Adhesive Market Trends and Forecast
The future of the global adhesive market looks promising with opportunities in the aerospace, automotive, building & construction, footwear & leather, healthcare, packaging, and woodworking & joinery markets. The global adhesive market is expected to reach an estimated $97.3 billion with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are growing need for adhesives in flexible packaging solutions, rising construction activities, and increasing demand of eco-friendly & high-performance adhesives.
Polymers, resins, and elastomers provide the majority of adhesives. They can be made from common raw materials such as starch, casein and synthetic ones including acrylics, epoxies or polyurethanes. Adhesive properties are improved by using additives like solvent, filler and curing agents.
Adhesive pricing is extremely uncertain because it relies on factors such as cost of raw materials, adhesive type; production method; performance characteristics and packaging. Generally speaking specialty adhesives with advanced properties have higher prices compared to commodity grade standard types. Within the adhesive market there is severe competition which leads to price fluctuations and a broad range of alternatives for consumers and industries.
• Lucintel forecasts that acrylic is expected to witness the highest growth over the forecast period.
• Within this market, packaging is expected to witness the highest growth.
Country Wise Outlook for the Adhesive Market
The adhesive market is witnessing substantial growth globally, driven by growing need for adhesives in flexible packaging solutions. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major adhesive producers in key regions: the USA, China, India, Brazil, and Germany.
Emerging Trends in the Adhesive Market
Emerging trends in the adhesive market shaping its future applications and market dynamics:
• Eco-friendly Adhesives: The demand for environmental friendly sustainable and bio-degradable adhesives has been increasing to due growing awareness of the environment and strict regulation.
• Smart Adhesives: Advances in adhesive technology have led to the development of adhesives with unique properties, such as self-healing materials and responsive to environmental stimuli.
• Bio-based Adhesives: The search has further increased on biobased adhesives made from renewable sources including plant-derived polymers so as to reduce dependence on petrochemicals.
• Lightweight Adhesives: Growing use of lightweight adhesives in the automotive industry and aerospace sectors enhance fuel efficiency and lower emissions.
• Healthcare Applications: Widespread use of adhesive technology in medical device, wound care, and wearable technologies fueled by expanding healthcare industry.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Recent Development in the Adhesive Market
Ongoing innovations and advancements in various sectors of the adhesive market which have been highlighted by recent developments:
• 3M: Launched a new line of sustainable adhesives made from recycled materials, targeting packaging and construction sectors.
• Henkel: Expanded its production capacity for high-performance adhesives in Asia Pacific to cater to growing demand from electronics and automotive industries.
• Sika: Acquired a specialty adhesives manufacturer to strengthen its position in the construction and industrial markets.
• Dow Inc.: Introduced innovative water-based adhesives for flexible packaging, emphasizing sustainability and performance.
• Arkema: Invested in research and development to develop advanced adhesive solutions for electric vehicle batteries.
Strategic Growth Opportunities for Adhesive Market
Some key strategic growth opportunities for this market include:
Sustainability Focus: Environmental concerns and increasing environmental pressures make it necessary to develop water-based adhesive systems, eco-friendly adhesives, bio-based adhesives among others.
Advancement in Automotive: By means of providing high performing adhesives for bonding advanced materials such as composites and aluminum, the company can capture the growing demand for lightweight and fuel-efficient vehicles.
Construction Boom: The growth in infrastructure and residential construction can be tapped through new adhesive offerings such as roofing adhesives, flooring adhesives, insulation adhesives etc., which will cater to various applications
Packaging Innovations: Specialized adhesive products would help meet the packaging industry’s need for fast, green, sustainable and effective packaging solutions.
Emerging Markets: Market penetration is pursued actively by market players into developing nations with fast industrializing and urbanizing economies.
Technological advancements that leverage are able to make adhesive solutions high performance and specialized can drive market expansion in sectors as varied as automotive, healthcare and packaging.
Adhesive Market Driver and Challenges
The adhesive market is currently experiencing a state of dynamic growth due to different factors while at the same time facing several hindrances, which affect its development. Growth in construction activities and expansion of the automotive industry as well as the packaging sector are some of the main contributing factors leading to increased demand for adhesives. However, there are also many challenges that it encounters among them being volatile prices of raw materials, strict environmental rules, tough competition in the market and adoption of alternative bonding methods.
The factors responsible for driving the adhesive market include:
Growing Construction Activities: Increase in adhesives demand in residential and commercial building projects.
