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The global adhesives market size was valued at USD 45.6 billion in 2020, which is expected to reach USD 71.2 billion by 2027, registering a CAGR of 4.7% during the forecast period (2021-2027). Adhesives find their applications across various sectors to bind components, such as automotive parts, wood parts, electronic components, and others. Adhesives can bear heavy loads, which in turn, is augmenting its demand in the machinery industry.
The demand for lightweight automotive is increasing the demand for adhesives across the globe. With adhesives, the vehicle gets lighter, quieter, and safer compared to mechanical fastening methods for binding automotive components.
Adhesives are getting huge traction in the packaging industry with the rise of the e-commerce sector across the globe. Flexible packaging will offer considerable growth to the adhesives market in the packaging industry during the forecast period.
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The demand-supply gap and the fluctuations in foreign currency are hampering the growth of the adhesives market across the globe. However, the prices are affected negatively due to the high usage of petrochemicals in adhesive and other specialty chemicals worldwide.
The outbreak of COVID-19 has significantly hampered the growth of the adhesives market across the globe. The demand for adhesives has significantly fallen, backed by the decline in the demand for new products, including renovation of buildings, woodworks, and automobiles. Gradually the supply has also decreased, and the old stock is also getting damaged as the ability of the adhesive to withhold the product decreases with time. Moreover, the lack of availability of raw materials and the disruption in the supply chain due to the imposition of a ban on the transfer of goods over borders is further curtailing the market growth amidst the crisis. Therefore, a modest downfall in the adhesives market can be expected in 2020.
The report outlines the global adhesives market study based on product, technology, and end-user.
The adhesives market has been segmented based on product –
The adhesives market has been segmented based on technology–
The adhesives market has been segmented based on end-user-
The adhesives market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, Europe held the largest share in the global adhesives market, followed by North America and the Asia Pacific. Europe is further estimated to dominate the adhesives market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.
The adhesives market is highly fragmented, with the presence of a large number of small players across the globe. The key adhesives market players operating in the global market include –
The Adhesives market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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