Wellesley, Mass., July 19, 2017 (GLOBE NEWSWIRE) --
The emergence of new market applications resulting from improved assembly processes and growth opportunities brought about by a shift from welding and mechanical fastening to adhesive bonding are driving demand in the global adhesives market, according to Adhesives and Adhesive Applying Equipment: Technologies and Global Markets.
BCC Research's June report also notes that foreign companies have increasingly invested in U.S. firms, globalizing and consolidating the industry. In 2010, the top 20 companies controlled more than 55% of the market. Meanwhile, Industrial consolidation has primarily affected the industrialized countries, where consolidation has absorbed adhesive formulators, customers and raw material suppliers. This industry is characterized as fragmented, but three large global players—Henkel AG, 3M and Dow Chemical—account for 60% of the total merchant demand.
Multinational companies in North America and Europe are developing nearly all the new technologies. Most of them are patented, and some are licensed to newer players in developing countries. However, the rate at which the industry is growing in these countries requires new companies to seek independent research and development.
Research Highlights
- The global adhesive and adhesive-applying equipment market should reach $74.5 billion by 2022 from $57.8 billion in 2017 at a 5.2% CAGR from 2017 to 2022.
- The greatest increase in market share occurred in structural adhesives (e.g., epoxies, PURs, cyanoacrylates).
- Measured by the value of product shipments, synthetics should continue to dominate the industry, particularly water-based products and hot-melt adhesives.
"One factor that controls industry growth is the increase in oil prices and the consequent increase in raw material prices," says Srinivasa Rajaram, BCC Research analyst. "Prices of oil and intermediate materials have risen sharply, but prices of finished goods have not increased to a significant level, thus leading to a high degree of uncertainty regarding higher inflation in the pipeline due to such a disparity."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.