Global Adhesives Market is expected to reach USD 53,503.0 million by 2022 supported by a CAGR of 4.5% during the forecast period of 2017 to 2022, according to a recent publication by Meticulous Research®. This market is primarily driven by growing demand for consumer goods with rising urbanization & improving lifestyle; rising demand for hot melts adhesives; and growing automotive industry with increasing demand for lightweight and low carbon emitted vehicles. Further, rising demand from emerging economies and growing need for eco-friendly, low VOC, & green sustainable adhesives offers significant opportunities for the growth of adhesives market during the forecast period.
The global adhesives market is mainly segmented by type into non-reactive adhesives (water based adhesives, solvent based adhesives, pressure sensitive adhesives, and hot melt adhesives), reactive adhesives (multi-part adhesives and one-party adhesives). The one part adhesives market is further segmented into heat curing adhesives, moisture curing adhesives, and UV curing adhesives. The market is also analyzed by application (packaging industry, construction industry, automotive industry, electronics & electrical industry, furniture & laminates industry, leather & footwear industry, consumer/do-it-yourself, medical industry and others), and by origin [natural and synthetic (acrylics, polyvinyl acetate, vinyl acetate-ethylene, polyurethane, ethylene-vinyl acetate, polyethylene, and others)
On the basis of type, non-reactive adhesives segment dominated the overall adhesives market and is also expected to grow at a faster CAGR during the forecast period, owing to the rising adoption of water-based adhesives and hot melt adhesives due to their lower VOCs and their wider application in many industries including packaging, construction, automotive, electronics & electrical, leather & footwear, and medical industries.
Based on the geography, global adhesives market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific region holds the major share in global adhesives market, owing to the huge demand for adhesives in industrial manufacturing in the region. In addition, rising industrialization; infrastructural developments, and rising private & government investments in these sectors; rising demand for various consumer goods from large population base; growing income level; and rising urbanization are the other key factors propelling the growth of the Asia-Pacific adhesives market. Asia-Pacific region is also the fastest-growing regional market in the global adhesives industry.
The key players in the global adhesives market are 3M (U.S.), H.B. Fuller (U.S.), Henkel AG & Co. KGaA (Germany), The Dow Chemical Company (U.S.), and Sika AG (Switzerland), Arkema (France), Huntsman Corporation (U.S.), Avery Dennison (U.S.) Wacker Chemie AG (Germany), Royal Adhesives and Sealants (U.S.), Franklin International, Inc. (U.S.), LORD Corporation (U.S.), and Illinois Tool Works Inc. (U.S.).
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