Adhesive Market

Adhesive Market Outlook (2024 to 2034)

Increasing preference for efficient and high-performance adhesives in several end-use industries such as automotive, construction, etc., is resulting in the steady expansion of the global adhesive market at 5% CAGR from 2024 to 2034. The market is calculated at US$ 68.94 billion in 2024 and is projected to reach US$ 112.29 billion by 2034-end.

Increasing use of adhesives in multiple applications in the automotive, footwear, woodworking, packaging, and construction industries is estimated to contribute to market growth. The automotive industry is consistently emphasizing designing fuel-efficient and lightweight vehicles, which can minimize CO2 emissions. In addition, the implementation of stringent regulations related to CO2 emissions is having a positive impact on automotive adhesive demand as they offer structural strength to vehicles while minimizing emissions. In addition, effective bonding features of adhesives are also driving their demand in end-use industries.

Adhesives are capable of improving the uniform distribution of strain and stress across the joints and bearing heavy loads. They assist in maintaining the strength and integrity of materials as no fastening elements, rivets, or holes are present to weaken their structure.

• Global demand for adhesives for use in footwear & leather goods is anticipated to increase at a CAGR of 5.3% and reach a value of US$ 21.9 billion by 2034.
• East Asia is projected to account for 24.6 % share of the global market by the end of the forecast period in 2034.
• Sales of adhesives in Japan are approximated to rise at a CAGR of 5.2% from 2024 to 2034.

In the construction industry, adhesives are used extensively in multiple applications, including bonding, crack-sealing, weather-sealing, and waterproofing. In addition, they are adopted in the healthcare industry for multiple purposes, such as assembling different types of parts of medical devices. Furthermore, increasing healthcare expenditure around the world is anticipated to generate demand for required facilities and tools, subsequently having a positive impact on the demand for adhesives in the coming 10 years.

Report Attributes	Details
Adhesive Market Size (2024E)	US$ 68.94 Billion
Forecasted Market Value (2034F)	US$ 112.29 Billion
Global Market Growth Rate (2024 to 2034)	5% CAGR
Market Share of Reactive Adhesives (2034F)	21.8%
South Korea Market Growth Rate (2024 to 2034)	7.8% CAGR
North America Market Share (2034F)	17.5%
Key Companies Profiled	H.B. Fuller Company 3M Wacker Chemie AG Arkema S.A. Sika AG Henkel Corporation Ashland Inc. RPM International Inc. Avery Dennison PPG Industries BASF SE Evonik Industries

What is Positively Impacting Consumption Growth of Adhesives?

“Emergence of Sustainable and Non-hazardous Adhesives”

Increasing public awareness and environmental regulations are stimulating prominent manufacturers in the market to develop green, non-hazardous, and sustainable sealants and adhesives. Some of the key market players are offering sustainable adhesives without using any added formaldehyde for use in building products as a bonding agent. Therefore, growing public awareness about the use of environment-friendly materials is leading to the production of sustainable and non-hazardous adhesives, which is expected to offer remunerative opportunities for market players.

“Expanding Construction Industry Driving High Demand for Adhesives”

An increase in construction activities in various developed and potentially high-growth countries is leading to the rising requirements for home décor and advanced architecture. This is expected to result in rising demand for these materials from the residential, as well as non-residential sectors. Further, growing government expenditure on new and existing projects is anticipated to result in expanding adhesive market size with increased product demand.

Which Key Obstacles are Estimated to Obstruct the Adhesive Market Growth?

“Implementation of Stringent Environmental Regulations”

Growing consumption of adhesives leads to the release of certain chemical gases, which are hazardous and harmful when inhaled. Therefore, some stringent rules are imposed considering the health of human beings and the environment. These environmental measures are expected to adversely impact demand for adhesives.

Which Adhesive Market Trends are Helping New Companies Strengthen Their Market Position?

“Investments in R&D Activities for Developing Bio-based Adhesives”

Owing to the implementation of stringent environmental policies, startups are focusing on investing more in the development of bio-based alternatives. Vegetable oil-based polyamides, epoxies, polyisoprenes, and soybean-derived polyols are some prevalent bio-based adhesives, which are experiencing increased sales and production.

Country-wise Insights

East Asia is approximated to contribute 24.6% share of the global market by 2034, as opined in Fact.MR report. Rising industrial expenditure along with increasing requirements for vehicles is increasing demand for adhesives. An increase in the number of building & construction projects in the region is driving demand for adhesives.

What is the Market Scenario in the United States?

