Solvent Based Adhesives Market is Forecasted to Reach US$ 9.8 Billion in 2030, Says Stratview Research

The global solvent based adhesives market is projected to witness a growth rate 2.2% annually from 2024 to 2030 with an anticipated size of US$ 9.8 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global solvent based adhesives market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2030: US$ 9.8 billion
Growth (CAGR): 2.2% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Solvent Based Adhesives Market:

The global solvent based adhesives market is segmented based on chemistry type, end-use industry type, and region.

Based on chemistry type - The solvent based adhesives market is segmented into polyurethane, acrylic, polyamide, vinyl acetate, chloroprene rubber, synthesized rubber, natural Rubber, PVC copolymers, nitrile rubber, and Others. Polyurethane is expected to remain the dominant chemistry in the market during the forecast period. Polyurethane is likely to be the fastest-growing chemistry in the solvent-based adhesives market during the forecast period due to the following reasons: tint-ability, adhesion, and abrasion resistance are good. In the automotive industry, large consumptions of polyurethane adhesives are noted in vehicle manufacturing, auto glass repair, and sealing metal structures. Such adhesives couple vibrating components of HVAC systems in order to reduce vibration and seal metal sheet joins.

Based on end-use industry type - The solvent based adhesives market is segmented into paper & packaging, medical, automotive, building & construction, woodworking, aerospace, leather & footwear, and others. Paper & Packaging is expected to remain the largest end-use industry for the solvent based adhesives market during the forecast period. In the year 2023, dominance was observed in the paper and packaging segment of the solvent-based adhesives market, as it was driven by huge growth in developing countries through the process of urbanization and the expansion of e-commerce activities. Acceleration in trends of eco-friendly package development is seen with global economic growth and demographic changes that boost consumer spending on packaged goods. Furthermore, it is expected that the growth in the packaging industry will be propelled by the increasing demand for packaged goods that will result from growing incomes.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3934/solvent-based-adhesives-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for solvent-based adhesives during the forecast period. This growth outlook is majorly attributed to the following-

• APAC is projected to be the largest solvent-based adhesives market during the forecast period, driven by increasing domestic demand, rising income levels, and easy access to resources.
• The automotive industry is a major consumer of solvent-based adhesives in the region, contributing significantly to market growth.
• Economic growth in emerging markets such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam is leading to a surge in infrastructure projects, which boosts demand for solvent-based adhesives in the building and construction industry.
• The COVID-19 pandemic, which began in China and spread rapidly across other Asian countries, caused lockdowns and a temporary decline in traffic, construction, mining activities, and manufacturing industries.
• Despite the pandemic's impact, APAC's role as a global manufacturing hub and its robust economic fundamentals are expected to ensure it remains the largest market for solvent-based adhesives during the forecast period.

Solvent Based Adhesives Market Drivers:

Some of the key drivers listed in the report are given below.

• This pandemic has significantly boosted the demand for healthcare and medical devices sectors and, as a result, also increased the consumption of solvent-based adhesives for medical devices like ventilators, pulse oximeters, oxygen concentrators, and syringe pumps.
• Along with the aging world population, life expectancy is increasing, which in turn creates more demand for medical devices and boosts the demand for the application of adhesive-based products.
• Improving economies in developing nations coupled with rapid economic growth, increasing medical awareness, and aging populations are the factors that predict higher use of solvent-based adhesives within healthcare products and services.
• Due to an increase in expenditure towards healthcare globally, there has been a subsequent rise in the sale of medical devices. This growth of medical device companies mostly based in the US boosts product demand for solvent-based adhesives.
• Here, support for the growth of the solvent-based adhesives market through the increase in demand by the medical industry is visible in the growing health expenditure across all regions except Sub-Saharan Africa and South Asia during the last two decades, according to the World Bank.

Top Companies in the Solvent Based Adhesives Market:

Stratview Research has identified the following companies as the top market players.
• Henkel AG (Germany)
• H.B. Fuller (US)
• Sika AG (Switzerland)
• Arkema (France)
• 3M Company (US)
• Huntsman Corporation (US)
• Illinois Tool Works Inc. (US)

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Solvent Based Adhesives Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Medical Adhesives Market: https://stratviewresearch.com/1176/medical-adhesives-market.html
• Automotive Adhesives Market: https://stratviewresearch.com/887/automotive-adhesives-market.html

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