The global industrial adhesives market is expected to expand at a moderate rate in terms of the volume of adhesives manufactured. A steady and calculated growth of the adhesives market can be attributed to the replacement of mechanical fasteners with adhesives in various end-user industries. Examples of end-user industries using adhesives include construction, consumer durables, aerospace, automotive, packaging, alongside other heavy industries. Few of the major applications of industrial adhesives is in the automobile industry. Replacing metal fasteners with adhesives reduces the weight of the vehicle and makes it more easily operable. The vehicle also consumes less amount of petrol and becomes environmentally friendly if it uses adhesives.
Industries Impacting The Growth Of The Adhesives Market
- Adhesives which are usually manufactured have been found to be environmentally friendly. The adhesives industry is directly impacted by the automobile industry. The growth of the industry in the Asia Pacific region and in European countries is giving rise to more number of market players that can professionally flourish. The adhesives industry, which provides extensively to the automation and automobile industry, finds string roots in Germany and Japan- two major technology players in the world. The world is seeing heightened demand for luxurious cars which along with other factors are boosting vehicle purchase, helping the adhesives market to thrive.
- The adhesives are widely preferred by industries manufacturing consumer durables, such as that of packaging and assembling which employ adhesives to ensure better flexibility, lesser time to dry as well as better adhesive properties. There is an apparent rise in the consumer supply market across the globe favoring the rise in the global adhesives market size.
- The aircraft industry uses adhesives in keeping the various hardware of the aircraft intact. Aircraft manufacturers require high quality, often non-biodegradable adhesives which are specialized for keeping together metal parts. The adhesive requirement is dependant on the weight of joining materials, as per which adhesives are given grades and rates. A rise in the adhesives market can also be attributed to the expansion of the aircraft manufacturing market in developing as well as developed countries.
- Adhesives are similarly employed in the construction industry. There is an apparent rise in the construction sector across the globe which uses adhesives in operations concerning the development of false ceilings, attractive aesthetic designs, tiles, plaster, as well as the assembling of furniture.
- The hospitality sector is also affecting the growth and expansion of the adhesives market. The need and demand for better aesthetics and furniture requirements is causing the hospitality industry to make bulk orders for adhesives of high quality. Developed countries of Australia, the U.S. and Switzerland are making use of certain types of adhesives which can hold glass material together.
Sika Ag, Toyo Polymer Co. Ltd, Huntsman Corporation, the Dow Chemical Company, Pidilite Industries Limited, Mitsubishi Chemicals Corporation, and Henkel Ag & Company, Kgaa are a few of the major industry players in the adhesive market. According to experts, the prices of raw materials of adhesives is undergoing a dynamic shift. There are also stringent government regulations which take into account various environmental issues relevant to the adhesives market. The adhesives market can be segmented into solvent-based adhesives, water-based adhesives, hot melt adhesives, and finally as pressure sensitive adhesives.