Market Trends of Adhesives and Sealants Distribution Industry
This section covers the major market trends shaping the Adhesives & Sealants Distribution Market according to our research experts:
The Paper, Board, and Packaging Segment to Dominate the Market Demand
- The paper, board, and packaging segment is the largest consumer of the adhesives and sealants market. The packaging industry has been witnessing strong demand from end-user industries, such as food and beverages, cosmetics, consumer goods, stationery, and other end-user industries.
- Online retail shopping is increasing at a higher rate with rising internet technologies and web applications, which has largely supported the growth of the packaging industry.
- Moreover, the demand for cosmetics and food and beverage products is expected to grow due to the growing population and demand for quality products, urbanization, and consumers inclining toward technology, hence fueling the demand for the packaging industry.
- Asia-Pacific is expected to witness the strongest growth in the demand for packaging materials, due to the robust economic performance of the developing countries, promising robust market demand, and the growing population, whih is adding new demand to the market.
- Matured markets like Europe and North America are also expected to witness noticeable growth in their packaging industry due to the influence of the online retail business trends.
- Hence, with such robust growth of packaging industry across the world, the demand in the adhesives and sealants market is also expected to increase during the forecast period.
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Asia-Pacific to Dominate the Market
- Asia-Pacific region dominated the global market share of more than 40%. The increasing demand from industries, such as packaging, construction, electronics, and transportation.
- Industries such as food and beverage, cosmetics, and consumer goods are continuously seen innovating new products, increasing production, and resorting to attractive packaging materials in order to attract customers.
- Manufacturing companies have been shifting to flexible packaging, as it is lightweight and helps to facilitate selling products in different quantities without making much difference in packaging cost, as in the case of metal or glass packaging.
- This has been leading to robust growth in the demand for flexible packaging, which is further creating a noticeable demand for adhesives in packaging applications.
- The automotive industry has been switching to lightweight materials from heavy metals in order to reduce the weight of the vehicles. This has been facilitating the use of adhesives and sealants in the automotive industry.
- However, the slowdown in the automotive industry is, in turn, acting as a hindering factor to the market.
- On the brighter side, ASEAN Countries exhibited relatively positive growth in the production of vehicles in the region. Hence, all such trends in the automotive industry in the region is expected to add to the demand for adhesives and sealants in the region during the forecast period.
- Hence, such market trends are expected to drive the growth of the adhesives and sealants market in the region during the forecast period.
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