The global adhesive and adhesive-applying equipment market should reach $74.5 billion by 2022 from $57.8 billion in 2017 at a compound annual growth rate (CAGR) of 5.2%, from 2017 to 2022.
The report has been prepared in a simple format that can be easily understood through tables and figures.
Its scope includes a detailed study of global and regional markets for various adhesives, with the reasons given for variations in the growth of the industry in certain regions. The report also studies the equipment used for applying adhesives and its global and regional markets.
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– An overview of the global as well as regional markets for adhesives and adhesive applying equipment.
– Analyses of global market trends, with data from 2016, estimates for 2017, and compound annual growth rates (CAGRs) for the five-year period through 2022.
– Discussion of the various technologies involved in the manufacturing of different types of adhesives, including the value of such products produced and utilized globally as well as in different regions.
– Coverage of product lifestyle and technology lifestyle (TLC) of various types of adhesives and methods employed by various manufacturers and users in maintaining ecological balance.
– Information on various manufacturers of different raw materials needed for the production of adhesives and the market shares of such manufacturers and suppliers.
– Analysis of the market’s dynamics, specifically growth drivers, inhibitors, and opportunities.
– Profiles of major players in the industry.
Adhesive products are used to create bonds between two different or similar materials. Adhesives are made from precise blends of petroleum-derived plastic resins, synthetic rubber elastomers and additives used to enhance certain characteristics. The final formulation ultimately depends on the end use. Industries that typically use adhesives include construction, consumer products, assembly, packaging, labeling and transportation. Products expected to see the most growth include electronic adhesives for printed wiring boards, hot-melt systems and automotive adhesives. The most common end uses for hotmelt adhesives are packaging and disposable and pressure-sensitive products.
The adhesive industry consists primarily of manufacturers of industrial and household adhesives and glues. Major factors influencing the growth of this industry include the stability of other industries using its products, the availability of raw materials and environmental concerns. Products showing the greatest growth in the late 1990s included natural-base glues and adhesives, mainly those made from natural gums, shellac, lacquers, varnishes, hot-melt adhesives and epoxy adhesives. Products with
declining sales included several kinds of synthetic resin and rubber adhesives, rubber and synthetic resin combinations, and protein and dextrine vegetable natural adhesives. Nonetheless, when measured by value of product shipments, synthetic resin and rubber adhesives (e.g., epoxies, hot-melt adhesives, rubber cements, pressure-sensitive adhesives) held approximately 60% of the market share.
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Growth is controlled by the availability of raw materials. Hot-melt adhesives, favored in industries as the most likely products to outstrip the market with their growth, require hydrocarbon resins. Demand for those resins increased in the early 2000s. Many manufacturers attempted to expand their production capabilities to keep up with the growth of the raw materials market; demand was expected to increase at a rate of 4% annually. Even if supply remains adequate, prices were already rising, meaning that the largest companies would be best positioned to compete for available raw materials.
The industry grew steadily but slowly in the last two decades. Individual companies seeking to increase their revenues looked to mergers and acquisitions, particularly in Asian markets, where industry growth was expected to surpass that in the U.S. At the same time, foreign companies increasingly invested in U.S. firms, resulting in the industry becoming more globalized and consolidated. As demand for specialized adhesive applications increased, smaller firms were able to carve out their own positions.
Nonetheless, larger companies took larger portions of market share, and in 2010, more than 55% of the market was controlled by the top 20 companies.
The adhesive market depends greatly upon secondary industries, so trends in other sectors of the economy can significantly impact this industry. One sector showing increasing interest in adhesives was the automotive industry. Several U.S. automakers joined with adhesive makers to develop industryspecific applications to cut costs, reduce weight and even increase recyclability of cars made with these products. The market for reactive adhesives grew as the automotive industry moved away from
mechanical fasteners. The development of epoxy/urethane hybrids attracted particular interest because of the broad range of demands placed on adhesives used in the automotive industry. Both manufacturers and users of these products were looking to combine high tensile strength and compatibility with flexible materials. Developments in reactive adhesives for the auto industry also brought benefits to other industrial sectors, including appliance manufacturing.