Adhesive Activator Market Forecast & CAGR
According to latest research, Adhesive Activator market is set to witness steady growth during 2021-2031 with CAGR of 5.5% to 6.0% between 2021 and 2031. Demand will witness moderate recovery in short-term, with optimistic growth outlook in the long-run.
The key driver stimulating growth is increased demand from automotive, construction, packaging, furniture, footwear, end use industries. Growing use of pressure-sensitive adhesive products is also a key demand driver. The worldwide automobile meters sector has seen a surge in sales of adhesive activators due to the growing popularity of lightweight passenger vehicles with better fuel efficiency and reduced emissions.
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What is Driving Demand for Adhesive Activator Market?
In the construction industry, it is mostly utilized in adhesives for tiling, fastening drywall, fixtures to walls, ceiling applications, bathroom flooring, and moulding. As a result, the construction industry’s fast growth, particularly in emerging nations like China and India, is likely to generate growth prospects in the near future.
The rise in demand for adhesives in the packaging business is mostly due to increased demand from the food and beverage sector, which is affected by rising disposable income. The need for adhesive activator will be driven by growth in the flexible packaging, paper & board packaging, and rigid packaging segments. The increased need for acrylic adhesive is also driving the demand for Adhesive Activator. In India, as the need for paper, board, and packaging grows, so does the need for acrylic-based adhesives. Acrylic demand is expected to rise in the predicted period as a result of this favorable growth. E-commerce, online food delivery, and packaging industry innovation and development have all contributed to the region’s rise in the packaging business.
Asia Pacific Adhesive Activator Market Outlook
Regional growth is expected to be fueled by rapid industrialization, significant GDP growth, and increased manufacturing production. Furthermore, favorable government regulations are likely to boost the building industry, which would help product penetration in the region.
China, India, and Japan were the key growth drivers in the Asia Pacific market. The automobile, industrial machinery, and electrical and electronics industries are expected to boost adhesive activator demand as the manufacturing sector expands. Due to technological transfer from western markets, China and India have seen an increase in car manufacturing in recent years.
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North America Demand Outlook for Adhesive Activator
North America was one of the largest regional segment. The existence of a significant number of end-use sectors, as well as increased construction investment in the United States, are driving demand for adhesive use, thus impacting the Adhesive Activator market positively.
Furthermore, the cost effective availability of fuel & raw materials in the form of shale gas, as well as various strategic efforts taken by firms like 3M, BASF, and Avery Denison, are projected to drive demand throughout the projection period. The need for automobiles, medical devices, engineering, and electronics is driving regional growth. Because of their increasing use in construction, paper, and packaging applications, the water-borne and reactive segment took the lead.
Who are the Key Manufacturers and Suppliers of Adhesive Activator Market?
Some of the leading manufacturers and suppliers include
- 3M
- Dymax
- Permabond
- Delo Adhesive
- Henkel
- Benson Polymer Ltd.
- HB Fuller
- Avery Dennison
- BASF
- Others
The worldwide sector is extremely fragmented, with medium and small businesses accounting for approximately 65 percent of market share. However, the industry is consolidating as a result of manufacturers’ strategic attempts, such as acquisitions, to acquire regional markets. Due to cutthroat price competition, this market suffers significant price competition. In addition, firms use growth as a key strategy to achieve a competitive edge and a considerable market share.
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