Rising usage of adhesives in Construction, packaging and other industries, Cost Effective Innovative Methods of Production to Support Market Growth
The Adhesives Market for Asia will continue to grow at a considerable pace in the next few years with addition of new players and innovative products. The market is predicted to grow at a CAGR of 7.8% from 2015-2020. Spurring investments, regulatory push and rising usage of adhesives will drive the growth of the industry in the future. The increased research and development expenditure aiming to explore the possibility of innovative adhesive products such as bio-based adhesives which are simple to use, environment friendly and cost-effective to drive the market growth in the future.
The market of adhesives market in India is predicted to grow at a CAGR of 5.7% during FY’2016-FY’2020. Greater usage of adhesives in different industries due to properties such as water resistant, heat resistant and others will continue to escalate the growth of adhesives in India. For China it has been estimated that the value of adhesives market in China is anticipated to grow at a CAGR of 8.8 % 2015-2020. The market for adhesives in Japan has entered matured stage and is expected to grow further at a CAGR of 4.1% during 2015-2020.
Furthermore, with new upcoming innovating adhesives, investment by government on chemical sector would further lead to rise in market revenue with a focus on effective environmental friendly adhesives being produced.
According to an industry veteran, “cutting edge developments in adhesives market discovery with continuous government support, the demand for adhesives ensuring efficiency and improved bonding would result in the market growth in upcoming future.”
“Booming construction, packaging and other industries in India, China, Korea and Japan, rising usage of adhesives and an increase in the personal disposable income will result in increased revenue on adhesives market in the Asia, while volatility in global product prices, enhancing competition and development of new and innovative adhesives are few of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.
The report titled “Asia Adhesives Market Outlook to 2020” provides detailed overview on the adhesives market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, adhesives manufacturers, wholesalers of adhesives, retail chains, new players venturing in the market and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.