Natural And Water-Proofing Properties Expedites The Consumer Demand:
The clean label trend has revolutionized the modern industrial businesses thereby encouraging the manufacturing companies to use more natural and environment-friendly products. This trend has entered the high performance adhesives market which is considerably gaining a lot of demand form the end-users across the world. Besides the natural ingredient-based manufacturing if high performance adhesives (some of which also work on thermal bonding), some of the key players are incorporating water-proof properties in their products. This is largely helpful in roof construction, automotive, electrical appliances, and many others. Also, pressure sensitive labels and hot melt glue guns are hugely popular in recent times which is constantly pushing forth the business of the high performance adhesives market. Subsequently, the niche market growth scopes are uplifted with the introduction of organic materials and water-proofing properties in the high performance adhesives to enhance its suitability in industrial and household purposes worldwide.
The high performance adhesives market acquired a huge revenue in 2018. With a market size of over $9.1 billion this year, there is a prospect for growth opportunities in the forthcoming years. This is enabled by the huge application of adhesives in a lot of working sectors and manufacturing procedures worldwide. Moreover, the high performance adhesives market is anticipated to experience a 6% CAGR during the forecasted period of 2019-2025.
Transportation Impacting The High Performance Adhesive Market Growth:
The transportation industry is one of the fastest-growing segments across the world since other industries and commercial sectors are heavily dependent on its integrated supply chain network. Transportation modes such as trucks, rails, aircraft, ships, and others necessitate adhesives for assembling procedures and also during their manufacturing. Concurrently, the market analyst at IndustryARC estimates the application of high performance adhesives in the transportation industry will experience a CAGR of 5.5% through to 2025.
Additionally, cargo and product packaging and transport from one place to another require adhesive glue for tags, labels, and coating wraps. Also, the trucking transportation services acquired revenue of $700 billion in 2017 which also highlights the profit income of the high performance adhesive market. The Asia Pacific region is experiencing huge growth in the freight transportation section which significantly uplifts the domestic high performance adhesives market revenue. In the year 2016, China moved 6,108,010 million-ton kilometer freight; in 2017 India transported 2,435,870 million-ton kilometers goods, whereas in the same year Japan moved 210,829 million ton-kilometer products across road and rail. This signifies the need for high performance adhesives in the transporting process in this region which directly boosted the niche market growth. Accordingly, induced by an expanding transportation industry, the APAC contributed a major regional share of 36.3% to the global high performance adhesives market in the year 2018.
Major Players In The High Performance Adhesives Market:
Some of the well-known global leaders in the high performance adhesives market include 3M, Bostik, Illinois Tool Works, H.B. Fuller, Sika, Pidilite Industries, Henkel, Royal Adhesives & Sealants, Avery Dennison, and others.
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