Industrial Adhesive Market Share

Industrial Adhesives Market Overview

The Industrial Adhesives Market was marked at a value of USD 41.47 billion and it is further expected to grow at a higher CAGR of 6.7% during the forecasted period to account for a higher market value share of approximately USD 53.37 billion by the end of the forecasted period.

The adhesives used to bond substrates via cohesion (internal strength) and via adhesion (surface bonding) are called industrial adhesives. It can be used in a variety of applications like the building and construction industry, automotive industry, healthcare industry, and packaging industry. They allow permanent assembly for dissimilar and similar substrates. It is largely used as glass bonding in automotive applications, interior exterior trim, structural fiber-reinforced plastic bonding, and structural metal bonding. 

COVID 19 Analysis

The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is worried about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted, resulting in a demand shrink for the Industrial Adhesives Market, which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.

However, the Industrial Adhesives Market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.

Market Dynamics

Drivers

Numerous factors drive the market demand in the Industrial Adhesives Market. Increasing stringent environmental rules and regulations coupled with increasing demand for industrial adhesives results in more demand for both solvent-based adhesives and water-based adhesives. As these are largely used in the automotive industry, aerospace industry, and construction industry and hence drives the market demand all across the globe during the review period. Moreover, it is used in the automobile industry for reducing the need for welding and rivets and to join interior parts.

Opportunities

The rise in the demand for Industrial Adhesives Market in the global market. Ongoing extensive research done by various major key players provides various growth opportunities in the global market during the forecasted period. Moreover, using these types of adhesives helps in the weight reduction of vehicles which helps in improving fuel economy all across the globe and hence provides various growth opportunities during the review period.

Restraints

Though the Industrial Adhesives Market is increasing tremendously in the global market, some factors restrict the market growth. Increasing stringent rules and regulations regarding the use of solvent-based adhesives restraints the market demand in the global market during the review period. Moreover, increasing fluctuations in oil prices are yet another restraining factor that hinders the market demand all across the globe during the forecasted period. Lack of awareness regarding the availability of these adhesives hampers the market growth in the global market.

Value Chain Analysis

The Industrial Adhesives Market is growing at an incredible rate globally due to various benefits associated with it. It helps in decreasing the weight of vehicles by approximately 10% which results in the reduction of fuel consumption by approximately 5-7%. Since increasing environmental issues and rising fuels prices is another factor that drives the market demand in the global market during the forecasted period. Moreover, the requirement of high-quality adhesion in various outer bodies components of aircraft is very much beneficial and hence provides various growth opportunities in the global market. These industrial adhesives are highly used in the construction industry and various other end-user industries as well.

Market Segmentation

The Industrial Adhesives Market has been divided all across the globe based on Type, Application, and Region.

Based on the Type

The Industrial Adhesives Market has been divided all across the globe based on the type into ethyl vinyl acetate type, polyurethane type, epoxy type, polyvinyl acetate type, acrylic type, and many others.

Based on the Application

The Industrial Adhesives Market has been divided all across the globe based on the application into medical devices, electronics and electrical industries, construction industries, automotive industries, and many others.

Based on the Region

The market has been divided in the Industrial Adhesives Market based on the region into North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and African region.

Regional Analysis

The Industrial Adhesives Market has been divided all across the globe based on the regions into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-growing region, the largest market share in the global market is held by the Asia-Pacific region owing to growing demand in the electronic industry and automotive industry that drives the market demand in this region. The presence of China is another major driving factor as it has a manufacturing hub that creates more demand in this region. Increasing development in the footwear industry is another contributing factor.

The second-largest market share in the Industrial Adhesives Market is held by the European region owing to the presence of well-established technologically advanced infrastructure that drives the market demand to this region. Moreover, increasing development in the automotive industry in various countries like Italy, France, and Germany is another contributing factor.

The third-largest market share in the Industrial Adhesives Market is held by the North American region owing to increasing development in the construction industry that drives the market demand to this region. Increasing construction of restaurants, malls, offices, and many other commercial buildings drives the market demand.

The Latin American region and the Middle East and African region hold the least Industrial Adhesives Market Share due to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.

Competitive Landscape

The Most Prominent Major Key Players in the Industrial Adhesives Market all across the globe are mentioned below:

• B Fuller Company (US)


• Pidilite Industries Ltd. (India)


• 3M (US)


• BASF SE (Germany)


• 
  Bostik (US)


• DowDuPont (US)


• Mitsubishi Chemical Corporation (Japan)


• Lord Corporation (US)


• Hitachi Chemical Co. Ltd. (Japan)


• Henkel AG & Co. KGaA (Germany)


• 
  Avery Dennison Corporation (US)


• Solvay (US)

These major key players use various strategies to sustain their market position in the Industrial Adhesives Market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the industrial adhesives all across the globe.

Recent Developments

• 
  December 2021 -Meridian Adhesives Group disclosed the closure of the acquisition of American Sealants Inc. ASI, based in Fort Wayne, Indiana, is known for the innovation of product assembly sealants and adhesives. These solutions have several applications in various markets and applications, including construction, residential and commercial building, transportation, DIY, and industrial. ASI is set to join Meridian's Industrial Division that caters to the product assembly, packaging, and flooring markets. The firm brings a wide product line and technology base to the Product Assembly category of the division.


• 
  December 2021 -Arkema disclosed the strategic acquisition of South Africa-based Permoseal, a prominent player in adhesive solutions for woodworking, DIY, construction, and packaging. Its famous brands, including Alcolin®, and its wide range of high-performance adhesive solutions are likely to match Bostik's offering in the region. The deal will result in strengthening Bostik's market positions in South Africa's and Sub-Saharan Africa's dynamic DIY, construction, and industrial markets. Permoseal provides a wide portfolio of sustainable and technical solutions for several industry sectors.


• 
  In July 2020, a company specialized in high-performance thermobonding adhesives powders called Fixatti has been acquired by Arkema Group. This acquisition will help the company in enhancing its product portfolio by diversifying in different markets.


• 
  In November 2020, US-based Huntsman Group’s subsidiary called Huntsman Advanced Materials Solution Private Ltd. (HAMSPL) has been acquired by Pidilite Industries Ltd for INR 2100 crore.


• Mitsubishi Chemical Corporation (Japan) is spending a huge sum of money on research and development to get an upper edge over its competitors. This will help the company in increasing its sales revenue.


• All the major key players are highly investing in mergers and acquisitions, joint ventures, and new product launches.


• Being the fastest-growing region, the largest market share in the global market is held by the Asia-Pacific region owing to growing demand in the electronic industry and automotive industry that drives the market demand in this region.


• 
  November 26, 2019 -Avery Dennison (the US), a global materials science and manufacturing company, announced the acquisition of the Transponder RFID Inlay business of Smartrac N.V. (the Netherlands), a manufacturer of high-security RFID inlays to drive its expansion into the intelligent labels market.

Report Overview

This Industrial Adhesive Market Research Report consists of the following elements mentioned below:

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Landscape


• Recent Developments

This market research report contains factors that drive the growth of the market in the global market along with the factors that restrict its growth in the global market. The opportunities available for growth in the market during the forecasted period are mentioned. The impact of COVID 19 on the Market all across the globe is mentioned. The future growth rate in the Industrial Adhesives Market during the forecasted period is estimated and mentioned.

Intended Audience

Nationalized laboratories, raw material suppliers, potential investors, research and development institutes, traders and distributors of industrial adhesives, Industrial Adhesives Manufacturers, and others.

Leading companies partner with us for data-driven Insights

Kindly complete the form below to receive a free sample of this Report