Article -> Article Details
|Title||Industrial Adhesive Market is Expected to Reach USD 74.80 Billion by 2027|
|Category||Regional --> United States|
|Meta Keywords||Industrial Adhesive Market, Industrial Adhesive Industry, ResearhCMFE|
The Industrial Adhesive Market size was USD 53.02 billion in 2019 and expected to reach USD 74.80 billion by 2027; this converts into a compound annual growth rate (CAGR) of 4.40% for the forecast period.
Industrial Adhesive Market dynamics:
The industrial adhesive market is expected to witness substantial growth through the automotive sector. A decrease in sales in this sector will, therefore, hamper the growth of the market. Moreover, any fluctuation in demand from the end-user industries may further cause a deceleration in the augmentation of the market.
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Epoxy adhesives offer numerous benefits such as low shrinkage during and after cure, high mechanical strength, chemical and heat resistance, and more. These advantages are widening the application base of adhesive within the construction industry. Growing demand for autonomous vehicles or advancement in V2I, V2V, active safety, and similar technologies will drive up the use of industrial adhesives in the electronics as well as the automotive industry. Furthermore, the need for lightweight packaging is paving the way for the development of newer adhesives. All of these factors will provide a plethora of opportunities for the market to flourish.
A few key players include, but not limited to: Flamemaster, Permatex, Master Bond Inc., Solvay, Beacon Adhesives, Huntsman Corporation, Ashland, Lord Corporation, Franklin Adhesives and Polymers, Kleiberit Adhesives, Dow, Jowat.
The Industrial Adhesive Market is segmented to include:
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Industrial Adhesive Market by Geography Overview:
Based on geography, the market is segmented as below:
An adhesive used, to bond two surfaces together, generally in industrial applications are known as industrial adhesives. The commonly used raw materials for the production of these adhesives are natural rubber, starch, synthetic polymer, neoprene, etc. Various additives are mixed with these materials to produce an adhesive with a specific composition.
The growing demand for adhesives across various industries such as automotive, construction, packaging, electronics, footwear, and more coupled with its increasing applications will fuel the adhesive market. Additionally, the development of bio-based adhesives will bolster the market growth. Stringent environmental regulations may pose a threat to the expansion of the market.
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Recent news in Industrial Adhesive Industry:
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