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Industrial Adhesives are Anticipated to Witness High Growth Owing to Increasing Use in Manufacturing Sector

Rajkumar cmi
Industrial Adhesives are Anticipated to Witness High Growth Owing to Increasing Use in Manufacturing Sector

The industrial adhesives market is used for different end-use industries like building and construction, automotive, packaging and others. Adhesives help in bonding various materials together and improve the functionality and aesthetics of the final products. They provide strength, flexibility and durability to materials joined together. There is an increasing demand for adhesives from the manufacturing sector owing to their bonding properties. The Global industrial adhesives Market is estimated to be valued at US$ 48.44 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the industrial adhesives are Johnson & Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc., Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC. These companies are focusing on new product launches and expansion strategies to strengthen their market position.

The key opportunities in the industrial adhesives market include rising application of sustainable adhesives and growth of the epoxy resin adhesives segment. Sustainable adhesives help reduce VOC emissions and are environment-friendly. Epoxy resin adhesives find wide usage in automotive and aircraft bodies due to high temperature and chemical resistance.

The industrial adhesives market is expanding globally due to increasing foreign direct investments in emerging economies of Asia Pacific and Latin America. Countries like China, India, Brazil and Mexico are anticipated to witness high demand for industrial adhesives from manufacturing, automotive and infrastructure development activities.

Market drivers

Increasing use of adhesives in manufacturing industries like automotive, aviation, consumer goods is driving the demand. Adhesives offer advantages like lightweight bonding and high-strength joints.

Market restraints

Volatility in raw material prices affect the cost of adhesive production. Traditional fastening technologies continue to capture a significant market share posing challenge for adhesives. Environmental regulations regarding VOC emissions act as a restraint.

Segment Analysis

The industrial adhesives market size is segmented into water-based adhesives, solvent-based adhesives, hot melt adhesives, and reactive adhesives. Water-based adhesives dominates the market as these adhesives have low VOCs content, wide bonding strength range, repositionability and are economical to use. Water-based adhesives are used in various industries like packaging, construction, woodworking, automotive and transportation.

Global Analysis

Regionally, Asia Pacific holds the largest share in the industrial adhesives market and is expected to maintain its dominance during the forecast period. The growth in the region is attributed to significant development in construction, automotive, electronics and footwear industries in emerging countries such as China and India. North America stands as the second largest market for industrial adhesives due to increased spending on infrastructure rehabilitation activities, expanding automotive industry and stringent environmental regulations relating to low VOC emissions. Europe is expected to witness moderate growth due to stringent regulations restricting use of solvent-based adhesives.

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Rajkumar cmi
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