Industrial Adhesives Market By Type (Water-based Adhesives, Solvent-based Adhesives, Hot-melt Adhesives, Pressure Sensitive Adhesives (PSA), UV Curing Adhesives & Others), By Composition (Acrylic Resins, Epoxy Resins, Polyurethane, Rubber, Phenolic, Melamine & Formaldehyde Resins, Vinyl, Silicone & Others), By Form (Liquid, Paste, Film, Pellets & Tapes), By Substrate (Ceramic, Metals, Plastic, Wood, Glass, Paper & Others), By Component (One Component & Two Component), By Application (Composites, Glassware, Pump, Valve & Plumbing, Heat Exchangers, Medical Device Bonding, Consumer Electronics & Others), By End-use Industry (Transportation [Automotive (Passenger Vehicles, Light Commercial Vehicles & Heavy Commercial Vehicles), Aerospace, Marine & Rail], Power & Energy (Wind Energy, Oil & Gas, Solar & Others), Building & Construction [Residential (Independent Homes, Row Homes & Large Apartment Buildings), Commercial (Hospital & Healthcare Infrastructure, Educational Institutes, Hotels & Restaurants, Banks & Financial Institutions, Airports, Hyper & Super Market, Shopping Malls & Others), Industrial & Infrastructural], Packaging (Food Packaging, Beverage Packaging, Personal Care & Cosmetic Packaging, Medical Packaging, Home Care Packaging & Others), Healthcare, Home Appliances, Furniture, Electronics, Leather Industry & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: CMR 0683 Report Format: PDF + Excel

Industrial Adhesives Market Overview

The Industrial Adhesives Market size is estimated to reach US$52.4 billion by 2027, after growing at a CAGR of 5.9% during the forecast period 2022-2027. Industrial Adhesives are used to bond substrates via cohesion and adhesion, including the composition of phenolic, acrylic, epoxy, polyurethane, silicone and others. The increase in the applicability of industrial adhesives in the automotive sector for strong bonding and adhesion in the vehicle components is acting as a driving factor in the industrial adhesives industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), global automotive production increased from 77,621,582 units in 2020 to 80,145,988 units in 2021. In addition, the preference for water-based adhesives over other types such as pressure-sensitive adhesives (PSA), solvent-based and others is rising, due to their environment-friendly features. These are also fueling the growth of the Industrial Adhesives Market. Furthermore, the major disruption caused by the COVID-19 outbreak impacted the growth of the Industrial Adhesives Market due to disturbance in manufacturing, supply chain disruption, falling demand from major end-use industries and other lockdown restrictions. However, significant recovery is boosting the demand for industrial adhesives for a wide range of applicability and utilization in construction, transportation, electronics and other sectors. Thus, the Industrial Adhesives industry is anticipated to grow rapidly and contribute to the Industrial Adhesives Market size during the forecast period.

Industrial Adhesives Market Report Coverage

The “Industrial Adhesives Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Industrial Adhesives Industry.

By Type: Water-based Adhesives, Solvent-based Adhesives, Hot-melt Adhesives, Pressure Sensitive Adhesives (PSA), UV Curing Adhesives and Others.
By Composition: Acrylic Resins, Epoxy Resins, Polyurethane, Rubber, Phenolic, Melamine and Formaldehyde Resins, Vinyl, Silicone and Others.
By Form: Liquid, Paste, Film, Pellets and Tapes.
By Substrate: Ceramic, Metals, Plastic, Wood, Glass, Paper and Others.
By Component: One Component and Two Component.
By Application: Composites, Glassware, Pump, Valve and Plumbing, Heat Exchangers, Medical Device Bonding, Consumer Electronics and Others.
By End-use Industry: Transportation [Automotive (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles), Aerospace, Marine and Rail], Power & Energy (Wind Energy, Oil & Gas, Solar and Others), Building & Construction [Residential (Independent Homes, Row Homes and Large Apartment Buildings), Commercial (Hospital & Healthcare Infrastructure, Educational Institutes, Hotels & Restaurants, Banks & Financial Institutions, Airports, Hyper and Super Market, Shopping Malls and Others), Industrial and Infrastructural], Packaging (Food Packaging, Beverage Packaging, Personal Care & Cosmetic Packaging, Medical Packaging, Home Care Packaging and Others), Healthcare, Home Appliances, Furniture, Electronics, Leather Industry and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and the Rest of the Middle East) and Africa (South Africa, Nigeria and the Rest of Africa)].

