Fast Growth Expected for High-Performance Adhesives
The growing demand for superior adhesives in critical and complex applications is expected to fuel the growth of the high-performance adhesives market.
The high-performance adhesives market is projected to grow from $9.77 billion in 2017 to $13.17 billion by 2022, at a compound annual growth rate (CAGR) of 6.15% between 2017 and 2022. The growing demand for superior adhesives in critical and complex applications from end-use industries, such as transportation, medical and construction, is expected to fuel the growth of the high-performance adhesives market, while stringent regulations by regulatory bodies are expected to restrain the manufacturing of solvent-based high-performance adhesives globally.
The medical segment is expected to be the fastest-growing application segment of the high-performance adhesives market during the forecast period. The increasing aging population and advancements in medical device manufacturing is expected to continue to fuel the use of UV-curable and cyanoacrylic high-performance adhesives in medical devices, including IV delivery systems, catheters, syringes, hearing aids, and silicone rubber components, among others. Such developments and advancements are predicted to propel the growth of the high-performance adhesives market.
The Asia Pacific region is reportedly the largest market for high-performance adhesives and is expected to witness the highest growth during the forecast period. High economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and global shift of production facilities from developed markets to emerging markets are some of the key factors driving the high-performance adhesives market in Asia Pacific.
For more information, visit www.reportlinker.com.