NEWARK, Del, March 23, 2023 (GLOBE NEWSWIRE) -- The global industrial adhesives market is predicted to register a CAGR of 4.4% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 57,444 million in 2023 to US$ 85,786.4 million by 2033 end.
The industrial adhesives industry is being driven forward by the extensive application areas of the product. For instance, in the construction industry, the product is used for ceramic tile installation, floor tile and flooring installation, counter lamination, and carpet adhesives, among others.
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The product further finds application in consumer products like decorative films, model and hobby supplies, and school and stationery products, among various other application areas. Surging demand for the product from construction, consumer adhesives, tapes, packaging, and transportation, among others, and the high growth of the aforementioned sectors, are expected to have a positive influence on the industry growth.
The ongoing investigation of industrial adhesives for their environmental impact is making waves in the market space. As a result, emphasis is being made on the acquisition of environmentally safe and superior quality adhesives. Due to the adverse effect of synthetic compounds and the limited raw materials (oil reserves), renewable and natural resources offer an attractive alternative for the development of industrial adhesives.
Top Highlights from the FMI’s Analysis of the Industrial Adhesives Market:
- China’s industrial adhesives industry acquired a large share of the market in the historical period, and is projected to maintain its share in the forecast period as well. The market is expected to gain a total of US$ 28,413.1 million by 2033. In the following years, China market is expected to trail at a CAGR of 4.1%, significantly high than the other competitive regional markets.
- Second in line is the United States market, which is expected to stand at a valuation of US$ 11,440.8 million by 2033, registering a CAGR of 3.5% in the meantime.
- In Europe, Germany is predicted to emerge as a significant market, attaining a net worth of US$ 4,223.4 million by the end of 2033. Over the forecast period, the country is projected to assume a CAGR of 3.5%.
- On the basis of product type, acrylic is expected to be a top segment in the coming years. The acrylic segment is projected to expand at a CAGR of 5.3%, high than the growth rate of 4.6% CAGR observed in the historical period.
- Water-based technology is expected to be a prominent segment in the coming years. The technology is expected to thrive at 3.5% CAGR, up from the 3.3% CAGR displayed over recent years.
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Stay up-to-date with Recent Market Developments as Observed by FMI
- In December 2021, Meridian Adhesives Group shared that it has acquired American Sealants Inc., which is famous for its innovation in product assembly of adhesives and sealants. Such solutions have multitudinous applications in multiple markets and applications.
- In July 2022, Arkema revealed the strategic acquisition of Permoseal, which is a leading player in adhesive solutions for DIY, woodworking, packaging, and construction. The latter offers a wide portfolio of technical and sustainable solutions for different industry sectors.
Key Players as Profiled by FMI
- 3M
- Sika AG
- Dow Inc.
- Henkel AG & Co. KGaA
- H.B. Fuller Company
- Arkema S.A.
- Huntsman Corporation
- Teraoka Seisakusho co., Ltd.
- Pidilite Industries Limited
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Industrial Adhesives Market by Category
By Product Type:
- Acrylic Adhesive
- Epoxy Based Adhesive
- PVA
- Polyurethane
- EVA
- Others
By Technology:
- UV Cure Adhesive
- Pressure Sensitive Adhesive
- Water-based Adhesive
- Solvent Based Adhesive
- Hot Melt Adhesive
- Others
By End-use:
- Automotive & Aerospace
- Healthcare & Hygiene
- Consumer Goods
- Packaging
- Construction
- Electronics
- Furniture & Metalwork
- Glass Making
- Footwear
- Paper
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
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Table of Content
1. Executive Summary | Industrial Adhesives Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
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