Solvent Based Adhesives: Market Size. From $6. 91 billion in 2020, the global Solvent Based Adhesives market is projected to reach $9. 11 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 3.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Solvent Based Adhesive Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127614/?utm_source=GNW
5% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include rising trend of low carbon emitting and lightweight vehicles, growing pace of change in the appliances industry, and rapid industrial globalization.
Global Solvent Based Adhesives Market: Market Dynamics
Solvent based adhesives grasp superiority in fast paced industries because they have a short fixing time, substantially decreasing the amount of time waiting for an application to set. Additionally, some solvent based adhesives are not flammable. Owing to this, it is still effective to use in a flammable environment such as a garage or kitchen. The inclination for packaged food products has risen over the past years with changing lifestyle, particularly in the urban cities of developing countries such as Malaysia, China, and India.
The changes in consumer preferences, especially in infant, female, and aging population, and have increased the demand for nonwoven textile products such as baby diapers, sanitary pads, and adult diapers. Emerging economies, such as Brazil, India, and China are anticipated to register a high CAGR during the forecast period for the solvent-based adhesives market.
On the other hand, the rising inclination for green, non-hazardous, and sustainable adhesives is likely to obstruct the profit boundaries. In addition, increase in the packaging industry in emerging economies will further boost for the Solvent Based Adhesives market.
Impact of COVID-19 on Solvent Based Adhesives
The US, Germany, the UK, Italy, South Korea, Spain, and Japan are among the adversely affected major industrialized economies as COVID-19 has posed many challenges for the automotive sector. It is estimated that the sales in the US and Europe won’t rebound to pre-COVID levels until 2023 at the earliest. The construction sector also faced many challenges due to COVID-19. Major economies across the world, such as Italy, Germany, the US, the UK, South Korea, Japan, and Spain are among the severely affected countries by the pandemic. supply chain disruptions, workforce dislocation and social distancing measures have led to the suspension of construction activities in most countries due to the disruptions in supply chains and shortage of raw materials and labor. However, the construction of temporary hospitals and quarantine centers increased with this outbreak of coronavirus.
Polyurethane Segment Dominate the Market in 2020
The Polyurethane segment made huge revenue in 2020 and growing its prominence during the forecast period. Polyurethane provides better adhesion, abrasion resistance and tint-ability. In the automotive industry, polyurethane adhesives are used in the repair of auto glass, manufacturing of vehicles, sealing of metal structures including trucks and containers, in the manufacturing and installation of air conditioning in HVAC systems, to scale back vibration and supply sealing in metal sheet joints. In emerging regions, polyurethane adhesives are mainly utilized in transportation and automotive applications, because the region leads in vehicle production globally. Most of the automobiles are being produced with rear windows and bonded windshields using polyurethane globally. Hence, the increasing demand from automotive and other applications in emerging regions is predicted to drive the polyurethane segment.
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period owing to the easy access to resources, rising domestic demand, and increasing income levels. Automotive industry is one of the major consumers of solvent based adhesives in the APAC region. The economic growth in this region, especially in the emerging markets such as India, Taiwan, Vietnam, Indonesia, Thailand, and Malaysia are contributing to the growth in the number of infrastructure projects, which is expected to drive the demand for solvent based adhesives in the building and construction industry in the region.
List of the Key Players Profiled in the Market Include:
• 3M Company
• Alfa International Corporation
• Ashland Inc
• Avery Dennison Corp
• Everad Adhesives SAS
• Franklin International
• H.B. Fuller
• Henkel AG
• Huntsman Corporation
• Illinois Tool Works Inc
• Jowat AG
• Sika AG
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127614/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001