Increasing Global Competition, Pricing Pressures Trending Upward in Adhesives Industry
The global market for adhesives and adhesive applying equipment is expected to total almost $48.7 billion and $62 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 5%.
The rising cost of oil and its effect on raw material prices is reportedly a key growth factor in the adhesives industry. A new report from BCC Research reveals that, although prices of oil and intermediate materials have risen sharply, prices of finished goods have not.