Industrial Adhesives Market Industrial Adhesives Market by Product Type, Technology, End Use & Region | Forecast 2023 to 2033 Ongoing Research to Develop Environmentally Safe Bio-adhesives Fit for Industrial Domains is the Highlight of this Decade- FMI Captures New Developments in the Marke Industrial Adhesives Market Snapshot Worldwide sales of industrial adhesives are estimated to rise at a CAGR of 4.4% from US$ 57,444 million in 2023 to US$ 85,786.4 million by the end of 2033. Factors that are Estimated to Drive Market Growth A variety of industrial, macroeconomic, and development factors, such as urbanization, industrialization, construction projects, infrastructural facilities, technological breakthroughs, and so on. Rapid expansion in numerous end-use industries has contributed to a significant rise in demand for adhesives required in a wide range of end-use fields. Significant growth rates owing to substantial consumption from the industrial and construction sectors in India, China, and several ASEANcountries. The packaging industry is also thriving as a result of e-commerce growth, rapid urbanization, and other characteristics. Adhesives for Automotive Industry is Experiencing Exponential Growth There is a rapid growth toward compact, low-carbon-emitting vehicles, which is backed up by strict government regulations. Vehicle-reduced weight is crucial for boosting fuel efficiency and curtailing pollutant emissions. Adhesives play a vital role in assisting OEMs (original equipment manufacturers) in lessening vehicle weight and complying with stringent environmental standards by minimizing carbon dioxide emissions to a standard rate. The use of adhesives and sealants aids manufacturers in lowering vehicle weight and bringing stiffness and solidity to adhered parts without sacrificing riding comfort. This extends the lifespan of vehicles. As a result, automotive manufacturers prefer industrial adhesives over viable approaches, boosting the demand in the automotive sector. What Is Expected to Be a Key Growth Driver for Industrial Adhesives Market? Rapid urbanization and population growth in developing countries, combined with increasing construction activities in developed markets of Europe and North America is fuelling the demand for industrial adhesives. Market growth is expected to be further driven by rising new building construction, as well as increased improvement and repair activities, and high infrastructure spending. The need for adhesives in flooring, expansion joints, panels, and other end uses are being driven by increased investments in construction and infrastructure, such as airports, bridges, dams, and metro stations. In addition, growth of the middle-class population is expected to propel the need for housing. Increasing demand for permanent, non-slum houses across India and other developing countries, such as Brazil, China, Indonesia, and Vietnam are primarily driven by the growth in population and urbanization. The increasing income in these countries is bolstering the demand for industrial adhesives. For instance, the government of India has reportedly worked out the details of the two new subsidy schemes under the Prime Minister Awas Yojana (PMAY). These government initiatives are further expected to drive the industrial adhesives demand. Which is one of the Key Challenges Faced by Industrial Adhesives Manufacturers? Europe and North America are strictly regulated by environmental laws regarding the production of chemical and petroleum-based products. Authorities such as Epoxy Resin Committee (ERC) and the European Commission (EC) are governing the manufacturing of solvent-based products in these regions. This is affecting the production capacities of manufacturers in Europe and North America regions. Stringent environmental regulations are compelling the manufacturers to focus on producing eco-friendly adhesives, such as water-based adhesives. The United States EPA and other organizations have worked diligently to institute measures designed to reduce the impact of VOCs and other potentially hazardous materials on the environment, workers in manufacturing environments, and end users. The ongoing conversion of solvent-based adhesives to water-based adhesives for certain end uses is an example of this trend. While the underlying health and environmental benefits of these reform measures are hard to dispute, the high costs associated with compliance and raw materials are real and can be substantial – particularly for small companies. 