Adhesives Industry Data Book - Packaging Adhesives, Construction Adhesives, Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Adhesives Industry was valued at 19,905 Kilotons in 2022 and is anticipated to increase at a significant CAGR of 5.2% from 2023 to 2030.
Grand View Research’s adhesives sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Construction Adhesives Market Insights
The global construction adhesives market size was estimated at 3,151.4 Kilotons in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. Growing investments in infrastructure sector worldwide are likely to push the demand for construction adhesives during the forecast period. As per the United Nations report on infrastructure in 2021, increasing investments in the infrastructure segment can add up to 0.6% to the global GDP. This addition can be more in some countries, including the U.S. and Brazil where it is up to 1.3% and 1.5%, respectively. Emerging economies are expected to remain key markets for construction adhesives demand, as 60% of infrastructure investment is projected to be attracted by these countries.
Commercial construction is anticipated to remain a key driver for the long-term growth of the U.S. market. It accounted for over 34.0% of revenue share in 2023 and is likely to grow at a moderate CAGR during the forecast period. Adhesives are widely utilized in commercial and residential buildings for bonding insulation foams, plastics, wood-based panels, plasterboard panels, and other synthetic raw materials.
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Wood Adhesives Market Insights
The global wood adhesives market size was estimated at 2,538.3 Kilotons in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. Growing global engineered wood-based panel production is a significant factor driving the market. Engineered wood-based panels such as plywood, oriented strand board, and particle board consume a significant volume of adhesives during their manufacturing process. For instance, plywood is produced by binding veneers with adhesive.
The market is anticipated to grow over the forecast period owing to the increasing demand for eco-friendly and green furniture. Rising concerns among people regarding the abatement of trees and global warming have led to a surge in the use of engineered wood-based panels. Rapid urbanization coupled with an increase in disposable income has contributed to a higher demand for engineered wood furniture. This is estimated to be a significant factor in influencing product demand.
Furthermore, rising concerns among people regarding the abatement of trees and global warming have led to a surge in the use of engineered wood panels. The manufacturing of engineered wood panels such as oriented strand board, plywood, and particle board requires a significant volume of adhesives. For instance, plywood is produced by applying adhesive resin to veneers. As a result, the growing demand for wood panels is likely to boost demand for wood adhesives.
Go through the table of content of Adhesives Industry Data Book to get a better understanding of the Coverage & Scope of the study
Adhesives Industry Data Book Competitive Landscape
The adhesives market is a highly competitive and dynamic industry that offers a wide range of adhesive solutions for various applications. To gain a competitive edge in this market, companies need to stay abreast of industry trends, customer demands, and technological advancements.
Key players operating in the Adhesives Industry are:
- DOW
- 3M
- Henkel AG & Co. KGaA
- Sika AG
- Arkema
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