Global Adhesive Market is Segmented By Type (Polyurethane, Epoxy, Acrylic, Silicone, EVA/PE, Polychloroprene, SBR, Butyl-based Adhesives, Others), By Technology ( Water-Based Adhesive, Solvent-Based Adhesive, Hot-Melt Adhesive, Others), By Component (One Component, Two-Component), By Usage (Potting Materials, Gap Filler, Strain Relief, Others), By Application (Building and Construction, Automotive, Electronics, Others), By End-User (Building and Construction, Automotive, Electronics, Packaging, Furniture, Industrial, Wind Energy, Aerospace), By Region (North America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Adhesive Market Overview
The global adhesive market is expected to grow at a high CAGR of 4.9% during the forecasting period (2023-2030).
Adhesive is a strong substance applied to one or both surfaces of two separate items that secures them together and resists their separation. There are many various types of adhesives available in the market, each for specific conditions & applications and there are numerous factors to consider when choosing the correct product.
The adhesive market has witnessed a sudden change with upcoming stringent regulations by the regulatory authorities that have compelled adhesive manufacturers to make sustainable products with low VOC levels. The shift toward adhesives derived from natural materials, which are sustainable and biodegradable, has brought new opportunities for manufacturers. The Asia-Pacific is expected to hold a significant share in the adhesive market. The growing automotive, construction and packaging sectors in the region are the major factors for the adhesive market growth. For instance, according to the China Association of Automobile Manufacturers' data, China sales stood at 2.02 million vehicles in June 2021. The country sold over 12.89 million vehicles between January and June, up 25.6% from the last year.
Adhesive Market Summary
|
Metrics |
Details |
|
CAGR |
4.9% |
|
Size Available for Years |
2021-2030 |
|
Forecast Period |
2023-2030 |
|
Data Availability |
Value (US$) |
|
Segments Covered |
Type, Technology, Component, Usage, Application, End-User, and Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
|
Largest Region |
Asia-Pacific |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
To Know More Insights - Download Sample
Adhesive Market Dynamics
Growing need from the construction sector
The construction industry is witnessing rapid technological & architectural innovation. Increasing applications in flexible architectural design and renovations of old buildings drive the adhesive market globally. Additionally, rising demand for adhesives in the manufacturing of bio-based plastic materials in the construction industry is also anticipated to foster demand over the forecast period. As builders look for desirable adhesive solutions for their remodeling and construction projects, several new industry product trends are emerging. Adhesives are critical tools for building projects and on the job site. Adhesives continue to see steady growth in various building and construction applications, including subfloor installation. A more efficient subfloor installation project has significantly higher yields, faster application and superior bond strength. The government investment in construction and infrastructure activities in emerging economies will also influence the market's growth. For instance, construction spending in the U.S during July 2021 was estimated at a seasonally adjusted annual rate of US$ 1,568.8 billion. The companies are launching new products to cater to the need of the booming construction industry. For instance, in 2021, Al Muqarram Group has made the latest addition to its product lineup - HVAC Contact adhesive - at Dubai's Big 5 construction expo. The new HVAC contact adhesive, specifically designed for phenolic and PIR ducts. In 2020, Toyochem Co., Ltd. has developed a new series of biodegradable pressure-sensitive adhesives. The newly developed polyurethane PSAs are suitable for construction and other industries where biodegradable materials are preferred.
Adhesive Market Segmentation Analysis
Water-Based Adhesive
The global water-based adhesive technology in adhesive market was valued at US$ XX million in 2020 and is estimated to grow at a CAGR of XX% over the forecast period to reach US$ XX million by 2028. Water-based adhesive is an environmentally friendly adhesive formulation technology. The adhesive forms a bond between two substrates after the formulation evaporates or is absorbed into the substrate, leaving the adhesive behind. The market share of water-based adhesives is growing significantly since the development has shifted towards more and more sustainable solutions that support health and safety and reduce environmental impact. Waterborne adhesives are a great alternative for solvent-based systems, as they do not contain VOC, are lighter in weight and necessitates less product for forming durable bonds. Water-based adhesives can be used on various substrates, including plastics, metallic films, paper, cardboard and natural and synthetic textiles. The adhesives are cost-effective to produce and easy to use. In most cases, it is easier to sustain a uniform consistency with a wet bond adhesive. The companies are launching various new products based on water-based adhesive technology. For instance, in 2021, H.B. Fuller has launched a new Swift tak 5730 water-based adhesives for the paper straw industry. The high-performance adhesives will help create liquid-resistant and consumer-safe paper straws even on fast-moving machines. According to the company, manufacturers are focusing on adopting high-performance adhesive, as global regulatory aims to ban single-use plastics. The European Union has also banned throwaway plastics such as cutlery, plates and straws in mid-2021. In 2020, Bostik has launched a new, innovative water-based adhesive, Aquagrip 3720, for automotive interior assembly applications. The product is perfect for bonding lower surface energy, rigid substrates to the closed-cell foam and foam-backed materials.
Adhesive Market Geographical Share
The Asia-Pacific adhesive market was valued at US$ XX million in 2020 and is projected to grow at a CAGR of XX% over the forecast period to reach US$ XX million by 2028.
The adhesives market will see substantial growth in applications, such as packaging, automotive, consumer electronics and construction. There are numerous reasons for the market growth, including technological advancements, growing population and overall purchasing power. The booming construction activities in countries such as China, India and other Asian countries have boosted adhesive sales. China is the largest construction market globally, with the industry projected to grow at an average of 5.2% between 2021 and 2029. The adhesive is utilized in roofing, flooring, HVAC, plumbing, doors and other numerous applications. Due to the lucrative opportunities, various leading companies have made significant investments in the region. for instance, in 2021, DuPont announced to invest approximately US$ 30 million to build a manufacturing facility in Zhangjiagang, Jiangsu Province, in East China. The new facility will provide adhesives to serve customers in the transportation industry, primarily supporting mega-industry trends. Henkel has announced a special adhesives Asia-Pacific innovation center in Shanghai in response to the surging demand for adhesives from the automotive and electronics industries. The company will invest US$77.58 million (500 million yuan) and the innovation center will be located in Zhangjiang Science City. The purpose of the innovation center will be to produce high-quality adhesives for consumers in the Asia-Pacific region and will hire over 400 experts and scientists.
Adhesive Manufacturers
Thes adhesive manufacturers are BASF SE, Sika AG, 3M, Dow, Avery-Dennison, H.B. Fuller, Advanced Adhesive Technologies Inc., MAPEI S.p.A., Bostik, Henkel AG, Parker Hannifin Corp, Huntsman, Ashland, ITW Performance Polymers and among others.
Why Purchase the Report?
- Visualize the composition of the adhesive market segmentation by product type, Technology, component, Application, End User, and region highlighting the key commercial assets and players.
- Identify commercial opportunities in adhesive market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of adhesive market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global adhesive market report would provide an access to an approx. 40+ market data table, 45+ figures and 180 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
