LONDON-(BUSINESS WIRE)-Technavio’s latest market research report on the global industrial adhesives market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global industrial adhesives market will grow at a CAGR of over 5% during the forecast period. The rising demand for industrial adhesives from the automobile industry is a major factor driving the market’s growth.
Application of industrial adhesives includes structural metal bonding, structural fiber reinforced plastic bonding, interior trim, exterior trim, and glass bonding in automotive applications. It is used during the production process to join the interior parts and eliminate some of the rivets and welds. Industrial adhesives help in reducing the weight of the vehicle, which, in turn, improves fuel economy. When vehicle weight is reduced by 10%, the fuel consumption comes down by 5%-7%. The increasing fuel prices and environmental concerns such as pollution have increased the manufacturing of fuel-efficient cars.
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In this report, Technavio highlights the rise in the number of R&D activities as one of the key emerging trends driving the global industrial adhesives market:
Rise in the number of R&D activities
In countries such as the US, Germany, the UK, and Canada, the technological innovations and improvisations of industrial adhesives are expected to drive market growth during the forecast period. Inspection of adhesive applications is conducted using 3D vision systems and cannot be performed by 2D vision systems. 2D machines or manual intervention can measure the footprint of adhesives. The 2D vision system fails to determine the volume of the glue or its features.
“Adhesive technologies are continually improvised as they prove to be crucial to the global reusable medical device market. Electrocardiograph, electrodes, grounding plates, and other devices are made from engineering resins such as polyphenylene sulfide, polyolefins, and metals such as aluminum, titanium, nickel, and stainless steel. Industrial adhesives are crucial in joining the components of these devices,” says a senior analyst at Technavio for research on additives, adhesives, and sealants.
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Global industrial adhesives market segmentation
This market research report segments the global industrial adhesives market into the following technologies (water-based, solvent-based, hot melt, and reactive), end-users (building and woodworking, packaging, transportation, and pressure-sensitive products), and key regions (the Americas, APAC, and EMEA).
The water-based technology segment held the largest market share in 2017, accounting for nearly 44% share. Water-based adhesives are less hazardous than solvent-based adhesives, which is one of the factors leading to its high usage. Similarly, these adhesives exhibit excellent resistance to humidity, ultra-violet (UV) rays, and discoloration. Majority of the water-based adhesives are resin emulsions, especially polyvinyl acetate (PVA) emulsion.
The building and woodworking end-user segment held the largest market share in 2017, accounting for nearly 33%. By 2022, this segment is expected to witness growth of nearly 1%. The fastest growing end-user segment is packaging.
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