Russia Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Russia Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Russia Adhesives Market is projected to register a CAGR of 7.02%

Key Highlights

• Largest Segment by End User Industry - Packaging : In the Russian adhesives market, packaging is the dominant end-user industry owing to the wide range of adhesive applications, including labels, tapes, carton sealing and joining, and laminating.
• Fastest-growing Segment by End User Industry - Packaging : The packaging industry is forecast to be the fastest-growing end-user industrial segment of the Russian adhesives market, owing to the rising demand for paper and paperboard packaging and plastic packaging.
• Largest Segment by Technology - Water-borne : Water-borne technology, an environmentally friendly and economically viable solution, holds a major share in the market due to its well-recognized usage in food packaging applications through emulsion and dispersion systems.
• Largest Segment by Resin - Acrylic : Acrylic-based adhesives hold a major share in the Russian adhesives market owing to their pressure-sensitive applications in packaging, construction, and healthcare end-user industries.

Key Market TrendsPackaging is the largest segment by End User Industry.

• In Russia, polyurethane adhesives, acrylic adhesives, silicone adhesives, and epoxy adhesives are mostly available and are mainly procured across packaging, building and construction, automotive, healthcare, electronics, and other industries. Among all these resin-based adhesives, polyurethane holds the largest share of about 21.8%, followed by silicone, acrylic, and epoxy across the country.
• Russia is the eighth largest packaged food products market in the world, with 27.5 million ton of trade volume. The processing of potatoes and vegetables, along with increasing production of beverages (alcoholic and soft), will drive the packaging industry and result in increased demand for adhesives over the coming years. Recent import restrictions by several countries and the Russian government's Import Substitution policy are likely to expand opportunities for the packaging industry and simultaneously influence the adhesives market over the forecast period. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications.
• The President of Russia announced his decision to construct 13 new projects, ranging from education and healthcare to infrastructure development. He instructed the government to boost the country's economic growth over the world average by 2025. Such plans are expected to help the country attain sustainable growth and provide stimulus to construction activities during the forecast period. The new floor area, including residential and non-residential construction in the country, is expected to reach 2 billion square footage by 2028. Rising construction activities are expected to drive the demand for adhesives in Russia over the forecast period.

Competitive Landscape

The Russia Adhesives Market is fragmented, with the top five companies occupying 16.55%. The major players in this market are Arkema Group, Henkel AG & Co. KGaA, MAPEI S.p.A., RusTA LLC and Sika AG (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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