Adhesives Market Value to Reach $53 Billion by 2022
On the basis of type, non-reactive adhesives segment reportedly dominated the overall adhesives market.
The global adhesives market is expected to reach $53,503 million by 2022 supported by a compound annual growth rate (CAGR) of 4.5% during the forecast period of 2017 to 2022, according to a recent publication by Meticulous Research™. This market is reportedly primarily driven by growing demand for consumer goods with rising urbanization and improving lifestyle; rising demand for hot-melt adhesives; and growing automotive industry with increasing demand for lightweight and low carbon emitted vehicles. Further, rising demand from emerging economies and growing need for eco-friendly, low-volatile-organic-compound (VOC), and green and sustainable adhesives offers significant opportunities for the growth of adhesives market during the forecast period.
On the basis of type, non-reactive adhesives segment reportedly dominated the overall adhesives market, and is also expected to grow at a faster CAGR during the forecast period, owing to the rising adoption of water-based adhesives and hot melt adhesives due to their lower VOCs and their wider application in many industries.b