Industrial Adhesives Global Consumption to touch 30 billion lbs ($40bn) by 2020
Industry Experts has today announced release of the new market research report on Industrial Adhesives . The report discusses the global market for industrial adhesives product types and technologies. As per the report, global consumption for industrial adhesives is estimated at 21.3 billion lbs valued at US$26.7 billion and projected to reach about 30 billion lbs equated to US$40 billion growing by compounded annual growth rate (CAGR) of 5.1% and 6% respectively for volume and value for the period 2013-2020. Principal elements for the high rate of growth in the 100% reactive adhesive category include a recovery in the manufacturing sector and a trend towards production substitution in favor of higher value materials. The robust gains indicated for hot melt adhesives are characteristic of their responsiveness to rapid processing speeds, in addition to lack of volatile organic compound (VOC) emissions, which is of specific benefit in the packaging sector. While alternative formulations...