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Global adhesives market: $40 billion industry by 2018

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Adhesives: A Global Strategic Business Report - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-14 07:55:04
The global Adhesives market is projected to reach US$40.2 billion by 2018, primarily driven by expanding application areas, product and technology innovation and increasing demand from developing countries.

Adhesives find widespread applications in a broad range of industrial and commercial sectors. Specialty and engineering adhesives are widely used in the construction and automotive industries, while general-purpose adhesives find applications in the textiles, consumer goods and packaging sectors. Access to raw materials, expertise in chemistry and proximity to end-user customers, represent key factors that determine a manufacturers competitiveness in the market. Developed regions including Europe, Japan, and the United States have long represented major markets for adhesives. The Middle East and Asia-Pacific region led by countries like China, India, Taiwan, Vietnam, South Korea, are forecast to drive future growth in the market. Rapid pace of industrialization, strong GDP growth, rise in manufacturing/industrial output, represent key growth drivers in these regions. India represents an upcoming market for aggressive investments by global majors. In South America, Brazil and Argentina are emerging as promising markets for adhesives.

Increasing use of high performance adhesives in medical applications is driving growth in the market. Growing demand for dental and surgical adhesives, as a result of the aging population, 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.

Europe continues to remain the largest regional market worldwide. Asia-Pacific represents the fastest growing market with a projected CAGR of 4.4% over the analysis period. By chemical type, Acrylic Adhesives is one of the fastest growing segments worldwide.

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