Rise in demand from the packaging sector and rise of the automotive industry in developing countries fuel the global industrial adhesives market. Asia-Pacific accounted for the highest market share in 2019, and is projected to maintain its lead position by 2027. Manufacturing activities of industrial adhesives have been hindered due to lockdown imposed by many countries. In addition, supply chain has been disrupted to curb the spread of coronavirus.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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According to the report published by Allied Market Research, the global industrial adhesives market generated $39.0 billion in 2019, and is projected to garner $54.9 billion by 2027, manifesting a CAGR of 6.3% from 2020 to 2027.
The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
The vinyl segment accounted for the highest share, holding more than one-third of the total market share in 2019, and is projected to maintain its leadership status throughout the forecast period. Moreover, this segment would witness the fastest CAGR of 6.6% from 2020 to 2027. The research also analyzes segments including polyurethane, epoxy, acrylic, and others.
The Industrial adhesives market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Asia-Pacific accounted for the highest market share in 2019, contributing to nearly half of the total market share, and is projected to maintain its lead position by 2027. In addition, this region is projected to witness the highest CAGR of 7.2% during the forecast period. The report also analyzes regions including North America, Europe, and LAMEA.
Industrial Adhesives Companies Covered Market:- 3M Company, Avery Dennison Corporation, Arkema S.A., Henkel AG & Co. KGaA, H.B. Fuller, Jowat SE, Parker Hannifin Corp, Wacker Chemie AG, Pidilite Industries Limited and Other.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Industrial adhesives market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Industrial adhesives market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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