At 3.5% CAGR, Global High-Performance Adhesives Market Size & Share Worth USD 39.58 Billion | High-Performance Adhesives Industry Trends, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, June 15, 2022 /PRNewswire/ -- As per Zion Market Research study, The global high-performance adhesives market was worth around USD 30.42 billion in 2021 and is estimated to grow to about USD 39.58 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.5 percent over the forecast period. The report covers key drivers, restraints, and challenges for the high-performance adhesives market and their effect on the demands during the forecast period. Additionally, the report explores potential opportunities in the high-performance adhesives market.
Key Industry Insights & Finding of the High-Performance Adhesives Market Reports:
- As per the analysis shared by our research analyst, the High-Performance Adhesives Market is expected to grow annually at a CAGR of around 3.5 % (2022-2028).
- Through the primary research, it was established that the High-Performance Adhesives Market was valued approximately USD 30.42 Billion in 2021 and is projected to reach to roughly USD 39.58 Billion by 2028.
- The growing usage of these adhesives in the transportation, construction, and medical end-use industries is expected to provide new growth prospects for the market.
- Due to increased technical & infrastructural improvements and customer awareness in the area, Asia-Pacific accounts for a considerable portion of the global high-performance adhesives market.
- Research laboratories and manufacturers are collaborating to develop long-lasting, low-cost, high-performance adhesives and to improve the characteristics of these adhesives for end-user enterprises.
Zion Market Research published the latest report titled as 'High-Performance Adhesives Market By Resin Type (Epoxy, Polyurethane, Acrylic, Silicone, And Other Resin Types), By Technology Type (Solvent-Based, Water-Based, Hot-Melt, And UV Curable), By End-User Industry (Transportation, Packaging, Electrical & Electronics, Building & Construction, Healthcare, And Other End-User Industries), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.' into their research database.
High-Performance Adhesives Market: Overview
Adhesive bonding methods have reduced the time and cost of joining automobile components, lowering total weight and fuel consumption while increasing efficiency. Rising federal and state regulations on carbon emissions are expected to augment product uses in the automobile industry. The low curing time, high thermal resistance, good adhesion, more chemical tolerance, elasticity, and excellent water resistance are key factors driving the global high-performance adhesives market forward. Low costs, flexibility, solvent-free, high fatigue, less vibration, and thermal shock bearing, as well as reduced waste and high productivity, have all contributed to the product's increased use in the automobile industry. Traditional elements like fasteners used in dashboards, doors, roof panels, and deck lid flanges, as well as other car parts, are being largely replaced by the product.
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Industry Dynamics:
High-Performance Adhesives Market: Growth Drivers
- Increasing demand from several end-use industries is likely to drive market growth.
Over the next several years, the market is expected to grow at a rapid pace due to increased demand from the packaging industry and the growing automobiles segment, primarily in emerging markets. The market is expected to expand in the future due to rising packaging demands from various end-use industries such as pharmaceuticals, food & beverages, and cosmetics. Over the next several years, the product is expected to be driven by the expansion of the e-commerce commodities call, in which packaging is a big element. Polyols, vinyl acetate monomer, toluene, diisocyanate, and other crude oil derivatives are widely employed in the production of industrial adhesive raw materials. The global healthcare industry has been driven by a growing population, an increasing frequency of chronic illnesses, and important technological advancements. Furthermore, increased healthcare expenditures in developing nations are expected to increase the demand for medical equipment. Global population growth, along with an increase in severe illnesses and technological improvements, is increasing the high-performance adhesives industry.
High-Performance Adhesives Market: Restraints
- Fluctuation in raw material prices may hinder market growth.
Crude oil prices play a crucial role in the manufacturing of high-performance adhesives. However, the crude oil prices fluctuated due to several reasons in the past few years. The major factors played by the COVID-19 pandemic, along with those present conflicts between European nations and supply gaps from the Middle East region are primarily affecting the fluctuations in crude oil prices. The changes in the cost of crude oil negatively affect the raw material prices, hence resulting in high pricing of the product. This is probable to hamper the global high-performance adhesives market expansion over the future years.
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Global High-Performance Adhesives Market: Opportunities
- Increasing demand from the healthcare and aerospace sector is likely to offer better growth opportunities for the market growth.
