Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"The Global High-Performance Adhesives Market is anticipated to Expand at a Compound Annual Growth Rate (CAGR) of 5.9% to reach a Market Value of US$ 16.7 Bn by 2028."
The market for High-performance adhesives is exponentially growing because of its excellent physical and mechanical characteristics enabling them for usage in high-end applications such as aerospace and medical industries. It has a substantial demand from the aerospace and medical sectors are boosting the market share of high-performance adhesives. End-user industry segments are projected to gain a high growth rate during the forecast period.
Increase in market demand of high-performance adhesives for automation in the electronics industry has increased their usage in the development of the major market of technology with enhanced properties, that includes low cure time, extreme temperature tolerance, with strong adhesion, greater chemical resistance, elasticity, durability, and superior moisture resistance are the driving factors in market share of high-performance adhesives.
High-performance adhesives have unique properties that include high elasticity, high tensile strength, high weather resistance, high durability, low curing time, and improved moisture resistance. These quality offerings are driving the growth of high-performance adhesives market for critical and complex end-use applications. Additionally, the market also caters to a wide variety of industries.
Significant contribution has been made by high-performance adhesives especially in the industrial, electronic, medical, strong bonding among the plastic, glass, ceramic materials, etc. By the usage of high-performance adhesives, the materials get adhered together with less cure time and fast processing time that is driving this market for usage among various substrates. These adhesives have consistency in its durability and performance along with a long shelf life period encouraging it to be applied in various industries.
Transportation Segment to Dominate the Growth in its Market Share:
High-performance adhesives are mostly demanded by the automobile manufacturing industry and are projected to maintain its market growth at a constant rate during 2019-2028. The key driver is an enhanced usage of high-performance adhesives is its ability to bond multi-material substrates. The light vehicles (LVs) segment is anticipated to grow in the usage of adhesives in the automobile industry.
Most of the automobile manufacturers are increasingly adopting the lightweight materials into their vehicles for adhering materials with a need to reduce the weight of a vehicle and improve performance and to address government policies, such as CAFÉ Standards. Such properties are pushing demand for multi-materials including aluminum and composites in the automotive industry that is attributing to high-performance adhesive market growth.
Asia-Pacific is leading in the Consumption of High-Performance Adhesive Market:
Among the countries of Asia Pacific, the market for high-performance adhesives is projected to grow at an exponential rate during the forecast period. It is due to the reason such as growth in the purchasing power of customers in the automobile industry etc., in the countries including China, India, and Indonesia among others. Customers in this region are shifting towards utilizing luxury offerings that have good usage of high-performance adhesives. The region has substantial liberal policies in the industry of automobile that contributes to the growth of high-performance adhesives consumption rate.
There are regulations that are not only binding to the automobile industry but also they have a significant impact on controlling the environmental pollutants globally by high performance adhesives. This region has substantial opportunities present for the new establishments that are about to manufacture high-performance adhesives. Such factors are contributing to the surge of market growth of high-performance adhesives consumption across the region. Increase in the demand for high-performance adhesives consumption is observed in this region because of an increase of cross border trade among the countries in satisfying the market demand various manufacturing companies of different industries.
The market for high-performance adhesives is lucrative hence there are abundant opportunities available for the organizations manufacturing high-performance adhesives. The market has low penetration because of the high prices associated with the high-performance adhesives.
The prominent players in the high-performance adhesives market are listed as follows, as such as Henkel AG & Co. KGaA, The 3M Company, Bostik, H.B. Fuller Company, Illinois Tool Works Inc., Ashland Inc., Dymax Corporation, Pidilite Industries Limited, DELO Industrie Klebstoffe GmbH & Co. KGaA, and Avery Dennison Corporation.
Key segments of High performance Adhesives Market:
- Hot Melt
- North America
- Latin America
- Asia Pacific
- Middle East & Africa