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Turkey Adhesive Market - Industry Trends and Forecast to 2030

Chemical and Materials

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Turkey Adhesive Market - Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jun 2023
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Turkey Adhesive Market - Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 1,414.37 Million
Diagram Market Size (Forecast Year) USD 2,187.13 Million
Diagram CAGR %

Major Markets Players

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Turkey Adhesive Market, By Technology (Water-Based, Solvent-Based, Hot Melt, Reactive, and Others), Chemistry (Polyvinyl Acetate (PVA), EVA, Acrylics, Styrenic Block, Epoxy, Polyurethane, and Others), Substrate (Wood, Metal, Plastics, Composites, and Others), Application (Pressure Sensitive Applications (PSA), Construction, Automotive, Packaging, Furniture, Footwear, and Others), End-Use (B2C(Consumer Products), Glue Processors, and B2B) – Industry Trends and Forecast to 2030.

Turkey Adhesives Market Analysis and Size  

The use of adhesive products is increasing in several sectors, including construction, automotive, and energy production, which reduces the carbon footprint of many products and manufacturing processes. Regarding value, the major end-use sectors for adhesive products are building and construction, paper and board, industrial assembly, and transportation. At least half of the adhesive products are used in various industrial applications.

Data Bridge Market Research analyses that the adhesives market, which was USD  1,414.37 million in 2022, would rocket up to USD  2,187.13 million by 2030, and is expected to undergo a CAGR of 5.6% during the forecast period of 2023 to 2030. “Water-based” dominates the technology segment of the turkey adhesive market as they have minimum VOCs levels, resulting in environmentally friendly products. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, pipeline analysis, pricing analysis, and regulatory framework.

Turkey Adhesives Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Thousand, Volumes in Tons, Pricing in USD

Segments Covered

By Technology (Water-Based, Solvent-Based, Hot Melt, Reactive, and Others), Chemistry (Polyvinyl Acetate (PVA), EVA, Acrylics, Styrenic Block, Epoxy, Polyurethane, and Others), Substrate (Wood, Metal, Plastics, Composites, and Others), Application (Pressure Sensitive Applications (PSA), Construction, Automotive, Packaging, Furniture, Footwear, and Others), End-Use (B2C(Consumer Products), Glue Processors, and B2B)

Countries Covered

Turkey

Market Players Covered

Henkel AG & Co. KGaA (Germany), 3M (U.S.), Sika (Switzerland), Mitsubishi Chemical Corporation (Japan), AVERY DENNISON CORPORATION (U.S.), H.B. Fuller Company (U.S.), Akzo Nobel N.V. (Netherlands), Eastman Chemical Company (U.S.), DuPont (U.S.), Bostik (France), Akkim (Turkey), Ashland (U.S.), Beardow Adams (U.K.), BETA Kimya (Turkey), Frimpeks (Turkey), Jowat (Germany), MAPEI S.p.A. (Italy), Momentive (U.S.), Organik Kimya (Turkey), and RTC Chemical (Turkey)

Market Opportunities

  • Use of adhesive products across several end-use industrial verticals
  • Rise in spending on renovation and remodeling in the construction industry

Market Definition

Adhesives are made of gelatin, or other substances, such as epoxy, resin, or polyethylene, beneficial for various end-use industries/applications. It is a material usually available in a liquid or semi-liquid state that attaches items to achieve the bonding solution. It is mainly used as a bonding/ assembly solution for various materials such as wood, metals, and plastic, among others. It enabled the bond of two separate items and applied it on two different surfaces of items to bind them together. Adhesives are often incorporated across various industrial domains. Adhesives can be categorized according to their technology, chemistry, physical form, classification, or load-bearing capability. They provide the best bonding solutions for most materials, such as metals, ceramics, wood, and plastics.

Turkey Adhesives Market Dynamics

Drivers:

  1. Progressive use of adhesive products across several end-use industrial verticals

The use of adhesive products is increasing in many sectors, including construction, automotive, and energy production, which reduces the carbon footprint of many products and manufacturing processes. Regarding value, the major end-use industries for adhesive products are building and construction, paper and board, industrial assembly, and transportation. At least half of the adhesive products are used in various industrial applications.

  1. Growing demand for composite adhesives

 Composite adhesive delivers outstanding strength and performance. It has excellent energy absorption and fatigue properties for the durable bonding of composite parts and multi-material assemblies, including plastics, metals, and wood. Composite adhesive bonding helps in lowering cost and weight while increasing durability.

