Industrial Adhesive Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH2995 | Last Updated On: Jun 21 2022 | Available Formats

> Global Industrial Adhesive Market Expected to reach a high CAGR of 5% during the forecast period 2022-2029: DataM Intelligence

Global Industrial Adhesive Market is segmented By Type (Epoxy Adhesive, Acrylic Adhesive, Polyurethane Adhesive, Rubber Adhesive, Silicone Adhesive, Phenolic, Formaldehyde Resins, Others), By Properties (Hot Melt Adhesive, UV-curing Adhesive, Pressure Sensitive Adhesive, Solvent-Based Adhesive, Thermoset Adhesive, Others), By End User (Automotive Industries, Medical, Electrical & Electronics, Aerospace, Packaging, Furniture, Footwear, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2021-2029

 

Market Overview

The Global Industrial Adhesive Market is expected to grow at a CAGR of 5% during the forecasting period (2021-2029).

Industrial adhesives include compounds like organic and inorganic chemicals, which are used to join components. Adhesive Products include acrylic, epoxy, hot melt, polyurethane, silicone, thermoset, UV curing adhesives, and industrial sealants, which are used in fastening applications where industrial sealants are used to fill gaps between seams or on surfaces and contain fluids, prevent leaks, and prevent the infiltration of unwanted material. Moreover, the adhesive has the properties like flexibility, solvent-free, lower costs, less vibration, high fatigue & thermal shock tolerance, reduced waste, and increased productivity, which helps increase its application in the automotive industry. It is growing and replacing conventional materials like fasteners used indoors, hoods, deck lid flanges, roof panels, and other automobile components.

Market Dynamics

The growing packaging, automotive, infrastructure construction, and woodworking are factors for the growth of the industrial adhesives market. The innovation and technological advancement for better industrial adhesive products will also drive industrial adhesive demand in the forecast period. Technological progress is also likely to influence the cost of industrial adhesives products. Moreover, government regulations regarding products with less VOC (Volatile organic compounds) content ham growth per the industrial market's growth.  Besides, adhesive bonding is the technology that has reduced the time and costs required for automotive bond components and reduced overall weight & fuel consumption, and improved efficiency. Besides, the growth in demand for packaging from various end-use industries like pharmaceuticals, food & beverages, and cosmetics will also drive the market growth in the forecast period.

However, developing industrial adhesives includes considerable R&D and investment for new products/innovations. A sudden demand for lightweight vehicles with low emissions content is a significant opportunity for industrial adhesives in the forecast period. Besides, fluctuating prices of raw materials also affect the growth of industrial adhesives.

Segment Analysis

By type, the market is segmented into the acrylic adhesive, epoxy adhesive, polyurethane adhesive, rubber adhesive, silicone adhesive, phenolic, melamine, formaldehyde resins, and others. By properties, the market is segmented into UV curing adhesive, thermoset adhesive, pressure-sensitive adhesive, hot melt adhesive, water-based adhesive, solvent-based adhesive, and others. The market is segmented into building and woodworking, packaging, pressure-sensitive products, aerospace, medical, electrical and Industrials, furniture, footwear, automotive industry, and others by end-user.

Epoxy adhesives are divided into two-part adhesives which cure upon mixing the two components) and one-part adhesives that cure with temperature. This generally has the highest strength and overall performance and provides the best resistance to high temperatures, solvents, and outdoor weathering. Besides, they also adhere well to metals, woods, and concrete, and the flexible epoxy adhesives also bond to some plastics and rubbers. This type of adhesive usually requires clean, abraded surfaces to obtain maximum bond strength.

Whereas acrylic adhesives are also divided into two-part adhesives, excellent bond strength and durability are slightly lower than epoxy adhesives. Besides, urethane adhesives are also divided into two-part adhesives, which are relatively flexible when cured and tend to have excellent impact resistance and good adhesion to most plastics, wood, rubbers, and concrete. Among all, wood, rubbers, and concrete reduced the opposition to solvents and high temperatures.