2017 to 2022 Industrial Adhesives Market Outlook Compared To 2023 to 2033 Market Forecast Over the historical period, global sales of industrial adhesives grew at a compound annual growth rate (CAGR) of 4.1%. During the historical assessment period, remarkable growth in industries has been observed, which eventually has bolstered the sales of industrial adhesives. However, owing to the pandemic impact, the historic growth rate had witnessed a certain downfall. Industries such as electronics, glass, packaging, and consumer goods find a wide range of applications for industrial adhesives, which has witnessed robust growth over some recent years. End-use industries, on the other hand, are expected to continue to develop over the forecast period. Given this, Future Market Insights forecasts the worldwide industrial adhesives industry to expand at a CAGR of 4.4% from 2023 to 2033. Predicted Evolution of Industrial Adhesives over the Forecast Period Category-Wise Insights Taxonomy Product Type Top Segment Acrylic Forecast CAGR 5.3% Taxonomy Technology Top Segment Water-based Forecast CAGR 3.5% Which is a Key Selling Product Type in Industrial Adhesives Industry? According to the latest market analysis on industrial adhesives published by Future Market Insights, the global industrial adhesives industry is segmented into six parts acrylic adhesive, epoxy-based adhesive, PVA, polyurethane, and EVA, among others. Among all product types of industrial adhesives, acrylic based adhesives are the top selling type of industrial adhesives, which is expected to account for more than 30% of the market share in overall industrial adhesives market by 2033 end. Acrylic adhesives are used to enhance bonding strength and enrich the aesthetic appeal of metals. Acid and solvent resistance of acrylic adhesives make it an ideal choice for applications in furniture, packaging, and medical devices. Increasing application of the product is pushing the growth of acrylic adhesives market. Historical CAGR (2017 to 2022) 4.6% Forecast CAGR (2023 to 2033) 5.3% Industrial Adhesives in Automotive Industry is Witnessing a Considerable Growth Automotive is one of the key end-use industries of industrial adhesives. Adhesives are used in joining various parts and components, as a substitute for welding process. Industrial adhesives demand in the end-use segment is anticipated to witness a significant growth rate over the forecast period. There is a growing trend of lightweight and low carbon-emitting vehicles supported by stringent environmental regulations. The weight reduction of vehicles is the key to improving fuel efficiency and limiting the emission of pollutants. Adhesives play an important role in supporting OEMs (original equipment manufacturers) in automobile weight reduction strategies and complying with stringent environmental regulations by keeping carbon emissions at a minimum level. The use of adhesives and sealants helps manufacturers reduce vehicle weight and offers additional stiffness and rigidity to the bonded parts without compromising on the riding comfort. This helps increase the life of vehicles, owing to which automotive manufacturers are preferring industrial adhesives over alternative solutions, that is bolstering its demand in automotive industry. Prominent Brands Emphasizing the Combination of Several Approaches and Business Models Given the existence of a many domestic and regional players involved in the manufacturing of industrial adhesives, the global industrial adhesives market is considered a highly consolidated market. The tier-I players in the industrial adhesives industry are evenly split between the large players, who account for roughly 35-40% of the overall market and have a global sales and distribution presence. In order to maximise market opportunity, key manufacturers are placing emphasis on the integration of multiple business models and strategies. For Instance, In 2020, Dow Inc. launched DOWSIL EA-3838 fast curing silicone adhesive for reduced energy usage, greater assembly efficiency at any production volume. In 2020, Henkel collaborated with Sonderhoff Group and now Sonderhoff adhesives are operating under Henkel name. Key Players as Profiled by FMI 3M Sika AG Dow Inc. Henkel AG & Co. KGaA H.B. Fuller Company Arkema S.A. Huntsman Corporation Teraoka Seisakusho co., Ltd. Pidilite Industries Limited FORBO Holding Covestro AG Organik Kimya Panacol-Elosol GmbH Cargill Incorporated Master Bond Inc. Glue Dots International ASTRAL ADHESIVES Super Glue Corporation YAMATO Co., Ltd DELO Adhesives Tonsan Hongshu Adhesive Products Industrial Co., Ltd GRECO (Great Eastern Resins Industrial Co., Ltd.) Vulkaflex Industria Chemlok https://www.futuremarketinsights.com/reports/industrial-adhesives-market