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Industrial Adhesives Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies
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Industrial adhesives are a type of adhesive that is specially formulated for use in industrial settings. These adhesives are designed to be stronger and more durable than traditional adhesives, and they are often used in applications where traditional adhesives would not be able to hold up. Industrial adhesives are available in a variety of formulations, and they can be used for a variety of applications. Some of the most common applications for industrial adhesives include bonding metal, plastic, and glass.
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Market Segments
The Industrial Adhesives Market is segmented by composition, type, end-use industry, and region. By composition, the market is divided into polyurethane, epoxy, vinyl, and others. On the basis of type, the industrial adhesives market is classified into water-based adhesives, solvent-based adhesives, hot-melt adhesives, and others. On the basis of end-use industry, the market is categorized into packaging industry, construction industry, automotive industry, electrical & electronics, and others. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Industrial Adhesives Market includes players such as 3M Company, ARKEMA S.A., Avery Dennison Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Parker Hannifin Corp., Jowat SE, Wacker Chemie AG, Delo and Solvay.
The major drivers for this market are the growing demand for adhesives from the construction and automotive industries, and the increasing use of adhesives in the electronics industry.
The construction industry is the largest consumer of adhesives, accounting for over 35% of the total adhesive consumption. The booming construction industry in Asia-Pacific, Latin America, and the Middle East is expected to drive the demand for adhesives in the region. The increasing production of vehicles, particularly in Asia-Pacific and Latin America, is anticipated to drive the demand for adhesives in the automotive industry.
The rising demand for adhesives from the electronics industry is attributed to the increasing use of adhesives in the assembly of electronic components and in the packaging of electronic products.
The Asia-Pacific region is the largest market for industrial adhesives, accounting for over 40% of the global market. The booming construction and automotive industries in the region are expected to drive the demand for adhesives.
The North American and European regions are the second and third largest markets for industrial adhesives, respectively. The demand for adhesives in these regions is driven by the booming construction and automotive industries.
Key Drivers
The key drivers of the Industrial Adhesives market are the increasing demand from the automotive and construction industries, and the growing popularity of eco-friendly and water-based adhesives. The automotive industry is the largest consumer of industrial adhesives, accounting for more than 35% of the total demand. The construction industry is the second largest consumer, accounting for about 20% of the total demand. The growing popularity of eco-friendly and water-based adhesives is also driving the market growth.
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Market Segments
The Industrial Adhesives Market is segmented by composition, type, end-use industry, and region. By composition, the market is divided into polyurethane, epoxy, vinyl, and others. On the basis of type, the industrial adhesives market is classified into water-based adhesives, solvent-based adhesives, hot-melt adhesives, and others. On the basis of end-use industry, the market is categorized into packaging industry, construction industry, automotive industry, electrical & electronics, and others. Region-wise, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Industrial Adhesives Market includes players such as 3M Company, ARKEMA S.A., Avery Dennison Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Parker Hannifin Corp., Jowat SE, Wacker Chemie AG, Delo and Solvay.
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