The adhesives market, despite being a niche, has always had a solid bond with finance – and now it’s reaping massive global profits.
According to Global Market Insights, the adhesives and sealants market size is set to exceed USD 50 billion globally by 2023, with construction, automotive and packaging proving to be the key factors in this prolific growth.
This is thanks, in part, to the creation of a strong infrastructure that looks unlikely to falter in the next decade. And although the marketplace is mainly dominated by large multinationals, smaller adhesive companies have been making great gains.
Adhesive brands like Tensor, owned by Quin Global, are just one company that’s made leaps and bounds thanks to the stability of the adhesive market which they helped build. This mid-sized company, which provides adhesives across the world, has cemented its presence online with a high-quality website, proving that a digital presence is just as important in adhesives as having the right contacts in construction.
Their influx of profits has also allowed them to expand their product line, creating a range diverse enough to include marine glue, foam and upholstery adhesives and sealants that are perfect for the construction industry. They’re a perfect example of an enterprise that’s been given a boost by the global profits of adhesives as a whole.
When it comes to the packaging industry, the improved fortunes of adhesives can only be seen as good news. An improvement in the financial stability of an industry inevitably leads to a wider range of products and, if you vie for the right company, a higher quality of services.
What’s more, it could create a buyer’s market for adhesives, not least where the environment is involved.
As the world grows more polluted (despite what politicians say to the contrary), the need for packaging to be economical has become vital. Not only has reducing your carbon footprint become a necessity for most companies, but it’s also a PR coup that can boost your business’s reputation.
The world of pulp and paper is already viewed by many as wasteful, not least when companies fail to offset carbon emissions or use harmful chemicals that will affect the environment. Around 70 per cent of people in the US believe that climate change exists, and they wouldn’t be happy consumers if they knew the adhesives you used were wasteful.
To return to the idea of a buyer’s market, the consumer can pressure larger companies to create a more ecologically sound product, knowing that these larger companies will have the funds to create said product.
So take advantage of an improvement in the fortunes of adhesives – let the market work for you.
Featured Image by Pixabay