PUBLISHER: Grand View Research | PRODUCT CODE: 1575061
PUBLISHER: Grand View Research | PRODUCT CODE: 1575061
The global appliance adhesive market size was estimated at USD 6.93 billion in 2023 and is expected to grow at a CAGR of 9.1% from 2024 to 2030. The market is being driven by a combination of factors, including consumer preferences, technological advancements, environmental concerns, and industry trends. Consumers are increasingly seeking appliances that are durable, long-lasting, and energy-efficient. The development of eco-friendly and sustainable adhesives is driving market growth.
Additionally, advancements in adhesive technology, such as innovative formulations and customized solutions, contribute to market growth. The expanding construction and renovation market, both residential and commercial, is also a significant driver for the market.
To cater to evolving consumer needs, manufacturers have increased their focus on developing adhesives tailored to specific industries. The global automotive sector's growth has spurred demand for electronics adhesives, which are used in various applications, including LED packaging, power electronics modules, anti-theft systems, engine status displays, and collision avoidance systems.
The rising demand for energy-efficient appliances is a major force behind the growth of the global market. As they become more conscious of environmental sustainability, consumers increasingly choose appliances that consume less energy. This trend will persist as governments worldwide implement stricter energy efficiency regulations.
Appliance adhesives play a crucial role in ensuring that appliances meet these energy efficiency standards. By sealing gaps and seams, these products prevent air and heat leakage, improving overall appliance efficiency and reducing energy consumption. Consequently, the increasing demand for energy-efficient appliances is a key factor driving the global market expansion.
Global Appliance Adhesive Market Report Segmentation
This report forecasts volume & revenue growth at the global, regional & country levels and provides an analysis of the latest industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the appliance adhesive market report on the basis of product, application, and region: