The global industrial adhesives market was valued at US$ 52.69 Bn in 2020 and is projected to grow at a CAGR of 5.7% during the forecast period (2022 – 2030). The growing use of industrial adhesives in the building and construction industry for cladding and flooring, insulation, and other applications is driving the global market for industrial adhesives. Adhesives are used as the bonding layer for floor fixing between the existing floor and the substrate in the building and construction industry. It is also useful in prefabricated or manufactured housing. With the introduction of high-performance polymers and formulations, their use has grown. Adhesive is the most important materials in construction, and the market is expected to broaden as new technologies and design techniques are adopted. Furthermore, increased investments by major companies to undertake strategic initiatives are expected to boost the growth of global industrial adhesives market over the forecast period. For instance, In November 2020, Pidilite acquired a 100% stake in Huntsman Advanced Materials Solutions Private Ltd. (HAMSPL). In India, HAMSPL manufactures and sells adhesives, sealants, and other products under the Araldite, Araldite Karpenter, and Araseal brands. This acquisition adds to Pidilite’s already established retail portfolio of adhesive and sealant brands. Sika also announced that in December 2021, it will open a new technology center and production plant in Pune, India, for high-quality adhesives and sealants. Sika will produce products for the transportation, construction, and renewable energy sectors on the three new production lines.
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The research report on Industrial Adhesives Market will include extensive information based on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) and volume (Kilo Tons) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) volume (Kilo Tons) into all the relevant segments & sub-segments across all major regions/countries.
- Market Determinants and Influencing Factors
- Macro-Economic and Micro-Economic Indicators
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends on Global Industrial Adhesives Market
- Exclusive Details on the Effect of the Pandemic
- Porter’s Five Forces Analysis
- Competitor Landscape
- Product Benchmarking
- Market Share Analysis, 2020
- Global Presence and Growth Strategies
- The final report will include competitive product benchmarking which will encompass comparison of varied services offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding company details, company overview, product offerings, key developments, financial analysis, and SWOT analysis and business strategies.
- The research study specific to a region, including North America, Europe, Asia Pacific, Middle East & Africa and Latin America, is also available.
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Solvent Based Adhesives is expected to witness Fastest Growth over the Forecast Period
Solvent-based adhesives are used in a wide range of industries because of their flexibility, durability, and ease of application. Solvent-based adhesives are used in industries, from automotive parts manufacturing to the production of adhesive tapes for medical applications. It is also used in laminating and coating processes, particularly in the food packaging, tapes, labels, and graphics industries. Growing industrialization in the developing nations, as well as increased demand for solvent-based adhesives in various industries, are expected to drive segment growth over the forecast period in the global industrial adhesives market.
Application in Automotive Sector to Grow at the highest CAGR in the Global Industrial Adhesives Market
In order to meet the highly demanding requirements of consumers, the global automotive industry is constantly advancing with new technological innovations. This situation has prompted the development of technologically advanced adhesives and other related materials used in the manufacturing of automobiles and trucks. Adhesive is used in a variety of applications in the automotive industry, including interior, exterior, under the hood, and other applications. Adhesives in the automotive industry have become more sophisticated and capable over the years. This trend has been fuelled by the desire to bond new weight-saving and corrosion-resistant materials in an increasingly health-conscious and cost-conscious environment. The growing trend for lightweight and low-carbon-emitting vehicles are expected to contribute to the growth of the industrial adhesives market in the automotive industry.
The Impact of COVID-19 Pandemic on the Global Industrial Adhesives Market
The World Health Organization (WHO) declared a pandemic of the novel coronavirus disease (COVID-19), which was caused by the severe acute respiratory syndrome coronavirus 2, in March 2020. The impact on adhesive demand will differ depending on the end market. COVID-19 has accelerated growth in already fast-growing markets such as medical, hygiene, and food packaging. The availability of raw materials for the adhesives industry has been minimally impacted by the COVID-19 pandemic. Companies’ initiatives to adapt more seamlessly to changing market conditions highlights positive growth prospects for the global industrial adhesives market over the forecast period.
Asia Pacific in the Global Industrial Adhesives Market to witness Fastest Growth
According to the global figures, Asia-Pacific region’s tremendous economic expansion has greatly surpassed that of the other regions, and is consequently predicted to fuel the growth of global industrial adhesives market over the forecast period. The region’s rising middle-class population, particularly in China, is driving robust demand, mostly from automotive OEMs and packaging material makers. Rapid urbanisation and population growth in Asia-Pacific are driving infrastructure and construction activity, which is driving product demand in this region. Furthermore, industrial adhesives market participants in these regions are focusing on launching new products to enhance business presence and portfolio. Bostik, a global adhesive specialist company, for instance, launched their new range of GCR adhesive and sealant solutions for the transportation industry in July 2021. The new GCR series is a spectrum of general bonding and sealing solutions for use in rail and non-rail general transportation applications, and is specifically designed for use in the developing Asia transport market. The regional market is being pushed by new infrastructure development in emerging countries and consistent demand for higher quality solutions.
The key market participants operating in the Global Industrial Adhesives Market are:
- 3M
- Adhesive Products Inc.
- Adhesives Technology Corporation (ATC)
- Arofine Polymers Pvt. Ltd.
- ASTRAL ADHESIVES
- BASF SE
- Bond Tech Industries
- Bostik
- Chemique Adhesives & Sealants Ltd
- CHEMLINE INDIA LIMITED
- DELO Industrie Klebstoffe GmbH & Co. KGaA
- H.B. Fuller Company
- Henkel Adhesives Technologies India Private Limited
- Huntsman International LLC
- Panacol-Elosol GmbH
- Pidilite Industries Limited
- Pioneer Adhesives, Inc.
- Sika AG
- Solvay
- The DOW Chemical Company
- Other Market Participants
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Global Industrial Adhesives Market:
- By Type
-
- Water Based Adhesives
- Hot Melt Adhesives
- Pressure Sensitive Adhesives
- Solvent Based Adhesives
- Flexible Adhesives
- UV Adhesives
- Conductive Adhesives
- Structural Adhesives
- Others
- By Application
-
- Packaging
- Manufacturing
- Additive Manufacturing
- Structural Bonding
- Others
- Electrical and Electronics
- Consumer Electronics
- Semiconductors
- Others
- Automotive
- Interior and Body Applications
- Lighting
- Infotainment
- Powertrain and Chassis
- Others
- Transportation
- Bus & RV
- Trucks & Trailer
- Rail & Mass Transit
- Marine & Watercraft
- Others
- Construction
- Cladding & Flooring
- Insulation
- Others
- Aerospace & Defense
- Others
- By Composition
-
- Acrylic
- Epoxy
- Polyurethane
- Rubber
- Silicone
- Others
- By Distribution Channel
-
- Direct
- Indirect
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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