Scalable solutions in size and ease of deployment are prime factors driving the growth of the Global Smart Adhesives Market in the forecast period 2024-2028. According to the TechSci Research report, “Smart Adhesives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the Global Smart Adhesives market is anticipated to register a robust CAGR in the forecast period, 2024-2028.
The Important Elements of the Smart Adhesives Market
Newer technologies are emerging within the category of smart adhesives, which have massive potential to grow bigger. Innovation in the adhesives and sealant industry has been heard so many times in the news, but the recent breakthrough in adhesives technologies to advance industries that can unleash the attributes of these engineered materials is commendable. These advancements are occurring at an exponential rate, unraveling investment opportunities across various industries.
Bonding via smart adhesives is a viable technique for binding a wide range of materials, and their applications cater to a broad spectrum of industries. Smart Adhesives can be utilized to stick a multitude of materials like metals, polymers, ceramics, cork, rubber, and amalgamation of any of these materials. Smart Adhesives bonding has found applications in various sectors, such as aeronautics, aerospace, electronics, etc. Product longevity, pricing, and safety nowadays have become integral factors to influencing consumer purchasing decisions, and hence, these factors are taken into consideration while developing product design and economics.
Various defects caused in polymers and commonly used structural materials can lead to product failure and decrease their service life, but smart adhesive joints have the potential to tackle such defects by automatically repairing without the need for manual intervention. Although the process of developing smart adhesive joints is under intense research, numerous technological integrations in the final product have been tested and released in the market. Microencapsulation and other modern approaches in smart adhesives to obtain self-healing are capturing the attention of the market and are likely to gain dominance over conventionally used adhesives in the forecast period.
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The Global Smart Adhesives Market is segmented based on Technology, Application, Region, and Competitive Landscape:
Based on Technology, the market has been segmented into Water-Based, Hot-Melt, Solvent-Based, and Others. Currently, the Hot-Melt segment has dominated the value-based market in 2022 and is anticipated to hold the largest share among other prevailing technologies due to various benefits that are offered by hot wax adhesives across a range of industries. The increment in sales for smart adhesives is evident in the increasing demand for hot melt, which is spurring the production of smart adhesives using hot-melt adhesive technology. Elevation in demand for other forms of industrial adhesive across several manufacturing and distribution enterprises is witnessed in the year 2022 and top-line numbers are major evidence for this massive surge.
Based on Application, the market is divided into Building & Construction, Automotive & Transportation, Packaging, and Others. Building and Construction are likely to hold the largest market share in the forecast period owing to the exponential growth in the capex investment for construction projects. Sustainable packaging products have seen skyrocketed growth due to lower product costs to consumers and better-quality packaging solutions resulting in significant growth in the Global Smart Adhesives Market.
Major companies operating in the global smart adhesives market are:
- Arkema Group
- The Dow Chemical Company
- Mapei Construction Chemicals LLC
- 3M Company
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Sika Group
- Huntsman International LLC
- Akzo Nobel N.V.
- Delo Industrie Klebstoffe GmbH & Co. KGaA
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The building and construction industry might have realized a setback due to COVID-19 and the ongoing Russia-Ukraine conflict, but a recent surge in demand for construction projects is ramping up the growth of the overall industry. According to TechSci Research estimates, analysts are upbeat about the growth of the Global Smart Adhesives Market, especially in the APAC region, which is likely to dominate the market among other regions. Regression analysis through an In-House time series model for demand forecasting acknowledges China to be the major market shareholder in Global Smart Adhesives Market. Other regions which shall increase their market share in the upcoming years consist of India, Indonesia, and Vietnam.
“Building and Construction Industry has immensely contributed to the growth of the market. Construction investments have recorded a huge growth rate in the past decade and a similar pace is expected in the forecast period because of the government’s objective to encourage spending on roads, railways, and urban infrastructure. Moreover, Global Smart Adhesive Market has reflected healthy growth in the packaging segment.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Smart Adhesives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Technology (Water-Based, Hot-Melt, Solvent-Based, Others), By Application (Building & Construction, Automotive & Transportation, Packaging, Others), By Region,” has evaluated the future growth potential of Global Smart Adhesives Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global smart adhesives market.”
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