Published on March 10, 2014
Industry analysts believe that global demand for medical adhesives and sealants is increasing due to the number of surgical interventions required to cater to the new-aging baby boomer population. Advances in technology are facilitating the growing number of niche applications for adhesives market. A research report said that Global Hygiene Adhesives market to grow at a CAGR of 8.35% over the period 2013-2018.
According to this research report, one of the key factors contributing to this market growth is the increasing focus on Research and Development by vendors. Market for Global Hygiene Adhesives has also been witnessing the increasing demand for hygiene products in the emerging markets. Industry sources said that the increasing raw material prices could pose a challenge to the growth of this market. Increased customer awareness for recyclable products is one of the important drivers for this industry as per industry analysts.
The global adhesive market is expected to witness moderate growth over the next five years. The Adhesive market is expected to recover during next five years and reach USD 220 million by 2019 with a CAGR of 8.8% during 2014-2019. Adhesives are used in aerospace, automotive, marine, construction, consumer goods, electrical, and many other industrial areas. Industry sources often say that the governments in different countries are taking strict action for the standardization of the adhesive products that emit lower or no volatile organic compound to the environment.
This industry is gaining momentum in domestic market and is expected to do well in near future as well, due to improved demand. A research report has published a finding regarding the demand of Adhesive from Wind industry; it said that demand for Adhesives in the wind energy industry will be strong due to wind power capacity additions in India and China. Conclusion of this report said that the growth of new wind turbine installations and increasing use of modular wind blades is anticipated to drive the demand for adhesives industry.
