According to a report, “High Performance Adhesives Market Size, Share & Trends Analysis Report By Product (Acrylic, Silicone), By Application (Construction, Medical), By Technology, By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc., The global high performance adhesives market is expected to value at 40.7 Billion to reach at a CAGR of 3.5% from 2020 to 2027. The rise in private and government spending in the construction sector throughout the globe is likely to influence the market growth in the forecast period. Moreover, the rise in end-use segments in healthcare is directly linked with the market development. High performance adhesives are widely used across construction and healthcare sectors for their features.
Growing investments in the healthcare sector for medical resources are likely to cause surge in the product demand. On a global scale, technological advancements are driving the industrial growth in the coming years. Moreover, rapid growth is observed in the additives and raw materials industry wherein there is a huge availability of manufacturing equipment. In addition, high consumption in the manufacturing industries is one of the major causes of demand.
Specifically, silicone high performance adhesives have gained a high attention owing to their resistive features and durability. Silicone products are widely used on the solvent based technology. On the other hand, acrylic adhesives have gained a high volume share attributing to features such as high strength, environmental resistance, and high bonding.
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The covid-19 pandemic entailed a lasting effect on the construction industry throughout the world. The early stages of precautionary measures to contain the pandemic included lockdown that bought the construction sector to a standstill. Currently, as economies are resuming under precautionary measures, business conditions in the construction sector are gradually restoring. With this, the supply chains are expected to return to normal in the due course of time and herein the demand for adhesives is expected to have a huge traction. Therefore, in the near future the market for high performance adhesives is expected to regain full potential in the near future.
Further Findings From The Report Suggest:
l Construction is the leading segment attributing to high dominance and growing investments on infrastructure
l Medical is the growing segment attributing to high revenue share and factors such as rise in healthcare infrastructure and growing demand for performance adhesives
l Middle-East is an emerging market for high adhesives product due to rapid consumption. The Middle-East market continues to reflect upon untapped potential and opportunities for future market growth
l Key players are entering into partnerships, agreements, and collaborations to expand their market share. In 2019, Sika AG acquired Crevo-Hengzin to expand their business in Asia Pacific
l H.B. Fuller
l Avery Dennison Corporation
l Henkel AG & Co
l Wacker Chemi AG
l Jowat SE
Construction dominated the market with a volume share of more than 39.0% in 2019. Rising infrastructure investments and increasing urbanization across the globe are the factors significantly propelling segment growth. Although the segment is likely to take a hit in the fiscal year 2020 due to an outbreak of COVID-19, it is likely to regain its momentum from 2021. Packaging is the second largest application of high performance adhesives. Increasing consumer disposable income and a fast-paced lifestyle have led to increasing demand for ready-to-eat packaged food products. This is likely to provide a lucrative opportunity for segment growth in the market for high performance adhesives over the coming years.
The medical segment is projected to witness the fastest revenue-based CAGR of 4.9% in the market for high performance adhesives from 2020 to 2027. Growing aging population, rise in cardiovascular diseases due to unhealthy lifestyle, and the possibility of another novel infectious disease pandemic like COVID-19 is expected to accelerate substantial investments by global governments and international institutions in healthcare sectors, thereby bolstering segment growth over the coming years.
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High Performance Adhesives Market Segmentation
Grand View Research has segmented the global high performance adhesives market on the basis of product, technology, application, and region:
High Performance Adhesives Product Outlook (Volume, Kilotons;Revenue, USD Million, 2016 – 2027)
High Performance Adhesives Technology Outlook (Volume, Kilotons;Revenue, USD Million, 2016 – 2027)
- Water based
- Solvent based
- Hot melt
- Reactive & others
High Performance Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Electrical & electronics
High Performance Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Central & South America
- Middle East & Africa
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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