Restraints:

Opportunities

  1. Extensive R&D activities for fabrication of environment-friendly adhesive products: The rise in strict environmental regulations made by the European Chemicals Agency (ECHA), including REACH (Registration, Evaluation, and Authorization of Chemicals) compliance, leads to increased R& D activities among manufacturers to make environment friendly adhesive products. These regulations & compliance drive the market towards using renewable & sustainable resources, decreasing the dependence on fossil fuels, and mitigating global environmental issues. In the future, sustainable adhesive products are expected to rise in usage due to increasing regulations & compliance with the rise in R&D activities for developing sustainable products, recycling plastic waste, and controlling the degradation of sustainable plastic resources.

Challenges/Restraints

  1. Low shelf-life of adhesives application

 The shelf-life of adhesives is determined by the adhesive system and storage circumstances, particularly temperature. This chapter is broken into two sections to emphasize the effect of temperature on adhesive shelf life: Room Temperature Storage and Low-Temperature Storage. Solvent-based adhesives and most chemically reactive adhesives require additional storage precautions due to their flammability and potential health concerns.

This adhesives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market to gain more info on the adhesives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

  1. Increased raw material prices for adhesives

 Adhesives can broadly be divided into natural and synthetic adhesives based on raw materials. The most significant constituent in synthetic adhesive chemistry is a polymer, which dictates the adhesives' physical and mechanical properties to a large extent. Other ingredients used in adhesive manufacturing include methacrylic acids, which are used as auxiliary monomers. These chemicals are closely related to international crude oil prices. The unpredictability of natural oil price fluctuations significantly impacts economic stability. Crude oil prices fluctuate rapidly in response to news cycles, policy shifts, and market variations worldwide, resulting in the change in the raw material prices for adhesives.

Recent Development

  • In January 2021, Bostik invested around USD 11 million in a joint venture with Cartell Chemical Co. to strengthen its instant engineering adhesives business and also to accelerate the development and production of high value-added engineering adhesives.

Turkey Adhesives Market Scope

The adhesives market is segmented on the basis of technology, chemistry, substrate, application, and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

  • Water-Based
  • Solvent-Based
  • Hot Melt and Reactive
  • Others                          

Chemistry

  • Polyvinyl Acetate (PVA)
  • EVA
  • Acrylics
  • Styrenic Block
  • Epoxy
  • Polyurethane
  • Others

Substrate

  • Wood
  • Metal
  • Plastics
  • Others

Application

  • Pressure Sensitive Applications (PSA)
  • Construction
  • Automotive
  • Powertrain
  • Packaging
  • Furniture
  • Footwear
  • Others

End-Use

  • B2C (Consumer Products)
  • Glue Processors
  • B2B

Adhesives Market Regional Analysis/Insights

The adhesives market is analyzed, and market size insights and trends are provided by application and substrate and are referenced above. The country covered in the adhesives market report is Turkey.

Turkey adhesives market will dominate the market due to the growing manufacturing industries in the country.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Adhesives Industry Growth and New Technology Penetration

The adhesives market also provides detailed market analysis for every country's growth in the industry, installed new production set-ups, the impact of technology using lifeline curves, and changes in regulatory scenarios and their impact on the adhesives market. The data is available for the historic period 2015-2020.

Competitive Landscape and Adhesives Market Share Analysis

The adhesives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Turkey adhesives market.

Some of the major players operating in the adhesives market are:

  • Henkel AG & Co. KGaA (Germany)
  • 3M (U.S.)
  • Sika (Switzerland)
  • Mitsubishi Chemical Corporation (Japan)
  • AVERY DENNISON CORPORATION (U.S.)
  • H.B. Fuller Company (U.S.)
  • Akzo Nobel N.V. (Netherlands)
  • Eastman Chemical Company (U.S.)
  • DuPont (U.S.)
  • Bostik (France)
  • Akkim (Turkey)
  • Ashland (U.S.)
  • Beardow Adams (U.K.)
  • BETA Kimya (Turkey)
  • Frimpeks (Turkey)
  • Jowat (Germany)
  • MAPEI S.p.A. (Italy)
  • Momentive (U.S.)
  • Organik Kimya (Turkey)
  • RTC Chemical (Turkey)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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FREQUENTLY ASK QUESTIONS

The Turkey Adhesive Market is known to be worth USD 2,187.13 million by 2030.
The Growth Rate of Turkey Adhesive Market is 5.6 % by 2030.
The Progressive use of adhesive products across several end-use industrial verticals and Growing demand for composite adhesives are the growth drivers of the Turkey Adhesive Market.
The major players operating in the adhesives market are Henkel AG & Co. KGaA, 3M, Sika, Mitsubishi Chemical Corporation, AVERY DENNISON CORPORATION, H.B. Fuller Company, Akzo Nobel N.V., etc.
The technology, chemistry, substrate, application, and end-use industry are the factors on which the Turkey Adhesive Market is based.
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