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 are expected to increase from a valuation of US$ 52,862.0 Million in 2021 to US$ 78 Billion by the end of 2030. 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.
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.
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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.
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
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Industrial Adhesives Market By Category
By Product Type:
- Acrylic Adhesives
- PVA Adhesives
- PUR Adhesives
- EVA Adhesives
- Epoxy Based Adhesives
- Others
By Technology:
- UV CURE Adhesives
- Pressure Sensitive Adhesives
- Industrial Adhesives
- Plastic Adhesives
- Hot Melt Adhesives
- Others
By End Use:
- Automotive & Aerospace
- Healthcare
- Consumer Goods
- Packaging
- Construction
- Electronics
- Furniture & Metalwork
- Glass Making
- Footwear
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- MEA
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Ani-Microbial Products Gain Traction with Covid-19
The uncertainty over the duration and severity of the coronavirus pandemic has resulted in consumers and end user industries pushing for the development of offerings with anti-microbial offerings. Demand is expected to rise for applications in healthcare device production to minimize the spread of anti-biotic resistant microbes and hospital-acquired infections.
Demand in the recent past was relatively lower owing to cost and durability issues. However, health and economic changes have helped in the justification of adopting these materials. Industrial adhesive manufacturers can potentially take up repurposing and rebranding strategies for their offerings. Materials such as liquid metal, biocides, organo-silane nano-coatings, and specialized peptide coatings.
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Hot Melt Adhesives Market: Global demand for hot melt adhesives is expected to register a CAGR of 5.3% by accumulating a market value of US$ 12,675.5 Million. As of 2022, the market is expected to be valued at US$ 7,562.9 Million.
Electronics Adhesives Market: The electronics adhesives market has seen remarkable growth in Europe and East Asian countries. Moreover, looking at the types of electronics adhesives, the demand for encapsulation processes is likely to grow at rapid pace, particularly in the mobiles and telecommunication industry.
Construction Chemicals Market: The global demand for the construction chemicals market is anticipated to grow at a CAGR of 6.7% and to be valued at US$ 104.92 billion in 2032,
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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 9-years.
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