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Jun 23, 2023

Industrial Adhesives Market size to grow by USD 20,557.09 million from 2022 to 2027

News provided by 31 Jul, 2023, 06:00 ET Share this article NEW YORK, July 31, 2023 /PRNewswire/ -- The industrial adhesives market is estimated to grow at a CAGR of 6.26% between 2022 and 2027. The

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NEW YORK, July 31, 2023 /PRNewswire/ -- The industrial adhesives market is estimated to grow at a CAGR of 6.26% between 2022 and 2027. The market size is forecast to increase by USD 20,557.09 million, according to Technavio. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report -Request a sample report

Industrial adhesives market – Vendor AnalysisVendor Landscape - The industrial adhesives market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer industrial adhesives in the market are 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 and others.

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Industrial Adhesives Market - Segmentation Assessment

Segment OverviewTechnavio has segmented the market based on End-user (Building and woodworking, Packaging, Transportation, Pressure-sensitive products, and Others), and Technology (Water-based adhesives, Solvent-based adhesives, Hot melt adhesives, and Reactive adhesives)

Geography OverviewBy geography, the industrial adhesives market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the industrial adhesives market.

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Industrial Adhesives Market – Market Dynamics

Key Driver

The increasing replacement of mechanical fasteners with industrial adhesives is a key factor driving market growth. Adhesives have become an integral part of many industrial applications. Increasingly complex manufacturing requirements and demand for advanced materials are making industrial adhesives more popular than traditional technologies. Furthermore, they are becoming a popular alternative to traditional methods such as mechanical fastening, welding, and other joining techniques. Adhesive bonding is an effective alternative to welding, offering benefits such as improved appearance, more uniform stress distribution, and improved strength performance. Therefore, the benefits of industrial adhesives are expected to drive market growth during the forecast period during the forecast period.

Major Trends

Continuous development of new products is a major trend in the market. Many vendors are getting inspired by the product development of some vendors to develop innovative products to remain competitive in the market. For example, Solvay SA launched a new series of adhesives for aerospace manufacturers. The product range includes the adhesive pastes AeroPaste 1009, 1006, and 1100 and the chromate-free primer BR 179. Therefore, the increasing industrial adhesives are expected to drive market growth during the forecast period.

Significant challenges

The rise in the price of industrial adhesives is a significant challenge restricting market growth. The cost of industrial adhesives is high, especially in price-sensitive markets like developing countries. These adhesives rely on petroleum and petrochemicals as their raw materials. Since oil prices can fluctuate, it directly impacts commodity prices and subsequently affects the profitability of those involved in the industry. Hence, the increasing prices is expected to drive market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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Industrial Adhesives Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.26%

Market growth 2023-2027

USD 20,557.09 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.68

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 47%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Technology

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

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