NEW YORK, Sept. 26, 2016 /PRNewswire/ --
The industrial adhesives market is projected to reach USD 53.37 billion by 2021
The industrial adhesives market is expected to grow from USD 41.47 billion in 2016 to USD 53.37 billion by 2021, at a CAGR of 5.2% from 2016 to 2021. Factors such as growth in packaging, construction & woodworking, and transportation end-use industries, and technological advancements drive the growth of the industrial adhesives market.
The natural material base segment is anticipated to grow at the highest CAGR during the forecast period
The natural material base segment is the fastest-growing segment of the industrial adhesives market, in terms of value. Natural adhesives are capable of being retained on the surface of any substance for a long period of time. Moreover, these bio-based adhesives are manufactured or extracted from organic resources and thus, they are considered as eco-friendly materials.
The acrylic segment is expected to lead the industrial adhesives market
The acrylic segment accounted for the largest share of the industrial adhesives market, by composition in 2015. The physical attributes of acrylic include high cohesion, adhesion, resistance to sunlight and water/moisture, and the ability to withstand temperature fluctuations.
The water-based adhesives segment is the largest type segment of the industrial adhesives market
The water-based segment accounted for the largest share of the industrial adhesives market, by type in 2015. These adhesives are considered as the most popular adhesives owing to the fact that they are environment-friendly and possess zero volatile organic compound characteristics.
The construction & woodworking segment is the largest end-use industry segment of the industrial adhesives market
The construction & woodworking segment accounted for the largest share of the industrial adhesives market, by end-use industry in 2015. Industrial adhesives are widely used for bonding, renovation, maintenance, and repairing in residential, commercial, and civil constructions.
The industrial adhesives market in the Asia-Pacific region is anticipated to grow at the highest CAGR during the forecast period
Asia-Pacific is the fastest-growing region in the industrial adhesives market. Rapid industrialization and rise in infrastructural developments offer enormous opportunities in the Asia-Pacific industrial adhesives market. In addition, growth in the manufacturing sector has significantly propelled the demand for industrial adhesives in this region.
BREAKDOWN OF PRIMARY PARTICIPANTS PROFILE:
By Company Type: Tier 1 – 32 %, Tier 2 – 40%, and Tier 3 – 28%
By Designation: C-Level – 43%, Director-Level – 12%, and Others – 45%
By Region: North America – 29%, Europe – 23%, Asia-Pacific - 30%, South America -10%, and Middle East & Africa – 8%
As a part of the qualitative analysis, the report provides a comprehensive overview of key drivers, restraints, opportunities, challenges, and regulations. It also discusses competitive strategies adopted by market players across different regions. The companies profiled in this report are H.B. Fuller (U.S.), Henkel AG & Co. KGaA (Germany), BASF SE (Germany), Huntsman Corporation (U.S.), and The Dow Chemical Company (U.S.), among others.
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