Industrial Adhesive Market dynamics:
The industrial adhesive market is expected to witness substantial growth through the automotive sector. A decrease in sales in this sector will, therefore, hamper the growth of the market. Moreover, any fluctuation in demand from the end-user industries may further cause a deceleration in the augmentation of the market.
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Epoxy adhesives offer numerous benefits such as low shrinkage during and after cure, high mechanical strength, chemical and heat resistance, and more. These advantages are widening the application base of adhesive within the construction industry. Growing demand for autonomous vehicles or advancement in V2I, V2V, active safety, and similar technologies will drive up the use of industrial adhesives in the electronics as well as the automotive industry. Furthermore, the need for lightweight packaging is paving the way for the development of newer adhesives. All of these factors will provide a plethora of opportunities for the market to flourish.
Competitive Intelligence
A few key players include, but not limited to: Flamemaster, Permatex, Master Bond Inc., Solvay, Beacon Adhesives, Huntsman Corporation, Ashland, Lord Corporation, Franklin Adhesives and Polymers, Kleiberit Adhesives, Dow, Jowat.
The Industrial Adhesive Market is segmented to include:
By technology:
- Water-based
- Solvent-based
- Hotmelt
- Others
By product:
- Acrylic
- PVA
- PU
- Styrenic Block
- Epoxy
- EVA
- Others
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By end-user:
- Packaging
- Construction
- Automotive
- Woodwork
- Others
Industrial Adhesive Market by Geography Overview:
Based on geography, the market is segmented as below:
- North America
- Europe
- APAC
- Latin America (LATAM)
- Middle East & Africa (MEA)
An adhesive used, to bond two surfaces together, generally in industrial applications are known as industrial adhesives. The commonly used raw materials for the production of these adhesives are natural rubber, starch, synthetic polymer, neoprene, etc. Various additives are mixed with these materials to produce an adhesive with a specific composition.
The growing demand for adhesives across various industries such as automotive, construction, packaging, electronics, footwear, and more coupled with its increasing applications will fuel the adhesive market. Additionally, the development of bio-based adhesives will bolster the market growth. Stringent environmental regulations may pose a threat to the expansion of the market.
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Recent news in Industrial Adhesive Industry:
- In September 2020, Huntsman Advanced Materials announced the launch of the ARALDITE 2000 Adhesive Core Range. The range comprises of nine high performance adhesives and consists of three technologies – epoxy, acrylic and polyurethane.
- Master Bond Inc.’s two-part EP30-4Med optically clear epoxy clears the ISO 10993-5 testing in March 2021, and is hence, considered non-cytotoxic. This adhesive has a fast setup time that cures at room temperature.
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