Urbanization Leads To Demand In Construction Market Which Drives The Plastic Adhesives Industry
Plastic Adhesives Global Market Report 2021: COVID-19 Growth And Change
The Business Research Company’s Plastic Adhesives Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, June 2, 2021 /EINPresswire.com/ -- Increasing demand for plastic adhesives from the construction sector coupled with the growth of the construction industry is anticipated to boost the demand for plastic adhesives market2 over the forecast period. In the construction sector, adhesives are used in adhesion of ceramic tiles, carpet laying, manufactured housing and prefabricated housing, fixing of vinyl or resilient flooring, pre-finished panels, fixing roof titles or systems, fixing floor or drywall lamination, and other applications. Economic growth and a rapidly growing urban population is expected to increase the demand for new residential and commercial buildings during the forecast period, thus increase the demand for adhesives. Large opportunities are expected to arise in Asian countries such as Indonesia, Vietnam and the Philippines which are becoming increasingly popular for export-oriented manufacturing. According to the World Bank, urban population in South Asia is expected to grow by 250 million by 2030. According to a report by PwC, around 60% of the world population is expected to live in cities by 2030. This rapid urbanization is expected to boost the demand for infrastructure and drive the adhesives market going forward.
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The global plastic adhesives market is expected to grow from $6.15 billion in 2020 to $6.69 billion in 2021 at a compound annual growth rate (CAGR) of 8.72%. The growth in the forecast period can be attributed to increase in demand for plastic adhesives from the building and construction industries and other end users, such as automobile industry. The plastic adhesives market is expected to reach $9.12 billion in 2025 at a CAGR of 8.06%.
Asia Pacific accounts for the largest plastic adhesives industry share globally. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the plastic adhesives market are H.B. Fuller Company, Henkel Corporation, 3M Company, Permabond LLC, Sika AG, DowDuPont, Parker Hannifin Corporation, Master Bond Inc., Huntsman International Llc., Arkema, Adhesive Research Inc., BASF SE, Bostik, Buhnen, Dowdupont, Hexion, Lord Corporation, Mapei Spa, and Pidilite Industry Ltd.
The global plastic adhesives market analysis report is segmented by resin type into epoxy, polyurethane, acrylic, silicone, MMA, cyanoacrylate, others, by technology into solvent-based, water-based, by end-user into automotive, building and construction, electrical and electronics, medical, packaging, others.
Plastic Adhesives Global Market Report 20213: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides plastic adhesives market overview, forecast plastic adhesives market size and growth for the whole market, plastic adhesives market segments, and geographies, plastic adhesives market trends, plastic adhesives market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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https://www.thebusinessresearchcompany.com/report/adhesives-market
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