Category

Adhesives Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Water-based, Solvent-based, Hot-Melt, Reactive And Others), By Application (Consumer Appliances, Automobiles, General Transportation, Medical, Industrial, Woodworking And Plywood, Textiles, Household, Others (Construction, Packaging, Bookbinding, Footwear)), And By Geography - Forecasts From 2021 To 2026

Published: Aug 2021 | Report Code:  KSI061610033 | Pages:  125

The global adhesives market is projected to witness a CAGR of 3.47% during the forecast period to reach a total market size of US$64.065 billion by 2026, increasing from US$50.457 billion in 2019. Adhesive, any substance that is capable of holding materials together in a functional manner by a surface attachment that resists separation. It uses organic and inorganic materials to form an adhesive bond between different materials. Adhesive as a general term includes cement, mucilage, glue, and paste. Adhesives are widely used across several industrial, commercial, and residential applications.

The demand for adhesives is primarily driven by expanding applications across building & construction, packaging, and automotive industries. Their usage has grown rapidly with the introduction of high-performance polymers and formulations.  They are one of the most important materials used in construction and the market is expected to grow with the adoption of new designs and techniques. With the expansion of processed food & beverages production activities across the globe, the demand for efficient and reliable packaging solutions has increased significantly. This has fuelled the demand for adhesives globally. Another major driver for the market is increased demand for adhesives in the medical industry. Along with it, the adhesive is prevalently used in arts and crafts at various levels which are pushing manufactures to develop new products. Industrial use of adhesives includes HVAC manufacturing, woodworking, fabrication, etc.

By type, water-based is to occupy the largest market share. The major reason for the high consumption of water-borne adhesives is due to their characteristics like eco-friendly, low toxic, high initial adhesion, and variable formulation properties. Followed by that, hot melt occupies the next major share of percent, which are highly used in industries, such as hygiene, wood, paper packaging industry, etc. The demand for solvent-based adhesives is decreasing in recent times, due to their high volatile organic compounds, which are not preferred in various industries. By application, construction is proposed to account for the largest share because of the wide range of uses. Geographically, Asia-Pacific countries have emerged as one of the leading producers as well as consumers of adhesives due to the increasing domestic demand, rising income levels, and easy access to resources.

Growth Factors.

  • Manifold application.

Considering the types of adhesives available, they are used indoor and windows assembly, transportation industry, packaging, construction, domestic applications, machinery and equipment, fabric industry, mattress industry, carpentry, leather and ceramic industry, office and stationery, paint and plywood industry and the list goes on. These dependent industries propel the growth of the adhesive industry globally. Because of the wide range of applications, adhesive manufacturers invest a major proportion in research and development. They are constantly evolving with innovative and efficient products. These fresh novelties also attract new consumers to the market. Hence, the increasing demand for adhesives from these industries is a key driver for the market.

  • Increasing demand for eco-friendly adhesives.

As the nations sign various environmental treaties, there is a growing demand for environmentally-friendly or green buildings, which allows the development of green and sustainable adhesive solutions. The shift toward more sustainable products has provided the manufacturers with significant growth opportunities. Green adhesive solutions are made from renewable, recycled, remanufactured, or biodegradable materials; they are environmentally friendly and provide health benefits to the occupants. This is a relatively new market driver which has immense potential.

Restraint.

Adhesive manufacturing uses chemical and petro-based products, which are harmful to the environment.  Various agencies govern the manufacturing of these products in different regions of the world especially in North America and Europe. Epoxy Resin Committee (ERC) and the European Commission (EC) are two such monitoring organizations. The production capacities of manufacturers in the European and North American regions are being affected under such vigilance. However, stringent environmental regulations are compelling the manufacturers to focus on producing eco-friendly adhesives.

COVID-19 Impact On Adhesives Market

The adhesive industry is heavily dependent on its consumers. The Covid-19 pandemic has bought several restrictions and lockdowns which have negatively impacted the manufacturing industries, thereby contracting the demand for the adhesives market. The construction, automotive, and electronics industries have suffered a slack. The industrial nations which house the major adhesive manufacturers have also witnessed a contraction of the market. Social distancing measures, supply chain disruptions, and workforce dislocation have led to a fall in production levels. The healthcare industry though has increased the demand for adhesives because of the construction of makeshift facilities. But it is being estimated that the growth rate will not rebound to the pre-Covid level for a few coming years.

Competitive Insights.

The market leaders for the Global Adhesives Market are 3M Company, Dow Chemical Company, Pidilite Industries, H.B. Fuller, Avery Dennison Corporations, Basf SE, Ellsworth Adhesives, Henkel AG & Co. KGaA, Uniseal Inc, Ashland Global, and Arkema (Bostik). The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance,

  • 3M launched a new silicone adhesive in 2021 which helps improve medical devices intended for people with fragile skin.
  • H.B. Fuller in 2021 acquired Jubilant Agri and Consumer Products Limited (JACPL) and launched two new compostable adhesive solutions.
  • Basf SE started up its new acrylic dispersions production line in Pasir Gudang, Malaysia in 2021.
  • Uniseal Inc. was acquired by LG Chem Ltd in 2018.
  • In 2019, Ashland Global was bought by INEOS Enterprises. Bostik (parent company, Arkema) launched a Polyurethane sealants line for the Sealing & Bonding construction markets and plan to acquire Edge Adhesives Texas, a complementary asset in hot-melt adhesives and pressure-sensitive adhesive tapes for residential construction.

Adhesives Market Scope:

Report Metric Details
 Market size value in 2019  US$50.457 billion
 Market size value in 2026  US$64.065 billion
 Growth Rate  CAGR of 3.47% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  3M Company, The Dow Chemical Company, Pidilite Industries, H.B. Fuller, Avery   Dennison Corporations, Basf SE, Ellsworth Adhesives, Henkel AG & Co. KGaA,   Uniseal   Inc, Ashland Global, Arkema (Bostik)
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Type
    • Water-Bases
    • Solvent-Based
    • Hot-Melt
    • Reactive
    • Others
  • By Application
    • Consumer Appliances
    • Automobiles
    • General Transportation
    • Medical
    • Industrial
    • Woodworking and Plywood
    • Textiles
    • Household
    • Others (Construction, Packaging, Bookbinding, Footwear)
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Japan
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the global adhesives market?
A1. Adhesives Market was valued at US$50.457 billion in the year 2019.


Q2. What will be the adhesives market size by 2026?
A2. The global adhesives market is projected to reach a market size of US$64.065 billion by 2026.


Q3. What are the growth prospects for the adhesives market?
A3. The adhesives market is projected to witness a CAGR of 3.47% over the forecast period.


Q4. What factors are anticipated to drive the adhesives market growth?
A4. The demand for adhesives is primarily driven by expanding applications across building & construction, packaging, and automotive industries.


Q5. Which region holds the maximum market share of the adhesives market?
A5. Geographically, the Asia-Pacific region has emerged as one of the leading producers as well as consumers of adhesives due to the increasing domestic demand, rising income levels, and easy access to resources.

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