Global Industrial Adhesives Market predicted to cross USD 59 billion by 2023
Posted by rohan on October 14th, 2019
The market for industrial adhesives is experiencing a slow growth rate driven by the demand for acrylic resins in the manufacturing sector. The global industrial adhesives industry is expected to reach a total volume of $ 59.41 billion by 2023, expanding with an annual growth rate of 5.26%.
The 3M Company, a significant competitor in the market for industrial adhesives, achieved a frightening financial result in April, mainly due to software adaptation to the industrial manufacturing process.
Market Drivers and Restraints:
The market is mainly driven by the demand for acrylic resins across the globe. In addition, market demand for water-based adhesives is also contributing to the growth of the industrial adhesives market. However, the associated costs may limit the market over the forecast period. Besides, market concentration in regions such as the Asia-Pacific is inhibiting its expansion in several areas of the world.
To know more, click on the link below:
Report segmented as
By Material Base:
Geographically, the Asia-Pacific region has the largest market share of industrial adhesives in terms of value and volume in 2018. The environmental benefits, like the simple configurations, cheap resources and a large number of skilled workforces, are the main reasons for the fast-growing industries in this region. Moreover, there are fast-developing economies such as India, Japan and China, which are supporting the development of the regional market. For these reasons, APAC is expected to be the fastest-growing local market over the proposed forecast period.
North America will be the next market leader from 2018 onwards. The presence of key market players in this region with a well-developed infrastructure is the main reason for its market position.
Important Market Players:
By the end of 2018, Henkel AG & Co. KGaA (Germany), Mitsubishi Chemicals Corporation (Japan), Sika AG (Switzerland), 3M Company (U.S.), The Dow Chemical Company (U.S.), Pidilite Industries Ltd. (India), H.B.Fuller (U.S.), Huntsman Corporation (U.S.), Ashland Inc. (U.S.), BASF SE (Germany), Toyo Polymer Co. Ltd. (Japan), and Bemis Co. (U.S.) are the leading shareholders of the Industrial Adhesives Market.
View a sample and decide @ https://www.marketdataforecast.com/market-reports/industrial-adhesives-market#request_sample
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
For more information:
Sales Manager at Market Data Forecast
Like it? Share it!
About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
More by this author