“Presence of Prominent End-use Industries Driving Demand for Adhesives”

Attribute	United States
Market Value (2024E)	US$ 10.68 Billion
Growth Rate (2024 to 2034)	3.1% CAGR
Projected Value (2034F)	US$ 14.44 Billion

The United States is forecasted to hold 73.5% share of the market in North America by 2034-end. Increasing demand for construction projects and composite joints in the country is estimated to widen the application scope of adhesives. In addition, the growing development of renewable sources as effective replacements for chemicals derived from petrol is set to contribute to market opportunities in the country. Moreover, the presence of some of the prominent end-use industries, including electronics, automotive, construction, etc. is projected to widen the application scope of adhesives.

Which Country from East Asia is a Leading Market for Adhesives?

“Establishment of Prominent Manufacturing Plants in China”

Attribute	China
Market Value (2024E)	US$ 8.75 Billion
Growth Rate (2024 to 2034)	6.1% CAGR
Projected Value (2034F)	US$ 15.83 Billion

China is anticipated to enjoy 57.3% share of the East Asian market by the end of 2034. There are some manufacturing plants, which are actively operating in China and are investing in increasing their production capacity, subsequently contributing to revenue streams. In addition, increased investment by these players in R&D activities for producing more effective adhesives is also helping them strengthen their position in China.

Category-wise Insights

Fact.MR, a market research and competitive intelligence provider, in its revised report, states that worldwide demand for reactive adhesives is forecasted to increase at a CAGR of 5.1% and reach a market value of US$ 14.89 billion by the end of 2034. The high strength and efficient bonding properties of this adhesive type are increasing its demand around the world.

Which Type of Adhesive is Extensively Utilized Compared to Others?

“Rising Use of Reactive Adhesives for Their Bonding Properties”

Attribute	Reactive Adhesives
Segment Value (2024E)	US$ 14.89 Billion
Growth Rate (2024 to 2034)	5.1% CAGR
Projected Value (2034F)	US$ 24.48 Billion

Reactive adhesives are approximated to contribute 21.8% of the adhesive market share by the end of 2034. The increasing use of reactive adhesives is attributed to their ability to offer high strength and permanency to substrates, including high-tech devices, etc. They are characterized by the ability to form permanent bonds between substrates to offer heat, moisture, and resistance to chemicals.

What is Responsible High Adhesive Use in Footwear & Leather Goods?

“Excellent Resistance and Durability of Adhesives Driving Demand”

Attribute	Footwear & Leather Goods
Segment Value (2024E)	US$13.03 Billion
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 21.9 Billion

Footwear & leather goods are projected to hold 19.5% of the global market revenue share by 2034-end. The increasing use of adhesives for different types of footwear is attributed to their feature to offer excellent resistance to moisture, impact, extreme temperature, and vibration. They offer a strong water-resistance bond with some exceptional aging properties. Similarly, adhesives in different types of leather products are used to improve durability and product performance because of high structural performance. In addition, their use in preserving aesthetics is also driving demand in the respective industry.

Competitive Landscape

Prominent market players are concentrating on R&D activities to match the requirements of end-use industries adopting adhesives as one of the key components. Companies in the global market are involved in new product development, strengthening their supply chain systems, and offering quality products.

For instance :

• In January 2020, GE Sealants & Adhesives came up with a novel product line of caulks and sealants to offer protection to paints used in outside and inside home renovation, such as bath & kitchens, doors & windows, painting & sealing, etc.
• Bostik is one of the popular specialists in adhesives for industrial, construction, and consumer markets. In September 2019, the company launched innovative and modified silicone sealants for use in back bedding.

Key players in the adhesive market include H.B. Fuller Company, 3M, Wacker Chemie AG, Arkema S.A., Sika AG, Henkel Corporation, Ashland Inc., RPM International Inc., Avery Dennison, PPG Industries, BASF SE, and Evonik Industries.

Segmentation of Adhesive Market Research

• By Type :

  • Water-based
  • Solvent-based
  • Hot Melt
  • Reactive
  • Pressure Sensitive Adhesives (PSA)

• By Application :

  • Packaging
  • Building/Construction
  • Transportation
  • Footwear & Leather Goods
  • Product Assembly
  • Consumer/DIY Applications

• By Product :

  • Acrylics-based
  • Epoxy-based
  • Polyvinyl Acetate (PVA)-based
  • Polyurethane (PU)-based
  • Styrenic Blook-based

• By Region :

  • North America
  • Europe
  • East Asia
  • Latin America
  • Middle East & Africa
  • South Asia & Oceania