The global adhesives market has experienced significant growth, driven by advancements in technology, increasing demand across various industries, and a shift towards sustainable products. According to Kings Research, the market was valued at USD 71.37 billion in 2023, is estimated at USD 73.21 billion in 2024, and is projected to reach USD 89.32 billion by 2031, growing at a compound annual growth rate (CAGR) of 2.88% from 2024 to 2031.
Market Growth and Trends
The adhesives market is undergoing a transformation, influenced by several key trends. The integration of adhesives in electronics manufacturing is reshaping the industry. Adhesives are essential for assembling components in devices such as smartphones, wearables, and consumer electronics, providing reliable bonds while supporting miniaturization. Their use in heat dissipation, electrical insulation, and protective sealing enhances device performance and longevity. As emerging technologies like 5G, IoT, and renewable energy systems grow, the demand for specialized adhesives that withstand thermal, electrical, and mechanical stresses has surged.
The global transition toward renewable energy is also leading to increased adhesive usage in solar panels, wind turbines, and energy storage systems. Adhesives are used to bond photovoltaic modules, seal components in wind turbine blades, and assemble energy-efficient systems, where durability and weather resistance are paramount. Their ability to improve production efficiency and reduce maintenance costs makes them essential in renewable energy projects.
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Demand Dynamics
The demand for adhesives is primarily driven by expanding applications across building construction, packaging, and automotive industries. Their usage has grown rapidly with the introduction of high-performance polymers and formulations. They are one of the most important materials used in construction, and the market is expected to grow with the adoption of new designs and techniques. With the expansion of processed food beverages production activities across the globe, the demand for efficient and reliable packaging solutions has increased significantly, fueling the demand for adhesives globally. Another major driver for the market is the increased demand for adhesives in the medical industry. Along with it, adhesives are prevalently used in arts and crafts at various levels, pushing manufacturers to develop new products. Industrial use of adhesives includes HVAC manufacturing, woodworking, fabrication, etc.
Key Companies in Adhesives Market
- 3M
- Henkel AG Co. KGaA
- B. Fuller Company
- Sika AG
- Arkema
- Dow
- Avery Dennison Corporation
- Huntsman International LLC
- Pidilite Industries Ltd
- ITW Performance Polymers
Key Industry Developments
- May 2024 (Business Expansion): Dow began commercial operations of a new VORATRON Polyurethanes Systems adhesive and gap filler production line at its facility in Ahlen, Germany. This expansion increases VORATRON's production capacity tenfold, addressing the rising demand for materials used in battery assembly for the e-mobility sector.
- February 2024 (Product Launch): 3M launched a new medical adhesive designed to enhance patient care by offering a premium wear time of up to 28 days. This innovative adhesive reduces the need for frequent dressing changes, making it ideal for patients requiring long-term dressing wear.
The global adhesives market is segmented as:
By Resin Type
- Acrylic Adhesives
- Epoxy Adhesives
- Polyvinyl Acetate (PVA) Adhesives
- Polyurethane (PU) Adhesives
- Silicone
- Others
By Technology
- By Technology
- Water-Based Adhesives
- Solvent-Based Adhesives
- Hot Melt Adhesives
- Reactive Adhesives
- Others
By End Use Industry
- Building Construction
- Paper Packaging
- Automotive Transportation
- Woodworking Joinery
- Footwear Leather Goods
- Medical
- Electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Middle East Africa
- GCC
- North Africa
- South Africa
- Rest of Middle East Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Regional Analysis
Geographically, the adhesives market is segmented into North America, Europe, Asia-Pacific, Middle East Africa, and Latin America.
Asia-Pacific:
The Asia-Pacific region held a significant share of the adhesives market in 2023, driven by rapid industrialization, increasing vehicle production, and rising consumer demand for automobiles. Countries like China, India, and Japan are contributing significantly to this notable expansion, with China emerging as a key automotive manufacturing hub. The region's ongoing infrastructure development, rapid urbanization, and economic expansion are fueling automotive production and increasing the demand for adhesives. Additionally, the shift toward electric vehicles and lightweight materials is fostering innovation in adhesive technologies.
Europe:
Europe is anticipated to witness substantial growth at a CAGR of 6.94% over the forecast period, mainly due to stringent climate regulations and a notable shift toward sustainability. As part of the European Commission's climate goals, the "Fit for 55" legislation aims to reduce greenhouse gas emissions by at least 55% by 2030. This includes a 55% reduction in CO2 emissions from cars and a 50% reduction from vans. As electric vehicles become increasingly popular, there is an increased demand for specialized adhesives and sealants designed to meet the performance requirements of these vehicles, including enhanced thermal
