The Global Adhesives Market to Reap $56.94 Billion by 2028

According to Triton’s report, the global adhesives market garnered $31.97 billion in 2020, and is set to showcase 5.71% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Adhesives Market,’ covers the Global Analysis and Forecasts by Application (Pressure Sensitive, Packaging, Construction, Furniture, Footwear, Automotive, Other Applications), by Product Type (Acrylic, Polyvinyl Acetate, Polyurethane, Styrenic Block, Epoxy, Ethylene Vinyl Acetate, Other Product Types), by Technology (Water-based, Solvent-based, Hot Melt, Reactive & Others), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

Request Free Sample of the Global Adhesives Market Report @ https://www.tritonmarketresearch.com/reports/adhesives-market#request-free-sample

Triton’s report predicts the global adhesives market to chart a CAGR of 5.71% over the forecast period 2021-2028, and generate a revenue of $56.94 billion by the year 2028. It is also expected to depict growth with a CAGR of 4.60%, thereby amounting to 16670.62 kilotons in volume by the same time.

An adhesive is a compound that adheres or bonds two (or more) substrates together. This material has high strength, and is, therefore, used in the construction and automotive industries on a large scale.

Factors such as the growing demand for adhesives from the construction industry are significantly driving the demand for these materials. Also, they have found numerous applications in the packaging industry for various purposes. The growing adoption by several end-user industries is fueling the growth of the adhesives market in the coming years. On the flip side, the uncertainty in the prices of raw materials and the stringent rules & regulations are obstructing this growth process.

The market for adhesives is mainly categorized into application, product type, and technology. Based on application, it is divided into pressure sensitive, packaging, construction, furniture, footwear, automotive, and other applications. Whereas, based on product type, it is classified into acrylic, polyvinyl acetate, polyurethane, styrenic block, epoxy, ethylene vinyl acetate, and other product types. And considering technology, the market is categorized into water-based, solvent-based, hot melt, and reactive & others.

The market in the Asia-Pacific is expected to grow the fastest globally in the forecasted phase. Growth in the demand for automotive adhesives has been observed in the past decade, due to the high demand for developing fuel-efficient vehicles with lower emission and light weight. Besides, there has also been a substantial demand for adhesives from industries that manufacture aircraft, where they are used as a substitute to nuts and bolts in order to reduce the overall vehicle weight. Apart from that, the support from the government for infrastructural development is also augmenting the demand for adhesives. All the above-stated factors are aiding the growth of the studied market in the APAC region.

Momentive Performance Materials Inc (MPM), Arkema SA, Avery Dennison Corporation, Henkel AG & Co KGaA, RPM International Inc, Uniseal Inc, Eastman Chemical Company, BASF SE, Sika AG, 3M Company, HB Fuller Company, Huntsman Corporation, Beardow & Adams (Adhesives) Limited, Dow Chemical Company, Ashland Global Specialty Chemicals Inc, and Hexcel Corporation are the established players in this market.

Purchase this Report @ https://www.tritonmarketresearch.com/reports/adhesives-market#purchase-option

Question & Answer: Adhesives Market

Question 1: What factor is fueling the growth of the adhesives market in the coming years?

Answer: Factors such as the growing demand for adhesives from the construction industry are significantly driving the demand for these materials. Also, they have found numerous applications in the packaging industry for various purposes. The growing adoption by several end-user industries is fueling the growth of the adhesives market in the coming years.

Question 2: What factors are obstructing the adhesives market’s growth process?

Answer: The uncertainty in the prices of raw materials and the stringent rules & regulations are obstructing this growth process.

Question 3: Which region is expected to grow the fastest in the adhesives market?
Answer: The market in the Asia-Pacific is expected to grow the fastest globally in the forecasted phase. Growth in the demand for automotive adhesives has been observed in the past decade, due to the high demand for developing fuel-efficient vehicles with lower emission and light weight. Besides, there has also been a substantial demand for adhesives from industries that manufacture aircraft, where they are used as a substitute for nuts and bolts in order to reduce the overall vehicle weight. Apart from that, the support from the government for infrastructural development is also augmenting the demand for adhesives. All the above-stated factors are aiding the growth of the studied market in the APAC region.

Question 4: Which are the established players in the adhesives market?

Answer: Momentive Performance Materials Inc (MPM), Arkema SA, Avery Dennison Corporation, Henkel AG & Co KGaA, RPM International Inc, Uniseal Inc, Eastman Chemical Company, BASF SE, Sika AG, 3M Company, HB Fuller Company, Huntsman Corporation, Beardow & Adams (Adhesives) Limited, Dow Chemical Company, Ashland Global Specialty Chemicals Inc, and Hexcel Corporation are the established players in this market.

Related Report:

Global Paints & Coatings Market

The global paints & coatings market is set to exhibit growth in the forecasting years from 2019 to 2027. It will grow at a CAGR of 5.34% in terms of revenue, generating $229.71 billion by 2027. Also, it will showcase a CAGR of 4.30% in terms of volume, garnering 70970.22 kilotons by the same time.

In the aerospace industry, paints & coatings are used on a wide scale for numerous applications, including defense and commercial aviation. In a single aircraft, paints and coatings are used for purposes like interior paints & coatings systems, exterior topcoats, wing paints & coatings, anti-chafe paints & coatings, etc. They are also used to safeguard the exterior parts from high temperature, corrosion, and acid rain. Thus, the growing applications in the aerospace sector are anticipated to support the studied market growth.

On the other hand, the defense sector across the globe is expected to showcase immense growth in the coming few years. This is because governments in countries like the United States, China, India, Japan, the United Kingdom, France, are expected to substantially raise their defense budgets. With the growing threats to their national security, governments all over the world are equipping their armed forces with modern weapons and next-generation technologies. This is expected to aid in improving security and propel the demand for paints and coatings, in turn boosting the market growth.

Triton Market Research
196, wards wharf approach
London E16 2EQ
Phone: +44 7441 911839
Email: sales@tritonmarketresearch.com
Website: https://www.tritonmarketresearch.com/

We are a leading market research company with offices in the UK, providing the best online market research and data search reports to our clients.

This release was published on openPR.