High-performance adhesives have exceptional physical and mechanical qualities, making them ideal for use in elevated medical and aerospace applications. During the forecast period, strong demand from the aerospace and healthcare industries is expected to be a significant driver of the global market for high-performance adhesives. During the projected period, both of these end-user industrial categories are expected to increase rapidly. Furthermore, high-performance adhesives are used in both skin and non-skin areas in the medical industry. Owing to this, the medical section of the global high-performance adhesives market is expected to grow rapidly, thanks to an aging population and a growing focus on advanced healthcare treatments. The market for high-performance adhesives has a lot of room to grow owing to advances in the medical industry. The rising healthcare business is hence estimated to drive the industry for high-performance adhesives in the future years.
Global High-Performance Adhesives Market: Challenges
- Incompatibility with specific packaging applications poses a major challenge to market growth.
Since several adhesive manufacturers promise that their materials are suited for food packaging applications, the adhesive may merely fulfill the package's physical performance criteria without being evaluated for the application. Contamination caused by the use of untested adhesives in packaging and labeling can result in significant unfavorable media attention, litigation, long-term public condemnation, and irreversible harm to brand reputation. These factors affect the use of high-performance adhesives in many food packaging applications.
Global High-Performance Adhesives Market: Segmentation
- The global high-performance adhesives market is categorized into resign type, technology, end-user, and region.
Based on resin type, the market is fragmented into epoxy, polyurethane, acrylic, silicone, and others. The technology type segment of the market is bifurcated into solvent-based, hot-melt, water-based, and UV curable. The end-user segment is divided into transportation, packaging, healthcare, building & construction, electrical & electronics, and others.
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List of Key Players of High-Performance Adhesives Market:
- Royal Adhesives & Sealants
- Bostik
- Illinois Tool Works
- Pidilite Industries
- Sika AG
- Henkel AG & Co. KGaA
- Dow
- Jowat SE
- 3M
- Ashland
- Avery Dennison Corp
- Wacker Chemie AG.
Key questions answered in this report:
- What are the growth rate forecast and market size for High-Performance Adhesives Market?
- What are the key driving factors propelling the High-Performance Adhesives Market forward?
- What are the most important companies in the High-Performance Adhesives Market Industry?
- What segments does the High-Performance Adhesives Market cover?
- How can I receive a free copy of the High-Performance Adhesives Market sample report and company profiles?
Report Scope:
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Recent Developments:
- March 2022, Conagen, a biotechnology company, has announced the discovery of highly sought-after debondable hot melt adhesives built from high-performance polymers derived from natural and sustainable biomolecules.
- Sept 2021, Weir Minerals, the maker of Linatex, the world's most popular premium natural rubber, has teamed up with Henkel, the world's largest adhesive maker, and its team of LOCTITE sealant, adhesive, and coating experts to develop a mining industry-first solvent-free adhesive for rubber liner applications that emits no volatile organic compounds.
Regional Dominance:
- Asia Pacific to lead the global market growth during the forecast period.
Asia Pacific is the most extensive and fastest-growing regional market for high-performance adhesives. The growing usage of these adhesives in the transportation, construction, and medical end-use industries is expected to provide new growth prospects for the market. Furthermore, due to increased technical & infrastructural improvements and customer awareness in the area, Asia-Pacific accounts for a considerable portion of the global high-performance adhesives market. Research laboratories and manufacturers are collaborating to develop long-lasting, low-cost, high-performance adhesives and to improve the characteristics of these adhesives for end-user enterprises. Moreover, rapid economic growth, manufacturing business development, low-cost labor availability, expanding end-use markets, and the global movement of manufacturing facilities from developed to developing countries are some of the biggest aspects propelling the high-performance adhesives market in Asia Pacific.
Global High-Performance Adhesives Market is segmented as follows:
High-Performance Adhesives Market: By Resin Type Outlook (2022-2028)
- Epoxy
- Polyurethane
- Acrylic
- Silicone
- Other Resin Types
High-Performance Adhesives Market: By Technology Outlook (2022-2028)
- Solvent-based
- Water-based
- Hot-melt
- UV Curable
High-Performance Adhesives Market: By End-User Outlook (2022-2028)
- Transportation
- Packaging
- Electrical and Electronics
- Building and Construction
- Healthcare
- Other
High-Performance Adhesives Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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