Industrial Adhesives Market to Reach $53 Billion by 2021
The industrial adhesives market is expected to grow from approximately $41.5 billion in 2016 to $53.4 billion by 2021.
The industrial adhesives market is expected to grow from approximately $41.5 billion in 2016 to $53.4 billion by 2021 at a compound annual growth rate (CAGR) of 5.2% from 2016 to 2021, according to a recent report from Research and Markets. Factors such as growth in packaging, construction and woodworking, and transportation end-use industries, and technological advancements will drive growth.
The natural material base segment is the fastest-growing segment of the industrial adhesives market in terms of value. Natural adhesives are capable of being retained on the surface of any substance for a long period of time. Moreover, these bio-based adhesives are manufactured or extracted from organic resources and, thus, are considered as eco-friendly materials.