The adhesives market is projected to grow at a CAGR of 4.28% during the forecast period to reach US$62.370 billion by 2024 from US$48.502 billion in 2018. Adhesives are versatile products that have various applications in different industrial sectors such as automotive, construction and packaging. Increasing demand for high-performance adhesives to join dissimilar materials is a key driving factor boosting the adhesives market growth over the forecast period. With the emergence of the chemical industry and synthetic polymers, a range of adhesive formulations is being utilized by the industries as they are used with composites and plastics for bonding. Burgeoning growth in the industrial sector of the developing economies is also fueling the demand for adhesives. Geographically, Asia Pacific holds a significant share in the adhesives market owing to the increasing construction and building activities in the region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the adhesives value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Some of the major players discussed in this report are H.B. Fuller, Henkel AG, Sika, Bostik, 3M, Ashland, DAP Products Inc., Royal Adhesives and Sealants, Franklin International, Avery Dennison Corporation, BASF, Dow Chemical Company and Eastman Chemical Company.
Adhesives market has been segmented on the basis of technology, products, application and geography as follows: