Adhesive Market Size to grow by USD 17.7 billion between 2024-2028
According to a research report “ Adhesive Market” by Application (Construction, Packaging, Furniture, Others) Type (Water based adhesive, Solvent based adhesive, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 17.7 billion, at a CAGR of 4.24% during the forecast period. The medical sector's increasing expenditure, driven by population growth and changing lifestyles, is fueling the demand for advanced adhesive solutions. In this context, adhesives are increasingly preferred over traditional fasteners in medical applications due to their superior performance. New adhesive technologies are rapidly emerging to cater to the reusable medical device market. These include engineering resins such as polyphenylene sulfide (PPS), polyolefins, and metals like aluminum, titanium, nickel, and stainless steel. Epoxy, silicones, polysulfides, and polyurethanes are among the medical adhesives in use, with epoxy and silicones being the most common. The adoption of these adhesives in medical devices, such as disposable electrocardiograph (ECG) electrodes and grounding plates, is expected to boost market growth during the forecast period..
Browse market data tables, figures, and in-depth TOC on “Adhesive Market” by Application (Construction, Packaging, Furniture, Others) Type (Water based adhesive, Solvent based adhesive, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the Construction segment is projected to dominate the market size in 2024
The adhesive market encompasses a broad range of products used to bond various materials together. These bonding agents play a crucial role in manufacturing processes, enhancing product performance and ensuring durability. Key market drivers include increasing industrialization, growing demand for lightweight and high-performance materials, and the expanding construction sector. Adhesive manufacturers focus on innovation and sustainability to meet evolving customer needs and regulatory requirements.
By Type, Water based adhesive segment is expected to hold the largest market size for the year 2024
The adhesive market encompasses a broad range of products utilized for bonding various substrates. These solutions cater to diverse industries, including manufacturing, construction, and consumer goods. Key market drivers include increasing demand for lightweight and durable products, growing automotive and construction sectors, and advancements in adhesive technology. Market size is projected to expand significantly, driven by these trends and increasing globalization.
APAC is forecasted to hold the largest market size by region in 2024
The adhesive market represents a significant business sector, characterized by continuous growth and innovation. Key players in this industry focus on delivering high-performance adhesive solutions to meet diverse application requirements. Advanced technologies, such as pressure-sensitive, hot melt, and two-component adhesives, are driving market expansion. Strategic collaborations and mergers & acquisitions further strengthen industry competition. Overall, the adhesive market presents lucrative opportunities for businesses seeking to optimize production processes and enhance product offerings.
The Adhesive Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The adhesive market encompasses a wide range of products used in various industries, including linerless labels, 3D modeling, and DIY residential sector. Key raw materials include resins, binders, alcohols, and solvents, which are used in the production of different types of adhesives such as UV cured, hot melt, reactive, and sustainable. In the labeling industry, linerless labels are gaining popularity due to their sustainability benefits. In the manufacturing process, 3D modeling helps in designing and testing adhesive applications before production. The transportation-related delays have affected the supply chain of some adhesive types, leading to increased demand for locally produced adhesives in industries like cleaning products and building and construction. The healthcare sector relies on adhesives for medical devices and packaging, while footwear and leather goods use a variety of adhesives, including solvent-borne and hot melt. Woodworking and joinery, aerospace, and automotive industries also heavily depend on adhesives for their production processes. Environmental regulations and CO2 emissions are driving the demand for sustainable adhesives, with bio-based alternatives gaining popularity. Adhesive manufacturers are also exploring reactive adhesives to reduce their carbon footprint. However, the transition to sustainable adhesives can be challenging due to the high cost and technical complexities involved.
Market Research Overview
The adhesive market encompasses a wide range of products used in various industries, including polyurethane adhesives, epoxy, silicone, acrylic, cyanoacrylate, and more. OEMs in sectors like lightweight vehicles, green building technology, and high-tech devices increasingly rely on adhesives for manufacturing processes. Polyurethane adhesives, derived from petrochemicals, are popular for their high strength and durability. They contain plasticizers, tackifiers, and solvents for improved performance. In contrast, water-borne and UV cured adhesives are sustainable alternatives, reducing CO2 emissions and aligning with environmental regulations. Adhesives find extensive applications in industries like transportation, cleaning products, and DIY residential sector. In the transportation industry, they are used in composite joints for cars, aircraft, and aerospace. In the building and construction sector, adhesives are essential for bonding linerless labels, 3D modeling, and creating sustainable building products. Bio-based alternatives, such as VAE or EVA, derived from renewable sources, are gaining popularity. These adhesives offer advantages like temperature resistance, impact resistance, and moisture resistance. Additionally, they cater to industries like healthcare, footwear and leather, and woodworking and joinery. Adhesives are also crucial in creating composite joints, bio-based adhesives, and chemical gases. Environmental regulations and the shift towards sustainable practices are driving innovation in the adhesive market, with a focus on reducing CO2 emissions and creating eco-friendly alternatives.
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