Key Takeaways

  • Asia-Pacific dominates the Industrial Adhesives Market, owing to growth factors such as the flourished base for the transportation sector, construction sector and surging packaging demand, thereby boosting growth in this region.
  • The flourishing construction sector across the world is propelling the demand for Industrial Adhesives for major utilization in wall covering, roofing, flooring and others, thereby influencing the growth of the Industrial Adhesives Market size. According to Oxford Economics, the global construction output in 2020 accounted for US$ 10.7 trillion and is projected to grow by 42% to reach US$15.2 trillion between 2020 and 2030.
  • However, the restrictions on solvent-based adhesives act as challenging factors in the global Industrial Adhesives industry.

Figure: Industrial Adhesives Market Revenue Share by Geography, 2021 (%)

Industrial Adhesives Market

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Industrial Adhesives Market Segment Analysis – by Composition

The acrylic resins segment held a significant share of the Industrial Adhesives Market in 2021 and is projected to grow at a CAGR of 5.5% during the forecast period 2022-2027. The acrylic segment is lucratively expanding over other composition types such as epoxy, polyurethane, silicone, vinyl and others, owing to its excellent physical attributes and dominant demand across major industries. With the flourishing growth scope, the acrylic resin segment is anticipated to grow rapidly in the Industrial Adhesives Market during the forecast period.

Industrial Adhesives Market Segment Analysis – by End-use Industry

The packaging segment held a significant Industrial Adhesives Market share in 2021 and is projected to grow at a CAGR of 6.4% during the forecast period 2022-2027. Industrial Adhesives based on water-based technology, pressure-sensitive adhesives (PSA), solvent-based and others have a wide range of applications in the packaging sector for labeling, food packaging, carton sealing, medical packaging and others. The packaging industry is rapidly growing due to factors such as high demand for packaged products, changing lifestyles and rising income. According to the Flexible Packaging Association (FPA), the flexible packaging sector in the U.S. is estimated to reach sales of US$39 billion compared to US$34.8 billion in 2020. Furthermore, with the increasing utilization of industrial adhesives, majorly in food packaging applications, the growth scope for industrial adhesives in the packaging industry is anticipated to grow enormously over the forecast period.

Industrial Adhesives Market Segment Analysis – by Geography

Asia-Pacific held the largest share of up to 42% in the Industrial Adhesives Market in 2021. The lucrative growth scope for industrial adhesives in this region is influenced by the established base for the transportation sector, surging construction projects and urbanization trends. The transportation sector, comprising of automotive, aerospace, marine and rail, is significantly growing in APAC due to growth factors such as rising logistics and vehicle production, urbanization and rising income levels. According to the India Brand Equity Foundation (IBEF), the revenue growth of the Indian locomotive sector increased from US$16.89 billion in 2021 to US$23.30 billion in 2022. According to the Japan Automobile Manufacturers Association (JAMA), car production in Japan increased from 6,67,462 units in October to 6,90,311 units in November. With the robust growth scope for the transportation sector, the utilization of industrial adhesives for hoods, roof panels, dashboards and others is rising. This, in turn, is anticipated to boost its growth scope in the Asia-Pacific region during the forecast period.

Industrial Adhesives Market Drivers

Bolstering Growth of the Building & Construction Sector:

Industrial Adhesives based on water-based, solvent-based, pressure-sensitive adhesives (PSA) and others have a wide range of applicability in the building and construction sector for roofing, flooring, glass, walls and others to offer maximum adhesion and cohesion. The building and construction industry is significantly growing because of the growth factors such as rising residential and infrastructural projects, demand for green buildings and industrialization. According to the National Investment Promotion & Facilitation Agency, the Indian construction industry is expected to reach US$1.4 trillion by the year 2025. According to the European Construction Industry Federation (FIEC), construction activity increased by 10.3% in volume in France for 2021 compared to 2020.

