Industrial Adhesives Market Size, Share & Trends Report

Industrial Adhesives Market Size, Share & Trends Analysis Report By Product (Acrylic, Polyvinyl Acetate), By Application (Packaging, Construction, Automotive), By Region, And Segment Forecasts, 2015 - 2022

  • Published Date: Apr, 2016
  • Base Year for Estimate: 2014
  • Report ID: 978-1-68038-609-7
  • Format: Electronic (PDF)
  • Historical Data: 2012 - 2013
  • Number of Pages: 188

Industry Insights

The global industrial adhesives market demand was 9,400 kilotons in 2014 and is expected to witness growth on account of growing end-use industries and increasing demand for bio-based adhesives. These products are widely used across numerous industries such as packaging, construction, automotive, electrical and electronics, and medical devices.

Acrylic, epoxy, EVA, PVA, and other industrial adhesives are largely used in numerous bonding solutions on account of properties such as flexibility, better adhesion joints, and lesser cure time. These are increasingly replacing conventional fasteners in the packaging, construction, and automotive industries owing to superior product characteristics.

Germany industrial adhesives market

Adhesives are increasingly used to substitute metal fasteners in automobiles to reduce overall car weight and carbon emissions. Increasing R&D investments by major industry participants such as A.Schulman are also expected to improve overall production. This is processed by initiating strategic plans to reduce costs and promote fuel savings by utilizing adhesives in automobiles.

Regulatory policies play an essential role in the growth of the global industry. Federal and government agencies such as the U.S. Food and Drug Administration (FDA), National Highway Traffic Safety Administration (NHSTA), California Air Resources Board (CARB), and Scottish Environment Protection Agency (SEPA) constantly evolve, formulate, and establish environmental policies associated with the adhesive applications.

Increasing demand for high-speed assembly and manufacturing processes is further expected to complement the market growth. Development of bio-based adhesives is anticipated to meet increasing environmental concerns and boost market demand. The global industry is characterized by unstable raw material prices and supply. Political turmoil in Middle Eastern countries regarding crude oil production is further expected to affect supply and pricing dynamics over the forecast period.

Product Insights

On the basis of product, the market has been segmented into acrylic, polyvinyl acetate, epoxy, polyurethane, ethyl vinyl acetate, and others. Acrylic was the largest segment in 2014, accounting for 40.7% share of the overall volume. The segment is expected to maintain its lead over the forecast period.

Acrylic adhesives bond together different materials such as plastics and metals, improve aesthetics, and ensure a secure bond between oily or contaminated surfaces. Increasing construction spending in Asia Pacific and Middle East is expected to boost its consumption over the next few years.

Polyvinyl acetate was the second largest product segment and it was valued at USD 10.8 billion in 2014. These adhesives are widely used due to their properties such as high strength, creep resistance, fast setting speed, and water resistance. Growth of the furniture industry in the emerging economies of Asia Pacific is expected to positively influence product consumption over the forecast period.

Application Insights

On the basis of application, the industrial adhesives market has been segmented into automotive, construction, packaging, electrical and electronics, energy and utilities, medical devices, industrial machinery, and others. Packaging was the largest application segment, accounting for a revenue share of 30.6% in 2014. Increasing demand for frozen foods as well as flexible packaging and expanding food and beverage industries are likely to foster segment growth.

Global industrial adhesives market

Construction was the second largest application segment, accounting for a volume share of 16.2% in 2014.Strong economic development, coupled with population expansion, is expected to increase construction spending. Growing infrastructural development is anticipated to boost the market growth over the forecast period.

Automotive is anticipated to register a revenue-based CAGR of 4.1% over the forecast period. The growth is attributed to increasing investments in manufacturing facilities by major companies in countries such as China, India, Vietnam, and Thailand that possess favorable market conditions such as inexpensive labor and government incentives.

Regional Insights

Asia Pacific was the largest regional market in 2014 and it generated a revenue of USD 18.5 billion. The region is likely to maintain its lead over the forecast period. Increasing construction spending and economic growth in China, Indonesia, India, and Malaysia are expected to drive the regional demand over the forecast period.

Increasing demand for the products in Asia Pacific is propelling key players to establish new plants and expand their customer reach in the region. For example, in September 2013, Henkel inaugurated its new industrial adhesives plant in China to serve customers in the automotive industry and other consumer goods services in emerging Asian markets.

Development of bio-based adhesives is further likely to boost demand in North America and Europe. Government, environmental agencies, and manufacturers are constantly taking efforts to support the development of adhesives from bio-based sources. For instance, in January 2013, Henkel partnered with U.S.-based DaniMer Scientific to develop bio-based hot melt adhesives for consumer packaging.

Industrial Adhesives Market Share Insights

The global market is dominated by integrated companies that provide feedstock and final products to end-user industries such as OEMs, automotive, construction, electronics and electrical and packaging. The market has numerous manufacturers that maintain a dominant market share.

Key multinational companies include Henkel AG & Co.; Cytec Industries Inc.; Hitachi Chemical Co.; Mitsubishi Chemicals; The Dow Chemical Company; Covestro; Lord Corporation; Bayer Material Science; and Avery Denison Corp. Innovative product development, technological advancements, and resource optimization are crucial for industry participants to gain maximum share.

Report Scope

Attribute

Details

Base year for estimation

2014

Actual estimates/Historical data

2012 - 2013

Forecast period

2015 - 2022

Market representation

Revenue in USD Million, Volume in Kilotons, and CAGR from 2015 to 2022

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, U.K., Germany, France, China, India, Japan, and Brazil

Report coverage      

Revenue and volume forecast, company share, competitive landscape, growth factors and trends

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