Global High-Performance Adhesives Market To Reach Over USD 39.58 Billion By 2028

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High-Performance Adhesives Market

High-Performance Adhesives Market- Trends, Demand, Growth, Value & Analysis Report by Zion market Research

The global high-performance adhesives market was worth around USD 30.42 billion in 2021 and is estimated to grow to about USD 39.58 billion by 2028” - Prakash ToraseSUITE N202, NEW YORK, UNITED STATES, January 13, 2023 /einpresswire.com / -- The global high-performance adhesives market was worth around USD 30.42 billion in 2021 and is estimated to grow to about USD 39.58 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.5 percent over the forecast period. The report covers key drivers, restraints, and challenges for the high-performance adhesives market and their effect on the demands during the forecast period. Additionally, the report explores potential opportunities in the high-performance adhesives market's .

High-performance adhesives are used to create binding bonds between polypropylene, polyethylene, plastics, and polyolefin blends with other materials like PMMA, nylons, polyesters, rigid polystyrene, and ABS. These bonds are used to create structures ranging from medical equipment to heavy machinery. The global high-performance adhesives market is taking over other forms of assembly markets because of their excellent properties like the ability to resist flex & vibration, supreme cohesive strength, ability to create strong bonds between a wide array of substrates, protection from corrosion, and uniform distribution of stress through the entire structure.

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Covid-19 restrictions laid down as precautionary measures disrupted the supply chain of raw materials but the demand for high-performance adhesives increased during this period because of the rising need for medical equipment. Once the manufacturing units opened up, the supply and demand gap was filled quickly and the global market is expected to register a steady growth during the forecast period.

Robust investments by private global market leaders and governments in healthcare and infrastructure development owing to the need of the hour are expected to propel the global market growth. There has been a significant rise in the aeronautical industry in the last couple of years and the industry is expected to grow significantly in the coming years. This has led to a simultaneous increase in the demand for high-performance adhesives given their excellent bonding qualities. Along with this, the governments and international healthcare agencies are gearing up for the next pandemic or mass-spreading diseases by preparing medical equipment in advance to avoid any shortage in the future. This is anticipated to assist the global high-performance adhesives market growth during the forecast period. An increasing number of medical cases across the globe is also expected to contribute to the growth of the global market.

Global High-Performance Adhesives Market

The changes in the cost of crude oil negatively affect the raw material prices, hence resulting in high pricing of the product. This is probable to hamper the global market expansion over the future years. Incompatibility with specific packaging applications is expected to pose a major challenge to global market growth.

The global high-performance adhesives market is categorized into resign type, technology, end-user, and region. Based on resin type, the market is fragmented into epoxy, polyurethane, acrylic, silicone, and others. The technology type segment of the market is bifurcated into solvent-based, hot-melt, water-based, and UV curable. The end-user segment is divided into transportation, packaging, healthcare, building & construction, electrical and & electronics, and others.

Asia-Pacific is expected to register the highest global high-performance adhesives market growth during the forecast period owing to increased expenditure on infrastructure development in regions like India, China, Japan, Singapore, etc. The region is known for its cost-effective and excellent quality bulk production of machine parts and medical equipment coupled with growing medical tourism and medical cases. This will further aid in the regional market growth.

The Middle East is also expected to generate high revenue in the regional market because of extensive investment in large-scale architectural expansion in countries like UAE, Abu Dhabi, etc. where heavy payloads are in extreme demand.

North America will be contributing significantly to the regional market because of extensive aeronautical advancement in the region.

Some of the major players operating in the global high-performance adhesives market include Bostik, Royal Adhesives & Sealants, Illinois Tool Works, Avery Dennison Corp, Pidilite Industries, Sika AG, Jowat SE, 3M, Ashland, and Wacker Chemie AG, Dow, Henkel AG & Co. KGaA.

Recent Developments

March 2022, Conagen, a biotechnology company, has announced the discovery of highly sought-after dependable hot melt adhesives built from high-performance polymers derived from natural and sustainable biomolecules.

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Global high-performance adhesives market is segmented as follows:

By Resin Type

Epoxy
Polyurethane
Acrylic
Silicone
Other Resin Types
By Technology

Solvent-based
Water-based
Hot-melt
UV Curable
By End User

Transportation
Packaging
Electrical and Electronics
Building and Construction
Healthcare
Other
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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