Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market
Adhesives Industry | Forecast 2030
Adhesives Industry Data Book – Packaging Adhesives, Construction Adhesives, Wood Adhesives, Medical Adhesives, Automotive Adhesives and Other Adhesives Market
The economic value generated by the adhesives industry was estimated at approximately USD 111.58 billion in 2022. This economic output is an amalgamation of basic adhesives categories namely, packaging adhesives, construction adhesives, wood adhesives, medical adhesives, automotive adhesives, and other adhesives.
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.
Packaging Adhesives Market Insights
The global packaging adhesives market size was valued at USD 10.69 billion in 2018 and is expected to grow at a CAGR of 5.8% from 2019 to 2025. The market growth is majorly driven by rising demand from packaged food & beverages sector owing to the growing population, increasing disposable incomes, and changing consumer dietary requirements.
The packaged food & beverage products primarily include convenient ready-to-eat food products, cake mixes, frozen meals, and snacks. The growing demand for these products is projected to propel manufacturers to increase their production capacity, which is likely to fuel the market growth over the forecast period.
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
Construction Adhesives Market Insights
The global construction adhesives market size was estimated at USD 10.58 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 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.
In June 2021, the U.S. government announced a USD 1.2 trillion infrastructure plan to support the country’s economic growth. This plan makes investments in transportation, water management, broadband, telecommunications, energy, and others. The funding is planned through a combination of federal investment that is expected to encourage private entities. Much of the incentivized non-federal investments are anticipated to originate from public-private partnerships. Such policies are predicted to facilitate the growth of the U.S. construction adhesives industry.
Wood Adhesives Market Insights
The global wood adhesives market size was valued at USD 5.29 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% 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.
Wood panel manufacturers, especially in Asia Pacific, rely on in-house production capabilities to produce adhesives for their products. Adhesive production is considered to be a part of wood-based panel manufacturing in the woodworking industry. However, most small to medium panel manufacturers do not have adequate adhesive production and quality control capabilities. Adhesive formulation and monitoring of quality are solely dependent on the operator’s knowledge, skill, and experience.
Medical Adhesives Market Insights
The global medical adhesives market size was valued at USD 10.04 billion in 2019 and and is anticipated to expand at a compound annual growth rate (CAGR) of 8.0% from 2020 to 2025. Faster operating speed associated with the utilization of medical adhesives over traditional wound closure techniques such as stitches is predicted to drive market growth in the future.
The recent trend indicates market players adopting superior, yet cost-effective solutions with low maintenance & easy handling to gain a competitive advantage over existing competitors in the industry. Technological innovations have led to the development of environment-friendly and biocompatible adhesives for surgical applications.
Automotive Adhesives Market Insights
The global automotive adhesives market size to be valued at USD 6.5 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% during the forecast period. Government initiatives to increase the production of lightweight vehicles is a major driver for market growth. The ability of adhesives to reduce vehicle weight, increase fuel efficiency, and lower carbon emissions is likely to augment the market growth over the next seven years. This has resulted in increased product penetration in automotive sector and, thereby, in the replacement of welding & metal joints with adhesives.
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
Chapter 2. Executive Summary
2.1. Industry Snapshot
2.2. Key Trends – Highlights
Chapter 3. Industry Trend Analysis
3.1. Regulatory Framework & Benchmark
3.2. Value Chain Analysis
3.2.1. Manufacturing/Technological Outlook
3.3. Competitive Benchmarking
3.3.1. Heat-map Analysis
3.3.2. Distribution Channel Analysis
3.4. Macro Environmental Trend Analysis
3.4.1. Industry Driving Forces & Impact Analysis
3.4.2. Opportunities & Challenges
Company Profiles
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