Lux Research Identifies Four Key Global Megatrends Expected To Change The $ 50 Billion Adhesives Market
- 3d printing: Additive manufacturing of end pieces using new materials and combinations of materials, with changing design principles
- Circular economy: Demand for sustainability is changing product and packaging design to reduce resource consumption and plan for end of life
- Materials computing: Software-driven formulation development and material selection
- Industrial Internet of Things (IIoT): Smart devices and increasingly connected facilities are changing construction, repair and monitoring needs
“The adhesives market is a mature space, dominated by existing big brands selling into established industries, and for many years innovation in adhesives has been largely modest and incremental,” explains Antoine Vicari, analyst at Lux Research and lead author of the report. “While a number of startups and research groups have developed new solutions, adoption by major players remains slow. Today, however, these competing global megatrends are starting to bring new challenges that require deeper innovation in adhesives to tackle. “
The incumbent adhesive companies have continued to effectively deliver operational innovations, maintaining and updating a wide range of products in many markets as these markets develop and diversify. However, there have been few high-risk, higher-yielding expansive innovations that would transform the way adhesives are developed and used, how adhesive companies operate, and what business models make money. Many opportunities for adhesives in the coming years will require this type of deeper innovation, focused on the emerging needs and demands of specific customers and use cases. In a number of cases, this change will also have to go hand in hand with changes in the business model to seize the full potential of these expansion opportunities. Developers will need to explore services and solutions to stay ahead of the curve and maintain their margins and competitive advantage. Download the report summary to find out more.
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SOURCE Lux Research