The Global Specialty Adhesives Market size is expected to reach $6.3 billion by 2030, rising at a market growth of 4.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,343.17 Kilo Tonnes, experiencing a growth of 3.8% (2019-2022).
The Asia Pacific region is experiencing a construction boom, with ongoing infrastructure projects, urban development, and residential construction driving demand for these adhesives in applications such as flooring, tiling, insulation, and waterproofing. Therefore, the Asia Pacific region captured $2,078.90 million revenue in the market in 2022. Also, the China market generated 648.96 kilo tonnes in 2022. Additionally, with a growing middle class and increasing consumer spending, the Asia Pacific region has a rising demand for consumer goods such as appliances, furniture, and electronics.
The shift towards lightweight materials drives the market. Industries increasingly adopt advanced materials like carbon fiber composites, aluminum alloys, and thin films to reduce weight, enhance performance, and improve sustainability. These adhesives contribute to sustainability by enabling lightweight materials in eco-friendly products and green building solutions, aligning with regulatory mandates and corporate sustainability goals. Hence, the growing shift towards lightweight materials drives the market's growth.
Electric vehicles incorporate lightweight materials such as aluminum, carbon fiber composites, and high-strength steel to optimize efficiency and range. The number of new ZEVs registered continued to increase, up 43.2% year over year. Similarly, as per the National Investment Promotion & Facilitation Agency, the EV industry is expected to grow at a rate of 49% between 2022 and 2030. Thus, the growing adoption of electric vehicles (EVs) globally propels the market's growth.
However, to achieve optimal bonding performance, many adhesives require specific application techniques and equipment, such as precision dispensing systems, curing ovens, or controlled environments. Developing custom solutions, conducting feasibility studies, and performing compatibility tests contribute to the complexity of application processes. Thus, complex application processes are hindering the growth of the market.
The Asia Pacific region is experiencing a construction boom, with ongoing infrastructure projects, urban development, and residential construction driving demand for these adhesives in applications such as flooring, tiling, insulation, and waterproofing. Therefore, the Asia Pacific region captured $2,078.90 million revenue in the market in 2022. Also, the China market generated 648.96 kilo tonnes in 2022. Additionally, with a growing middle class and increasing consumer spending, the Asia Pacific region has a rising demand for consumer goods such as appliances, furniture, and electronics.
The shift towards lightweight materials drives the market. Industries increasingly adopt advanced materials like carbon fiber composites, aluminum alloys, and thin films to reduce weight, enhance performance, and improve sustainability. These adhesives contribute to sustainability by enabling lightweight materials in eco-friendly products and green building solutions, aligning with regulatory mandates and corporate sustainability goals. Hence, the growing shift towards lightweight materials drives the market's growth.
Electric vehicles incorporate lightweight materials such as aluminum, carbon fiber composites, and high-strength steel to optimize efficiency and range. The number of new ZEVs registered continued to increase, up 43.2% year over year. Similarly, as per the National Investment Promotion & Facilitation Agency, the EV industry is expected to grow at a rate of 49% between 2022 and 2030. Thus, the growing adoption of electric vehicles (EVs) globally propels the market's growth.
However, to achieve optimal bonding performance, many adhesives require specific application techniques and equipment, such as precision dispensing systems, curing ovens, or controlled environments. Developing custom solutions, conducting feasibility studies, and performing compatibility tests contribute to the complexity of application processes. Thus, complex application processes are hindering the growth of the market.
By End-Use Analysis
On the basis of end-use, the market is segmented into aerospace, automotive, construction, marine, and others. The marine segment held a 10.1% revenue share in the market in 2022. In terms of volume, the marine segment would consume 246.62 kilo tonnes by 2030. are used for bonding fiberglass and composite materials in boat construction and repair. These adhesives provide strong and durable bonds between hulls, decks, bulkheads, and other structural components, ensuring the integrity and stability of the vessel.
By Product Analysis
Based on product, the market is divided into polyvinyl acetate, polyurethane, acrylic, cyanoacrylates, and others. The polyurethane segment procured a 24.98% revenue share in the market in 2022. In terms of volume, the polyurethane segment would register 535.59 kilo tonnes by 2030. Polyurethane adhesives exhibit flexibility and toughness, allowing them to withstand dynamic loads, vibrations, and movement without compromising bond integrity. This makes them ideal for applications requiring resistance to impact, shock, and thermal cycling.By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America segment generated a 26.02% revenue share in the market. In terms of volume, the North America segment would register 246.62 kilo tonnes by 2030. North America is home to advanced manufacturing industries such as automotive, aerospace, electronics, and healthcare. These industries rely heavily on these adhesives for bonding, sealing, and assembly applications, driving significant demand for high-performance adhesives in the region.Recent Strategies Deployed in the Market
- Sep-2023: Bostik S.A. launched Bio-based HMAs, adhesive materials derived from renewable biological resources, offering environmentally friendly alternatives to traditional petroleum-based adhesives. These adhesives are formulated to address the growing need for eco-friendly materials in the production of technical textiles, automotive interiors, filters, electronics, footwear, and various other applications.
- Sep-2022: Henkel AG & Company, KGaA took over the Thermal Management Materials business of Nanoramic Laboratories, a technology company pioneering advanced materials and energy storage solutions for various industries. Through this acquisition, Thermexit enhances Henkel's current portfolio by introducing products in rapidly expanding market segments, amplifying the value proposition for their customers.
- Jun-2021: H.B. Fuller Company came into partnership with Covestro, a leading global supplier of high-tech polymer materials, serving industries ranging from automotive and construction to electronics and healthcare. Through this partnership, both companies would accelerate the development to provide an adhesive with minimized environmental footprint for use in woodworking, composites, textiles, and automotive sectors.
- May-2021: Bostik S.A. acquired Edge Adhesives Texas, a leading manufacturer of high-performance adhesive solutions for various industrial applications. Through this acquisition, Bostik would expand its footprint in high-performance adhesives in the United States to broaden adhesive capabilities and introduce fresh products to address growing market needs.
List of Key Companies Profiled
- 3M Company
- Henkel AG & Company, KGaA
- Bostik S.A. (Arkema S.A.)
- H.B. Fuller Company
- Pidilite Industries Ltd.
- Sika AG
- Permatex Inc. (Illinois Tool Works)
- Nexus Adhesives Pty Ltd
- Savare I.C. srl
- Specialty Adhesives and Coatings, Inc.
Market Report Segmentation
By Product (Volume, kilo Tonnes, USD Billion, 2019-2030)- Cyanoacrylates
- Acrylic
- Polyurethane
- Polyvinyl Acetate
- Others
- Construction
- Automotive
- Aerospace
- Marine
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Specialty Adhesives Market, by Product
Chapter 6. Global Specialty Adhesives Market, by End-Use
Chapter 7. Global Specialty Adhesives Market, by Region
Chapter 8. Company Profiles
Companies Mentioned
- 3M Company
- Henkel AG & Company, KGaA
- Bostik S.A. (Arkema S.A.)
- H.B. Fuller Company
- Pidilite Industries Ltd.
- Sika AG
- Permatex Inc. (Illinois Tool Works)
- Nexus Adhesives Pty Ltd
- Savare I.C. srl
- Specialty Adhesives and Coatings, Inc.
Methodology
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