Future Market Insights has projected that the industrial adhesives market will grow to $78 billion by 2030.
The report says that the application of adhesives as viable substitutes for flanges, panels and other fastener settings supports the long-term growth.
Manufacturing and industrial facilities from numerous verticals require specialized adhesives for quality products and production. As a result, the demand for industrial adhesives has risen steadily in the past few years. However, the coronavirus pandemic has had a substantial impact on industrial activity on a global scale, generating a slight decline in demand during 2020.
In efforts to keep up with the requirements of the modern consumer's industrial adhesive, adhesive manufacturers around the world are employing a multi-pronged strategy including product development, collaborations towards bolstering distribution networks and capacity and geographic expansion endeavors.