Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 30.42 Billion | USD 39.58 Billion | 3.5% | 2021 |
FrequentlyAsked Questions
Over the next several years, the market is expected to grow at a rapid pace due to increased demand from the packaging industry and the growing automobiles segment, primarily in emerging markets. The market is expected to expand in the future due to rising packaging demands from various end-use industries such as pharmaceuticals, food & beverages, and cosmetics. Over the next several years, the product call is expected to be driven by the expansion of the e-commerce commodities call, in which packaging is a big element. Polyols, vinyl acetate monomer, toluene, diisocyanate, and other crude oil derivatives are widely employed in the production of industrial adhesive raw materials.
According to the Zion Market Research report, the global high-performance adhesives market was worth about 30.42 (USD billion) in 2021 and is predicted to grow to around 39.58 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 3.5 percent.
Asia Pacific is the most extensive and fastest-growing regional market for high-performance adhesives. The growing usage of these adhesives in the transportation, construction, and medical end-use industries is expected to provide new growth prospects for the market. Furthermore, due to increased technical & infrastructural improvements and customer awareness in the area, Asia-Pacific accounts for a considerable portion of the entire high-performance adhesives business. Research laboratories and manufacturers are collaborating to develop long-lasting, low-cost, high-performance adhesives and to improve the characteristics of these adhesives for end-user enterprises. Moreover, rapid economic growth, manufacturing business development, low-cost labor availability, expanding end-use markets
Some of the major players operating in the global high-performance adhesives market include Royal Adhesives & Sealants, Bostik, Illinois Tool Works, Pidilite Industries, Sika AG, Henkel AG & Co. KGaA, Dow, Jowat SE, 3M, Ashland, Avery Dennison Corp, and Wacker Chemie AG.
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