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The Global Adhesives Market will Amount to $56.94 Billion by 2028

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The Global Adhesives Market will Amount to $56.94 Billion by 2028

January 18
12:40 2021
The Global Adhesives Market will Amount to $56.94 Billion by 2028

Global Adhesives Market
As Triton’s research report, the global adhesives market, which generated $31.97 billion in 2020, is likely to chart 5.71% of CAGR by the year 2028.

A recent study by Triton Market Research titled ‘Global Adhesives Market,’ covers the Global Analysis and Forecasts by Product Type (Polyvinyl Acetate, Acrylic, Styrenic Block, Polyurethane, Ethylene Vinyl Acetate, Epoxy, Other Product Types), by Technology (Hot Melt, Solvent-based, Water-based, Reactive & Others), by Application (Packaging, Pressure Sensitive, Furniture, Construction, Automotive, Footwear, Other Applications), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

Adhesives are obtained from either synthetic or natural resources. Several modern adhesives show properties of high strength. Therefore, they are largely used in the construction and automotive industries.

 

Request Free Sample of the Global Adhesives Market Report @ https://www.tritonmarketresearch.com/reports/adhesives-market#request-free-sample  

 

The report estimates the global adhesives market to showcase a CAGR of 5.71% during the forecast years 2021-2028, generating a revenue worth $56.94 billion by 2028. It is also expected to exhibit a CAGR of 4.60%, amounting to 16670.62 kilotons in volume by 2028.

The demand for adhesives in the packaging industry is on the rise with the large number of end-user applications. The packaging applications for which adhesives are used include specialty packaging, flexible packaging, frozen food packaging, and composite containers. Therefore, the growth in the packaging industry is driving the growth of the studied market.

However, a shortfall in the supply of key raw materials for manufacturing adhesives has been observed at the global level. This volatility in raw material prices is expected to hinder the growth of the adhesives market during the forecast period.

The market for adhesives is segmented into product type, technology, and application. Based on product type, it is divided into polyvinyl acetate, acrylic, styrenic block, polyurethane, ethylene vinyl acetate, epoxy, and other product types. On the basis of technology, the market is segmented into hot melt, solvent-based, water-based, and reactive & others. And with respect to application, it is categorized into packaging, pressure sensitive, furniture, construction, automotive, footwear, and other applications.

The Asia-Pacific is the largest market for adhesives across the globe, holding the highest share. There has been a rise in the demand for adhesives in the region in the last few years. Companies are therefore actively investing in R&D activities to manufacture eco-friendly products that can be used across multiple end-use industries, such as automotive, furniture, and footwear, among others. Thus, the growing demand from these sectors is fueling the growth of the adhesives market in the APAC.

Avery Dennison Corporation, RPM International Inc, Uniseal Inc, Beardow & Adams (Adhesives) Limited, Hexcel Corporation, Ashland Global Specialty Chemicals Inc, BASF SE, Henkel AG & Co KGaA, HB Fuller Company, Arkema SA, Sika AG, Dow Chemical Company, 3M Company, Huntsman Corporation, Eastman Chemical Company, and Momentive Performance Materials Inc (MPM) are the well-known players in the adhesives market.

 

Purchase this Report @ https://www.tritonmarketresearch.com/reports/adhesives-market#purchase-option

 

Question & Answer: Adhesives Market

Question 1: What factor is driving the growth of the studied market?

Answer: The demand for adhesives in the packaging industry is on the rise with the large number of end-user applications. The packaging applications for which adhesives are used include specialty packaging, flexible packaging, frozen food packaging, and composite containers. Therefore, the growth in the packaging industry is driving the growth of the studied market.

Question 2: What factor is expected to hinder the growth of the adhesives market during the forecast period?

Answer: A shortfall in the supply of key raw materials for manufacturing adhesives has been observed at the global level. This volatility in raw material prices is expected to hinder the growth of the adhesives market during the forecast period.

Question 3: Which region is expected to dominate the global adhesives market?

Answer: The Asia-Pacific is the largest market for adhesives across the globe, holding the highest share. There has been a rise in the demand for adhesives in the region in the last few years. Companies are therefore actively investing in R&D activities to manufacture eco-friendly products that can be used across multiple end-use industries, such as automotive, furniture, and footwear, among others. Thus, the growing demand from these sectors is fueling the growth of the adhesives market in the APAC.

Question 4: Which are the well-known players in the adhesives market?

Answer: Avery Dennison Corporation, RPM International Inc, Uniseal Inc, Beardow & Adams (Adhesives) Limited, Hexcel Corporation, Ashland Global Specialty Chemicals Inc, BASF SE, Henkel AG & Co KGaA, HB Fuller Company, Arkema SA, Sika AG, Dow Chemical Company, 3M Company, Huntsman Corporation, Eastman Chemical Company, and Momentive Performance Materials Inc (MPM) are the well-known players in the adhesives market.

 

 

Related Report:

Global Paints & Coatings Market

The global paints & coatings market is set to show revenue growth in the years 2019-2027, generating $229.71 billion by 2027, while charting a CAGR of 5.34%. At the same time, it is expected to garner 70970.22 kilotons in volume, by exhibiting a growth rate of 4.30%.

Automobile manufacturers use paints and coatings on a large scale for purposes like automobile production and automotive refinish, and also at automobile body shops and service centers for refinishing the vehicles. These materials are largely applied on to spare parts, and other interior & exterior vehicle parts. The types of automotive paints and coatings generally used are water-based and polyesters-based epoxy paints and coatings.

With their improved overall financial status, the purchasing power of the consumers in the middle-class income group has increased. This is raising the demand for automobiles in emerging nations. Moreover, low interest rates, as well as the rising population of first-time buyers, is expected to enhance the vehicles’ demand. This will result in the rapid growth of the automotive industry, and, is thereby set to propel the demand for paints and coatings. This growing demand will fuel the growth of the global paints and coatings market.

 

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