According to the report published by the Market Research Store, global demand for the adhesive market was estimated at approximately USD 53,000 Million in 2020 and is anticipated to generate revenue of around USD 72,130 Million by end of 2026, growing at a CAGR of around 4.5% between 2020 and 2026.
Global Adhesive Market: Overview
The word "adhesive" refers to a binding agent that is added to the surface of objects to keep them together. For various uses, a variety of adhesive forms are used. In the building and construction, aerospace, packaging, woodworking, and clothing markets, adhesives are used in a variety of applications. For bonding uses, an adhesive is often used in the form of tapes. These tapes can be coated with a variety of pressure-sensitive adhesives and can be quickly applied to any surface by applying pressure manually or mechanically. A backing material or carrier is often lined with an adhesive or a release lining of an adhesive tape.
Global Adhesive Market: Growth Factors
The demand for high-performance adhesives has risen considerably in the automotive industry for efficient bonding of dissimilar materials. Increased investment in the construction of fuel-efficient and environmentally friendly vehicles has resulted in a rise in the usage of high-performance adhesives for bonding synthetic materials in automobiles. However, the global adhesive industry is expected to be hampered in the coming years by a drop in automotive demand over the last few years and the outbreak of the COVID-19 pandemic. During the forecast era, rising environmental consciousness and strong demand for inexpensive packaging solutions are expected to contribute to the growth of the adhesive industry. During the forecast era, the global adhesive demand is projected to expand steadily.
| REPORT SNAPSHOT & REPORTING DATA TIMEFRAME |
| Parameter |
Details |
| 2020 Market Size |
~USD 53,000 Million |
| 2026 Market Size |
~USD 72,130 Million |
| CAGR (2021 – 2026) |
4.5% |
| Historical Date ( Actual DAta) |
2016 - 2020 |
| Base Year Data |
2020 |
| Current Year Data |
2021 |
| Projected Data |
2021 - 2026 |
Global Adhesive Market: Segmentation
On the basis of product type, the adhesive market is bifurcated into categories such as EVA, acrylic, styrenic block, PVA, polyurethanes, epoxy, and others. Polyurethane accounted for the lion's share of the overall adhesive demand in 2019 and is expected to continue to do so over the projected period. The polyurethane segment's domination is projected to be fueled by strong demand from a variety of end-use applications. Acrylic adhesives are expected to rise at the fastest rate during the projected period, owing to heavy demand from the packaging industry and rising demand for high-performance adhesives across a variety of industries. Based on the technology type, the market could be further split into hot-melt, water-based, solvent-based, reactive, and others. Water-based technology had the highest market share as it is used as a carrier and able to evaporate or be consumed by the substrate. They also cap VOC emissions, and the market is expected to grow in the coming years as environmental awareness and legislation become more stringent. Chemical solvents are used as a carrier or diluting medium in solvent-based technology. Because of their high bond strength and excellent heat and chemical resistance, they are extensively used in outdoor and long-term applications. However, rising crude oil costs, as well as increased environmental and workplace safety legislation, are likely to limit demand for this technology. On the basis of end-use, automobile, pressure sensitive applications, packaging, footwear, construction, furniture & laminates, and others. The segment of the construction industry is considered to be the highest revenue holder as it is influenced by macroeconomic trends as well as government actions. Industry players are encouraged to follow sustainable designs and green construction standards as a result of quality improvements and LEED certification. As a result, the market for adhesives rises. The growing need for adhesives in green building technologies has increased the need for R&D to create new adhesive materials. For example, Franklin International released Titebond, a panel adhesive, in 2019 to make standard-sized panel installation easier. An exact quantity of adhesive is used with the latest package to install a regular 4' x 8' FRP plate. During the forecast era, these trends are expected to fuel the global adhesives demand.
Global Adhesive Market: Regional Analysis
The Asia Pacific adhesives market is expected to develop at the fastest rate in terms of revenue during the projected period. Regional development is expected to be fueled by rapid industrialization, high GDP growth, and increased manufacturing production. Furthermore, favorable government policies are expected to boost the construction industry, which will help product penetration in the city. China, India, and Japan were the main growth producers in the sealants industry in the Asia Pacific. The automotive, heavy machinery and electrical and electronics sectors are expected to benefit from the increasing manufacturing sector. Thanks to technological transfer from western economies, China and India have seen an increase in automobile demand in recent years.
Global Adhesive Market: Competitive Players
The major players dominating the global adhesive market in terms of revenue and development are Ashland Inc., Royal Adhesives, Avery Dennison Corporation, Huntsman International LLC, BASF SE, Nagase & Co., Ltd., Bostik SA, RPM International Inc., H. B. Fuller, Ashland, Henkel AG & Company KGaA, LORD Corporation, Pidilite Industries Limited, Permabond LLC, Sika AG, Evonik Industries AG, The 3M Company, Bolton Group B.V., The Dow Chemicals Company, Jowat SE, and Uniseal Inc., among others. Some of the world's most well-known corporations are releasing new technologies or purchasing rival firms, ensuring that the market continues to grow rapidly in the coming years. Fixatti, a firm specializing in high-performance thermobonding adhesive powders, was purchased by Arkema Group in July 2020. The company was able to expand its global offering of hotmelt adhesive solutions for specialty industrial applications in the manufacturing, technical coating, chemical, aerospace, and textile printing industries as a result of this purchase.
Global Adhesive Market: By Product Type Segmentation Analysis:
- EVA
- Acrylic
- Styrenic Block
- PVA
- Polyurethanes
- Epoxy
- Others
Global Adhesive Market: By Product Type Segmentation Analysis
- Bandages/Tapes
- Pads
- Gauze
- Films
- Others
Global Adhesive Market: By Technology Type Segmentation Analysis
- Hot-Melt
- Water-Based
- Solvent-Based
- Reactive
- Others
Global Adhesive Market: By Application Segmentation Analysis
- Automobile
- Pressure Sensitive Applications
- Packaging
- Footwear
- Construction
- Furniture & Laminates
- Others
Global Adhesive Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
What are the key factors driving Adhesive Market expansion?
The demand for high-performance adhesives has risen considerably in the automotive industry for efficient bonding of dissimilar materials. Increased investment in the construction of fuel-efficient and environmentally friendly vehicles has resulted in a rise in the usage of high-performance adhesives for bonding synthetic materials in automobiles.
What will be the value of the Adhesive Market during 2020- 2026?
According to Market Research Store, global demand for the adhesive market was estimated at approximately USD 53,000 Million in 2020 and is anticipated to generate revenue of around USD 72,130 Million by end of 2026, growing at a CAGR of around 4.5% between 2020 and 2026.
Which region will make substantial contributions to global revenues from the Adhesive Market?
The Asia Pacific adhesives market is expected to develop at the fastest rate in terms of revenue during the projected period. Regional development is expected to be fueled by rapid industrialization, high GDP growth, and increased manufacturing production. Furthermore, favorable government policies are expected to boost the construction industry, which will help product penetration in the city.
What are the key players leveraging Adhesive Market growth?
The major players dominating the global adhesive market in terms of revenue and development are Ashland Inc., Royal Adhesives, Avery Dennison Corporation, Huntsman International LLC, BASF SE, Nagase & Co., Ltd., Bostik SA, RPM International Inc., H. B. Fuller, Ashland, Henkel AG & Company KGaA, LORD Corporation, Pidilite Industries Limited, Permabond LLC, Sika AG, Evonik Industries AG, The 3M Company, Bolton Group B.V., The Dow Chemicals Company, Jowat SE, and Uniseal Inc., among others.
