The report by Future Market Insights gives in-depth insights on the sector in terms of revenue and sales projections for the duration between 2022 and 2030. Application of adhesives as viable substitutes for flanges, panels, and other fastener settings support growth in the long-term. Expanding at a CAGR of 4.5% the global sales of Industrial Adhesives is expected to increase from a valuation of US$ 52,862.0 Mn in 2021 to US$ 78 Bn by the end of 2030.
| Industrial Adhesives Market Value (2021A) | US$ 52,862.0 Mn |
| Industrial Adhesives Market Estimation (2022E) | US$ 55,069.0 Mn |
| Industrial Adhesives Market Projection (2030F) | US$ 78,016.4 Mn |
| Value CAGR (2022-2030) | 4.5% |
| Collective Value Share: Top 3 Countries (2022E) | 49.6% |
Manufacturing and industrial facilities from numerous verticals require specialized adhesives for production and product quality. As a result, the demand for industrial adhesives has risen steadily in years past. However, the coronavirus pandemic has had a substantial impact on industrial activity on a global scale, generating a slight decline in demand during 2020.
A key factor driving global demand for industrial adhesive products is the growing scope of applications in the packaging, electronics, and automotive sectors, along with investments into product development for greater functionality, bolstering overall adoption rates.
Sustainability Trends Aid Market Prospects
According to The Adhesive and Sealant Council, the automotive industry alone makes use of up to 40 kg of industrial adhesives for every vehicle. Consequently, the residue, and improper application techniques pose environmental and health risks.
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With efforts in keeping up with the requirements of the modern consumers industrial adhesive manufacturers are seeking methods to minimize the environmental impact of their product offerings. Investments into research and development to develop alternatives to conventional chemical industry adhesives market are important.
On the other hand, cost and performance standards of industrial adhesives are also of high importance for users. Consequently, manufacturers have been pushing for the incorporation of the better technologies towards this end. For instance, electron beam processing has found a role as a substitute for ultraviolet curing or oven drying, which has shown promise in minimizing emissions of volatile organic compounds.
Industrial Adhesives Market – Competitive Landscape
Industrial adhesive manufacturers around the world are employing a multi-pronged strategy including product development, collaborations towards bolstering distribution networks, and capacity and geographic expansion endeavors.
The coronavirus is expected to create short term hurdles for industrial adhesives. However, the overall prospects of the sector are positive through 2030, even as some businesses are pushed towards operational and workforce cuts during this period.
In addition to these players, some other prominent industrial adhesive manufacturers include:
- 3M
- Sika AG
- Dow Inc.
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- Arkema S.A.
- Huntsman Corporation
- Teraoka Seisakusho co., Ltd.
- Pidilite Industries Limited
- FORBO Holding
- Covestro AG
- Organik Kimya
- Panacol-Elosol GmbH
- Cargill Incorporated
- Master Bond Inc.
- Glue Dots International
- ASTRAL ADHESIVES
- Super Glue Corporation
- YAMATO Co., Ltd
- DELO Adhesives
- Tonsan
- Hongshu Adhesive Products Industrial Co., Ltd
- GRECO (Great Eastern Resins Industrial Co., Ltd.)
- Vulkaflex Industria
- Chemlok
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Industrial Adhesives Market By Category
By Product Type, the Industrial Adhesives market is segmented as :
- Acrylic Adhesives
- PVA Adhesives
- PUR Adhesives
- EVA Adhesives
- Epoxy Based Adhesives
- Others
By Technology, the Industrial Adhesives market is segmented as :
- UV CURE Adhesives
- Pressure Sensitive Adhesives
- Industrial Adhesives
- Plastic Adhesives
- Hot Melt Adhesives
- Others
By End Use, the Industrial Adhesives market is segment as :
- Automotive & Aerospace
- Healthcare
- Consumer Goods
- Packaging
- Construction
- Electronics
- Furniture & Metalwork
- Glass Making
- Footwear
By Region, the Industrial Adhesives market is segmented as :
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- MEA
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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