Industries Study Report: Adhesives Industry

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Navigating the Adhesives Industry: Trends, Challenges, and Opportunities

Adhesives Industry Data Book - Packaging Adhesives, Construction Adhesives, Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Adhesives Industry was valued at 19,905 Kilotons in 2022 and is anticipated to increase at a significant CAGR of 5.2% from 2023 to 2030.

Grand View Research’s adhesives sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Construction Adhesives Market Insights

The global construction adhesives market size was estimated at 3,151.4 Kilotons in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.4% from 2023 to 2030. Growing investments in infrastructure sector worldwide are likely to push the demand for construction adhesives during the forecast period. As per the United Nations report on infrastructure in 2021, increasing investments in the infrastructure segment can add up to 0.6% to the global GDP. This addition can be more in some countries, including the U.S. and Brazil where it is up to 1.3% and 1.5%, respectively. Emerging economies are expected to remain key markets for construction adhesives demand, as 60% of infrastructure investment is projected to be attracted by these countries.

Commercial construction is anticipated to remain a key driver for the long-term growth of the U.S. market. It accounted for over 34.0% of revenue share in 2023 and is likely to grow at a moderate CAGR during the forecast period. Adhesives are widely utilized in commercial and residential buildings for bonding insulation foams, plastics, wood-based panels, plasterboard panels, and other synthetic raw materials.

Order your copy of the Free Sample of “Adhesives Industry Data Book - Packaging Adhesives, Construction Adhesives, Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Wood Adhesives Market Insights

The global wood adhesives market size was estimated at 2,538.3 Kilotons in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. Growing global engineered wood-based panel production is a significant factor driving the market. Engineered wood-based panels such as plywood, oriented strand board, and particle board consume a significant volume of adhesives during their manufacturing process. For instance, plywood is produced by binding veneers with adhesive.

The market is anticipated to grow over the forecast period owing to the increasing demand for eco-friendly and green furniture. Rising concerns among people regarding the abatement of trees and global warming have led to a surge in the use of engineered wood-based panels. Rapid urbanization coupled with an increase in disposable income has contributed to a higher demand for engineered wood furniture. This is estimated to be a significant factor in influencing product demand.

Furthermore, rising concerns among people regarding the abatement of trees and global warming have led to a surge in the use of engineered wood panels. The manufacturing of engineered wood panels such as oriented strand board, plywood, and particle board requires a significant volume of adhesives. For instance, plywood is produced by applying adhesive resin to veneers. As a result, the growing demand for wood panels is likely to boost demand for wood adhesives.

Go through the table of content of Adhesives Industry Data Book to get a better understanding of the Coverage & Scope of the study

Adhesives Industry Data Book Competitive Landscape

The adhesives market is a highly competitive and dynamic industry that offers a wide range of adhesive solutions for various applications. To gain a competitive edge in this market, companies need to stay abreast of industry trends, customer demands, and technological advancements.

Key players operating in the Adhesives Industry are:

DOW
3M
Henkel AG & Co. KGaA
Sika AG
Arkema

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Adhesives Industry: Construction Adhesives Market to grow at 4.4% CAGR by 2030

Access the Global Adhesives Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Construction Adhesives Market Report Highlights

The global Construction Adhesives Market size was valued at 3,151.4 Kilotons in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2023-2030.

Polyvinyl acetate resins witnessed the fastest growth rate with a CAGR of nearly 5.9%. These adhesives do not contain solvents and are therefore useful to consolidate porous construction materials such as sandstone
Reactive & other technology witnessed the fastest growth rate with a CAGR of nearly 5.2%. These technologies exhibit long-term durability and high bond strength under severe environmental conditions
Commercial applications witnessed the fastest growth rate with a CAGR of nearly 5.4% from 2024 to 2030. The segment growth over the anticipated period is anticipated to profit from the rising number of commercial buildings, such as pharmacies, grocery stores, and large box stores that have been constructed over the past few years
The Asia Pacific region dominated the market with the highest revenue share of 39.39% in 2023. The market is growing due to factors such as strong economic development coupled with population expansion in countries such as China and India is expected to increase construction spending in Asia Pacific over the forecasted period
Henkel AG & Co. KGaA, Dow, 3M, Arkema, and H.B. Fuller companies dominated the market with their continuous involvement in acquisitions, partnerships, and manufacturing facility expansions

Order your copy of Free Sample of “Adhesives Industry Data Book - Packaging Adhesives, Construction Adhesives, Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Wood Adhesives Market Revenue, 2020 - 2030 (USD Billion)

Wood Adhesives Market Report Highlights

The global Wood Adhesives Market size was valued at 2,538.3 Kilotons in 2022 and is expected to grow at compound annual growth rate (CAGR) of 4.5% from 2023 to 2030.

