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Solvent-Based Adhesives Market Thrives with Anticipated Growth to $15.04 Billion in 2024
Solvent-Based Adhesives Market
The solvent-based adhesives market has displayed robust growth, escalating from $14.24 billion in 2023 to a projected $15.04 billion in 2024, reflecting a noteworthy compound annual growth rate (CAGR) of 5.6%. This positive trajectory is poised to persist, with the market forecasted to reach $18.47 billion in 2028, sustaining a CAGR of 5.3%.
Solvent-Based Adhesives Market Driven By Demand For Lightweight Automobiles:
The solvent-based adhesives market is set to capitalize on the growth in the automobile manufacturing industry. The increasing emphasis on producing lightweight automobiles has led to a surge in the demand for adhesives and sealants. These versatile components replace welded joints, mechanical fasteners, and gaskets, effectively reducing the overall weight of automobiles. This shift towards lightweight automotive solutions is expected to drive the demand for solvent-based adhesives in the coming years.
Rising Construction Industry Set To Drive Growth In The Solvent Based Adhesives Market:
The expanding construction industry is anticipated to fuel the growth of the solvent-based adhesives market. Solvent-based adhesives play a crucial role in construction applications, offering robust and durable bonds, high initial tack, as well as resistance to temperature, water, and chemicals. The global construction output is projected to witness a significant increase of 42%, reaching USD 15.2 trillion by 2030, according to Oxford Economics. This surge in construction activities is a key driver for the growth of the solvent-based adhesives market.
Explore the Global Solvent-Based Adhesives Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2656&type=smp
Key Players in the Solvent-Based Adhesives Market:
Major companies contributing to the thriving solvent-based adhesives market include 3M Company, Alfa International Corporation, Arkema Group, Ashland Inc., Avery Dennison Corporation, Everad Adhesives SAS, DuPont de Nemours Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Jowat AG, LORD Corporation, Sika AG, Bostik, RPM International Inc., KCC Corporation, Illinois Tool Works Inc., MAPEI SpA, Akzo Nobel NV, Permabond LLC, Franklin International Inc., COIM Group, Royal Adhesives & Sealants LLC, Reynolds Industries Inc., Cattie Adhesives Solutions LLC, AJ Adhesives Inc., Adhesives Research Inc., L.D. Davis Industries Inc., Mars Supply, Ashland Global Holdings Inc., Beardow Adams Group, Chemence Inc.
Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers:
Major players in the solvent-based adhesives market are channeling efforts into innovative products such as the pearl bond adhesive, aiming to boost market revenues. The pearl bond adhesive, a range of crystalline thermoplastic polyurethane (TPU) adhesives, finds application in the manufacturing of reactive hot melt adhesives (HMAs) and hot melt adhesives (HMAs). Notably, Pearl Polyurethane Systems LLC introduced the pearl bond adhesive in April 2023, offering a durable and cost-effective solution for applications in footwear uppers, vehicle interior trim, and other textile substrates.
Regional Dominance and Market Segmentation:
Asia-Pacific emerged as the largest region in the solvent-based adhesives market in 2023, with North America securing the second-largest position. The comprehensive market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The solvent-based adhesives market covered in this report is segmented -
1) By Type: PolyurethanePU, Styrenic Block, Ethyl Vinly AcetateEVA
2) By End User Industry: Paper and Packaging, Building and Construction, Woodworking, Automotive and Transportation, Other End Use Industries
3) By Distribution Channel: Direct Sales, Distributor
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/solventbased-adhesives-global-market-report
Solvent-Based Adhesives Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Solvent-Based Adhesives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on solvent-based adhesives market size, solvent-based adhesives market drivers and trends, solvent-based adhesives market major players, competitors' revenues, market positioning, and market growth across geographies. The solvent-based adhesives market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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