Specialty Adhesives Market

Market Overview:

The global specialty adhesives market size reached US$ 4.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.7 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032. The increasing demand for electric vehicles (EVs), the rising construction activities, and the growing preferences for ready-to-eat (RTE) food products represent some of the key factors driving the market.

Specialty adhesives produce strong bonds that exhibit excellent solvent, water, and temperature resistance. They also offer excellent peel strength, superior durability, and toughness and comprise polyurethane, polypropylene, acetal, polyesters, elastomers, epoxy, methyl methacrylate, and silicone resins to meet specific requirements. They are utilized in electric insulation, synthetic turf installations, and foaming compounds due to their rapid cure and optical clarity properties. They are also used as waterproofing and sealing agents to prevent oxidation and eliminate the effect of self-loosening caused by dynamic loads. Specialty adhesives are used in the manufacturing of personal care products, such as diapers, adult incontinence products, and feminine hygiene products. Besides this, they also find applications in the aerospace, marine, transportation, paper, energy, and electronic industries worldwide. 

Specialty adhesives are employed in the automotive sector to manufacture lightweight components in automobiles for reducing their weight and offering higher efficiency. They improve the versatility and strength, prevent galvanic corrosion, and maintain aesthetic appeal. This, coupled with the increasing demand for electric vehicles (EVs) to reduce the emissions of greenhouse gases, represents one of the major factors strengthening the market growth around the world. Moreover, specialty adhesives are used in the construction industry for flooring, waterproofing, and roofing. The rising construction of residential, commercial, and industrial spaces is also contributing to the market growth. Additionally, the growing adoption of specialty adhesives in numerous medical devices, such as tapes and robes, on account of the increasing number of surgical procedures is influencing the market positively. They are also used to seal medical equipment for maintaining the sterility of the products and protect the medicines from bacterial contamination. This, along with the surging prevalence of chronic diseases among the masses and the rising number of fatal road accidents, is resulting in severe injuries and favoring the growth of the market. Apart from this, specialty adhesives find application in the packaging industry for packing of numerous food products and drinks. This, in confluence with the growing preferences for ready-to-eat (RTE) food products on account of busy lifestyles and the expanding purchasing power of individuals, is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global specialty adhesives market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on product and end use industry.

Product Insights:

• Cyanoacrylates
• Polyvinyl Acetate 
• Polyurethanes
• Acrylic
   

The report has provided a detailed breakup and analysis of the specialty adhesives market based on the product. This includes cyanoacrylates, polyvinyl acetate, polyurethanes, and acrylic. According to the report, polyurethanes represented the largest segment.

End Use Industry Insights:

• Aerospace
• Automotive
• Construction
• Marine
• Medical
• Military
• Others
   

A detailed breakup and analysis of the specialty adhesives market based on the end use industry has also been provided in the report. This includes aerospace, automotive, construction, marine, medical, military, and others. According to the report, the construction industry accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for specialty adhesives. Some of the factors driving the Asia Pacific specialty adhesives market included rising infrastructure projects, increasing export of processed food, and the growing need for electronic components.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global specialty adhesives market. Detailed profiles of all major companies have also been provided. Some of the companies covered include 3M Company, Advanced Adhesive Technologies Inc., Bostik (Arkema S.A.), Henkel Adhesives Technologies India Private Limited (Henkel AG & Co. KGaA), Master Bond Inc., Nexus Adhesives, Permatex Inc. (Illinois Tool Works Inc.), Savare Specialty Adhesives LLC, Selleys (Duluxgroup), Specialty Adhesives and Coatings Inc, and Worthen Industries. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global specialty adhesives market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global specialty adhesives market?
• What are the key regional markets?
• Which countries represent the most attractive specialty adhesives markets?
• What is the breakup of the market based on the product?
• What is the breakup of the market based on the end use industry?
• What is the competitive structure of the global specialty adhesives market?
• Who are the key players/companies in the global specialty adhesives market?
   

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the specialty adhesives market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global specialty adhesives market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the specialty adhesives industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.