However, several features make this adhesive easy to use in many applications and manufacturing processes. However, their benefits include higher tolerance for oily or unprepared bonding surfaces, faster cure speed, and the ability to bond various materials.

But nowadays, acrylic adhesive formulations are being formed, stable at room temperature with a long shelf life, and some have a much lower odour than regular acrylic adhesives.

Geographical Analysis

The Asia Pacific has massive growth in the industrial adhesive market due to industrialization and infrastructural development.  Moreover, the major companies are shifting to this region like automobile companies for production due to cheap labour, the manufacturing sector's growth, and the high economic rate factor for developing the industrial adhesive market. Besides, the furniture market is expected to grow in the industrial adhesives market in the forecast period. The increase is expected due to rising population growth and urbanization.

The market demand for industrial adhesives in the regions like North America and Europe is likely to increase in the future years due to the heavy investment by key manufacturers to develop bio-based alternatives. North America is expected to have grown due to the increasing demand of the packaging industry. Europe and other regional players are also anticipated to boost the industrial adhesive market in the forecast period. Production of motor vehicles in these regions is the factor of increasing growth. In the LAMEA region, industrial adhesives will grow due to increased construction activities in Brazil, UAE, Saudi Arabia, and Africa.

Industrial Adhesive Market Competitive Landscape

The industrial adhesive market is a moderated fragmented with the presence of regional and players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. Dow Chemical Company, 3M Company, BASF SE, Ashland Inc., H.B Fuller, Huntsman Corporation, Mitsubishi Industries Limited, Henkel AG, Du Pont De Nemours and Company, Pidilite Industries Limited are the major player in the adhesive market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the industrial adhesive market globally.

DELO Industrial Adhesive

The DELO Industrial Adhesive has recently worked on the innovation of the adhesive market. The first innovation: As we know, adhesives play a crucial role in the design and manufacturing of optoelectronic packages. They are indispensable to the long-lasting function and uniform brightness of the diodes and permit production in the space of a second. The prerequisite, however, is that the adhesives are precisely tailored to the relevant application area. DELO has developed special adhesives both for first-level packaging. The adhesive is located near the semiconductor and for second-level packaging, in which the focus is on reliably bonding lenses and housing. In standard tests and implementation by customers worldwide yield outstanding results and satisfy packaging manufacturers' high requirements. Manufacturing ever-smaller optoelectronic packages are one of the requirements. Flip-chip technology, and thus the use of conductive adhesives, unlocks new possibilities for manufacturers in this respect.

DEOL second innovation was on adhesives for first-level packaging in optoelectronics: DELO DUAL BOND - Long-lasting high reliability: minimum outgassing, yellowing resistance, and high-temperature resistance - Swift processes: easy dispensing and integration into production processes, optimum curing, fast prefixing with light possible - Additional qualities: low-temperature impact via a light or heat curing at low temperatures, reflow resistance, precise optical products available Tension-equalizing adhesives for second-level packaging in optoelectronics: DELO PHOTOBOND -  Resistance against ageing: low outgassing, low yellowing. Permanent bonding: tension-equalizing, humidity-, vibration- and temperature resistance, universally good adhesion. Processing advantages: light curing within a few seconds, different viscosity versions. Anisotropic conductive adhesives: DELO MONOPOX AC - Especially developed for flip-chip technology. Bonds ensure permanent contacting and high processing rates. For new and consistently improved products, such as mini-3D cameras for mobile phones, beamers for smartphones and 3D screens, and automotive light carpets, micro-optics are becoming more and more critical. With newly developed, fast-curing, and highly transparent imprint materials, DELO enables its customers to push forward these developments.

Additionally, materials with a refractive index allow for augmented reality headsets with a wide field of view. The lenses and micro-and nanostructures are produced by imprint lithography, providing a high UPH. Other adhesives are also available for wafer bonding.

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