PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1493141
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1493141
Global Engineering Adhesives Market is valued approximately USD 27.21 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.20% over the forecast period 2024-2032. Engineering Adhesives are designed to provide strong, durable, and reliable bonds between substrates such as metals, plastics, composites, ceramics, and other materials commonly found in engineering and manufacturing processes. They provide robust bonding strength suitable for withstanding mechanical stresses, including shear, tension, and compression. Furthermore, rising demand from batteries and renewable energy are gaining attention towards the Global Engineering Adhesives Market. The expansion of renewable energy sources such as wind and solar power requires reliable bonding solutions for the construction and maintenance of infrastructure components. Engineering adhesives are utilized in wind turbine blade assembly, solar panel mounting, and other applications critical to renewable energy projects.
The Global Engineering Adhesives Market is driven by rising focus on lightweight materials and expansion of renewable energy sector across the world. Industries such as automotive and aerospace are increasingly adopting lightweight materials such as composites, aluminum, and advanced plastics to improve fuel efficiency and reduce emissions. Engineering adhesives play a crucial role in bonding these lightweight materials while maintaining structural integrity and performance. In addition, expansion of renewable energy infrastructure, including wind and solar power projects, is driving the demand for engineering adhesives used in the construction and maintenance of components such as wind turbine blades, solar panels, and battery systems. However, the high cost of engineering adhesives and fluctuation in pricing of raw material is going to impede the overall demand for the market during the forecast period 2024-2032.
The key regions considered for the Global Engineering Adhesives market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market owing to factors such as rising demand of engineering adhesives in the packaging & automotive industries across the region. Engineering adhesives offer versatile bonding solutions for various packaging materials such as paperboard, corrugated cardboard, plastics, and laminates. They allow for the assembly of complex packaging designs, including folding cartons, blister packs, and pouches. In addition, adhesives are used for structural bonding applications in vehicle assembly, including body panels, chassis components, interior trim, and glass bonding. They provide high-strength bonds while reducing the need for mechanical fasteners, leading to enhanced durability and rigidity. Furthermore, the market in Asia Pacific, on the other hand, is expected to develop at the fastest rate over the forecast period.