Adhesives Market Scope and overview, Expected to Boost Moderately over 2030

The global adhesives market size was US$ 49.6 billion in 2021, which is expected to reach US$ 83.2 billion by 2030, registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030. Adhesives find their applications in various sectors, such as automotive, construction, etc. The product is used to combine components like the parts of wood, electronics, automotive, etc. 

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Factors Influencing the Market

Adhesives are increasingly adopted in the construction segment. The increasing number of construction activities is forecast to offer ample growth opportunities for the market.

Growing initiatives towards green building technology are likely to prompt the growth of the global adhesives market. The growing demands for efficient adhesives in green building technology will benefit the market. Franklin International introduced Titebond, a panel adhesive in 2019. This adhesive is used to make standard-sized panel installation easier.

The rising demand for lightweight automotive is forecast to surge the growth of the market. The automotive industry is growing at a neck-breaking speed. As a result, it will contribute to the global adhesives market growth. Adhesives are used to make automotive lighter, quieter, and safer as compared to mechanical fastening methods. Thus, the global adhesives market will grow rapidly during the study period.

The high use of petrochemicals in the manufacture of adhesives and other specialized chemicals may limit the growth of the global adhesives market during the forecast period.

COVID-19 Impact Analysis

The global adhesives market has been severely impacted due to the COVID-19 outbreak. The need for adhesives has dropped dramatically, owing to a drop in construction and manufacturing activities. In addition, the demand for building renovations, woodworking, and vehicles also reduced drastically. Thus, all of these factors have been significant reasons behind the sudden setback of the market. Furthermore, the scarcity of raw materials and the disruption of the supply chain are further limiting market expansion in the midst of the crisis.

Regional Analysis

Europe holds the highest share in the global adhesives market, owing to the growing number of construction activities. In addition, the rising demand for lightweight vehicles in Asia-Pacific is driving the growth of the Asia-Pacific adhesives market. Moreover, governments worldwide are focusing on promoting environment-friendly technology. Light-weight vehicles, being one of them, has a potential scope in the coming years. Thus, it will fuel the growth of the global adhesives market during the study period.

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Competitors in the Market

3M Company

Adhesives Research Inc.

Akzo Nobel N. V.

Arkema Group

Ashland Inc.

Avery Dennison Corporation

Delo Industrie Lebstoffe GMBH &Co. KGAA

DowDuPont Inc.

DYMAX Corporation

Franklin International

H B Fuller Company

Henkel AG & Co. KGaA

Huntsman Corporation

Illinois Tool Works Inc.

Jowat SE

Lord Corporation

Mapei Corporation

Master Bond Inc.

Meridian Adhesives Group

Pidilite Industries

PPG Industries

RPM International Inc.

Sika Group

Soudal Group

Wacher Chemie Ag.

Other Prominent Players

Market Segmentation

The global adhesives market segmentation focuses on Product, Technology, End-User, and Region.

Based on product 

Acrylic

Polyvinyl Acetate

Epoxy

Polyurethane

Ethyl Vinyl Acetate

Others

Based on technology-

Water-Based

Solvent-Based

Hot melt

Pressure Sensitive

Others

Based on end-user-

Automotive

Packaging

Electrical & Electronics

Building & Construction

Woodworking

Others

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Based on region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

Key questions answered in the Adhesives market report are:-

How does a global company acquire markets?

What are its core strategies and policies?

What factors will influence the Adhesives market over the forecast period?

What are the factors driving and restraining the market for Adhesives market?

What are the leading competitors in the global market?

Which region is growing at a higher pace in the global market?

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