Appliance Adhesive Market Report Overview
- Request a Free Sample to learn more about this report
The global appliance adhesive market size is USD 1262.2 million in 2022 and is projected to touch USD 1828.2 million by 2028, exhibiting a CAGR of 6.4% during the forecast period.
The market is primarily driven by rising demand for adhesives and sealants from the building and construction sector as well as expansion in the appliance sector. Sales of automobiles equipped with comfort and safety features through electronic systems have been boosted by rising worldwide population levels and increases in per capita income. Such factors are expected to drive the appliance adhesive market growth in the coming years.
COVID-19 Impact: Disrupted Supply Chain Hampered Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with appliance adhesives experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic has temporarily slowed down supply chain and industrial activities, with a noticeable decline in year-over-year growth. However, as restrictions are eased after the crisis is over, use will increase due to economic recovery. The building industry has faced several difficulties as a result of the pandemic. The U.S., Germany, and the U.K. are three major economies that are among those most badly impacted by the pandemic.
LATEST TRENDS
"Increasing Investment in Product Development to Drive Market "
To meet the consumer demands, manufacturers have expanded their investments in product development with regard to industry-specific applications. Demand for electronics adhesives is growing as the global vehicle industry expands. This is due to applications in LED packaging, power electronic modules, anti-theft systems, engine status displays, and collision avoidance systems.
Appliance Adhesive Market Segmentation
- Request a Free Sample to learn more about this report
- By Type Analysis
By type, the market is segmented into RO Water Purifier, UV Water Purifier, and Others.
- By Application Analysis
Based on application, the market is classified into Apartments, Houses, and Others
DRIVING FACTORS
"Increasing Demand from Various Sector to Create Growth Opportunities"
There are many different industries that employ adhesives and sealants, including those that deal with food, building, packaging, furniture, automobiles, appliances, textiles, and airplanes. They have numerous uses in the medical, dental, and pharmaceutical industries and are utilized in the healthcare industry as well. At the moment, manufacturers are concentrating on making high-quality adhesives with contemporary technologies like nanotechnology. Additionally, they are making considerable investments in R&D while launching a number of projects to produce sustainable goods. For instance, bio-based or green adhesives that include significant amounts of environmentally friendly volatile organic compounds (VOCs) have recently been introduced to the market.
"Government Investment to Foster Market Expansion"
The demand for a variety of electrical and electronic gadgets, including tablets, smartphones, laptops, and others where adhesives and sealants are frequently utilized for bonding various components, has increased due to a rise in technological breakthroughs and R&D efforts. Adhesives and sealants are frequently used to patch gaps, holes, and seal joints in the building and construction industry, which has also seen significant expansion due to reasons like population growth, urbanization, and increased government investment. The market for adhesives and sealants has grown as a result of the increase in demand of these products in the building and construction industry.
RESTRAINING FACTORS
"High Cost of Installation to Hinder Market Expansion"
Manufacturers' top worries include issues like limitations and packing of new machinery, as well as issues like high installation costs related to product assembly.
Appliance Adhesive Market Regional Insights
- Request a Free Sample to learn more about this report
"Low Labor Cost to Flourish Market in Asia Pacific"
Asia Pacific is expected to have the largest appliance adhesive market share. This is ascribed to an increase in demand for adhesive and sealant in packaging, electrical & electronics, building & construction, and other industries. Asia-Pacific is also a desirable market for manufacturers worldwide because of low labor costs, low startup costs for production facilities, and inexpensive prices for adhesives and sealants. These elements fuel the demand for adhesives and sealants in this area.
North America is expected to have a sizable market share. The significant aspect driving the market for electronic adhesives is the high requirement to manage precision and protection of electronic components in display and telecommunication equipment. The need for adhesives in this local market is anticipated to increase along with the demand for electronics in aerospace and military applications.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Innovative Technology Development to Grow in the Market"
To achieve consistent market growth, businesses are implementing various organic and inorganic strategies. To acquire a significant competitive advantage in the global market, corporations are implementing ways to improve their portfolios. The major players fund the product's development and research. The businesses also indulge in retaining a competitive edge in the marketplace. The leading players also strongly emphasize implementing various tactics to support market expansion. Businesses also use cutting-edge methods and procedures to develop new technology. To boost sales, players are concentrating on acquisitions and investments. Because there are so many large companies in the market, it is competitive.
List of Market Players Profiled
- 3M (U.S.)
- Dow (U.S.)
- Scapa Group (U.S.)
- H.B. Fuller (U.S.)
- Adhesives Research (U.S.)
- Henkel (Germany)
- Vancive Medical Technologies (U.S.)
- Lohmann (Germany)
- Elkem Silicones (China)
- Polymer Science, Inc. (U.S.)
- Adhezion Biomedical (U.S.)
REPORT COVERAGE
The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1262.2 Million in 2022 |
Market Size Value By |
US$ 1828.2 Million by 2028 |
Growth Rate |
CAGR of 6.4% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
-
What value is the appliance adhesive market expected to touch by 2028?
Based on our research, the appliance adhesive market is projected to touch USD 1828.2 million by 2028.
-
What CAGR is the appliance adhesive market expected to exhibit by 2028?
The appliance adhesive market is expected to exhibit a CAGR of 6.4% by 2028.
-
Which are the driving factors of the market?
increasing demand from various sectors and government investments are the factors driving the market.
-
Which are the top companies operating in the market?
3M, Dow, Scapa Group, H.B. Fuller, Adhesives Research, Henkel, Vancive Medical Technologies, Lohmann, Elkem Silicones, Polymer Science, Inc., Adhezion Biomedical are the top companies operating in the market.
