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Global Adhesive Coatings Market Insight2021-12-31 Comments
The Adhesive Coatings is forecast to Continued growth over the next years. According to the World Knowledge Information (WKI) “Global Adhesive Coatings Professional Survey Report 2021, Forecast to 2026”, Increasing demand for automobiles, construction, packaging, furniture, shoes, and pressure-sensitive applications are key drivers of market growth. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 3.27% base on WKI regression analysis model.
“Every new product developed today must not only be better and more affordable than its predecessor, but must also be sustainable. This is where the value of adhesive coatings becomes apparent. Environmental considerations mean that the development of new products is becoming more and more difficult, and manufacturers must address more complex needs for their new products.”said Jennie, Senior analyst, Chemical industry Market Research Center in WKI.
The key drivers of growth are increasing demand for automobiles, construction, packaging, furniture, shoes, and pressure-sensitive applications. As light-duty passenger vehicles with higher fuel efficiency and lower emissions are becoming more and more popular, sales of high-performance adhesives in the global automotive industry have skyrocketed. These adhesives are used in various applications inside and outside automobiles. For example, they can reduce weight by replacing nuts and bolts, thereby improving the fuel economy of the vehicle. Therefore, it is expected that improved adhesives with excellent adhesion properties will replace traditional welding and other mechanical fixing methods. In addition, in the construction industry, adhesive coatings are mainly used for tiles, gypsum board pasting, wall fixtures, roof applications, toilet floors and molding. Therefore, the rapid growth of the construction industry, especially in emerging economies such as China and India, may generate growth prospects in the near future. Crude oil and petrochemical products are the two most important raw materials used in the production of adhesives. However, the price fluctuations of these projects have damaged the profitability of participants in the past few years and are expected to have a significant impact on the growth of the adhesive coatings market in the next few years.
Henkel announced on May 21, 2021 that it will establish a new adhesive technology innovation center in Zhangjiang, Shanghai. Turn its existing Zhangjiang office park into an innovation center in China and the Asia-Pacific region, and help Henkel Adhesives Technology Business Unit develop advanced adhesives, sealants and functional coating solutions to better serve all types Industry, to provide support for customers in China and the Asia-Pacific region.The major players in the adhesives market include: Henkel, HB Fuller, Arkema, Sika, 3M, Dow Consumer Product Solutions, Hunter, Lord Corporation, PPG Industries, Ashland, Giovat, Avery Denison, Ramosa, ThreeBond, EMS Group, Kleberit, Shenzhen Taiqiang Chemical.
Segmentation of Adhesive Coatings Market:
According to product types, the market is mainly subdivided into: non-reactive adhesives, solvent-based adhesives, water-based dispersion adhesives, and others.Among them, the water-based dispersant occupies a large share of the market because it has excellent water-based dispersibility and a small amount of addition, which can quickly reduce the initial viscosity of coatings and slurries, and has long-term stability. And the gloss and permeability are better.According to the application, the market is mainly subdivided into: industrial and consumer goods, construction and renovation, paper and packaging, and others.Among them, the proportion of building decoration is relatively large, because in the development of the market economy, with the improvement of people’s living standards, people have higher and higher standards for building decoration. Therefore, the demand for adhesives is increasing.
Adhesive Coatings Market: Regional Analysis
In terms of geography, the global Adhesive Coatings market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The adhesive coatings market in the Asia-Pacific region dominates the market. Because of rapid industrialization, significant GDP growth and increased manufacturing production will drive regional growth. In addition, favorable government regulations may promote the development of the construction industry, which will help the penetration of products in the region.
Largest share area：Asia-Pacific
Largest share country：China