The “Adhesives Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Adhesives Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global adhesives market size was US$ 49.6 billion in 2021, which is expected to reach US$ 83.2 billion by 2030, registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030. Adhesives find their applications in various sectors, such as automotive, construction, etc. The product is used to combine components like the parts of wood, electronics, automotive, etc.
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Factors Influencing the Market
- Adhesives are increasingly adopted in the construction segment. The increasing number of construction activities is forecast to offer ample growth opportunities for the market.
- Growing initiatives towards green building technology are likely to prompt the growth of the global adhesives market. The growing demands for efficient adhesives in green building technology will benefit the market. Franklin International introduced Titebond, a panel adhesive in 2019. This adhesive is used to make standard-sized panel installation easier.
- The rising demand for lightweight automotive is forecast to surge the growth of the market. The automotive industry is growing at a neck-breaking speed. As a result, it will contribute to the global adhesives market growth. Adhesives are used to make automotive lighter, quieter, and safer as compared to mechanical fastening methods. Thus, the global adhesives market will grow rapidly during the study period.
- The high use of petrochemicals in the manufacture of adhesives and other specialized chemicals may limit the growth of the global adhesives market during the forecast period.
COVID-19 Impact Analysis
The global adhesives market has been severely impacted due to the COVID-19 outbreak. The need for adhesives has dropped dramatically, owing to a drop in construction and manufacturing activities. In addition, the demand for building renovations, woodworking, and vehicles also reduced drastically. Thus, all of these factors have been significant reasons behind the sudden setback of the market. Furthermore, the scarcity of raw materials and the disruption of the supply chain are further limiting market expansion in the midst of the crisis.
Regional Analysis
Europe holds the highest share in the global adhesives market, owing to the growing number of construction activities. In addition, the rising demand for lightweight vehicles in Asia-Pacific is driving the growth of the Asia-Pacific adhesives market. Moreover, governments worldwide are focusing on promoting environment-friendly technology. Light-weight vehicles, being one of them, has a potential scope in the coming years. Thus, it will fuel the growth of the global adhesives market during the study period.
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Competitors in the Market
- 3M Company
- Adhesives Research Inc.
- Akzo Nobel N. V.
- Arkema Group
- Ashland Inc.
- Avery Dennison Corporation
- Delo Industrie Lebstoffe GMBH &Co. KGAA
- DowDuPont Inc.
- DYMAX Corporation
- Franklin International
- H B Fuller Company
- Henkel AG & Co. KGaA
- Huntsman Corporation
- Illinois Tool Works Inc.
- Jowat SE
- Lord Corporation
- Mapei Corporation
- Master Bond Inc.
- Meridian Adhesives Group
- Pidilite Industries
- PPG Industries
- RPM International Inc.
- Sika Group
- Soudal Group
- Wacher Chemie Ag.
- Other Prominent Players
Market Segmentation
The global adhesives market segmentation focuses on Product, Technology, End-User, and Region.
Based on product –
- Acrylic
- Polyvinyl Acetate
- Epoxy
- Polyurethane
- Ethyl Vinyl Acetate
- Others
Based on technology-
- Water-Based
- Solvent-Based
- Hot melt
- Pressure Sensitive
- Others
Based on end-user-
- Automotive
- Packaging
- Electrical & Electronics
- Building & Construction
- Woodworking
- Others
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Based on region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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