The global adhesive market is likely to be worth $55.8 billion by 2025 from $34.3 billion in 2016, according to a new report from Transparency Market Research. This alludes to a compound annual growth rate (CAGR) of 5.6% between 2014 and 2025. By product, acrylic segment reportedly holds prominence in the market. Asia-Pacific stood dominant holding more than 30% of the market in 2016; the region is predicted to remain at the fore through the forecast period.
The global adhesive market is rising steadily due to several factors. Demand for adhesives across industrial sectors is primarily driving the market. At present, adhesives are extensively used in the manufacture of automobiles and aircraft due to their weight reduction and fuel efficiency benefits. As the demand for fuel efficiency and lighter structure becomes imperative, the demand for adhesives is predicted to grow.
In addition, worldwide, pressing regulations and government regulations to curb rising pollution levels are reportedly anticipated to boost the demand for fuel efficient vehicles, which in turn may provide impetus to the adhesive market.