Expansion of the Automotive Industry: Increased use of adhesives for lightweighting, improving fuel efficiency, and durability in automobiles.
Rise in Packaging Industry: Adhesive growth is driven by increasing requirements for flexible packaging and e-commerce packaging solutions
Technological Advancements: High-performance adhesives and eco-friendly adhesive development boost market growth
Challenges in the adhesive market are:
Volatile Raw Material Prices: Changes in raw material prices may affect production costs as well as margin profits.
Intense Competition: The intense competition among key players leads to the pricing pressures along with decrease profit margins.
Adoption of Alternative Technologies : Growth potential of adhesive products can be restricted by alternative bonding technologies such as mechanical fastening.
The market for adhesives appears set to expand, driven by strong demand across multiple sectors and constant technological advances. Nevertheless, the industry has to deal with several challenges if it is going to keep growing amidst fluctuating costs of raw materials, increasing regulations, competition dynamics and alternative technologies’ rise. Recognizing these issues using strategic breaks and novel products will be essential in ensuring that adhesive market grows in a sustainable manner.
Adhesive Suppliers and Their Market Shares
In this globally competitive market, several key players such as 3M, Aica Kogyo, Arkema Group, AVERY DENNISON CORPORATION, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players contact us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies adhesive companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the adhesive companies profiled in this report include-
• 3M
• Aica Kogyo
• Arkema Group
• AVERY DENNISON CORPORATION
• Dow
• DuPont
• H.B. Fuller Company
• Henkel
• Huntsman International
• Illinois Tool Works
These companies have established themselves as leaders in the adhesive industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the adhesive market are evolving, with the entry of new players and the emergence of innovative adhesive technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Adhesive Market by Segment
The major growth segments of the adhesive market are construction adhesives that are driven by infrastructure projects; automotive adhesives due to lightweight and fuel efficient vehicles demand; and packaging adhesives as a result of expanding e-commerce and packaging industries.
Adhesive Market by Resin Type [Value from 2018 to 2030]:
• Acrylic
• Cyanoacrylate
• Epoxy
• Polyurethane
• Silicone
• VAE/EVA
Adhesive Market by Technology [Value from 2018 to 2030]:
• Hot Melt
• Reactive
• Solvent-Borne
• UV Cured Adhesives
• Water-Borne
Adhesive Market by End Use [Value from 2018 to 2030]:
• Aerospace
• Automotive
• Building & Construction
• Footwear & Leather
• Healthcare
• Packaging
• Woodworking & Joinery
• Others
Adhesive Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Features of the Global Adhesive Market
Market Size Estimates: Adhesive market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Adhesive market size by resin type, technology, end use, and region in terms of value ($B).
Regional Analysis: Adhesive market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different resin types, technologies, end uses, and regions for the adhesive market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the adhesive market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the adhesive market size?
Answer: The global adhesive market is expected to reach an estimated $97.3 billion by 2030.
Q2. What is the growth forecast for adhesive market?
Answer: The global adhesive market is expected to grow with a CAGR of 6.0% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the adhesive market?
Answer: The major drivers for this market are growing need for adhesives in flexible packaging solutions, rising construction activities, and increasing demand of eco-friendly & high-performance adhesives.
Q4. What are the major segments for adhesive market?
Answer: The future of the adhesive market looks promising with opportunities in the aerospace, automotive, building & construction, footwear & leather, healthcare, packaging, and woodworking & joinery markets.
Q5. Who are the key adhesive market companies?
Answer: Some of the key adhesive companies are as follows:
• 3M
• Aica Kogyo
• Arkema Group
• AVERY DENNISON CORPORATION
• Dow
• DuPont
• H.B. Fuller Company
• Henkel
• Huntsman International
• Illinois Tool Works
Q6. Which adhesive market segment will be the largest in future?
Answer: Lucintel forecasts that acrylic is expected to witness the highest growth over the forecast period.
Q7. In adhesive market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the adhesive market by resin type (acrylic, cyanoacrylate, epoxy, polyurethane, silicone, and VAE/EVA), technology (hot melt, reactive, solvent-borne, UV cured adhesives, and water-borne), end use (aerospace, automotive, building & construction, footwear & leather, healthcare, packaging, woodworking & joinery, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Adhesive Market Market, Adhesive Market Market Size, Adhesive Market Market Growth, Adhesive Market Market Analysis, Adhesive Market Market Report, Adhesive Market Market Share, Adhesive Market Market Trends, Adhesive Market Market Forecast, Adhesive Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.