Published on June 20, 2016
The global adhesives market has witnessed a high growth for the past few years and this expansion is likely to rise in the coming years. Global market for hot melt adhesives is estimated to be worth around USD5.45 billion as of 2015 and is likely to reach USD7.57 billion by 2021 at an overall CAGR of 5.6 percent.
The aging population and advances in medical procedures will continue to stimulate the expansion of the adhesives & sealants in drug-delivery systems, catheters, implants, and therapeutic devices.
Recently increasing penetration across insulation, facades, panel lamenting, flooring, lamination, and coating have generated high product demand, however, increasing regulatory intervention from environmental bodies along with federal agencies is a key challenge to the industry. These factors have prompted research and development initiatives to develop bio-based adhesives & sealants.
Presently adhesive industry is growing with a effective rate of knot and further added research and development initiatives to develop bio-based adhesives & sealants for customer attraction will attract more competitive advantage for the industry.
