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

Global 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).

In recent years, there has been a steady trend of growth and expansion in the global engineering adhesives market. As a result of the increasing demand for high-performance adhesives in the aerospace, construction, and automotive industries, the market has experienced substantial growth. The overall longevity and efficiency of products and structures in these industries is improved with the use of engineering adhesives due to their ability to provide durable and strong bonds.

The innovation in the market has been fueled by a growing emphasis on eco-friendly and sustainable adhesive solutions. In order to manufacture products which align with these environmentally conscious goals while maintaining performance standards, producers are heavily investing in R&D to produce more advanced adhesives. The market is expected to grow further in the near future as industries keep evolving and fueling demand for advanced adhesive solutions

Currently, Epoxies lead the products segment of the global engineering adhesives market, although the Methacrylates segment is quickly climbing up the ladder owing its exponential growth to ability to deliver fast cures and resistance to several environmental conditions. The transportation industry has supplied the largest share of market demand, however the electronic and electric sector is seeing a quick rise in gaining market share due to its growing demand for engineering adhesives.

Though the global engineering adhesives market has witnessed a significant growth in recent years, specifically in regions like Asia-Pacific and North America, there are certain challenges that threaten thai upward trajectory. The high costs of raw materials and delays in production and distribution due to supply chain disruptions pose a huge problem.

Despite the constraints, the global engineering adhesives market is poised for continued growth in the coming years thanks to the spreading awareness of the importance of these products.