% the global sales of Industrial Adhesives is expected to increase from a valuation of US$ 52,862.0 Mn in 2021 to US$ 78 Bn by the end of 2030. The report by Future Market Insights gives in-depth insights on the sector in terms of revenue and sales projections for the duration between 2022 and 2030.
Manufacturing and industrial facilities from numerous verticals require specialized adhesives for production and product quality. As a result, the demand for industrial adhesives has risen steadily in years past. However, the coronavirus pandemic has had a substantial impact on industrial activity on a global scale, generating a slight decline in demand during 2020.
A key factor driving global demand for industrial adhesive products is the growing scope of applications in the packaging, electronics, and automotive sectors, along with investments into product development for greater functionality, bolstering overall adoption rates.
Ani-Microbial Products Gain Traction with Covid-19
The uncertainty over the duration and severity of the coronavirus pandemic has resulted in consumers and end user industries pushing for the development of offerings with anti-microbial offerings. Demand is expected to rise for applications in healthcare device production to minimize the spread of anti-biotic resistant microbes and hospital acquired infections.
Demand in the recent past was relatively lower owing to cost and durability issues. However, health and economic changes have helped in the justification of adopting these materials. Industrial adhesive manufacturers can potentially take up repurposing and rebranding strategies for their offerings. Materials such as liquid metal, biocides, organo-silane nano-coatings, and specialized peptide coatings.
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Industrial Adhesives Market By Category
By Product Type:
Acrylic Adhesives
PVA Adhesives
PUR Adhesives
EVA Adhesives
Epoxy Based Adhesives
Others
By Technology:
UV CURE Adhesives
Pressure Sensitive Adhesives
Industrial Adhesives
Plastic Adhesives
Hot Melt Adhesives
Others
By End Use:
Automotive & Aerospace
Healthcare
Consumer Goods
Packaging
Construction
Electronics
Furniture & Metalwork
Glass Making
Footwear
Industrial Adhesives Market – Competitive Landscape
Industrial adhesive manufacturers around the world are employing a multi-pronged strategy including product development, collaborations towards bolstering distribution networks, and capacity and geographic expansion endeavors.
The coronavirus is expected to create short term hurdles for industrial adhesives. However, the overall prospects of the sector are positive through 2030, even as some businesses are pushed towards operational and workforce cuts during this period.
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