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Adhesives Market 2024 Size, Share, Industry Analysis, Segments And Forecast To 2033
Adhesives Market Share
Adhesives Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $130.87 billion In 2028 At A CAGR Of 9.0% :
The adhesives market size has grown strongly in recent years. It will grow from $84.6 billion in 2023 to $92.58 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to strong economic growth in the end user markets emerging markets, rapid technology development and growth in residential construction activity.
The adhesives market size is expected to see strong growth in the next few years. It will grow to $130.87 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to demand from the automobile industry, increasing demand for adhesives from the building & construction industry, rapid urbanization, and rising demand from the packaging industry. Major trends in the forecast period include automation and instrumentation solutions, adopting 3d vision systems, invest in rapid curing of adhesives, implement ebeam technology, focus on developing innovative products and consider adopting iot technologies.
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Adhesives Market Major Segments
The adhesives market covered in this report is segmented -
1) By Adhesive Type: Structural, Tapes And Films, Threadlocks And Retainers, Liquid Gaskets, Automotive Adhesives
2) By Vehicle Type: Passenger Cars, LCVs, Trucks, Buses, Aftermarket
3) By Resin Type: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, Other Resin Types
4) By Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery
Key Driver - Technological Advancements Boosting The Adhesives Industry
During this historic period, technological development was a key driver of the global economy. 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. These factors drove the adhesives market during the historic period.
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Prominent Trend - IOT Integration Revolutionizes Adhesive Manufacturing For Improved Efficiency And Quality
Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. 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. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller.
Adhesives Market Players
Major companies operating in the adhesives market report are Henkel & Co. KGaA, 3M Company, Arkema, Sika AG, H.B. Fuller, Illinois Tool Works Inc, PPG Industries, Dow Inc., Avery Dennison, Huntsman, Benson Polymers Limited, Acme Corp, Chadha Corporation Pvt. Ltd, Adfast Polymers, Proten Exim Private Limited, Hunan Magpow Adhesive Group Co., Ltd, Wuhan Boli Chemical Ltd, Zibo Chico International Co., Ltd, Tengxin Chuzhou New Material Co., Ltd, Megabond (Huangshan) Adhesive Co., Ltd, Shanghai Hansi Industrial Co., Ltd, Beijing Comens New Materials Co., Ltd, Japan Sika Corporation, Afinitica, ITAC Adhesives, Bostik UK, Antala Ltd, tesa SE, NPT SRL, Permabond, Grupa Azoty Zakłady Chemiczne Police S.A, MD Poland, RUSTA LLC, Russian Coatings JSC, LIKK, Alloy Products, Amazing Goop, AssureCure, Bondmaster, Camie, Chem-Calk, Chemseal, Chipbonder, ConProTec, Conap, Conapoxy, Cytec, Devcon, Double/Bubble, Dymax, Dynaloy, E-Max, Eccobond, Eclectic, EconoDot, Elastoplastic, Ellsworth, Emerson & Cuming, Epoxi-Patch, FISHMAN, Oasn Me Ltd, Amazonas Industria E Comercio Ltd, Hotmelt Adhesives, Fixa Tudo, Jowat SE
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the adhesives market in 2023. North America was the second-largest region in The adhesives market. The regions covered in the adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Adhesives Market Report Structure
3. Adhesives Market Trends And Strategies
4. Adhesives Market - Macro Economic Scenario
5. Adhesives Market Size And Growth
…..
27. Adhesives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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