Urea-formaldehyde (UF) dominated the market in 2023 with a significant volume share of 31.4%, due to its low cost
Soy-based adhesives are anticipated to witness the fastest revenue growth, with a CAGR of 10.0% from 2024 to 2030. The environmental advantages offered by the product is estimated to play a key role for its increasing demand
Flooring is estimated to be the fastest growing application, in terms of revenue, with a CAGR of 9.3% from 2024 to 2030. Increasing construction spending and the rise in demand for luxurious and comfortable flooring is expected to facilitate the segment growth
Particle Board (PB) held the largest share in the wood adhesive consumption, with a significant volume share of 27.1% in 2023
Asia Pacific dominated the wood adhesives market with a significant volume share of 58.6% in 2023, owing to the extensive engineered wood-based panel production in the region

Go through the table of content of Adhesives Industry Data Book to get a better understanding of the Coverage and Scope of the study

Competitive Landscape

The adhesives market is a highly competitive and dynamic industry that offers a wide range of adhesive solutions for various applications. Companies are coming up with new product launches to strengthen their position in the market.

Key players operating in the Adhesives Industry are:

DOW
3M
Henkel AG & Co. KGaA
Sika AG
Arkema

Check out more Industry Data Books, published by Grand View Research

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Adhesives Industry: Product Price Trend Analysis, 2023 - 2030

The economic value generated by the adhesives industry was estimated at approximately USD 111.58 billion in 2022 and is expected to grow at a CAGR of 5.2% by 2030

Access the Global Adhesives Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Construction Adhesives Market Growth & Trends

The global construction adhesives market size is expected to reach USD 14.76 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, as per the new report by Grand View Research, Inc. The emergence of COVID-19 affected the construction industry around the world in 2020, and its impact continued in 2021 and 2022 as well in certain countries.

Construction represents close to a 13% share of the global GDP. Thus, a short impact on the sector affects the materials demand, thereby reducing the growth of the market. Most of the construction sites during the first half of 2020 faced numerous challenges associated with operations and supply chains. However, the market started recovering in 2021. Construction spending on infrastructure projects is likely to rise in 2022, on account of the passage of public and private investments.

Focus on sustainable construction and infrastructure projects is anticipated to assist the market growth during the coming years. Governments may provide stimulation to the economy by encouraging carbon reduction targets. These incentives might come in the form of direct public funds and policy changes. Companies expect demand for sustainable buildings and communities that promote healthier lifestyles, which is anticipated to drive the demand for construction adhesives.

The adoption of digitization and emerging technologies is another key factor, which is likely to provide a boost to the building & construction sector and associated materials over the long term. Contractors are likely to use remote collaboration at various stages of projects using digital models. Distributors of adhesives and other building materials are focusing on minimal physical interactions, especially with e-commerce sites for which sales teams can handle customers and orders with digital tools.

Wood Adhesives Market Revenue, 2020 - 2030 (USD Billion)

Wood Adhesives Market Growth & Trends

The global wood adhesives market size is expected to reach USD 8.01 billion by 2030, expanding at 4.5% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing demand from engineered wood-based panel manufacturers is a significant driver of the market.

Adhesives are a preferred choice for binding wood strips, chips, fibers, strands, and veneers for manufacturing engineered wood-based panels such as plywood, particle board, oriented strand board, medium-density fiberboard, and high-density fiberboards. Increasing population and rapid urbanization accompanied by government initiatives to boost residential construction are likely to propel the demand for wood-based panels. This is expected to remain a key driver of market growth.

Urea-formaldehyde (UF) dominated the market in 2022 owing to its beneficial attributes such as inflammability, low cost, light color, and a very rapid cure rate. However, the low-water resistance of the product is likely to restrain its utilization over the coming years. Melamine urea-formaldehyde (MUF) resins, which possess better water resistance properties, are increasingly being used in exterior applications that are more susceptible to moisture.

Soy-based adhesives have gained popularity owing to their low-cost production, low emissions, and bio-based origin. Stringent regulations pertaining to the formaldehyde emissions that are emitted during the production of UF resin-based wood products have led to a resurgence of demand for soy-based adhesives. The demand is likely to grow further as techniques such as adding hydrolyzed soy proteins phenol-formaldehyde resins provide reduced costs without degrading performance.

Furniture is also expected to remain a major application for the product. Growing investment in high-end, branded furniture by consumers is expected to positively affect the market. Major trends affecting the industry are sustainability, digitalization, and integration of home electronics into work & home furniture. These factors have facilitated innovation and new product development in the market.

Go through the table of content of Adhesives Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Adhesives industry are:

B. Fuller Company
Pidilite Industries Ltd. & Co. KGaA
Avery Denison Corporation
Huntsman
Wacker Chemie AG

Check out more Industry Data Books, published by Grand View Research

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Navigating the Adhesives Industry: Trends, Challenges, and Opportunities

Adhesives Industry: Construction Adhesives Market to grow at 4.4% CAGR by 2030

Adhesives Industry: Product Price Trend Analysis, 2023 - 2030

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