Chicago, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The Global Bookbinding Materials Market is projected to grow from USD 8.5 billion in 2023 and is projected to reach USD 9.5 billion by 2028, at a CAGR of 2.3 %, between 2023 and 2028 period, as per the recent study by MarketsandMarkets™. Asia Pacific is the largest bookbinding materials market that is projected to register a CAGR of 2.5% during the forecasted period, in terms of value. Asia pacific is projected to register the highest CAGR during the forecast period. The growth in Asia pacific is due to the growing education sector and rising demand for printed media.
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Browse in-depth TOC on "Bookbinding Materials Market”.
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List of Key Players in Personal Bookbinding Materials Market:
- Henkel AG (Germany)
- H.B. Fuller (US)
- Arkema (US)
- The Dow Chemical Company (US)
- UPM Global (Finland)
Drivers, Opportunities and Challenges in Bookbinding Materials Market:
- Drivers: Growing demand for physical books
- Restraint: Availability of online resource for educational purpose
- Opportunity: Growing Publishing and education sector
- Challenge: Volatility in raw material prices
Key Findings of the Study:
- Education books by application segment is expected to account for the second largest share of the bookbinding materials market during the forecasted period.
- Paper cover Materials, by materials type segment hold the largest growing segment in overall bookbinding materials market during forecast period.
- The Asia Pacific region is likely to be the fastest growing bookbinding materials market during the forecast period.
In the Asia-Pacific region, bookbinding material market is influenced by several key driving factors. Foremost, the region's burgeoning publishing industry, fueled by the increasing literacy rates and growing demand for printed materials, propels the need for high-quality bookbinding materials to produce durable and visually appealing publications. Additionally, the expanding education sector, characterized by the rise in educational institutions and the emphasis on quality educational materials, drives the consumption of bookbinding materials for textbooks, workbooks, and other learning resources. Furthermore, the rapid growth of the manufacturing sector in the Asia-Pacific region, especially in sectors such as electronics, textiles, and packaging, increases the demand for specialized adhesives, coatings, and binding materials, further contributing to the growth of the bookbinding materials market.
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Asia Pacific accounted for a largest share of the overall bookbinding materials market, in terms value, in 2022. the region's substantial population, coupled with the rising literacy rates and growing educational infrastructure, has led to an augmented demand for books, magazines, and educational materials. This has consequently fueled the need for high-quality bookbinding materials to cater to the expanding publishing and educational sectors. Additionally, the rapid industrialization and robust economic growth in countries like China, India, Japan, and South Korea have stimulated the demand for various printed materials, including packaging, textiles, and electronics, driving the consumption of specialized adhesives, coatings, and paper in the bookbinding process.
Bookbinding materials market are segmented by binding type: Adhesive Bonded and Mechanically Bonded. Adhesive bonded accounts the largest market share of bookbinding adhesives market. the method's cost-effectiveness and efficiency in production makes the adhesives bonded a preferred choice for publishers and manufacturers in the region aiming for high-volume output and streamlined production processes. Moreover, the adhesive bonded binding technique allows for a clean and seamless appearance, meeting the growing demand for visually appealing and professionally finished publications in the Asia-Pacific market.
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Bookbinding materials market are segmented by application: Education Books, Hardcover and Softcover Books, Magazines and Catalogs, Diploma Covers and Yearbooks, Journals , and Others. Magazines and Catalogs segment accounts for the largest market share of bookbinding materials market. The driving factors behind the bookbinding materials in these applications are durability and visual appeal. High-quality bookbinding materials play a crucial role in ensuring the durability, aesthetic appeal, and overall longevity of the final product. Factors such as the need for durable adhesives, sturdy cover materials, and resilient binding techniques are imperative for producing publications that can withstand frequent use and handling, especially in the case of heavily circulated materials like textbooks and reference guides.
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