Japan Adhesives Market is Projected to Reach USD 3.2 Billion by 2020

Japan adhesive industry has witnessed a shift in demand towards environmentally friendly products as a result of rising environmental consciousness. Japan has become a mature market for adhesives and is expected to grow at a relatively sluggish rate over the next six years.

A growing number of end-use applications have exhibited a marked shift from traditional mechanical fastener based technologies to adhesive based technologies, prominent among them being the automotive, mobile handheld electronic devices and medical sectors, which are expected to record faster growth than GDP growth over the coming few years.

The revenues of adhesives market in Japan is expected to notice a swift expansion especially during 2015-2020 for majority of the products, supported by surging growth of end user industries majorly automotive, plywood and construction industries.

“Focus on exports and product innovation, continuous efforts of the government to stir demand will push the industry towards the stage of inclination. High volatility in the prices of raw-materials for adhesives will act as major restraining factor for the growth of this industry in the future”, according to the Research Analyst, Ken Research