The industrial adhesives market is predicted to grow by $14.61 billion during 2020-2024, according to Technavio, a global market research firm. The report offers a detailed analysis of the impact of COVID-19 pandemic on the online tutoring services market in the U.S. in optimistic, probable, and pessimistic forecast scenarios.
This market is driven by industrial adhesives replacing mechanical fasteners. In addition, other factors — such as the rising adoption of eco-friendly adhesives — are expected to trigger the industrial adhesives market toward witnessing a CAGR of over 5% during the forecast period.
According to the new report, the industrial adhesives market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is still expected to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will likely go through response, recovery, and renewal phases.
Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Key considerations for the adhesive market forecast include:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
For more insights about the global trends impacting the future of the industrial adhesives market, request a free sample report from Technavio here.