Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Solvent-Based Adhesives Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
With a remarkable CAGR of 5.6%, the solvent-based adhesives market is projected to rise from $14.24 billion in 2023 to $15.04 billion in 2024. The report attributes this robust growth to the adhesives' compatibility with diverse substrates, swift drying properties, and their prevalent application across industrial segments.
The latest market research publication on the solvent-based adhesives industry has been added to our comprehensive collection of analytical reports. This report presents in-depth insights into the solvent-based adhesives market, emphasizing its anticipated global expansion, innovative product developments, and the growing demand from various sectors.
An overview of the solvent-based adhesives market reveals an upward trajectory, with the market expected to further swell to $18.47 billion by 2028. The forecasted growth is bolstered by industries such as automotive, construction, and renewable energy, all of which are increasingly reliant on the unique benefits provided by solvent-based adhesives like polyurethane and ethyl vinyl acetate (EVA).
Industry Developments and Innovations
- The automotive sector's shift toward lightweight vehicle manufacturing has substantially elevated the demand for solvent-based adhesives.
- Continued advancements in adhesive technologies, such as high-temperature resistance and hybrid adhesive formulations, are anticipated to present new opportunities for market growth.
- Recent product launches like the innovative Pearl Bond adhesive underscore the drive for improved performance and versatility in the industry.
Global Market Perspectives
The solvent-based adhesives market spans an array of applications, from paper and packaging to automotive assemblies. According to the report, Asia-Pacific dominated the market landscape in 2023, with North America following closely behind. The report further identifies key global market trends, shares by region, and insightful competitive analysis.
Regulatory Challenges and Market Dynamics
Strict safety and environmental regulations are acknowledged as key challenges that are influencing market dynamics. Enterprises are investing in safer production techniques to ensure compliance with these stringent standards.
Strategic Movements in the Industry
Recent strategic acquisitions, such as Celanese Corporation's takeover of DuPont de Nemours Inc., represent significant industry maneuvers that could reshape the competitive landscape.
The solvent-based adhesives market report reinforces the potential of this sector to adapt and thrive amid evolving industrial demands. Investors, stakeholders, and participants along the value chain can leverage the comprehensive data and forecasts provided in this report to make informed decisions and capitalize on emerging opportunities.
As the industry continues to innovate and align with global growths sectors, the solvent-based adhesives market stands as a testament to the enduring necessity of adhesive solutions worldwide. The full report's insightful analysis provides a forward-looking perspective on this critical industry.
A selection of companies mentioned in this report includes
- 3M Company
- Alfa International Corporation
- Arkema Group
- Ashland Inc.
- Avery Dennison Corporation
- Everad Adhesives SAS
- DuPont de Nemours Inc.
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Huntsman Corporation
- Jowat AG
- LORD Corporation
- Sika AG
- Bostik
- RPM International Inc.
- KCC Corporation
- Illinois Tool Works Inc.
- MAPEI SpA
- Akzo Nobel NV
- Permabond LLC
- Franklin International Inc.
- COIM Group
- Royal Adhesives & Sealants LLC
- Reynolds Industries Inc.
- Cattie Adhesives Solutions LLC
- AJ Adhesives Inc.
- Adhesives Research Inc.
- L.D. Davis Industries Inc.
- Mars Supply
- Ashland Global Holdings Inc.
- Beardow Adams Group
- Chemence Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bv4mzp
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