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Global industrial adhesives market: $40 billion industry forecast by 2020

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Industrial Adhesives: Products and Technologies - A Global Market Overview - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-24 12:44:02
Global consumption for industrial adhesives is estimated at 21.3 billion lbs valued at US$26.7 billion and projected to reach about 30 billion lbs equated to US$40 billion growing by compounded annual growth rate (CAGR) of 5.1% and 6% respectively for volume and value for the period 2013-2020.Principal elements for the high rate of growth in the 100% reactive adhesive category include a recovery in the manufacturing sector and a trend towards production substitution in favor of higher value materials. The robust gains indicated for hot melt adhesives are characteristic of their responsiveness to rapid processing speeds, in addition to lack of volatile organic compound (VOC) emissions, which is of specific benefit in the packaging sector.While alternative formulations have eaten away into the growth prospects of solvent-based adhesives over the past few years, the prospect of an above-average growth for this adhesive category is very much on the cards. This can be attributed primarily to a once-again burgeoning construction sector and efforts undertaken by suppliers in cutting down VOC emissions. As was the case in the past, water-based adhesives are slated to maintain sustained growth over the analysis period, the primary reason for which is the absence of volatile organic compound (VOC) emissions in their utilization.The classification of adhesives is undertaken by several methods, with many levels and sub-levels, too, existing to these schemes of classification. One of these classification methods involves the technologies that go into the manufacture of adhesives, which include Water-Based, Solvent-Based, Hot Melt and 100% Reactive.One of the key industry players in the industrial adhesives market is 3M Company. Established in 1929 with headquarters in St. Paul, Minnesota, 3M Company is one of the largest global technology conglomerates, operating in the core business divisions of Industrial and Transportation, Healthcare, Consumer and Office, Safety, Security and Protection Services, Display and Graphics and Electro and Communications. The company offers its products and solutions through several distribution channels ranging from direct to end-user and wholesalers to retailers, jobbers, distributors and dealers on a worldwide basis.

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