The global powder adhesives market size is expected to showcase considerable growth backed by the increasing demand for adhesives from the automotive industry worldwide.
The drastic effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. The lockdown imposed by the government agencies has led to several industries facing halted industrial operations. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
We have segregated the market based on type, application, and region.
On the basis of type, the global market for powder adhesives is segmented into Soluble Powder Adhesive, Hot melt Powder Adhesive, and Others. Based on application, the market is categorized into Stones, Wall Tiles, Ceramics, Floor, and Others. Lastly, based on the region, the market is divided into Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa.
What does the Report Include?
The global market for powder adhesives report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Demand for Adhesives from Automotive Sector to Augment Growth
There are several applications of adhesives across the automotive sector. These consist of assembling glass, metals, rubber, plastics, and other materials. In addition to this, they help in lowering the overall vehicle weight, thus, improving fuel efficiency. Additionally, the increasing urbanization is propelling the demand for constructional activities that is likely to favor the global powder adhesives market growth in the forthcoming years.
Asia-Pacific to Remain at Forefront; Growing Demand from Paints & Coatings Industry to Aid Growth
Among the regions, Asia-Pacific is expected to remain dominant and hold the largest global powder adhesives market share in terms of revenue during the forecast period. This is attributable to the growing demand for adhesives from the paints and coatings industry in the region.
The market in North America is anticipated to showcase substantial growth during the forecast period. This is ascribable to factors such as the presence of end-user industries that are developing advanced powder adhesives products in the region between 2021 and 2028.
Merger and Acquisition by Major Companies to Intensify Industry
The global market for powder adhesives comprises small, medium, and large companies striving to maintain their presence by adopting several organic and inorganic strategies. The established players are focusing on acquiring other small companies to expand their product portfolio that will bide well for the growth of the market in the forthcoming years. For instance, in October 2020, Pidilite Industries Ltd. announced the acquisition of Huntsman Corporation’s India-based Consumer Adhesives Business. The acquisition is worth USD 285 million.
February 2020 – Henkel announced the completion of its new production facility for adhesives in Kurbhumb, India to cater to the growing demand in the country.
List of the Companies Profiled in the Global Market:
ATDM Co. Ltd.
Read Related News:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –