Adhesives market size set to surpass USD 64.7-bn by 2027

According to a new research report by Global Market Insights, the adhesives market size is set to surpass USD 64.7-billion by 2027.

27 Feb 2023 | By Rahul Kumar

Hotmelt is likely to witness a respectable CAGR of around 5.7% through the forthcoming time period

Consistent developments in the automotive sector are predicted to drive global UV adhesives market progress.  UV glue is extensively used in electronic components and other glass bonding applications in this industry. China, one of the world’s top automobile manufacturers, witnessed a surge of 23.1% in the annual sales of passenger vehicles in 2021. Also, over 9.54 million passenger vehicles developed by Chinese brands were sold in 2020, as per the China Association of Automobile Manufacturers.

Rising consumer preference for home interiors and carpeting, and increasing use of silicone sealants in construction and automotive would also foster the industry share. 

The global adhesives and sealant market are bifurcated into various segments with the adhesives market segmented in terms of technology, product, application, and regional landscape.

With respect to technology, the global adhesives market is classified into hotmelt, reactive, solvent-based, and water-based. Among these, the solvent-based segment is anticipated to witness a CAGR of more than 3% over the forecasted time period. Hotmelt technology segment is likely to witness a respectable CAGR of around 5.7% through the forthcoming time period.

Based on product, the market for adhesives is categorised into EVA, epoxy, styrenic block, polyurethane, PVA, and acrylic. Among these, the PVA adhesive segments market volume is expected to be around 3650 tonnes over the forecasted time period.

Meanwhile, the market volume estimates of styrenic segment are anticipated to be more than 2.6% CAGR over the projected time period. The epoxy adhesive market revenue evaluations are expected to be about 2.7% CAGR through the forthcoming time period.

Find out more at Global Market Insights.