Mirror Adhesive Market Forecast and CAGR
According to the latest research by Fact.MR, the mirror adhesive market is set to witness steady growth during 2021-2031. Demand for adhesives will witness steady recovery in the short term, with an optimistic growth outlook in the long run. They have huge demand during the forecast period as the real estate sector is reviving fast after the economic slowdown due to the covid-19 pandemic.
An increase in housing finance companies providing home loans at low-interest rates is booming the sales. Affordable Housing schemes demand is increasing as nuclear families are increasing which leads to an increase in demand for mirrors and their adhesives. Owing to this reason, the market is anticipated to grow at moderate CAGR.
What is Driving Demand for Mirror Adhesive?
Mirror adhesive has various applications like superior adhesion water-resistant and various other applications. Evolving end-user demand for mirror continues to drive the demand for adhesives. Builders & construction companies continue to be a lucrative avenue for the manufacturers. Increasing demand for mirror due to various features help the mirror manufacturing industry to grow, in turn driving the demand for these adhesives.
Sales of adhesives go through a cyclical boom-and-bust, which has remained a longstanding challenge for manufacturers. The fluctuation has meant that many manufacturers are often caught off-guard for capacity utilization and expansion.
Raw materials demand is expected to be moderate throughout the forecast period. The demand and supply chain will grow and drive the demand for them during the forecast period.
Further, a majority of the developing economies are undergoing urbanization, numerous construction activities are being undertaken. This in turn drives the sales of residential properties, home décor accessories and furniture in the process. Owing to this rise in demand for such consumer goods, mirror adhesives demand is also anticipated to rise throughout the forecast era.
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Impact of Covid-19 on Mirror Adhesive?
Pandemic like covid-19 is unforeseen and uncontrollable so as the pandemic ends the industries are expected to show a V-shaped recovery during the forecast period. Health crises are a major setback for everyone. Adhesive sales are expected to grow during the forecast period.
Covid-19 caused a major problem for the profitability of organizations as social distancing norms were introduced and a complete workforce was not able to work. An increase in debtor days was a new normal during the pandemic days. The Supply chain will be back to normal as the demand will increase when the economy opens again after the pandemic. The Demand for these adhesives will rise in the medium term as everything gets back to normal.
Construction Sector Likely to Augment Mirror Adhesive Sales.
The Construction sector is increasing rapidly as the demand for houses and commercial buildings are increasing rapidly. Mirror change the ambience of a building. The adhesive applied to the mirrors helps the mirrors to fix for the long term. Construction of corporate buildings also uses mirror adhesives and various other products.
The demand will further increase in developing countries. They have various advantages, one of them being adding additional life to the mirror and holding them in place, in various weather conditions. The Construction sector was the worst hit due to the pandemic as the labour shortage in projects and raw materials shortage was very common.
With the economy coming back to the track of various countries the demand is expected to rise and general expenditure of the public after vaccination would increase. Owing to this reason, the mirror adhesive market is said to experience steady growth during the forecast period.
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The US Mirror Adhesive Market Outlook
The US is one of the largest markets for adhesives globally. The US adhesives demand is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to remain muted in the next few years, as several end-use industries make a gradual recovery.
Demand for these adhesives in the US will be led by growth in the construction sector in the backdrop of various renovation activities being undertaken in the US. The US has a developed economy with a huge land area. Moreover, the demand for houses is increasing as real estate is booming in the US, owing to the foreign investments being made in real estate. The adhesives sales would grow further as housing sector demand boosts and is expected to create lucrative growth opportunities during the forecast period.
Who are the Key Manufacturers and Suppliers of Mirror Adhesive?
The mirror adhesive market is moderately fragmented. Some of the leading manufacturers and suppliers of the market include
- Bolton Group (Bison)
- Adshead Ratcliffe
- CR Laurence
- Hodgson Sealants
- PPG Industires
- Palmer Products Corporation
- H.B. Fuller and Henkel
Manufacturers are continuously expanding their business in different regions.
Manufactures and their collaborations with top real estate builders and other organizations are helping the industry to grow. Manufacturers are trying to innovate and modernize new materials which can give many different applications. New materials development and their applications would increase during the forecast period. Such initiatives adopted by the manufacturers help keep the market competitive and creates lucrative opportunities for growth in untapped markets.
An Adaptive Approach to Modern-day Research Needs
Mirror Adhesives 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
- Neutral Mirror Mastics
- Acid Mirror Mastics Reaction Resin
- Acrylic Mirror
- Traditionally Manufactured Mirror
By End-use Industry
By Sales Channel
- Retailers & Distributors
- Supermarkets & Hypermarkets
- Other Distribution Channels
- Direct Sales
- E-commerce 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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