PUBLISHER: The Business Research Company | PRODUCT CODE: 1605617
PUBLISHER: The Business Research Company | PRODUCT CODE: 1605617
High-performance adhesives are specialized bonding agents crafted to deliver exceptional adhesion, durability, and resistance in extreme conditions. These adhesives can endure considerable stress, temperature fluctuations, moisture, and chemicals, making them well-suited for demanding applications across various industries, such as aerospace, automotive, construction, and electronics.
The primary types of high-performance adhesives include epoxy, polyurethane, acrylic, silicone, and others. Epoxy, a synthetic resin that cures through a chemical reaction, creates a strong and durable bond that is ideal for multiple applications, including construction, automotive, and electronics. These adhesives are categorized based on technology into water-based, solvent-based, hot melt, reactive, and more, and they are widely utilized in numerous end-use industries, including automotive, electronics, packaging, medical, construction, aerospace, and others.
The high performance adhesives market research report is one of a series of new reports from The Business Research Company that provides high performance adhesives market statistics, including high performance adhesives industry global market size, regional shares, competitors with a high performance adhesives market share, detailed high performance adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the high performance adhesives industry. This high performance adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The high performance adhesives market size has grown strongly in recent years. It will grow from $32.43 billion in 2023 to $34.10 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth during the historic period can be attributed to the expansion of manufacturing processes, the rise in environmental regulations, growth in the automotive industry, a boom in consumer electronics, and an increasing emphasis on building materials.
The high performance adhesives market size is expected to see strong growth in the next few years. It will grow to $41.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth during the forecast period can be attributed to the increase in aircraft production, the expansion of the medical sector, growth in the packaging industry, heightened consumer awareness, and the rise of e-commerce and online retail. Key trends during this period include advancements in polymer chemistry, the incorporation of sensors and smart materials, automation and robotics, the integration of nanotechnology, and the digitalization of manufacturing processes.
The growing transportation industry is projected to drive the growth of the high-performance adhesives market in the coming years. This industry involves the movement of goods and people through various modes such as road, rail, air, and sea, and it plays a vital role in global trade, supply chains, and personal mobility. Factors contributing to the expansion of the transportation sector include the rise of online shopping, urbanization, population growth, and infrastructure development. High-performance adhesives contribute to this sector by reducing vehicle weight and enhancing durability, which leads to improved fuel efficiency and lower maintenance costs. For example, in April 2024, the Bureau of Transportation Statistics, a U.S. government agency, reported that the transportation sector's contribution to GDP increased from 6.3% in 2021 to 6.7% in 2022, with for-hire transportation driving this growth, rising from 3.2% to 3.5%. In contrast, household transportation experienced a smaller increase of one percentage point. Thus, the expanding transportation industry is fueling the growth of the high-performance adhesives market.
Leading companies in the high-performance adhesives market are prioritizing the development of innovative products, such as waterborne adhesive solutions that streamline the bonding process in footwear manufacturing. These environmentally friendly adhesives use water as a solvent instead of harmful chemicals. For instance, in September 2024, Covestro AG, a German company specializing in polymers and high-performance plastics, launched Dispercoll U and Dispercoll U PLUS, aimed at the automotive and footwear sectors. These advanced waterborne polyurethane adhesives are specifically designed for athletic footwear and automotive interiors. Dispercoll U enhances manufacturing efficiency with lower activation temperatures and strong initial tack, while Dispercoll U PLUS provides exceptional durability and hydrolysis resistance, making it suitable for footwear and automotive interiors that require resilience to heat and climate conditions.
In July 2024, Meridian Adhesives Group, a U.S.-based provider of adhesive solutions, acquired Bondloc UK Ltd. for an undisclosed amount. This acquisition aims to strengthen Meridian's product portfolio and expand its geographical reach, enabling the company to offer a wider range of innovative adhesive solutions and better serve its global customer base. Bondloc UK Ltd. is a UK-based chemical manufacturing company that specializes in high-performance industrial adhesives.
Major companies operating in the high performance adhesives market are The Dow Chemical Company, 3M Company, Parker-Hannifin Corporation, Sika AG, Avery Dennison Corporation, Huntsman International LLC, H.B. Fuller Company, Pidilite Industries Limited, DELO adhesive, TEX YEAR INDUSTRIES INC., Dymax Corporation, PARSON ADHESIVES INDIA PRIVATE LIMITED, Jowat SE, Super Bond Adhesives Pvt. Ltd., ITW Performance Polymers, Hernon Manufacturing Inc., WEICON GmbH & Co. KG, Permabond Engineering Adhesives Limited, Ester Chemical Industries Pvt. Ltd, Ameri-Cal Corporation
Asia-Pacific was the largest region in the high performance adhesives market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the high performance adhesives marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the high performance adhesives marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The high-performance adhesives market consists of sales of cyanoacrylates, anaerobic adhesives, polysulfide adhesives, and phenolic resins. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
High Performance Adhesives Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high performance adhesives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for high performance adhesives ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high performance adhesives market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.