Top Emerging Trends Of Engineering Adhesive Market Progress Forecast 2025Posted by Mrudula Anil Karmarkar on March 16th, 2021 The global engineering adhesives market size is expected to reach USD 31.67 billion by 2025, according to a new report by Grand View Research, Inc. registering a CAGR of 7.2% over the forecast period. Increased focus on renewable energy mainly from the wind sector is anticipated to create new avenues for industry participants. The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor. Engineering adhesives have a high demand in battery and storage systems, blades and other renewable applications. Many governments have started adopting new policies and schemes to improve energy output from the renewable sector. This is likely to benefit engineering adhesives demand over the coming years. China is one of the leading consumers of energy and also contributes heavily to global pollution. This has led to increasing the renewable energy capacity in the country. As per data published by the Global Wind Energy Council, China’s onshore installed capacity for wind sector accounted for 21,200 MW in 2018 which is highest in the global market. The automotive industry is one of the largest consumers of bonding products in the global market. Continuous production along with a focus on weight reduction in vehicles is likely to contribute to the demand of products. Advancement in technology has assisted in the production of innovative adhesive products where they can replace mechanical fasteners. Industry participants are looking for new regional markets through expansion and various inorganic growth strategies. For instance, recently in March 2019 H. B. Fuller announced its expansion in Japan. The company has established as H.B. Fuller Japan G.K. This strategy will help the company to strengthen its business in the regional market by focusing on new applications and reactive adhesives. Further key findings from the report suggest:
Electrical & electronics segment is anticipated to grow at a lucrative pace during the forecast period. Demand from computers, laptops, smartphones, and consumer electronic products are the key driving factors for the industry. Applications such as potting and masking in electronics require various type of products with electrical properties. The demand for such products is likely to surge owing to the growing population and increasing income levels. Asia Pacific is projected to witness significant demand for the products. Manufacturers are also shifting their production facilities in emerging countries including China, Taiwan, India, Philippines, and Indonesia. Shifting trend towards lightweight vehicles is anticipated to remain a key driver for the regional market. Increased demand for engineering adhesive products has been observed in Asia Pacific. This demand is attributed to the growth of industrial output in emerging countries such as China and India. Replacement of conventional fasteners with bonding products has observed widespread applications in construction, transportation, and other sectors. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/2650/ibb The global engineering adhesive industry is dominated by multinational companies with their presence across different stages of the value chain. Integration in the value chain allows these companies to reduce the operations and procurement costs and diversify their business in various end-use industries. Major market participants include Henkel AG & Co. KGaA, H.B. Fuller Company, Permabond LLC, 3M, and Dymax Corporation among others. Advanced formulations and innovative products are anticipated to remain key strategies for market vendors. Grand View Research has segmented the global engineering adhesive market report on the basis of product and application: Product Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
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