Executive Summary

The global adhesives market is expected to reach a value of USD 66.4 billion by 2028, with a CAGR of 5.4% from 2021 to 2028. The growth of the market can be attributed to several factors, including increasing demand from end-use industries, growing demand for lightweight vehicles, and technological advancements in the adhesives industry.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global adhesives market is growing at a CAGR of 5.4% from 2021 to 2028, and is expected to reach a value of USD 66.4 billion by 2028.
• The construction industry is the largest consumer of adhesives, accounting for more than 30% of the total market share.
• The automotive industry is the second-largest consumer of adhesives, and is expected to grow at a CAGR of 5.8% from 2021 to 2028.
• The Asia Pacific region is the largest market for adhesives, accounting for more than 40% of the total market share.
• Polyurethane adhesives are the most widely used type of adhesive, accounting for more than 30% of the total market share.

Market Drivers

• Increasing demand from end-use industries: The demand for adhesives is increasing in end-use industries such as construction, automotive, packaging, and others. This is primarily due to the several advantages that adhesives offer over traditional bonding methods.
• Growing demand for lightweight vehicles: The automotive industry is increasingly focusing on developing lightweight vehicles to improve fuel efficiency and reduce carbon emissions. Adhesives offer several benefits over traditional bonding methods, such as welding and mechanical fasteners, including higher durability, better flexibility, and improved resistance to environmental factors.
• Technological advancements in the adhesives industry: The adhesives industry is undergoing rapid technological advancements, which are enabling the development of new and improved adhesives. These advancements are also driving down the cost of adhesives, making them more affordable for end-users.

Market Restraints

• Volatility in raw material prices: The prices of raw materials used in the manufacturing of adhesives are subject to volatility, which can impact the profitability of adhesive manufacturers.
• Stringent environmental regulations: The adhesives industry is subject to stringent environmental regulations, which can increase the cost of manufacturing adhesives and limit their use in certain applications.

Market Opportunities

• Increasing demand from emerging economies: Emerging economies such as China, India, and Brazil are witnessing rapid industrialization, urbanization, and infrastructure development, which is expected to drive the demand for adhesives in these regions.

• Growing demand for bio-based adhesives: The demand for bio-based adhesives is increasing, primarily due to the growing focus on sustainability and environmental protection. Bio-based adhesives are made from renewable resources and have a lower carbon footprint than traditional adhesives.
• Expansion of the packaging industry: The packaging industry is a major consumer of adhesives, and is expected to witness significant growth in the coming years. This is primarily due to the growing demand for packaged food and beverages, and the increasing focus on sustainable packaging solutions.

Market Dynamics

The global adhesives market is highly competitive, with several multinational and regional players operating in the market. The market is characterized by rapid technological advancements, frequent product launches, and increasing focus on sustainability and environmental protection.

Regional Analysis

The Asia Pacific region is the largest market for adhesives, accounting for more than 40% of the total market share. The region is witnessing rapid industrialization and infrastructure development, which is driving the demand for adhesives in the region. The region is also home to several major adhesive manufacturers, including 3M Company, H.B. Fuller Company, and Henkel AG & Co. KGaA.

The North America and Europe regions are also significant markets for adhesives, and are witnessing steady growth due to the increasing demand from end-use industries and technological advancements in the adhesives industry.

Competitive Landscape

Leading Companies in the Global Adhesives Market:

1. Henkel AG & Co. KGaA
2. 3M Company
3. Sika AG
4. H.B. Fuller Company
5. Dow Chemical Company
6. Avery Dennison Corporation
7. Bostik SA
8. Huntsman International LLC
9. Ashland Global Holdings Inc.
10. LORD Corporation

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global adhesives market can be segmented based on type, application, and region.

By type:

• Polyurethane
• Acrylic
• Silicone
• Epoxy
• Others

By application:

• Construction
• Automotive
• Packaging
• Healthcare
• Electronics
• Others

Category-wise Insights

Construction industry:

• The construction industry is the largest consumer of adhesives, accounting for more than 30% of the total market share.
• Adhesives are used in construction for applications such as flooring, roofing, insulation, and others.
• The growth of the construction industry, particularly in emerging economies, is expected to drive the demand for adhesives in the coming years.

Automotive industry:

• The automotive industry is the second-largest consumer of adhesives, and is expected to grow at a CAGR of 5.8% from 2021 to 2028.
• Adhesives are used in automotive manufacturing for applications such as bonding panels, windshield installation, and others.
• The growing demand for lightweight vehicles is expected to drive the demand for adhesives in the automotive industry.

Packaging industry:

• The packaging industry is a major consumer of adhesives, and is expected to witness significant growth in the coming years.
• Adhesives are used in packaging for applications such as sealing, labeling, and others.
• The growing demand for packaged food and beverages, and the increasing focus on sustainable packaging solutions are expected to drive the demand for adhesives in the packaging industry.

Key Benefits for Industry Participants and Stakeholders

• Improved bonding performance and durability
• Increased efficiency and productivity
• Improved flexibility and design freedom
• Reduced weight and improved fuel efficiency (in the automotive industry)
• Reduced environmental impact and improved sustainability

SWOT Analysis

Strengths:

• Advantages over traditional bonding methods
• Rapid technological advancements
• Growing demand from end-use industries

Weaknesses:

• Volatility in raw material prices
• Stringent environmental regulations

Opportunities:

• Increasing demand from emerging economies
• Growing demand for bio-based adhesives
• Expansion of the packaging industry

Threats:

• Competition from alternative bonding methods
• Economic slowdowns and market instability

Market Key Trends

• Growing demand for bio-based adhesives
• Increasing focus on sustainability and environmental protection
• Rapid technological advancements
• Growing demand for lightweight vehicles

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the global adhesives market. The pandemic has led to supply chain disruptions, labor shortages, and reduced demand from end-use industries such as construction and automotive. However, the packaging industry has witnessed increased demand for adhesives due to the growing demand for packaged food and beverages. The market is expected to recover gradually as the pandemic subsides and economic activity resumes.

Key Industry Developments

• In January 2021, Henkel AG & Co. KGaA launched a new line of bio-based hot melt adhesives for the packaging industry.
• In October 2020, H.B. Fuller Company announced the acquisition of Adecol Ind. Quimica, a Brazilian adhesive manufacturer, to strengthen its presence in the Latin American market.
• In August 2020, Arkema Group launched a new line of bio-based adhesives for the automotive industry.

Analyst Suggestions

• Manufacturers should focus on developing bio-based adhesives to meet the growing demand for sustainable solutions.
• Manufacturers should focus on reducing the cost of adhesives to remain competitive in the market.
• Manufacturers should focus on developing adhesives that can withstand extreme environmental conditions and temperatures.

Future Outlook

The global adhesives market is expected to witness significant growth in the coming years, driven by increasing demand from end-use industries, growing demand for lightweight vehicles, and rapid technological advancements. The market is also expected to witness increasing demand for bio-based adhesives and sustainable solutions. The Asia Pacific region is expected to remain the largest market for adhesives, while the packaging industry is expected to witness significant growth in the coming years.

Conclusion

The global adhesives market is a rapidly growing industry that offers several advantages over traditional bonding methods. The market is expected to witness significant growth in the coming years, driven by increasing demand from end-use industries, growing demand for lightweight vehicles, and rapid technological advancements. Manufacturers should focus on developing bio-based adhesives and reducing the cost of adhesives to remain competitive in the market. The market is also expected to witness increasing focus on sustainability and environmental protection, as well as significant growth in the packaging industry.