Russia Adhesives Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive, Others), And By Application (Consumer Appliances, Automobiles, General Transportation, Medical, Industrial, Woodworking And Plywood, Textiles, Household. Others) - Forecasts From 2022 To 2027

  • Published : Jan 2023
  • Report Code : KSI061610100
  • Pages : 114

The Russia adhesives market is expected to grow at a compound annual growth rate of 3.93% over the forecast period to reach a market size of US$662.334 million in 2027, from US$505.689 million in 2020. The major factors driving the growth of the market are rapid urbanization, rising construction activities, and increasing demand for adhesives from the packaging industry of Russia. Moreover, the growing demand for e-commerce shopping and online purchasing is providing huge opportunities to the players operating in the country’s adhesive market. Rising internet penetration and growing access to the internet have created lucrative market opportunities for e-commerce and packaging providers to set their foot in untapped markets and gain a majority of shares in the market. Moreover, the growing demand for consumer flexible packaging by various end-user industries in Russia is anticipated to boost the demand for hot-melt adhesives which will further drive the overall market growth.  Russia is considered as world’s ninth-largest e-commerce market and has a lot of potential for growth and is expected to significantly contribute to the overall market growth. Additionally, growing innovations and development of bio-based adhesives and shifting focus toward adhesive bonding for composite materials in the country will further create many opportunities for the key players.

Furthermore, growth in the automotive sector of the country will further boost the overall market growth during the forecast period. Russia is considered as the world’s fastest-growing automotive market and is one of the fast-emerging automotive component markets in Europe. Growth in the country's construction sector will further drive the demand for adhesives. For instance, the government of Russia is planning to construct a new highway along the Black Sea coast between Dzhugba and Sochi. The 130-mile / 210-kilometer, the four-lane route has an estimated cost of $19 billion and will become a key artery for trucks hauling goods from European Russia into its southern regions.

By type, the growing demand for water-based masking tape across the country is supporting the overall market growth.

Growth in the building and construction sector of the country is anticipated to drive the demand for water-based masking tapes. The Russian government has invested 6.3 trillion rubles (US$100.47 billion) in its building and construction sector to initiate a six-year modernization plan to revamp the country's highways, airports, railways, ports and other transportation infrastructure through 2024. By 2030, the government is planning to install 11,000 km of fresh railroad tracks, linking the cities of Moscow, St. Petersburg, Samara, Krasnodar, and Novosibirsk. Large U.S. multinationals like Caterpillar, John Deere, Wirtgen, AECOM, GE, StanleyBlack&Decker, and Wabtec are active in the Russian infrastructure market and are planning to work on large-scale construction projects which will have a positive impact on the overall market growth. Furthermore, rising demand for water-based tapes across the food and beverage industry is also expected to boost market growth in the future. Water-based tapes provide flexibility, better protection, and UV resistance to the products owing to which their demand in the food processing industry across the country is increasing and will continue to rise in the coming years. 

COVID-19 Impact

The COVID-19 pandemic had a negative impact on the Russian adhesive market. The robust outbreak of the virus and its exponential spread resulted in a halt across numerous industries which severely impacted the adhesive market. Construction, Automotive, and consumer electronics, the key end-users of adhesive in the country witnessed a staggering growth. Data from Motor Vehicle Corporation shows that Motor Vehicle production in the country fell to 1.435 million in 2020, compared to 1.719 million produced in 2019.

The eruption of war in the country, further severely impacted the economy. Russia economic growth is projected to contract by around 10% in 2022, and 3% in 2023, owing to the disruption of the war. Showing support to Ukraine, numerous adhesive companies suspended their operations in Russia which rattled the market. 3M, for instance, announced in March 2022 that it will suspend all its operations in the country owing to the ongoing war and unjust of Russian troops over Ukraine. BASF SE and Ashland Global as well announced the suspension of operation in early April 2022.

Segmentation

  • By Type
    • Water-Based
    • Solvent-Based
    • Hot-Melt
    • Reactive
    • Others
  • By Application
    • Consumer Appliances
    • Automobiles
    • General Transportation
    • Medical
    • Industrial
    • Woodworking and Plywood
    • Textiles
    • Household
    • Others 

1. INTRODUCTION

1.1. Market Overview

1.2. COVID-19 and War Impact

1.3. Market Definition

1.4. Market Segmentation

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

 

3. EXECUTIVE SUMMARY

3.1. Research Highlights

 

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

 

5. RUSSIA ADHESIVES MARKET BY TYPE

5.1. Introduction

5.2. Water-based

5.3. Solvent-based

5.4. Hot-Melt

5.5. Reactive

5.6. Others 

 

6. RUSSIA ADHESIVES MARKET BY APPLICATION

6.1. Introduction

6.2. Consumer Appliances

6.3. Automobiles

6.4. General Transportation

6.5. Medical

6.6. Industrial

6.7. Woodworking and Plywood

6.8. Textiles

6.9. Household

6.10. Others 

 

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

7.1. Major Players and Strategy Analysis

7.2. Emerging Players and Market Lucrativeness

7.3. Mergers, Acquisitions, Agreements, and Collaborations

7.4. Vendor Competitiveness Matrix

 

8. COMPANY PROFILES

8.1. 3M

8.2. Dow

8.3. BASF SE

8.4. Henkel AG & Co. KGaA

8.5. Ashland


3M

Dow

BASF SE

Henkel AG & Co. KGaA

Ashland


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