Application of adhesives as viable substitutes for flanges, panels, and other fastener settings support growth in the long-term. Expanding at a CAGR of 4.5% the global sales of Industrial Adhesives is expected to increase from a valuation of US$ 52,862.0 Mn in 2021 to US$ 78 Bn by the end of 2030. The report by Future Market Insights gives in-depth insights on the sector in terms of revenue and sales projections for the duration between 2022 and 2030.
Manufacturing and industrial facilities from numerous verticals require specialized adhesives for production and product quality. As a result, the demand for industrial adhesives has risen steadily in years past. However, the coronavirus pandemic has had a substantial impact on industrial activity on a global scale, generating a slight decline in demand during 2020.
A key factor driving global demand for industrial adhesive products is the growing scope of applications in the packaging, electronics, and automotive sectors, along with investments into product development for greater functionality, bolstering overall adoption rates.
In addition to these players, some other prominent industrial adhesive manufacturers include:
- 3M
- Sika AG
- Dow Inc.
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- Arkema S.A.
- Huntsman Corporation
- Teraoka Seisakusho co., Ltd.
- Pidilite Industries Limited
- FORBO Holding
- Covestro AG
- Organik Kimya
- Panacol-Elosol GmbH
- Cargill Incorporated
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Industrial Adhesives Market – Competitive Landscape
Industrial adhesive manufacturers around the world are employing a multi-pronged strategy including product development, collaborations towards bolstering distribution networks, and capacity and geographic expansion endeavors.
The coronavirus is expected to create short term hurdles for industrial adhesives. However, the overall prospects of the sector are positive through 2030, even as some businesses are pushed towards operational and workforce cuts during this period.
Industrial Adhesives Market By Category
By Product Type:
- Acrylic Adhesives
- PVA Adhesives
- PUR Adhesives
- EVA Adhesives
- Epoxy Based Adhesives
- Others
By Technology:
- UV CURE Adhesives
- Pressure Sensitive Adhesives
- Industrial Adhesives
- Plastic Adhesives
- Hot Melt Adhesives
- Others
By End Use:
- Automotive & Aerospace
- Healthcare
- Consumer Goods
- Packaging
- Construction
- Electronics
- Furniture & Metalwork
- Glass Making
- Footwear
Sustainability Trends Aid Market Prospects
According to The Adhesive and Sealant Council, the automotive industry alone makes use of up to 40 kg of industrial adhesives for every vehicle. Consequently, the residue, and improper application techniques pose environmental and health risks.
With efforts in keeping up with the requirements of the modern consumers industrial adhesive manufacturers are seeking methods to minimize the environmental impact of their product offerings. Investments into research and development to develop alternatives to conventional chemical industry adhesives market are important.
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