High Performance Adhesives Market Insights, Trends & Growth Outlook 2022-2029

SKU: DM1989 | Last Updated On: Jun 22 2022 | Available Formats

> Global High Performance Adhesives Market Expected to reach at a high CAGR of 6.32% by 2029 | DataM Intelligence

Global High-Performance Adhesives Market is segmented By Technology (Water-Based, Solvent-Based, Hot-Melt), By Type (Polyurethane, Silicone, Epoxy, Acrylic, Others), By End User (Construction, Transportation, Packaging, Electronics & Electricals, Medical, Others (Leather & Footwear, Signage & Graphics)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "High-Performance Adhesives Market" is expected to grow at a high CAGR of 6.32% during the forecasting period (2022-2029).

High-performance adhesives products are used in various markets, including aerospace and defense, automotive, recreational vehicle, bus, truck and trailer, rail, marine, insulated glass, solar, wind, assembly, electrical, electronics, filter, printing, packaging, laminating, roofing and flooring. It has become a key technology element of various applications, especially in transportation, due to the constantly replacing traditional bonding or adhesion methods. 

These are ideal for applications that require high-speed manufacturing, bonding versatility, large gap filling, fast green strength, and minimal shrinkage. The high-performance adhesives market has been segmented into epoxy, silicone, polyurethane, and acrylic. Based on the end-user, the market is classified into construction, transportation, packaging, electronics & electrical, medical, etc. By technology, the high-performance adhesives market is segmented into water-based, solvent-based, and hot melt.

Market Dynamics

Rising demand for miniaturization and automation in the electronics industry and increasing demand for high-performance adhesives are the major driving factors for market growth. High-performance adhesives are broadly used in the electronics industry, construction sector, and automobile manufacturing. 53,550,000 vehicles were produced approximately in 2017 from the Asia Pacific region, which is more than 50% of automotive production globally.  Electronics production is increasing rapidly in the Asia-Pacific region, particularly in China and emerging economies, like, India and ASEAN countries. Henceforth, the demand for high-performance adhesives is briskly rising due to the quick growth in the manufacturing sector globally, especially in the Asia Pacific. 

However, Instability in raw material prices and stringent environmental regulations hinders the growth of the market.

Segment Analysis

Based on the end-user, the market is classified into construction, transportation, packaging, electronics & electrical, medical, etc. Others are again divided into leather & footwear and, signage & graphics. The global high-performance adhesives market size by end-user was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The transportation segment is expected to grab the major market share in the forecast period. The Transportation segment is quite extensive and includes thousands of applications in such areas as aircraft & aerospace, automotive module sealing using liquid gasket sealants, exterior vehicle trim, interior vehicle trim, marine, powertrain, and under-the-hood components, rail, and vehicle assembly.

The automotive industry uses advanced high-performance adhesives. These guarantee perfect hold overall, even under extreme conditions, including wind, rain or hailstorm, blistering heat in the summer, or bitter frost in the winter. Companies are launching high-performance adhesives products related to the transportation segment. Sika Corp has introduced an adhesive named Sikaflex®-953 for transportation and industrial assembly applications. The two-component, highly flexible, silane terminated polymer (STP) adhesive is reportedly designed for bonding applications.

By technology, the high-performance adhesives market is segmented into water-based, solvent-based, and hot melt.

By type, the high-performance adhesives market is segmented into polyurethane, silicone, epoxy, acrylic, and others.

Geographical Analysis

The Asia Pacific high-performance adhesives market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.  Rising automobile production combined with an improved reception of advanced materials is the major driving factor for the market growth. For instance, The Indian auto industry became the 4th largest globally, with sales increasing 9.5 % year-on-year to 4.02 million units (excluding two-wheelers) in 2017. It was the 7th largest manufacturer of commercial vehicles in 2018.

The foundation of commercial aircraft assembly plants in the Asia Pacific is the other key driving factor for the growth of the high-performance adhesives market. For instance, in 2017, US aircraft giant Boeing has set up its first overseas factory in eastern China to deliver 100 Boeing 737 planes a year. Boeing and Chinese aviation manufacturer Commercial Aircraft Corporation of China Ltd (COMAC) has started building a Boeing 737 completion center in Zhoushan.

Competitive Landscape

The high-performance adhesives market is competitive with existing players in the market.
Some of the major players include 3M, Sika Corp, Royal Adhesives & Sealants, LLC, Delo Industrial Adhesives, LLC, Parson Adhesives, Inc., Loxeal Engineering Adhesives, Huntsman International LLC., Lord Corporation, Mapei Corporation, Master Bond Inc., Dymax Corporation and Hernon Manufacturing Inc.

The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions, contributing to the growth of the High-Performance Adhesives Market.

In June 2019, Henkel expanded its portfolio by launching an adhesive solution called Loctite Liofol LA 2798 for high-performance packaging applications.

In June 2017, Mactac Technical Tapes Products launched its latest high strength transfer adhesive tapes, known as XT High-Performance Rubber Transfer Adhesives.

In 2017, US aircraft giant Boeing set up its first overseas factory in eastern China to deliver 100 Boeing 737 planes a year.

Sika Corp has introduced an adhesive named Sikaflex®-953 for transportation and industrial assembly applications. The two-component, highly flexible, silane terminated polymer (STP) adhesive is reportedly designed for bonding applications.

 

Trending Topics

Adhesives and Sealants Market

Wood Adhesives Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest