Glues Market is Expected to Reach $74,028 Million by 2026

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OVERVIEW

Glues Market is expected to reach USD 74,028 million by the end of 2026.

Bizlytik analysts forecast the global Glues market to grow at a CAGR of 4.4% during the forecast period, according to their latest market research report.

Glue is used in the joining of materials or components that is primarily non-metallic, for ease-of-convenience and better performance of end-products. The glue products have superior stress-bearing abilities that help to bolster bonds between the joined parts.

The rapid product adoption in the construction industry and high product demand from the automotive sector to reduce vehicle weight and emissions are the influential primary factors that would bolster the prospects of market growth during the forecast period. The glue/adhesive products have replaced traditional practices of welding and bolt fastening methods in automotive vehicles owing to the high stiffness and durability of joined components, and as such have reduced the overall weight of automobiles, leading to low fuel emissions. Such factors would increase product adoption and demand in the coming years, further ensuring market growth.

Water-based, Solvent-based, Hot-melt and Reactive & Others are covered in the Type segment of the market scope, while the Application segment is categorized into Paper & Packaging, Building & Construction, Woodworking, Consumer/DIY, Automotive & Transportation, Leather & Footwear, Assembly, and Others. The report covers consumption volume of the global market by Application, with the volume expressed in K MT. The Type segment is calculated in terms of Production value and volume.

The volume of Paper & Packaging Consumption by Application is estimated to reach 6,972.8 K MT by 2026; growing at a CAGR of 6.7% during 2020-2026. The application of glue products has increased substantially owing to the rapid growth of the e-commerce and retail sectors in several countries, which would boost demand for products and ensure continued segment growth over the forecast period.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration while arriving at the global volume and value figures. While North America is further categorized into the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

Asia Pacific is a prominent region and holds a considerable market share in terms of overall consumption volume owing to the high product demand in the ever-expanding automobile and building & construction sectors, and extensive product use in emerging applications such as semiconductor processing and premium electronic goods industries.

The Glues market is moderately fragmented, with several global players vying with local vendors for substantial market share in terms of volume and value. New product launches after extensive research and expansion of business opportunities through strategic partnerships and mergers & acquisitions are the primarily followed business strategies of top players.

Henkel AG is one of the most significant companies of the Glues Market in terms of production volume, with Sika AG and 3M Company among many other vendors to hold substantial market share by volume and value.