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The Global Industrial Adhesives Market Is Estimated To Be Valued At US$ 42.04 Bn In 2023 And Is Expected To Exhibit A CAGR Of 6.6% Over The Forecast Period 2023 To 2030, As Highlighted In A New Report Published By Coherent Market Insights.
Market Overview: Industrial Adhesives Are Extensively Used In Various Industries Like Construction, Automotive, Electronics And Packaging To Join Different Surfaces Or Materials Effectively And Economically For Strength And Durability. They Provide Advantages Like Bonding Different Materials Together That Otherwise Cannot Be Joined, Resistance To Heat And Chemicals And Act As Sealants.
Market Key Trends: One Of The Key Trends In The Industrial Adhesives Market Is The Increasing Demand For Industrial Sealants And Caulks. Sealants And Caulks Find Widespread Applications In The Automotive And Construction Industries. They Are Used To Fill And Seal Gaps And Joints Around Doors, Windows And Perimeter Joints In Buildings. They Provide Waterproofing And Soundproofing. The Growing Construction Industry Especially In Developing Countries Of Asia Pacific And Latin America Is Fueling The Demand For Sealants And Caulks Driving Growth Of The Overall Industrial Adhesives Market.
Segment Analysis
The Global Industrial Adhesives Market Growth Is Segmented By Resin Type Into Acrylic, Polyurethane, Epoxy, Vinyl, And Others. The Acrylic Sub-Segment Currently Dominates The Market And Is Projected To Continue Its Dominance Over The Forecast Period. Acrylic Adhesives Provide High Bond Strength, Quick Setting, And Strong Resistance Against Heat, Water, And Weathering. Their Excellent Adhesion To Various Surfaces Including Metal, Plastic, And Wood Make Them Suitable For A Wide Range Of Applications.
Key Takeaways
The Global Industrial Adhesives Market Is Expected To Witness High Growth, Exhibiting A CAGR Of 6.6% Over The Forecast Period, Due To Increasing Demand From Various End-Use Industries Such As Packaging, Construction, Automotive, And Electronics Manufacturing.
Regional Analysis – Asia Pacific Currently Accounts For Over 40% Of The Global Market Share And Is Expected To Maintain Its Dominance Over The Forecast Period. Rapid Industrialization And Growth Of The End-Use Industries In China, India, Indonesia, And Other Developing Nations Are Driving The Demand For Industrial Adhesives In The Region.
North America Is Another Major Market For Industrial Adhesives Owing To The Strong Presence Of Key End-Use Industries Such As Automotive And Electronics Manufacturing.
Key Players Operating In The Industrial Adhesives Market Are Henkel, 3M, Bostik, Avery Dennision, H.B. Fuller, Jowat, And Pidilite Industries Limited. Key Players Are Focusing On New Product Development, Partnerships, And Acquisitions To Gain A Larger Market Share. For Instance, In 2022, Henkel Acquired Thermal Ltd To Expand Its Product Portfolio In The Electronics Assembly Industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
