Global Adhesives Market (2022 Edition): Analysis By Product, Technology, Application, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2022-2027)
Executive Summary
The global Adhesives market was valued at USD 45.32 billion in the year 2021 with the Asia Pacific region leading the regional market share. The market for adhesives is dominated by the paper, board, and packaging segment. End-user sectors such as food and drinks, cosmetics, consumer products, stationery, and other end-user industries have been driving demand for packaging. Online retail shopping is increasing at a higher rate with the rising internet technologies and web applications, which has largely supported the growth of the packaging industry.
The COVID-19 epidemic continued to have a substantial impact on the worldwide adhesive business, resulting in roughly double-digit declines in the quarterly financials of practically all of the world's leading adhesive manufacturers. The worldwide adhesives business was hit by a double whammy due to a demand decline from both construction and industrial activities, as well as an unusual slowdown in the automotive industry and the shutdown of several other consuming industries.
Over the next eight years, changes in material consumption patterns, with materials such as aluminium, metal, and paper being replaced by more durable materials, are expected to have a favourable impact on adhesives product demand in packaging applications.
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