High Performance Adhesives Market

High-performance Adhesives Market Size (2023-2028) 

The High-Performance Adhesives Market size is estimated to rise from USD 13.56 Billion in 2022 to USD 16.98 Billion by 2028, at a CAGR of 8.67% between 2023-2028

Adhesive bonding technologies have decreased the time and prices needed to bond automotive components, while eventually decreasing total weight & fuel consumption and enhancing efficiency. Rising federal & governmental rules relating to carbon releases are estimated to further complement product applications in the automotive business. An increasing call for automation in the electronic segment rising use of complicated parts in the advancement of the target market in technology and greater characteristics, like low cure time, higher temperature resistance, good adhesion, greater chemical resistance, elasticity, and great moisture resistance are the key factors supporting the expansion of the global high-performance adhesives industry. Different features of the product like flexibility, solvent-free, lower prices, less vibration, high fatigue & thermal shock bearing along with decreased waste and high productivity have escalated its application in the automotive business. The product is highly replacing the traditional materials like fasteners employed indoors, deck lid flanges, roof panels, and dashboards along with other automobile parts.

Drivers in the High-Performance Adhesives Market:

The increasing call from the packaging business and the rising automobile segment particularly in emerging economies are estimated to drive market expansion over the coming years. Rising packaging calls from different end-use businesses like pharmaceuticals, food & beverages, and cosmetics are estimated to drive market expansion in the future. Expansion of e-commerce commodities call, in which packaging is a major factor, is estimated to drive the product call over the future years. Various derivatives from crude oil, such as polyols, diisocyanate, vinyl acetate monomer, toluene, and others are increasingly used in the manufacturing of industrial adhesive raw materials. The rising population, higher prevalence of chronic diseases, and key technological innovations have been driving the worldwide healthcare business. Moreover, the rising healthcare expenditure in the growing countries is estimated to escalate the call for medical equipment. The mounting populace across the globe coupled with the rise in severe ailments and advancements in technology is boosting the high-performance adhesives business globally.

Restraints in the High-Performance Adhesives Market:

The changes in the cost of crude oil negatively affect the raw material prices, hence resulting in high pricing of the product. This is probable to hamper the market expansion over the future years.

Opportunities in the High-Performance Adhesives Market:

The rising healthcare business is hence estimated to drive the industry for high-performance adhesives in the future years.

Challenges in the High-Performance Adhesives Market:

The high-performance industrial adhesives market is probable to face a challenge owing to volatile crude oil costs.

HIGH-PERFORMANCE ADHESIVES MARKET REPORT COVERAGE

High-Performance Adhesives Market Segmentation:

High-Performance Adhesives Market - By Type:

• Epoxy

• Polyurethane

• Acrylic

• Silicone

Of the mentioned types of adhesives, the epoxy sector of high-performance adhesives accounts for most of the market share due to its wide acceptability and easy availability in the end-use industries.

High-Performance Adhesives Market - By Technology:

• Solvent-based adhesives

• Water-based adhesives

• Hot-melt adhesives 

Solvent-based technology is largely used worldwide and has a high market value. The demand for non-VOC adhesives gave rise to water-based high-performance adhesives in North American and European markets.

High-Performance Adhesives Market - By End-Use Industry:

• Transportation

• Packaging

• Electronics

• Construction

• Medical

The medical sector is the fastest-growing among all the end-use industries. The increased percentage of the aged population and medical device advancements such as catheters, syringes, hearing aids, and silicone rubber components are the reasons for the high growth rate.

High-Performance Adhesives Market - By Region:

The High-Performance Adhesives Report includes the segmentation of Regions with their respective Countries.

• North America High-Performance Adhesives Industry includes the U.S. and Canada.

• Europe High-Performance Adhesives Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic, & Rest of Europe.

• Asia Pacific High-Performance Adhesives Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, & Rest of APAC.

• Latin America High-Performance Adhesives Industry includes Brazil, Mexico, Argentina, Chile, & Rest of LATAM.

• Middle East & Africa High-Performance Adhesives Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, & rest of MEA.

The Asia Pacific is the most abundant and quickest advancing industry for high-performance adhesives. The rising employment of these adhesives in the transportation, building, and medical end-use businesses is estimated to offer new development opportunities to the industry. Asia-Pacific holds a significant share of the total high-performance adhesives industry owing to the escalated technological & infrastructural advancements and customer awareness in the region. Research labs along with different makers are taking initiatives and making large funds to create durable low-price high-performance adhesives, and to enhance the features of these adhesives for end-use businesses. High economic expansion, development in manufacturing businesses, availability of low-price labor, rising end-use markets, and the worldwide shift of production facilities from developed markets to growing markets are some of the major factors driving the high-performance adhesives market in Asia Pacific region. 

Environmental rules in European countries are the major factor restraining expansion in the high-performance adhesives industry. In Europe, the industry is very much regulated with regards to health, safety and environmental protection, weather change, and energy concerns. In North America, a rising call from the packaging business is estimated to remain a major driving factor for high-performance adhesives market development in the forecast period. Change in customer preferences towards easy, extended shelf life, fast serve, and portability of products is attributable to the expansion of the packaging segment that consumes a huge amount of industrial adhesives. This is probable to propel the market expansion over the future

Recent Developments:

• Henkel launched adhesives solutions for high-performance packaging. German chemical and customer goods firm Henkel has grown its portfolio with the introduction of an adhesive solution known as Loctite Liofol LA 2798 for high-performance packaging applications.

• Mactac Technical Tapes Products has developed novel strength transfer adhesive tapes, known as XT High-Performance Rubber Transfer Adhesives. XT High-Performance Rubber Transfer Adhesives are made to combine a broad range of application substrates – from smooth to texture.

High-Performance Adhesives Market key players:

Major companies plying their trade in the High-Performance Adhesives Market include

1. Henkel AG(Germany)
2. 3M Company(U.S.)
3. Bostik(France), H.B. Fuller(U.S.)
4. Illinois Tool Works(U.S.)
5. Avery Dennison Group(U.S.)
6. Sika AG(Switzerland)
7. Royal Adhesives & Sealants(U.S.)
8. Pidilite Industries(India)
9. Huntsman Corporation
10. Ashland Inc.,
11. Dow Chemical Company