Demand for adhesives continues to grow in countries such as India and China, driving the Asia adhesives market. These countries are expected to present good opportunities in the adhesives market in the period from 2016 to 2020 according to “Adhesives Market Global Report” by The Business Research Company (TBRC). According to TBRC analysis, the Asia adhesives market was valued at $29.37 billion in 2017, and it is expected to grow at a CAGR of 8.40% during 2017-2021.
China’s market of adhesives was valued at $16.34 billion in 2017, and it is expected to grow at a CAGR of 8.50% during 2017-2021. India is also expected to attract investors in the adhesives market in the period from 2017 to 2021. The market in India was valued at $3.47 billion in 2017. TBRC expects the market to grow at 8.70% growth rate. Both countries account for double digit growth rates in automobile and construction industries where adhesives are widely used. The trend of making lightweight and fuel-efficient vehicles is encouraging the use of aluminum and other materials to decrease the weight of vehicles, which is boosting the use of adhesives in automobiles while the massive infrastructure building in the country continues driving the use of adhesives in the commercial and residential construction.
Adhesives are substances applied to one surface or both surfaces of two separate items that binds them together and resists their separation. The term ‘adhesives’ is used interchangeably with glue, cement, mucilage, or paste. The adhesives industry comprises establishments primarily engaged in manufacturing adhesives, glues and caulking compounds. The adhesives manufacturing industry procures raw materials such as resins, polymers, additives and solvents from suppliers and sends them to formulators to combine, mix, process and produce adhesives. After packaging, the adhesives are supplied to the end-user market for use in a wide range of bonding and sealing purposes. They are used in packaging, construction, automobiles, lamination, footwear and other industries and by retail consumers for basic household activities.
Europe and Americas regions also provide good opportunities in the adhesives market with fast growing countries such as Germany and Brazil. Germany adhesives market is projected to show a growth of 7.20% during 2017-2021 and the market value being $1.76 billion in 2017. Brazil’s growth is estimated to be the tenth, among all countries covered, at 1.48%. The market is going to reach $79.4 billion by 2021. Germany’s adhesives strong growth is closely associated with the automobile industry in the country which is a homeland for Audi, BMW and Volkswagen. The adhesives market growth in Brazil is closely related to emerging industries in the country such as automotive, construction, and packaging.
As one of the main trends in the adhesives market TBRC recommends chemicals companies to emerge new adhesive types to cater to the needs of various industries. The various types of adhesives being developed are pressure-sensitive adhesives, pre-cut layered adhesive films and stick-to-skin adhesives. Pressure-sensitive adhesives are used in HVAC (heating, ventilation and air conditioning) duct work, automotive assembly and sound/vibration damping films. Pre-cut layered adhesive films that address vibration and noise concerns save time in assembly. Stick-to-skin adhesives are used in monitoring and drug delivery devices.
Where to Learn More
Read Adhesives Global Market Report 2018 from The Business Research Company for information on the following:
Markets covered: Water-based, Solvent-based, Hot-melt-based, Reactive & other
Companies mentioned: 3M, Henkel, Sika AG, Dow Chemical Co., BASF
Countries: China, India, Japan, UK, Germany, France, Italy, Spain, Russia, USA, Brazil
Regions: Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa, Oceania.
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, population, GDP, Expenditure Per Capita, Adhesives Indicators Comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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