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Adhesives Market Recent Trends, Growth, Demand, Top Companies, Opportunities And Industry Forecast By 2032
Adhesives Market
The Business Research Company's Adhesives Global Market Report 2023 identifies technological development as the major driver for the Adhesives market's growth in the forecast period. Industries such as the adhesives industry, which involve technology, benefited from this trend. Technologies such as hot melts, reactive acrylics, and UV systems have become popular because of their safety and energy efficiency. Adhesives also replaced mechanical fastening systems due to better performance and overall lower costs
The global adhesives market grew from $77.15 billion in 2022 to $83.99 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The adhesives market is expected to grow to $116.33 billion in 2027 at a CAGR of 8.5%.
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Major competitors in the Adhesives market are Henkel AG & Co KGaA, Sika AG, 3M Company, Arkema SA, H.B. Fuller, MAPEI, DuPont Inc., Beiersdorf AG, Sekisui Chemical Co Ltd., and RPM International Inc.
A key trend in the Adhesives market includes adopting IoT (Internet of Things) technologies. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns
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The Adhesives market is segmented -
1) By Type: Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive & Other Adhesives
2) By Product Type: Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy, EVA, Other Product Types
3) By Application: Packaging, Construction, Laminates, Woodstock and Furnishing, Automobile, Footwear, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Adhesives market.
The Business Research Company's "Global Adhesives Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Adhesives Market Include:
1. Executive Summary
2. Report Structure
3. Adhesives Market Characteristics
4. Adhesives Market Product Analysis
5. Adhesives Market Supply Chain
.......
21. Key Mergers And Acquisitions In The Adhesives Market
22. Market Background: Chemicals By End Use Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
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