Global Engineering Adhesives Market

Engineering Adhesives Market Size, Share, Growth Analysis, By Product(Epoxies, Polyurethanes, Cyanoacrylates, Methacrylates), By Application(Transportation, Construction, Electrical & Electronics, Energy), By End-user(Aerospace, Road Transport, Marine, Rail), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2284 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 97 | Figures: 76

Engineering Adhesives Market News

  • In August 2023, 3M and their American multinational conglomerate released the Scotchbond™ Hi-Strength Structural Adhesive which has been designed to glue several materials such as plastics, metals, and composites.

     

  • In June 2023, Avery Dennison, a materials science company with global capabilities, introduced a brand-new line of structural adhesives designed to outperform in autos and aerospace manufacturing.

     

  • In March 2023, Sika, which is a multinational company headquartered in Switzerland, unveiled a new high-performance structural adhesive with the SikaForce®-7700 designation for bonding steel and aluminum together.

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Engineering Adhesives Market size was valued at USD 19.70 billion in 2022 and is poised to grow from USD 21.12 billion in 2023 to USD 36.84 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

A number of powerful companies are striving for market share in the engineering adhesives market, thus fueling intense market rivalry which makes up the market’s competitive landscape. These key players focus on market expansion efforts, product innovation, and strategic collaborations to gain a competitive edge against others. The heavy competition is further heated up due to a steady flow of new entrants that want to take advantage of the growing demand for high-performance adhesive solutions. '3M Company (US)', 'Arkema (France)', 'Ashland (US)', 'Dow Inc (US)', 'Dymax Corporation (US)', 'H.B. Fuller Company (US)', 'Henkel AG & Co. KGaA (Germany)', 'Huntsman Corporation (US)', 'LORD Corporation (Parker Hannifin Corp) (US)', 'Permabond LLC (US)', 'Toyochem Co., Ltd. (Japan)', 'Bostik (France)', 'Pidilite Industries Ltd. (India)', 'SCIGRIP (UK)', 'Illinois Tool Works Inc. (US)', 'Uniseal Inc. (US)', 'Mapei S.p.A. (Italy)', 'Sika AG (Switzerland)', 'Wacker Chemie AG (Germany)', 'Royal Adhesives & Sealants (US)'

The growing demand for compact and fuel-efficient vehicles are one of the most significant market drivers of the engineering adhesives market. The joining of lightweight materials like aluminum and composites in the automotive industry is significantly improved with the use of engineering adhesives. Manufacturers depend on engineering adhesives to enhance structural integrity, reduce vehicle weight, and finally produce vehicles which are cost-effective and eco-friendly as they strive to improve fuel efficiency and adhere to stricter emissions regulations. This environmentally conscious demand is increasing the adoption rate of engineering adhesives all over the automotive sector, thus driving market growth.

Growing Emphasis on Sustainability and Eco-Friendly Adhesives: The engineering adhesives market is heavily influenced by a key trend. That is the growing focus on environmentally friendly and green bonding solutions. This trend is a direct result of the rising concerns about the environment. Producers are making substantial R&D investments to create high-performance adhesives that comply with the demand of eco-friendly consumers. This drives further market innovation. This targets the reduction of volatile organic compounds (VOCs) and improves environmental impact. These products must also be recyclable, which will also drive market demand. Market players that meet these changing preferences and comply with environmental regulations are gaining an edge over their competitors. The introduction of sustainable adhesive solutions further overall market growth notwithstanding the competition.

The engineering adhesives market is currently being led by Asia Pacific. This region’s prominence in the market can be credited to its manufacturing and industrial sectors, who are particularly thriving in countries like South Korea, China, and Japan. The influential electronics, automotive, and construction industries of these countries are the top consumers of engineering adhesives.

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Global Engineering Adhesives Market

Report ID: SQMIG15A2284

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