The Global Specialty Adhesives Market size is expected to reach $6.3 billion by 2030, rising at a market growth of 4.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,343.17 Kilo Tonnes, experiencing a growth of 3.8% (2019-2022).
The Asia Pacific region is experiencing a construction boom, with ongoing infrastructure projects, urban development, and residential construction driving demand for these adhesives in applications such as flooring, tiling, insulation, and waterproofing. Therefore, the Asia Pacific region captured $2,078.90 million revenue in the market in 2022. Also, the China market generated 648.96 kilo tonnes in 2022. Additionally, with a growing middle class and increasing consumer spending, the Asia Pacific region has a rising demand for consumer goods such as appliances, furniture, and electronics.
The shift towards lightweight materials drives the market. Industries increasingly adopt advanced materials like carbon fiber composites, aluminum alloys, and thin films to reduce weight, enhance performance, and improve sustainability. These adhesives contribute to sustainability by enabling lightweight materials in eco-friendly products and green building solutions, aligning with regulatory mandates and corporate sustainability goals. Hence, the growing shift towards lightweight materials drives the market's growth.
Electric vehicles incorporate lightweight materials such as aluminum, carbon fiber composites, and high-strength steel to optimize efficiency and range. The number of new ZEVs registered continued to increase, up 43.2% year over year. Similarly, as per the National Investment Promotion & Facilitation Agency, the EV industry is expected to grow at a rate of 49% between 2022 and 2030. Thus, the growing adoption of electric vehicles (EVs) globally propels the market's growth.
However, to achieve optimal bonding performance, many adhesives require specific application techniques and equipment, such as precision dispensing systems, curing ovens, or controlled environments. Developing custom solutions, conducting feasibility studies, and performing compatibility tests contribute to the complexity of application processes. Thus, complex application processes are hindering the growth of the market.
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Challenges On the basis of end-use, the market is segmented into aerospace, automotive, construction, marine, and others. The marine segment held a 10.1% revenue share in the market in 2022. In terms of volume, the marine segment would consume 246.62 kilo tonnes by 2030. are used for bonding fiberglass and composite materials in boat construction and repair. These adhesives provide strong and durable bonds between hulls, decks, bulkheads, and other structural components, ensuring the integrity and stability of the vessel.
Based on product, the market is divided into polyvinyl acetate, polyurethane, acrylic, cyanoacrylates, and others. The polyurethane segment procured a 24.98% revenue share in the market in 2022. In terms of volume, the polyurethane segment would register 535.59 kilo tonnes by 2030. Polyurethane adhesives exhibit flexibility and toughness, allowing them to withstand dynamic loads, vibrations, and movement without compromising bond integrity. This makes them ideal for applications requiring resistance to impact, shock, and thermal cycling.
Free Valuable Insights: Global Specialty Adhesives Market size to reach USD 6.3 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America segment generated a 26.02% revenue share in the market. In terms of volume, the North America segment would register 246.62 kilo tonnes by 2030. North America is home to advanced manufacturing industries such as automotive, aerospace, electronics, and healthcare. These industries rely heavily on these adhesives for bonding, sealing, and assembly applications, driving significant demand for high-performance adhesives in the region.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 4.5 Billion |
| Market size forecast in 2030 | USD 6.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.4% from 2023 to 2030 |
| Revenue Growth Rate | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Number of Pages | 294 |
| Number of Tables | 590 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, End-use, Region |
| Country scope |
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| Companies Included | 3M Company, Henkel AG & Company, KGaA, Bostik S.A. (Arkema S.A.), H.B. Fuller Company, Pidilite Industries Ltd., Sika AG, Permatex Inc. (Illinois Tool Works), Nexus Adhesives Pty Ltd, Savare I.C. srl, Specialty Adhesives and Coatings, Inc. |
By Product (Volume, kilo Tonnes, USD Billion, 2019-2030)
By End-Use (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $6.3 billion by 2030.
Advancements in technology and product innovation are driving the Market in coming years, however, Complex application processes of specialty adhesives restraints the growth of the Market.
3M Company, Henkel AG & Company, KGaA, Bostik S.A. (Arkema S.A.), H.B. Fuller Company, Pidilite Industries Ltd., Sika AG, Permatex Inc. (Illinois Tool Works), Nexus Adhesives Pty Ltd, Savare I.C. srl, Specialty Adhesives and Coatings, Inc.
In the year 2022, the market attained a volume of 1,343.17 Kilo Tonnes, experiencing a growth of 3.8% (2019-2022).
The Cyanoacrylates segment is leading the Market, by Product in 2022; there by, achieving a market value of $2.0 billion by 2030.
The Asia Pacific region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $2,988.9 Million by 2030.
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