The industrial adhesives market is expected to grow by USD 13.92 billion during 2019-2023, according to the latest market research report by Technavio. Request latest free sample report of 2020-2024
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Technavio has published a latest market research report titled Global Industrial Adhesives Market 2019-2023 (Graphic: Business Wire)
Mechanical fasteners are being increasingly replaced with industrial adhesives in various end-user industries and other heavy industries. Manufacturers are using adhesives in industrial applications, owing to their superior product performance and better operation when compared with conventional methods. Also, the use of adhesives eliminates the corrosion associated with the joining of dissimilar metals with different galvanic potential. Such advantages of industrial adhesives are likely to increase their market demand during the forecast period.
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As per Technavio, the adoption of eco-friendly adhesives will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
Industrial Adhesives Market: Adoption Of Eco-friendly Adhesives
The growing demand from emerging economies for low-VOC and green, sustainable adhesives is fueling the need for eco-friendly industrial adhesives. This has resulted in the production of industrial adhesives from renewable, plant-based, and animal-based materials. Moreover, a number of manufacturers of industrial adhesives are formulating environment-friendly adhesives to meet the highest possible standards of environmental health and safety. Thus, the rise in the adoption of eco-friendly adhesives is likely to fuel market demand for industrial adhesives during the forecast period.
"The continuous development of new products is a factor that is boosting the growth of the global industrial adhesive market. Currently, vendors have come out with hot melt adhesive which can bond foams and fabrics. It has high heat resistance as well as the ability to retain adhesion at very low temperatures. Such innovative product offerings are expected to contribute largely to the growth of the overall global market", says a senior analyst at Technavio
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Industrial Adhesives Market: Segmentation Analysis
This market research report segments the industrial adhesives market by technology (water-based adhesives, solvent-based adhesives, hot melt adhesives, and reactive adhesives), end-user (building and woodworking, packaging, transportation, pressure-sensitive products, and others), and geographic landscape (APAC, Europe, MEA, North America, and South America).
APAC will account for the largest share of the industrial adhesives market throughout the forecast period. Factors such as increasing investments in infrastructure development and the growth of the manufacturing and retail sectors will drive industrial adhesives market growth in this region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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