Adhesives Global Market By Product Type, By Application, By Technology, By Sealant, By Region and Segment Forecast 2023-2032 | Sika AG, 3M Company, Arkema SA, H.B. Fuller, MAPEI

Adhesives Market

The Adhesives Global Market Report 2023 by The Business Research Company, provides adhesives market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Adhesives Global Market Report 2023, the market grew from $77.15 billion in 2022 to $83.99 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The adhesives market is expected to grow to $116.33 billion in 2027 at a CAGR of 8.5%.

During this historic period, technological development was a key driver of the global economy. Industries such as the adhesives industry, which involve technology, benefited from this trend.

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The adhesives market is segmented:

1) By Type: Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive & Other Adhesives

2) By Product Type: Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy, EVA, Other Product Types

3) By Application: Packaging, Construction, Laminates, Woodstock and Furnishing, Automobile, Footwear, Other Applications

Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller.

The adhesives market report table of contents includes: