Craft Glue Market Forecast and CAGR
According to the latest research by Fact.MR, the Craft Glue market is set to witness steady growth during 2021-2031. Demand for These glues will witness steady recovery in short term as expenditure on the education sector is increasing after the pandemic, with an optimistic growth outlook in the long run.
It is expected to grow at a moderate CAGR. Its sales are expected to increase as schools have started in offline mode again after the pandemic. It is used in schools for pasting a variety of materials on charts, paperboard, etc.
What is Driving Demand for Craft Glue?
It has a strong bond that helps stick different materials. Its strength depends on the raw materials used and their shelf life. This if left open in the air becomes hard and loses its sticking properties.
Innovation in materials used in this glue is increasing its applications in various sectors. Its demand is majorly generated from customers from different platforms. It is sold on both online and offline platforms. Sales of this glue increases during project seasons of students especially summer and winter vacations. Project-based learning is driving the demand for these glues.
Its demand is also increasing as it is used to adhere different foam craft sheets, fabrics, plastics, woods, cardboards together. Non-toxic craft glue demand is increasing as parents want to keep their children safe if they swallow by mistake. Owing to the above mentioned factors, sales is supposed to remain consistent throughout the forecast period.
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Covid-19 impact on Craft Glue Sales
The Covid-19 impact was very negative on this glue market as schools and colleges were closed. Its sales were down by more than 40% during the second quarter of 2020. Pandemic like covid-19 are unexpected and hamper the demand of many products not only craft glue.
Sales of this glue is further expected to rise in the short term as the pandemic ends. Schools have started opening as the pandemic ends, thereby its sales are expected to rise during the forecast period.
Education Sector Likely to Augment Craft Glue Sales
User-friendliness and easy to use application of craft glues in schools and colleges is increasing the demand for these glues. It is used in different parts of the world for its versatile applications in the education sector. Art and craft teaching in schools and colleges will lead to an increase in sales during the forecast period.
Its demand is increasing as decoration items are being made by people themselves at home. Education Sector would be the major sector to increase the demand for these glues during the forecast period.
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The US Craft Glue Market Outlook
The US is experiencing a strong demand outlook from many areas for these glues. The US has the best infrastructure and demand is likely to rise as project based learning in schools increases rapidly. The US has vaccinated most of the population and even masks are not necessary at many places in the U.S. which shows the economy has revived back to normal after the pandemic and schools are now opening back.
The United States has a big share in global sales, and this is driven by the corporate sector in the country. The United States has one of the biggest corporate sectors in the world and due to that, the use of these glues is high in the country. This is used in corporates to paste sheets, images, etc.
Owing to this reason, demand of these glues is anticipated to increase tremendously over the forecast period.
Asia Pacific Demand Outlook for Craft Glue Market
The Asia Pacific has many developing countries with a continuously improving supply chain and a lot of offline sales channels selling products everywhere in the country. Craft Glue is sold by both online and offline platforms in the Asia Pacific.
India is the fastest developing country in the Asia Pacific, the demand for these glue is increasing as the education sector expenditure by the government has increased. Growth in its demand for the homemade craft has increased tremendously due to its various advantages over its peers. Owing to this factor, the demand form the Asia Pacific countries are anticipated to grow at the alarming rate throughout the forecast period.
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Who are the Key Manufacturers and Suppliers of Craft Glue Market?
Some of the leading manufacturers and suppliers in the market include
Many leading manufacturers and suppliers have longstanding contracts with end-users which help the manufacturers and suppliers mutually.
Many top manufactures are expanding both organically and inorganically. The demand for these glues market will increase as the education sector is growing. Top manufacturers are collaborating with leading raw material manufacturers to make economical products.
For instance, Pidilite a major player has completed the acquisition of Huntsman Group’s Indian subsidiary to increase its product portfolio a few months ago. Such initiatives adopted by the players, enable it to remain competitive and improve its overall geographical reach.
Craft Glue Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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- Solvent Based
- and, other technologies
By Sales Channel
- Convenience Stores
- Retailers & Distributors
- Supermarkets & Hypermarkets
- Direct Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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