Industrial Adhesives Market size is set to grow by USD 22.17 billion from 2024-2028, Increasing replacement of mechanical fasteners with industrial adhesives boost the market, Technavio

NEW YORK, June 10, 2024 /PRNewswire/ -- The global industrial adhesives market size is estimated to grow by USD 22.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.38%  during the forecast period. Increasing replacement of mechanical fasteners with industrial adhesives is driving market growth, with a trend towards rise in automation and implementation of industry 4.0. However, rise in price of industrial adhesives  poses a challenge. Key market players include 3M Co., Applied Products Inc., Arkema Group, Avery Dennison Corp., BASF SE, Beacon Adhesives Inc., Covestro AG, DuPont de Nemours Inc., H.B. Fuller Co., Henkel AG and Co. KGaA, Hernon Manufacturing Inc., Hexcel Corp., Hitachi Ltd., Huntsman International LLC, Jowat SE, Permabond LLC, Pidilite Industries Ltd, Sika AG, Solvay SA, and Wacker Chemie AG.

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Market Driver

The global industrial adhesives market is experiencing growth due to the increasing adoption of automation and Industry 4.0 principles. Automated manufacturing processes require adhesives that can integrate seamlessly, leading to a demand for rapid curing, high-strength, and robot-compatible adhesives.

IoT sensors and data analytics enable optimized adhesive usage and improved production efficiency, while smart manufacturing technologies facilitate predictive maintenance and minimize downtime. These trends are expected to significantly drive the industrial adhesives market during the forecast period. 

The industrial adhesives market is experiencing significant growth due to the increasing demand for bonding solutions in various industries. Substrates such as metals, plastics, and composites are commonly bonded using adhesives in sectors like automotive, construction, and electronics. Adhesives provide benefits like reducing weight, improving productivity, and enhancing product performance.

New technologies like hot melt adhesives, pressure-sensitive adhesives, and two-component adhesives are trending in the market. Additionally, the growing focus on sustainability is driving the development of eco-friendly adhesives. The future of the industrial adhesives market looks promising with continued innovation and increasing applications. 

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Market Challenges

•  The industrial adhesives market is projected to expand at a notable pace. However, this growth may be hindered by the high cost of industrial adhesives, particularly in price-sensitive markets like developing economies. The primary raw materials for industrial adhesives, such as silicone, polyurethane, ethylene vinyl acetate, and others, are derived from crude oil and petrochemicals.

•  The unpredictability of crude oil prices could influence the cost of raw materials, potentially impacting market profitability. Consequently, some leading manufacturers have raised the prices of industrial adhesives, which may decrease usage in price-conscious developing economies during the forecast period.

•  The Industrial Adhesives Market faces several challenges in the application of various adhesive types. These include the need for high bond strength in harsh environments, resistance to extreme temperatures and chemicals, and ensuring a fast curing time. Additionally, the demand for sustainable and eco-friendly adhesive solutions is increasing.

•  The use of non-woven materials, fabrics, and composites requires adhesives with specific properties. Furthermore, the cost-effectiveness and ease of application are crucial factors for manufacturers. The challenge lies in finding adhesives that meet all these requirements while maintaining a competitive price point. The market for polyurethane, acrylic, and epoxy adhesives continues to grow due to their versatility and performance in various industries.

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Segment Overview 

1. End-user 
• 1.1 Building and woodworking
• 1.2 Packaging
• 1.3 Transportation
• 1.4 Pressure-sensitive products
• 1.5 Others
2. Technology 
• 2.1 Water-based adhesives
• 2.2 Solvent-based adhesives
• 2.3 Hot melt adhesives
• 2.4 Reactive adhesives
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Building and woodworking-  The industrial adhesives market is experiencing steady growth, driven by increasing demand from various industries such as automotive, construction, and electronics. Key players in this market include 3M, Henkel, and H.B. Fuller. These companies are focusing on product innovation and expanding their geographical reach to meet the rising demand. Industrial adhesives are essential for bonding different materials, enhancing product performance, and ensuring durability. The market is expected to continue its expansion due to the growing trend of automation and the need for efficient manufacturing processes.

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Research Analysis

The Industrial Adhesives Market encompasses a wide range of products used for bonding various substrates in diverse industries. These adhesives include those based on Polyurethane, Epoxy, Vinyl, Acrylic, Water-based, and Solvent-based formulations. Cohesion and adhesion are crucial properties that determine the effectiveness of these adhesives in applications such as glass bonding, welding, and furniture manufacturing.

Non-woven Fabrics are often used as substrates in the production of these adhesives. Adhesives play a significant role in enhancing fuel economy by reducing the need for mechanical fasteners like rivets. Hot-melt Adhesives offer advantages such as quick curing and ease of application. Overall, the Industrial Adhesives Market caters to the demands of numerous sectors, offering solutions for bonding applications in automotive, construction, electronics, and more.

The Industrial Adhesives Market encompasses a diverse range of bonding agents employed in various industries for assembling, manufacturing, and repairing processes. These adhesives are essential in sectors such as automotive, construction, electronics, and packaging, among others. The market's growth is driven by factors like increasing industrialization, rising demand for lightweight and high-performance materials, and the need for efficient production processes.

The market offers a wide array of adhesive types, including epoxy, acrylic, silicone, and polyurethane, among others. These adhesives cater to different applications based on their unique properties, such as high strength, temperature resistance, and flexibility. The market's future outlook is promising, with significant opportunities in emerging economies and the ongoing trend towards sustainable and eco-friendly adhesive solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Building And Woodworking
• Packaging
• Transportation
• Pressure-sensitive Products
• Others
• Technology
• Water-based Adhesives
• Solvent-based Adhesives
• Hot Melt Adhesives
• Reactive Adhesives
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio