Sign in

Specialty Adhesives Market is Anticipated to Witness High Growth Owing to Increasing Demand from Automotive Industry

Specialty Adhesives Market is Anticipated to Witness High Growth Owing to Increasing Demand from Automotive Industry

Specialty adhesives are engineered solutions designed for specific end-use applications in various industries like building and construction, automotive, aerospace, medical devices and others. Their unique bonding capabilities enable seamless assembly of materials like plastics, metal, glass etc. and provide strength, durability and thermal resistance. Improved performance properties such as moisture, chemical and heat resistance make them suitable for structural, industrial and temperature-critical applications. The building and construction sector use specialty adhesives while laying tiles and floorings along with assembly of furniture. In automotive industry, specialty adhesives are extensively used for bonding vehicle components like windshield, exterior lights, front end modules, interior and exterior trims, etc. The Global specialty adhesives market is estimated to be valued at US$ 4.56 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in Global Specialty Adhesives Market Share are PerkinElmer, Cardinal Health, Lantheus Medical Imaging, Bracco Imaging, NTP Radioisotopes, JSC Isotope, ANSTO, Nordion, Curium Pharma, IRE. The growing demand for specialty adhesives in various industries like automotive, construction, aerospace, medical devices, footwear among others is propelling the market growth. Technological advancements leading to development of adhesive solutions with high bond strength, thermal and chemical resistance are further fueling the specialty adhesives adoption.

The specialty adhesives market is witnessing high demand from the construction sector owing to increasing non-residential and commercial construction activities globally. In the automotive industry, lightweight and durable solutions are driving the specialty adhesives consumption for bonding of composites and plastics. Advancements in medical devices sector including disposables, implants and wearables is also augmenting the market expansion.

New product development and emergence of bio-based and sustainable adhesive solutions are key technological trends expanding specialty adhesives applications. Innovation in packaging adhesives for foods with high moisture content and varying pH levels is another area attracting R&D investments.

Market Trends

Water-based specialty adhesives are gaining popularity owing to low VOC emissions and eco-friendly properties. Sustainable specialty adhesive solutions produced from plant-based, recycled or bio-renewable materials are witnessing rapid adoption.

Growing demand for lightweight and durable bonding materials in automotive, aerospace and marine industries has increased the use of specialty adhesives in bonding of composites, aluminum and magnesium.

Market Opportunities

Increasing public and private investments in infrastructure projects across developing nations provide lucrative growth opportunities.

Expanding application scope in new industries like electronics, footwear and packaging also presents significant growth prospects over the forecast period.

Impact of COVID-19 on specialty adhesives market

The COVID-19 pandemic has impacted the specialty adhesives market significantly. During the initial lockdown phases in 2020, manufacturing activities were halted globally resulting in reduced demand for adhesives. Supply chain disruptions also affected the availability of key raw materials like epoxies, polyurethanes and acrylics which are used in specialty adhesives. As industries resumed operations post lockdowns, demand started picking up but supply side challenges continued. Social distancing norms increased packaging needs which drove sales of specialty packaging adhesives. The healthcare sector emerged as a major demand generator with increased production of medical devices, equipment and materials that require specialty bio-medical adhesives. Automotive and construction industries took longer to recover owing to extended shutdowns and labor shortages which impacted adhesive consumption. Moving forward, investments in infrastructure projects and focus on supply chain resilience are expected to support market recovery in coming years.

Geographical regions with highest concentration of specialty adhesives market

North America accounted for the largest share of the global specialty adhesives market in terms of value in pre-COVID years led by the USA. Strong presence of end use industries like automotive, construction and healthcare generated high volumes. Europe and Asia Pacific also have sizable market size with major countries being Germany, UK, China, India and Japan. Brazil and Mexico have emerged as high growth markets in Latin America.

Fastest growing region for specialty adhesives market

Asia Pacific region is projected to witness the fastest growth in the specialty adhesives market during the forecast period. This can be attributed to increasing industrialization, rising income levels, rapid urbanization and growing population in countries like China, India. Expanding middle class is driving demand for consumer goods which require adhesive packaging and assembly. Further, ongoing infrastructure projects, growth of electric vehicles and focus on renewable energy will augment specialty adhesive consumption across Asia Pacific in the coming years.

Get More Insights on Specialty Adhesives Market

Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more