Aromatic Solvents Market Share, Volume and Value Estimations up to 2030

The aromatic solvents market size was USD 5.80 billion in 2020 and is projected to reach 8.32 billion by 2027, at a CAGR of 2.70% during the forecast period (2021-2027).

Metal boding adhesives are the high-performance adhesives used to attach two metal surfaces. Such materials are used various industries, in order to create smooth bonds between two substrates. End use industries for the metal bonding adhesives include automotive & transportation, industrial equipment, and consumer appliances. The global Aromatic Solvents Market Share is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among the aforementioned regions, Asia Pacific holds a major share of the global market and is expected to retain its dominance over the forecast period, owing to the increasing consumption of epoxy and acrylic based adhesives in aerospace, automotive, industrial equipment, industrial and others. It is estimated that the automotive segment is set to observe the highest CAGR in the market due to growing replacement of metal joints, screws and fasteners by metal bonding adhesives. Epoxy based adhesives are witnessing high market share owing to superior bonding properties resulting into better crash resistance. Country wise, China and India are the leading passenger car vehicle producers.

The North America market is expected to grow at a stable CAGR due to extensive consumption of acrylic and epoxy based adhesives in automotive, marine, and aerospace. Owing to stringent Corporate Average Fuel Economy (CAFE) regulations, pertinent to fuel efficiency of the vehicle, North American automotive producers are more inclined to lightweight vehicles.

Country markets in Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of epoxy, polyurethanes and acrylic resins in automotive & transportation, industrial, equipment and energy sectors. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for alkyd, polyurethanes and epoxy resins in major industries.

 

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Segmentation

The global Aromatic Solvents Market Share is segmented into type, and application. By type, the market is further classified into acrylic, epoxy, polyurethane and others. By application, the market is bifurcated into automotive & transportation, industrial equipment, and consumer appliances.

Competitive Analysis

Some of the well-known players operating in the global Aromatic Solvents Market Share are Some of the prominent players operating in the global Aromatic Solvents Market Share are Henkel AG & Co KgaA, H. B. Fuller, The 3M Company, Sika AG, The Dow DuPont Inc., Arkema S.A., Solvay SA, Lord Corporation, DELO Industrie Klebstoffe GmbH & Co. KGaA, and and Parson Adhesives, Inc

 

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