Australia Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Australia Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Australia Adhesives Market is projected to register a CAGR of 5.88%

Key Highlights

• Largest Segment by End User Industry - Packaging : The packaging end-user industry holds the largest share of the Australian adhesives market owing to its widespread applications including labels, tapes, carton sealing, and joining.
• Fastest-growing Segment by End User Industry - Aerospace : The aerospace industry is likely to register the fastest growth in the market owing to the rapid expansion of general and civil aviation in the domestic market.
• Largest Segment by Technology - Water-borne : Water-borne technology, an environmentally friendly and economically viable solution, holds a major share of the market due to its well-recognized usage in food packaging applications through emulsion and dispersion systems.
• Largest Segment by Resin - Polyurethane : The polyurethane adhesives segment holds the largest market share owing to their wide applications in building construction, woodworking, and automotive industries, specifically for exterior applications.

Key Market TrendsPackaging is the largest segment by End User Industry.

• In Australia, the economic crisis of 2017-2018 reduced output from key end-user industries, such as construction, packaging, and the other end-user industries market segment. As a result, demand for adhesives in the country grew slowly from 2017 to 2019. Adhesive demand fell further in 2020 due to numerous limitations implemented to combat the COVID-19 pandemic. Among all adhesive technologies, the market for UV-cured adhesives suffered the most and fell by 12.50% in volume compared to 2019.
• The packaging business in Australia is regarded as one of the most prominent sectors in the country. Despite decreasing demand, the packaging sector did quite well over the last five years, and according to some business experts, the Australian packaging industry has the ability to meet the rising needs of the future. According to a study by Macquarie University, Australians buy 118,000 tons of bottles each year on average. Many packaging firms have boosted their operational capacity to accommodate the enormous surge in demand for plastic-related products. The Australian packaging market was valued at 28.64 million tons in 2016 and is predicted to expand to 31.36 million tons by 2021, representing an almost 10% growth.
• Construction adhesives in Australia are expected to record a CAGR of approximately 4% by volume and 6% by value from 2022 to 2028. The outlook for Australian building and construction is much stronger than expected, yet the recovery remains uneven as the pandemic continues to impact certain industrial sectors and localities. Some building and construction sectors witnessed tremendous growth in 2021, while others experienced recession and depression. All these factors are expected to boost the demand for adhesives in the country over the forecast period.

Competitive Landscape

The Australia Adhesives Market is fairly consolidated, with the top five companies occupying 65.45%. The major players in this market are 3M, Arkema Group, AVERY DENNISON CORPORATION, DuluxGroup Ltd. and Henkel AG & Co. KGaA (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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