High-Performance Adhesives Market - Global Industry Analysis

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

Published Date: 29-Apr-2022 Category: Chemical & Materials Report Format : PDF Pages: 150 Report Code: ZMR-3384 Status : Published

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.

Description

Industry Prospective:

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.

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.

COVID-19 Impact:

With the worldwide shutdown of industries during FY 2020 and 2021, demand for high-performance adhesives reduced drastically which affected the overall market performance during the pandemic period. However, constant demand from healthcare sectors maintained the revenue flow into the market. Nevertheless, with the increasing importance of high-performance adhesives in the automobile and aerospace sectors the market is expected to return to its tract in full swing during the projected years.

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.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

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. 

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.

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.

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.

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.

High-Performance Adhesives Market: Regional Landscape

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.

High-Performance Adhesives Market: Competitive Landscape

Some of the major players operating in the global high-performance adhesives market include Royal Adhesives & Sealants, Bostik, Illinois Tool Works, Pidilite Industries, Sika AG, Henkel AG & Co. KGaA, Dow, Jowat SE, 3M, Ashland, Avery Dennison Corp, and Wacker Chemie AG.

Global high-performance adhesives market is segmented as follows:

By Resin Type

  • Epoxy
  • Polyurethane
  • Acrylic
  • Silicone
  • Other Resin Types

By Technology

  • Solvent-based
  • Water-based
  • Hot-melt
  • UV Curable

By End User

  • Transportation
  • Packaging
  • Electrical and Electronics
  • Building and Construction
  • Healthcare
  • Other

By Region

  • 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

Table Of Content

Methodology

Free Analysis

High-performance adhesives are pressure-sensitive products with high shear and tack and low soak-in for long-lasting bonds. They can form good adhesion to a wide range of materials and is suited for a variety of assembly applications. High-performance adhesives have superior properties and attributes such as high elasticity, high-temperature resistance, high tensile strength, low curing time, high durability, and excellent moisture resistance. The high-performance adhesives are commonly used in significant and difficult applications in which enhanced functionality of adhesives is highly required. Leading manufacturers of adhesives as well as the organizations are making considerable investments in R&D to develop durable, cost-effective high-performance adhesives in order to improve their attributes and properties for critical and complex applications in industries such as transportation, medical, automobile, aerospace, and defense industry.  
   
High-performance adhesives are experiencing the highest growth rate in developed as well as developing countries. The increase in demand for high-performance adhesives in various end-use industries such as an automobile, transportation, and others is predicted to fuel the growth of the market. The technological advancements are expected to propel the market growth and development. Leading manufacturers and organizations are significantly making investments to develop cost-effective and durable adhesives which will be feasible to undergo any kind of complex and critical applications. According to the International Council on Clean Transportation, new car registration procedure in Europe had increased to 14.45 million in 2016. The peak growth was achieved by the sports vehicle utility segment in which about 3.6 million new cars were SUVs. Thus, the escalating demand for automation in the electronic sector due to the increasing usage of complex parts in automobiles is expected to boost the market. Such factors are contributing to the high-performance adhesives market growth over the forecast period.

Global High Performance Adhesives Market

Based on the type, the high-performance adhesives market is segmented into the epoxy, acrylic, polyurethane, silicon, and others. On the basis of technology, the market is segmented into solvent-based, water-based, hot-melt high, and others. On the basis of end-user, the market is segmented transportation, packaging, electronics, construction, medical, and others. 

The Asia Pacific is growing at the highest rate in the global high-performance adhesives market in 2017 and the region is projected to continue with its regional domination over the forecast period. The growth of this regional market is attributed to change in lifestyle followed by the increase in purchasing power of people in developing economies such as India, China, and Japan, which is fueling the demand for high-end products that utilize the high-performance adhesives. Such factors are anticipated to further drive industry growth in the region over the forecast period. North America is predicted to hold substantial revenue share for high-performance adhesives. The region is an automobile manufacturing hub. Thus, the rising demand for high-performance adhesives in automobiles is going to have a positive impact on the market growth and development. Such factors are expected to drive high-performance adhesives market growth over the forecast timeframe.  

Some of the industry players operating in the high-performance adhesives market include Henkel AG, Bostik, 3M, Avery Dennison, HB Fuller, Pidilite, Illinois Tool Works, Delo, Huntsman Corporation, Hernon Manufacturing, Inc., Royal Adhesives & Sealants, LLC, Ashland Inc., Permabond LLC., Hernon Manufacturing, Inc., and Sika.

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FrequentlyAsked Questions

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 call 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.

 

According to the Zion Market Research report, the global high-performance adhesives market was worth about 30.42 (USD billion) in 2021 and is predicted to grow to around 39.58 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 3.5 percent.

 

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 entire high-performance adhesives business. 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

Some of the major players operating in the global high-performance adhesives market include Royal Adhesives & Sealants, Bostik, Illinois Tool Works, Pidilite Industries, Sika AG, Henkel AG & Co. KGaA, Dow, Jowat SE, 3M, Ashland, Avery Dennison Corp, and Wacker Chemie AG.

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