Expanding at a CAGR of 4.5% the global sales of Industrial Adhesives is expected to increase from a valuation of US$ 52,862.0 Mn in 2021 to US$ 78 Bn by the end of 2030.
Manufacturing and industrial facilities from numerous verticals require specialized adhesives for production and product quality. As a result, the demand for industrial adhesives has risen steadily in years past.
A key factor driving global demand for industrial adhesive products is the growing scope of applications in the packaging, electronics, and automotive sectors, along with investments into product development for greater functionality, bolstering overall adoption rates.
The report by Future Market Insights gives in-depth insights on the sector in terms of revenue and sales projections for the duration between 2022 and 2030. Application of adhesives as viable substitutes for flanges, panels, and other fastener settings support growth in the long-term.
Sustainability Trends Aid Market Prospects
According to The Adhesive and Sealant Council, the automotive industry alone makes use of up to 40 kg of industrial adhesives for every vehicle. Consequently, the residue, and improper application techniques pose environmental and health risks.
With efforts in keeping up with the requirements of the modern consumers industrial adhesive manufacturers are seeking methods to minimize the environmental impact of their product offerings. Investments into research and development to develop alternatives to conventional chemical industry adhesives market are important.
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On the other hand, cost and performance standards of industrial adhesives are also of high importance for users. Consequently, manufacturers have been pushing for the incorporation of the better technologies towards this end. For instance, electron beam processing has found a role as a substitute for ultraviolet curing or oven drying, which has shown promise in minimizing emissions of volatile organic compounds.
Industrial Adhesives Market – Competitive Landscape
Industrial adhesive manufacturers around the world are employing a multi-pronged strategy including product development, collaborations towards bolstering distribution networks, and capacity and geographic expansion endeavors.
The coronavirus is expected to create short term hurdles for industrial adhesives. However, the overall prospects of the sector are positive through 2030, even as some businesses are pushed towards operational and workforce cuts during this period.
In addition to these players, some other prominent industrial adhesive manufacturers include:
- 3M Company
- Sika AG
- H.B. Fuller Company
- Huntsman Corporation
- Teraoka Seishakusho Co. Ltd
- Pidilite Industries Ltd.
- FORBO Holding
- Covestro AG
- Organik Kimya
- Panacol-Elosol GmbH
- Cargill Inc.
- Master Bond Inc.
- Glue Dots International
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Industrial Adhesives Market – Key Segments
- UV Cure
- Pressure Sensitive
- Hot Melt
- Automotive & Aerospace
- Healthcare & Hygiene
- Consumer Goods
Ani-Microbial Products Gain Traction with Covid-19
The uncertainty over the duration and severity of the coronavirus pandemic has resulted in consumers and end user industries pushing for the development of offerings with anti-microbial offerings. Demand is expected to rise for applications in healthcare device production to minimize the spread of anti-biotic resistant microbes and hospital acquired infections.
Demand in the recent past was relatively lower owing to cost and durability issues. However, health and economic changes have helped in the justification of adopting these materials. Industrial adhesive manufacturers can potentially take up repurposing and rebranding strategies for their offerings. Materials such as liquid metal, biocides, organo-silane nano-coatings, and specialized peptide coatings.