Adhesives Market by Type (Hot Melt Adhesives, Pressure Sensitive Adhesives (PSA), Reactive Adhesives), Product (Acrylics-based Adhesives, Epoxy-based Adhesives, Polyurethane (PU)-based Adhesives), End-User - Global Forecast 2024-2030

Adhesives Market by Type (Hot Melt Adhesives, Pressure Sensitive Adhesives (PSA), Reactive Adhesives), Product (Acrylics-based Adhesives, Epoxy-based Adhesives, Polyurethane (PU)-based Adhesives), End-User - Global Forecast 2024-2030

The Adhesives Market size was estimated at USD 56.34 billion in 2023 and expected to reach USD 59.35 billion in 2024, at a CAGR 5.47% to reach USD 81.80 billion by 2030.

Adhesives encompass a broad category of materials designed to bond surfaces together in a durable and often permanent manner. These substances can be natural or synthetic and are pivotal in various industries, including automotive, construction, electronics, and healthcare. The major factors driving the expansion of adhesive use include technological advancements that improve adhesive properties and environmental considerations that favor adhesives over mechanical fastening methods. Moreover, the growing demand for lightweight and fuel-efficient vehicles encourages the automotive industry to rely on adhesives increasingly. However, challenges such as curing times, durability under extreme conditions, and potential environmental harm pose significant hurdles. Addressing these disadvantages requires ongoing R&D efforts focused on developing adhesives that cure faster, offer greater resistance to temperature and moisture, and are more eco-friendly. The increasing adoption of bio-based adhesives, advancements in medical adhesives for surgical and wound-care applications, and the expansion of electronics manufacturing require sophisticated adhesive solutions, offering opportunities for new product development.

Regional Insights

In the Americas, the demand for adhesives is significantly driven by the construction and packaging industries, with a pronounced lean towards eco-friendly and sustainable solutions. Production technology tends to be highly advanced, with many regional companies leading in innovation. The Americas market is also characterized by strict regulatory standards pertaining to environmental and health safety. The APAC region is witnessing the fastest growth in adhesive demand, largely fueled by booming manufacturing sectors, rapid urbanization, and infrastructure development. The region benefits from lower production costs and has become a hub for both local and international adhesive companies to expand their manufacturing capabilities. The EMEA region exhibits a mature market scenario with a strong focus on technological advancements, quality, and durability of adhesives. The demand in EMEA is primarily driven by the automotive and aerospace industries, with Germany, France, and the UK at the forefront. Companies in EMEA are heavily invested in research and development, striving for product innovation to meet stringent environmental regulations and high-performance requirements. The landscape is highly competitive, with a mix of global players and specialized local enterprises.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Adhesives Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Surging growth of the automotive and construction industries
• Rising popularity of eco-friendly adhesives worldwide
• Availability of various adhesive products through online channels

Market Restraints

• Complex manufacturing of adhesive solutions

Market Opportunities

• Technological advancements in adhesive formulations
• Investments in production capacity expansion of adhesives

Market Challenges

• Health and environmental impact of adhesives

Market Segmentation Analysis

• Type: Rising popularity of water-borne adhesives with improved sustainable aspects
• Application: Large-scale utility of adhesives in the building and construction sector worldwide

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Adhesives Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Adhesives Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Henkel Strengthens Adhesive Technologies Business With Strategic Acquisition

Henkel announced its strategic acquisition of Seal for Life Industries LLC, a company based in the United States and previously owned by Arsenal Capital Partners. Seal for Life is recognized for its specialized contributions to the protective coating and sealing solutions market, serving a diverse array of infrastructure sectors, including renewable energy, water, and oil & gas. Seal for Life's innovative technologies will bolster Henkel's portfolio, driving further growth in the adhesive technologies sector. Henkel CEO Carsten Knobel reiterated the company's commitment to strategic acquisitions as a cornerstone of its Purposeful Growth Agenda, emphasizing the complementarity and profitability of Seal for Life's offerings to their existing service range.

Scott Bader Announces GBP 30 Million Investment to Boost Adhesive Manufacturing

Scott Bader UK announced a significant commitment with a GBP 30 million investment aimed at revolutionizing its premier UK manufacturing facility. This investment is set to optimize support for the company's UK clientele by ensuring faster delivery times and facilitating the swift expansion of sustainable product alternatives alongside novel high-performance materials in emerging sectors such as 3D printing.

APPLIED Adhesives Acquires McGinley Adhesives

APPLIED Adhesives, a provider of custom adhesive solutions in North America, announced the acquisition of McGinley Adhesives, a New Jersey-based company renowned for over three decades of adhesive expertise, particularly in the food, beverage, and pharmaceutical sectors. This strategic move is set to bolster APPLIED's East Coast presence significantly. This merger will elevate the customer experience by offering superior access to innovative products and services.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Adhesives Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Adhesives Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Arkema SA, Ashland Inc., Avery Dennison Corporation, Compagnie de Saint-Gobain S.A., Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, Franklin International, General Sealants Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, Illinois Tool Works Inc., Mapei S.p.A, Master Bond Inc., Momentive Performance Materials Inc., Parker Hannifin Corporation, Permabond LLC, Pidilite Industries Limited, Sika AG, Tesa SE, The Reynolds Co., Wacker Chemie AG, and Yokohama Rubber Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Adhesives Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Hot Melt Adhesives
• Pressure Sensitive Adhesives (PSA)
• Reactive Adhesives
• Solvent Based Adhesives
• Water Based Adhesives
• Product
• Acrylics-based Adhesives
• Epoxy-based Adhesives
• Polyurethane (PU)-based Adhesives
• Polyvinyl Acetate (PVA)-based Adhesives
• Styrenic Blook-based Adhesives
• End-User
• Building & Construction
• Electrical & Electronics
• Footwear & Leather
• Healthcare
• Paper, Board, & Packaging
• Transportation
• Woodworking & Joinery
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year