Flourishing Growth of the Electronics Sector:

Industrial Adhesives have significant demand in the electronics sector for a wide range of applicability in electronic devices such as PCBs, optic cable connections and others. The electrical & electronics sector is rapidly flourishing due to growth factors such as a rise in consumer electronics manufacturing, demand for smart home appliances and rising income level. According to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment in Japan increased from US$215 million in January 2022 to US$230 million in March 2022. According to the LG Electronics annual report, the sales of electronic appliances increased by 28.7% to reach US$65.32 billion in 2021 over 2020. Thus, with the rapid increase in electronics production and growth scope, the applicability of Industrial Adhesives in various electronic devices is growing, this, in turn, is driving the Industrial Adhesives industry.

Industrial Adhesives Market Challenge

Restrictions on the Usage of Solvent-based Adhesives:

The stringent rules and regulations regarding solvent-based adhesives due to high volatile organic compound (VOCs) content act as a challenging factor in the global Industrial Adhesives Market. Various authorities such as the US EPA, Epoxy Resin Committee (ERC), European Commission (EC) and others are governing the manufacturing of solvent-based adhesives to reduce VOC emission. It is because of such restrictions and regulations that the demand faces a slowdown. Thus, the Industrial Adhesives Market anticipates a major restraint to its growth.

Industrial Adhesives Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Adhesives Market. The 10 companies in the Industrial Adhesives Market are:

  1. Hitachi Chemical Company
  2. Royal Adhesive & Sealants
  3. Cargill Inc.
  4. Bayer Material Science
  5. Toyo Polymer Co. Ltd.
  6. Ashland Inc.
  7. Cytec Industries
  8. Solvay
  9. BASF SE
  10. Bostik

Recent Developments

  • In February 2022, Arkema finalized the acquisition of Ashland's performance adhesives business, offering a wide range of products in flexible packaging solutions.
  • In April 2020, DOW launched the fast-curing silicone adhesives that offered a wide application range in electronics, automotive and others. The DOWSIL EA-3838 fast adhesive offers high bonding and sealing for components with diverse thermal expansion.
  • In September 2020, Bostik inaugurated the latest Industrial Adhesives plant in Japan, targeting applications in packaging, labeling, transportation and electronics, thereby boosting growth scope across the world.

