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The adhesive market size is estimated to grow by USD 17.7 billion at a CAGR of 4.24% between 2023 and 2028. The increasing demand for adhesives in the medical industry, driven by the need for advanced medical devices and equipment, is creating new opportunities for adhesive manufacturers. The rising demand for adhesives in the packaging industry, fueled by the growth of e-commerce and the need for sustainable packaging solutions, is also driving market growth. Additionally, the rising number of construction and real estate projects, particularly in emerging economies, is driving demand for adhesives used in construction and building materials. Overall, these factors are creating a favorable market environment for adhesive manufacturers to expand their operations and meet the growing demand for adhesive products.
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In environmentally conscious landscape, CO2 emissions and environmental regulations play a pivotal role in shaping industries like building and construction, footwear and leather goods, and healthcare. These sectors are increasingly turning to bio-based alternatives and reactive adhesives to reduce their carbon footprint. Innovations in hot melt, solvent-borne, and UV cured adhesives are transforming woodworking and joinery practices, offering sustainable solutions while complying with stringent environmental regulations. In transportation, issues such as transportation-related delays are being addressed through efficient 3D modeling and DIY residential sector improvements. Alcohols are used as cleaning products and binders in various applications, ensuring both functionality and sustainability. Emerging technologies like linerless labels are enhancing product packaging efficiency, further supporting environmental initiatives across diverse industries. This synergy between innovation and sustainability is crucial in meeting global environmental goals while advancing technological and industrial practices.
One of the key factors driving the market growth is the increasing demand for adhesives in the medical industry. The market for adhesives in medical applications is growing due to increasing demand and their superior performance compared to traditional fasteners. Advancements in adhesive technologies are particularly notable in the reusable medical device market. These adhesives are also used in building & construction, electrical & electronics, and various industries for their efficiency, durability, and cost-effectiveness. They are also used in the automotive industry and in the production of tablets, smartphones, and laptops. Key adhesives used in medical applications include epoxy, silicones, polysulfides, and polyurethanes. Factors such as growing investments in the medical sector due to lifestyle changes and population growth are expected to fuel market growth in the forecast period.
A key factor shaping the market growth is the increasing demand for non-hazardous, green, and sustainable adhesives. There is an increasing demand for for low-VOC (low-volatile organic compound) and green, sustainable adhesives from developing countries has resulted in the rising demand for eco-friendly industrial adhesives. The reduction of the overall solvent content in the process is fuelling the demand for eco-friendly adhesives. Moreover, the main advantage of eco-friendly adhesives is that they can lower the solvent emissions and airborne particles emanating from the adhesive. As a result, there is an increasing focus by manufacturers towards adhesives using low VOC-emitting materials, including recycled denim or cellulose insulation. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
Fluctuations in the cost of raw materials are one of the key challenges hindering the market growth. The price volatility of raw materials of adhesives significantly impacts the manufacturing costs, selling prices, and profitability. Factors such as fluctuations in industries like petrochemicals and plastics can impact the global supply and demand for key raw materials such as polymers, resins, and solvents. However, factors such as political unrest, trade disputes, and sanctions in areas with significant raw material production can result in disruption of the supply chain. Furthermore, natural disasters like hurricanes, earthquakes, and floods can impact production as well as halt the shipping process and thereby increase raw material prices. Hence, such factors are negatively impacting the market which in turn will hinder the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co: The company offers adhesives such as Scotch-Weld Epoxy Adhesives and VHB Tapes under their Industrial and Advanced Materials division.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The construction segment is estimated to witness significant growth during the forecast period. There is an increasing application of adhesives in the construction segment including the advanced past conventional construction techniques offering architects, engineers, and builders various options for putting structures together, fusing them together, and increasing their longevity. Additionally, it is widely used in the construction industry for structural bonding, enabling lightweight construction with enhanced load-bearing capacities.
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The construction segment was the largest segment and was valued at USD 19.60 billion in 2018. The main advantage of adhesives in the construction industry is that they make it easier to link different materials, including composites, metals, and polymers, which promotes creativity in architecture and artistic freedom. Furthermore, it is important for attaching panels, cladding materials, and facade components to buildings. Some of the main benefits of adhesives include offering insulation and weather resistance in addition to improving the aesthetic appeal as well as ensuring longevity, stability, and ease of maintenance when installing floor coverings and tiles. Hence, such applications are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the global adhesives market in APAC is the increasing demand for adhesives in various applications across industries such as construction, packaging, and transportation.
Additionally, there are several infrastructural developments across APAC countries, including India, China, Japan, Thailand, Indonesia, the Philippines, and others which are positively impacting the market growth. Furthermore, the huge investments by the government as well as private companies in the construction industry will fuel the demand for adhesives in the region. hence, such factors are expected to drive market growth in the region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
You may also interested in below market reports:
1. Industrial Adhesives Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, Germany, UK - Size and Forecast
2. Adhesive Tapes Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, India, Japan, Germany - Size and Forecast
3. Aerospace Adhesive and Sealants Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, India, Germany, UK - Size and Forecast
In the realm of footwear & leather goods and building products, the integration of bio-based adhesives marks a significant shift towards sustainability. These adhesives, derived from renewable sources such as resin, acrylic, cyanoacrylate, silicone, and VAE or EVA, offer enhanced moisture, impact, and vibration resistance, ensuring longevity and durability in high-tech devices and composite joints. With a focus on aging properties and water-borne formulations, manufacturers are addressing environmental concerns while meeting stringent standards in green building technology and packaging applications. Electric vehicles benefit from lightweight materials and sustainable adhesives like bioinspired fibrillar dry adhesives, reducing reliance on crude oil derivatives. In OEMs and consumer goods sectors, the use of tackifiers and plasticizers further enhances performance and eco-friendliness, aligning with global efforts towards sustainable manufacturing practices in the era of climate change mitigation.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
197 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.24% |
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Market growth 2024-2028 |
USD 17.7 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.04 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 48% |
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Key countries |
China, US, Germany, India, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Akzo Nobel NV, Arkema SA, Avery Dennison Corp., BASF SE, Dow Inc., DuPont de Nemours Inc., Evonik Industries AG, H.B. Fuller Co., Henkel AG and Co. KGaA, Huntsman Corp, Illinois Tool Works Inc., Jowat SE, KCC Co. Ltd., Mapei SpA, Pidilite Industries Ltd, PPG Industries Inc., RPM International Inc., Sika AG, and Wacker Chemie AG |
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Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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