The global adhesives market is estimated to reach $105 billion by 2020 on the back of growing demand from the construction sector, according to a report.

The global adhesive market has been dominated by building and construction segment and it is expected that this segment will continue to dominate the market till 2020. Due to urbanization and growth in middle class population the market is dependent on construction segment which will boost the growth, said the Ken research report.

According to the report, “Adhesives Market Global Report 2017”, in 2016, with around 63 per cent of the market share, Asia was the largest region for adhesives market. With 24 per cent of market share, America holds the second position, followed by Europe with 10 per cent market share.
The global adhesive market is highly fragmented with a number of multinational players as well as regional players. The market is less capital intensive and competitive in nature. Automotive assembly, transportation, personal care, packaging, labelling and electronics are included as industrial customers in the market. 3M, Arkema, Dow, H.B. Fuller and Henkel are the leading vendors in global adhesive and sealants market, it said.

The use of eco-friendly products has been encouraged in the construction sector by manufacturers and end-users, which has led to a growth in demand for bio-adhesives. This trend has been noticed in automotive applications and pharmaceutical packaging also.

An increase in global adhesives mergers and acquisitions (M&A) is anticipated which will lead to growth in the market in future years, the report said.  – TradeArabia News Service