Smart Adhesives Market to be Dominated by Building and Construction Industry During the Forecast Period
Scalable solutions in size and ease of deployment are prime factors
driving the growth of the Global Smart Adhesives Market in the forecast period
2024-2028.
According
to TechSci Research report, “Smart Adhesives Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028,” Global Smart Adhesives market is anticipated to register
a robust CAGR in the forecast period, 2024-2028. Newer technologies are
emerging within the category of smart adhesives, which have massive potential
to grow bigger. Innovation in the adhesives and sealant industry has been heard
so many times in the news, but the recent breakthrough in adhesives
technologies to advance industries that can unleash the attributes of these
engineered materials is commendable. These advancements are occurring at an
exponential rate, unraveling investment opportunities across various industries.
Bonding via smart adhesives is a viable technique
for binding a wide range of materials, and their applications cater to a broad
spectrum of industries. Smart Adhesives can be utilized to stick a multitude of
materials like metals, polymers, ceramics, cork, rubber, and amalgamation of
any of these materials. Smart Adhesives bonding has found applications in
various sectors, such as aeronautics, aerospace, electronics, etc. Product
longevity, pricing, and safety nowadays have become integral factors to
influencing consumer purchasing decisions, and hence, these factors are taken into
consideration while developing the product design and economics.
Various defects caused in polymers and commonly used
structural materials can lead to product failure and decrease their service
life, but smart adhesive joints have the potential to tackle such defects by
automatically repairing without the need for manual intervention. Although the
process of developing smart adhesive joints is under intense research, numerous
technological integrations in the final product have been tested and released
in the market. Microencapsulation and other modern approaches in smart
adhesives to obtain self-healing are capturing the attention of the market and are
likely to gain dominance over conventionally used adhesives in the forecast
period.
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The Global Smart
Adhesives Market is segmented based on Technology, Application, Region and
Competitive Landscape:
Based on Technology,
the market has been segmented into Water-Based, Hot-Melt, Solvent-Based, and Others.
Currently, the Hot-Melt segment has dominated the value-based market in 2022
and is anticipated to hold the largest share among other prevailing
technologies due to various benefits that are offered by hot wax adhesives
across a range of industries. The increment in sales for smart adhesives is evident
in the increasing demand for hot-melt, which is spurring the production of
smart adhesives using hot-melt adhesive technology. Elevation in demand for
other forms of industrial adhesive across several manufacturing and
distribution enterprises is witnessed in year 2022 and top line number are
major evidence for this massive surge.
Based on Application,
the market is divided into Building & Construction, Automotive &
Transportation, Packaging, and Others. Building and Construction is likely to hold
the largest market share in the forecast period owing to the exponential growth
in the capex investment for construction projects. Sustainable packaging
products have seen skyrocketed growth due to lower product costs to consumers
and better-quality packaging solutions resulting in significant growth of the Global
Smart Adhesives Market.
Major
companies operating in the global smart adhesives market are:
- Arkema Group
- The Dow Chemical
Company
- Mapei Construction
Chemicals LLC
- 3M Company
- H.B. Fuller Company
- Henkel AG & Co.
KGaA
- Sika Group
- Huntsman
International LLC
- Akzo Nobel N.V.
- Delo Industrie
Klebstoffe GmbH & Co. KGaA
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The
building and construction industry might have realized a setback due to
COVID-19 and the ongoing Russia-Ukraine conflict, but a recent surge in demand
for construction projects is ramping up the growth of the overall industry. According
to TechSci Research estimates, analysts are upbeat about the growth of the Global
Smart Adhesives Market, especially in the APAC region, which is likely to dominate
the market among other regions. Regression analysis through an In-House
time series model for demand forecasting acknowledges China to be the major market
shareholder in Global Smart Adhesives Market. Other regions which shall
increase their market share in the upcoming years consist of India, Indonesia,
and Vietnam.
“Building
and construction Industry has immensely contributed to the growth of the
market. Construction investments have recorded a huge growth rate in the past
decade and a similar pace is expected in the forecast period because of the
government’s objective to encourage spending on roads, railways, and urban
infrastructure. Moreover, Global Smart Adhesive Market has reflected healthy
growth in the packaging segment.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Smart Adhesives Market- Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Technology (Water-Based,
Hot-Melt, Solvent-Based, Others), By Application (Building & Construction,
Automotive & Transportation, Packaging, Others), By Region,” has
evaluated the future growth potential of Global Smart Adhesives Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global smart adhesives market.”
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