The Global Market for Adhesives is Projected to Reach US$43.6 Billion by 2020

Rise in Automobile Production Drives the Global Adhesives Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Adhesives. The global market for Adhesives is projected to reach US$43.6 billion by 2020, driven by the resurgence in the world construction sector, and steady increase in automobile production.

Adhesives help bind two surfaces together, and offer several benefits over other binding techniques such as mechanical fastening, sewing, and thermal bonding. Adhesives feature the ability to bind diverse materials, and provide superior binding strength by distributing stress more efficiently across the joint. In addition to being a cost effective binding technique, adhesives also help enhance the aesthetic appeal of materials. Adhesives are indispensable in a wide range of industrial and commercial applications. From construction, packaging, automotive, furniture, footwear, electronics, shipbuilding, medical, to aerospace, adhesives are widely used in the manufacturing process. Specialty engineering adhesives are used in the construction and automotive industries, while general-purpose adhesives find applications in both commercial and industrial sectors like consumer goods and packaging. Encouraged by the advancements in curing technologies, adhesives are finding wider use in specialized applications in aircraft manufacturing and food processing.

Environmental concerns and regulations have always weighed down upon the adhesives market, as the industrial chemical waste generated by this industry is one of the primary sources of environmental pollution. Formulation and production of ecofriendly adhesives like solvent-free adhesives are therefore growing in popularity. Manufacturers are increasingly investing in product development programs designed to engineer eco-friendly adhesives based on vegetable oils, organic starch, feedstock, soy and water. Manufacture of polyurethane adhesives derived from microbial processes and fermentation is growing in popularity. Finding strong favor among adhesive manufacturers are vegetable oils, which are already being used widely in formulating efficient adhesives like polyamides that are capable of competing effectively against petroleum derived adhesive systems. The trend toward recycling and safe disposal of waste will also grow stronger in the coming years.

Increasing use of high performance adhesives in medical applications is driving growth in the market. Growing demand for dental and surgical adhesives is also benefiting demand in this sector. Cyanoacrylate adhesives dominate the market for medical adhesives. Growing focus on renewable energy is also opening up opportunities or adhesive manufacturers. The push towards a viable renewable energy source has brought solar photovoltaic power technology to the forefront, and manufacturing of solar panels is forecast to emerge into one of the most crucial application areas for adhesives.

As stated by the new market research report on Adhesives, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 6.4% over the analysis period. Growth in the region is driven by rapid pace of industrialization, strong GDP growth, and rise in manufacturing output.

Major players in the market include 3M Company, AkzoNobel Chemicals B.V., Acucote, Inc., Adhesives Research, Inc., AkzoNobel Chemicals B.V., Ashland Inc., Avery Dennison Corporation, BASF SE, Bayer MaterialScience AG, Beardow and Adams (Adhesives) Ltd., Berry Plastics Corporation, Bolton Group, Bostik Inc., Chemence Ltd., Collano AG, Creative Materials, Incorporated, DIC Corporation, The Dow Chemical Company, DYMAX Corporation, Forbo International SA, Franklin International, Georgia-Pacific Chemicals LLC, H.B. Fuller Company, Henkel Corporation, Hernon Manufacturing Inc., Hindustan Adhesives Limited, Huntsman International LLC, Illinois Tool Works, ITW Devcon, LORD Corporation, MACtac, Mapei S.p.A., Momentive, PPG Aerospace, RPM International Inc., DAP Products, Inc., Scapa Group Plc, Shurtape Technologies, LLC, Sika AG, Super Glue Corporation, Tesa SE, United Resin Corporation, and Wisdom Adhesives Company, among others.

The research report titled “Adhesives: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ and Pounds (lbs.) for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, and Rest of World. Product markets analyzed by chemical type include Styrene Butadiene Rubber, Phenolic, Polyolefin, Epoxy, Starch & Dextrin, Acrylic (Cyanoacrylic & Others, Acrylic PSA, Acrylic Emulsion), Urea Formaldehyde, Polyvinyl Acetal, Polyvinyl Acetate, Neoprene, Thermoplastic Rubber, Polyurethane, Natural Rubber, Protein, Furan, Polyvinyl Chloride, Reclaimed Rubber, Silicate, Silicone Rubber, Polyamide, Polyvinyl Alcohol, Nitrile, Butyl Rubber & PIB, Polyester, Ethylene, and Bitumen, and others.