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1. Industrial Adhesives Market - Market Overview
    1.1 Definitions and Scope
2. Industrial Adhesives Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Composition
    2.3 Key Trends by Form
    2.4 Key Trends by Substrate
    2.5 Key Trends by Component
    2.6 Key Trends by Material
    2.7 Key Trends by Application
    2.8 Key Trends by End-use Industry
    2.9 Key Trends by Geography
3. Industrial Adhesives Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Industrial Adhesives Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Industrial Adhesives Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Industrial Adhesives Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Industrial Adhesives Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Industrial Adhesives Market – by Type (Market size – US$ Million/Billion)
    8.1 Water-based Adhesives
    8.2 Solvent-based Adhesives
    8.3 Holt-melt Adhesives
    8.4 Pressure Sensitive Adhesives (PSA)
    8.5 UV Curing Adhesives
    8.6 Others
9. Industrial Adhesives Market – by Composition (Market size – US$ Million/Billion)
    9.1 Acrylic Resins
    9.2 Epoxy Resins
    9.3 Polyurethane
    9.4 Rubber
    9.5 Phenolic, Melamine and Formaldehyde Resins
    9.6 Vinyl
    9.7 Silicone
    9.8 Others
10. Industrial Adhesives Market – by Form (Market size – US$ Million/Billion)
    10.1 Liquid
    10.2 Paste
    10.3 Film
    10.4 Pellets
    10.5 Tapes
11. Industrial Adhesives Market – by Substrate (Market size – US$ Million/Billion)
    11.1 Ceramic
    11.2 Metals
    11.3 Plastic
    11.4 Wood
    11.5 Glass
    11.6 Paper
    11.7 Others
12. Industrial Adhesives Market – by Component (Market size – US$ Million/Billion)
    12.1 One-Component
    12.2 Two-Component
13. Industrial Adhesives Market – by Material (Market size – US$ Million/Billion)
    13.1 Natural
    13.2 Synthetic
14. Industrial Adhesives Market – by Application (Market size – US$ Million/Billion)
    14.1 Composites
    14.2 Glassware
    14.3 Pump, Valve and Plumbing
    14.4 Heat Exchangers
    14.5 Medical Device Bonding
    14.6 Consumer Electronics
    14.7 Others
15. Industrial Adhesives Market - by End-use Industry (Market Size - US$ Million/Billion)
    15.1 Transportation
        15.1.1 Automotive
            15.1.1.1 Passenger Vehicles 
            15.1.1.2 Light Commercial Vehicles 
            15.1.1.3 Heavy Commercial Vehicles 
        15.1.2 Aerospace
        15.1.3 Marine
        15.1.4 Rail
    15.2 Power & Energy
        15.2.1 Wind Energy
        15.2.2 Oil & Gas
        15.2.3 Solar
        15.2.4 Others
    15.3 Building & Construction
        15.3.1 Residential
            15.3.1.1 Independent Homes
            15.3.1.2 Row Homes
            15.3.1.3 Large Apartment Buildings
        15.3.2 Commercial
            15.3.2.1 Hospital & Healthcare Infrastructure
            15.3.2.2 Educational Institutes
            15.3.2.3 Hotels & Restaurants
            15.3.2.4 Banks & Financial Institutions
            15.3.2.5 Airports
            15.3.2.6 Hyper and Super Market
            15.3.2.7 Shopping Malls
            15.3.2.8 Others
        15.3.3 Industrial
        15.3.4 Infrastructural
    15.4 Packaging
        15.4.1 Food Packaging
        15.4.2 Beverage Packaging
        15.4.3 Personal Care & Cosmetics Packaging
        15.4.4 Medical Packaging
        15.4.5 Home Care Packaging
        15.4.6 Others
    15.5 Healthcare
    15.6 Home Appliances
    15.7 Furniture
    15.8 Electronics
    15.9 Leather Industry
    15.10 Others
16. Industrial Adhesives Market - by Geography (Market Size - US$ Million/Billion)
    16.1 North America
        16.1.1 The USA
        16.1.2 Canada
        16.1.3 Mexico
    16.2 Europe
        16.2.1 The UK
        16.2.2 Germany
        16.2.3 France
        16.2.4 Italy
        16.2.5 The Netherlands
        16.2.6 Spain
        16.2.7 Belgium
        16.2.8 The Rest of Europe
    16.3 Asia-Pacific
        16.3.1 China
        16.3.2 Japan
        16.3.3 India
        16.3.4 South Korea
        16.3.5 Australia and New Zealand
        16.3.6 Indonesia
        16.3.7 Taiwan
        16.3.8 Malaysia
        16.3.9 The Rest of APAC
    16.4 South America
        16.4.1 Brazil
        16.4.2 Argentina
        16.4.3 Colombia
        16.4.4 Chile
        16.4.5 The Rest of South America
    16.5 The Rest of the World
        16.5.1 The Middle East
            16.5.1.1 Saudi Arabia
            16.5.1.2 The UAE
            16.5.1.3 Israel
            16.5.1.4 The Rest of the Middle East
        16.5.2 Africa
            16.5.2.1 South Africa
            16.5.2.2 Nigeria
            16.5.2.3 The Rest of Africa
17. Industrial Adhesives Market – Entropy
    17.1 New Product Launches
    17.2 M&As, Collaborations, JVs and Partnerships
18. Industrial Adhesives Market – Industry/Competition Segment Analysis Premium
    18.1 Company Benchmarking Matrix – Major Companies
    18.2 Market Share at Global Level - Major companies
    18.3 Market Share by Key Region - Major companies
    18.4 Market Share by Key Country - Major companies
    18.5 Market Share by Key Application - Major companies
    18.6 Market Share by Key Product Type/Product category - Major companies
19. Industrial Adhesives Market – Key Company List by Country Premium Premium
20. Industrial Adhesives Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    20.1 Company 1
    20.2 Company 2
    20.3 Company 3
    20.4 Company 4
    20.5 Company 5
    20.6 Company 6
    20.7 Company 7
    20.8 Company 8
    20.9 Company 9
    20.10 Company 10 and more
* "Financials would be provided to private companies on best-efforts basis."
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