PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1525677
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1525677
The sustainable adhesives market is projected to reach USD 3.7 billion by 2029, at a CAGR of 5.2% from USD 2.9 billion in 2024.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion/Million), Volume (Kiloton) |
Segments | Raw Material, Type, End-use Industry, and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Increasing industrialization & urbanization globally coupled with rising demand for sustainability is driving the demand for sustainable adhesives."
Industrialization, urbanization, and growing demands for sustainability serve as major drivers behind the sustainable adhesives market. These two factors impact production methods and environmental policies. With the rise in industrialization and the development of urban centers, demand for adhesives increases in the case of construction, packaging, and the automotive sector, amongst many others. This increased demand in adhesive applications places additional importance on the adoption of sustainable measures to help reduce the environmental impact of the industrial process. The process of urbanization is very complex and fast, generating huge volumes of wastes, hence the need for delivering eco-friendly solutions that support recycling and waste reduction. Sustainable adhesives include biodegradable, recyclable, and low-VOC options to meet these challenges by improving the environmental footprint of the bonded material and making the recycle process easier. At the same time, industrialization is very often accompanied by more rigorous environmental regulations, which encourages manufacturers to look for greener alternatives in order to remain compliant with new standards. Increased awareness among consumers, coupled with their penchant for green products, further forces businesses to seek adhesives that will offer the best possible means of meeting their corporate social responsibility goals. Hence, the implementation of sustainable adhesives within industrial and urban projects is of prime necessity in order to come up to regulatory expectations and consumer demand, thus acting as a boost for the market growth. This synergy of industrialization, urbanization, and sustainability underlines the need for adopting eco-friendly adhesive solutions in the dynamically changing global scenario.
"Renewable adhesives, by type, accounts for the second-largest market share in 2023."
After recyclable adhesives, renewable adhesives are the second-biggest type in the sustainable adhesives market since they have a huge potential for deriving environmental benefits and are in growing demand due to increased awareness of the need for eco-friendly solutions. The renewable adhesives are produced from bio-based materials, like plant-based resins and polymers, which reduce dependence on fossil fuels and bring down the carbon footprint of adhesive products. Inherent in their very nature is compatibility with the goals of sustainability and circular economy principles which are very alluring to industries that seek greener alternatives. Also, new technologies for renewable adhesives have improved their performance and fitted them for a wide variety of uses, from packaging and construction to even the automotive industry. Its ability to provide effective bonding, all while being derived from renewable resources, supports both regulatory compliance and company sustainability initiatives. Rising consumer pressure, coupled with pressure from regulators, pushes companies toward more sustainable practices, and as such, renewable adhesives remain on a growth path, further entrenching their position as one of the key segments in the sustainable adhesives market.
"Construction is expected to be the second largest end-use industry for sustainable adhesives market during the forecast period, in terms of value."
The factors categorizing the construction industry, after packaging, as the second-largest end-use industry for sustainable adhesives includes several reasons. The construction sector grows considerably. The growth is driven by increasing urbanization, infrastructure development, and renovation projects throughout the world. This growth increases the demand for such adhesives, which promote eco-friendly building techniques and meet strict environmental regulations. Sustainably made and low in volatile organic compounds (VOCs), adhesives derived from renewable resources help minimize the environmental impact associated with these materials and construction processes. So the move toward green building certifications and standards-such as LEED, or Leadership in Energy and Environmental Design-begins to focus on the use of sustainable materials within adhesives with regard to healthy indoor air quality and overall environmental performance. Adhesives that are long-lasting, high performance in nature, and environmentally sustainable contribute to these green building goals by simultaneously providing better energy efficiency, less waste, and lower carbon footprints in construction projects. Furthermore, the construction industry is moving toward sustainable adhesives without compromising the need for long-lasting, high performance requirements of adhesive bonding solutions in which the structural integrity is not affected by best practices. Hence, the construction industry is looking forward to sustainability and regulatory compliance and is one of the leading segments for sustainable adhesives, after packaging.
"Plant-based is expected to be the second largest raw material segment for sustainable adhesives market during the forecast period, in terms of value."
Although the second-largest share of sustainable adhesives is derived from plant-based materials after water-based materials, due to their environmental advantages and rising popularity, they form the second-largest raw material type in the sustainable adhesives market. Plant-based adhesives are manufactured from renewable sources like starch, cellulose, and natural resins, which have a significant reduction in reliance upon fossil fuels to meet global sustainability objectives. They are renewable resource-based and thus offer an eco-friendly option against the petroleum-based ones by reducing carbon footprint and supporting the circular economy. Growing pressure from consumers and regulators for greener products is driving companies toward plant-based adhesives, especially in packaging, construction, and automobile industries. Moreover, their biodegradable and non-toxic nature further enhances the potential. With better performance coming out of plant-based adhesives through technological advancement, adoption increases, thereby further strengthening their position as the second major segment after water-based adhesives in the sustainable adhesives market.
"Based on region, North America was the second largest market for sustainable adhesives in 2023."
North America is the second largest contributor for the market, and several factors contribute to it. This region emphasizes a great deal of attention toward environmental regulations and sustainability initiatives. As such, these efforts are motivating the demand for green products across industries like packaging, construction, and automotive. North American companies are becoming more responsible toward CSR or corporate social responsibility and sustainability objectives, which call for ever increased use of more sustainable adhesives, reducing their impact on the environment and meeting the regulatory standards. Besides, there exists a wide industrial base in North America, largely driven by heavy investments in research and development for innovations and improvements in adhesive technologies. The strong focus on innovation has led to the introduction of high-performance sustainable adhesives, which have met the demanding requirements of today's applications. Consumer awareness and preference for green products are also high in North America, which fuels the market. Most of the key adhesive manufacturers are located in this region, along with well-established supply chain infrastructure, thereby ensuring that the products have wide availability and substantial adoption rates. All these factors make North America an influential market for sustainable adhesives, driving growth in the segment to become the second-largest globally.
The key players in this market are BASF SE (Germany), DuPont (US), Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), Jowat SE (Germany), Dow (US), Arkema (France), Avery Dennison Corporation (US), Synthos (Poland), Paramelt B.V. (Netherlands), Artience Co., Ltd. (Japan) etc.
Research Coverage
This report segments the market for the sustainable adhesives market on the basis of raw material, type, end-use industry and region. It provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for the sustainable adhesives market.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the sustainable adhesives market; high-growth regions; and market drivers, restraints, opportunities, and challenges.