The global High Strength Laminated Adhesives Market is projected to grow at a CAGR of 5.8% from 2024 to 2031. The market value is expected to rise from USD XX billion in 2024 to USD YY billion by 2031.
Asia-Pacific currently dominates the market, with key metrics indicating strong demand across various industrial applications. The market is experiencing steady growth driven by increasing use in automotive and aerospace industries, rising demand in building and construction sector, and growing adoption of lightweight materials in various end-use industries.
Market Trend: Growing demand for sustainable and eco-friendly adhesives
A prominent trend in the High Strength Laminated Adhesives market is the growing desire for environmentally friendly products. As industries around the world migrate towards more ecologically responsible operations, there is a rising emphasis on adhesives with a lesser environmental footprint. This includes low-VOC adhesives, bio-based formulations, and solutions that make it easier to recycle bonded components. For example, the market for bio-based adhesives is predicted to increase at a 4.5% CAGR between 2024 and 2031. Major glue producers are investing in R&D to provide high-performance, eco-friendly adhesives that comply with strict environmental laws while preserving the high strength qualities required for laminated applications.
Market Driver: Increasing adoption in automotive and aerospace industries
The market is being driven primarily by the increasing demand for high strength laminated adhesives in the automotive and aerospace industries. Adhesives are increasingly being used in these industries as an alternative to traditional mechanical attachment methods in order to reduce weight, improve fuel efficiency, and increase structural integrity. The move towards electric vehicles is driving up demand in the automotive industry, as these vehicles require considerable usage of lightweight materials and adhesive bonding. The worldwide electric vehicle industry is predicted to increase at a 22% CAGR between 2024 and 2031, thus impacting demand for high strength laminated adhesives. Adhesives are important in the aerospace industry because they connect composite materials used in aircraft components. With the commercial aircraft fleet expected to treble over the next 20 years, there will be a huge increase in demand for high-performance adhesives in this industry.
Market Restraint: Volatility in raw material prices
Despite rising demand, the High Strength Laminated Adhesives market is facing hurdles due to volatility in raw material costs. Many of these adhesives are petroleum-based, making them sensitive to swings in oil prices. For example, the price of epoxy resins, a fundamental component in many high strength adhesives, can fluctuate dramatically due to crude oil prices and supply chain interruptions. Epoxy resin prices changed by up to 15% in 2023 as a result of numerous global economic conditions. This volatility has the potential to reduce manufacturers' profit margins and cause price instability in the end-product market. Furthermore, when chemical restrictions tighten, producers may face higher expenses in acquiring alternative, compliant raw materials, thereby impacting price and market growth.
Epoxy dominates the High Strength Laminated Adhesives Market:
The Epoxy segment currently dominates the High Strength Laminated Adhesives market, owing to its excellent bonding strength, chemical resistance, and versatility across multiple applications. Epoxy adhesives work well in high-stress situations, making them suitable for usage in industries such as automotive, aerospace, and construction.
Recent industrial developments have strengthened the segment's position. For example, developments in epoxy formulas have resulted in faster curing processes and enhanced temperature resistance, broadening its applicability in harsh industrial settings. Some manufacturers have created epoxy adhesives with elongation qualities, which address the previous brittleness of these adhesives while also opening up new application areas.
The global epoxy adhesives market, a large chunk of which is utilised in laminated applications, was estimated at $6.5 billion in 2023 and is predicted to rise at a 6.2% CAGR through 2031. This expansion can be ascribed to causes such as increased use in lightweight car production, increased demand in the electronics industry for circuit board assembly, and increased adoption in wind energy applications for blade bonding.
Furthermore, the drive towards miniaturisation in electronics is increasing need for epoxy adhesives that can generate very tiny bond lines while remaining strong. This is especially important in the creation of smartphones, tablets, and other portable electronic devices, which require a small footprint.
Asia-Pacific leads the High Strength Laminated Adhesives Market:
Asia-Pacific currently dominates the worldwide High Strength Laminated Adhesives market due to its strong manufacturing sector, growing industrialisation, and large investments in infrastructure development. China, Japan, and South Korea, with their strong automotive, electronics, and construction sectors, are chiefly responsible for the region's leadership.
Asia-Pacific's supremacy is due to a number of factors, including the existence of significant industrial centres, increased adoption of advanced bonding methods, and rising demand for high-performance materials in a variety of end-use industries. The region has also been at the forefront of implementing new adhesive technologies, which has contributed to market expansion.
The leading glue producers are increasing their manufacturing capacity in Asia-Pacific to satisfy rising demand. For example, some corporations have announced large investments in new glue facilities in China and India, with an emphasis on high-performance goods for automotive and electronics applications.
Key statistics demonstrate Asia-Pacific's market leadership:
China accounts for over ~34.3% of the worldwide High Strength Laminated Adhesives market.
The automotive adhesives market in India, a major user of high strength laminated adhesives, is expected to rise by 10% year on year in 2023.
In terms of country-specific trends, Japan has recently announced steps to encourage the use of sophisticated materials in its automotive and electronics industries, which are projected to increase demand for high-performance adhesives. Furthermore, the growing emphasis on renewable energy in countries such as China and South Korea is driving up demand for high strength laminated adhesives in wind turbine manufacture.
The High Strength Laminated Adhesives market is characterised by fierce competition among prominent competitors, with each attempting to innovate and gain market dominance. To improve their market positions, leading corporations invest in product development, technical advancements, and strategic collaborations.
Major manufacturers in the market have been spending in R&D to improve adhesive performance, increase sustainability, and explore novel applications. For example, several companies have made tremendous progress in producing bio-based high-strength adhesives to meet the growing demand for environmentally friendly products.
In terms of market share, the top five players control around 45% of the worldwide High Strength Laminated Adhesives market. These companies have a significant global presence and extensive product portfolios that cater to a variety of industries.
According to recent financial reports, the main companies experienced an average revenue growth of 4-6% in their adhesive categories over the last year. This increase is due to rising demand from end-use sectors such as automotive, aerospace, and electronics.
Looking ahead, the competitive landscape is anticipated to change with the arrival of new companies, particularly from emerging markets. Furthermore, cooperation between adhesive makers and end users are likely to stimulate innovation and open up new market prospects, particularly in the development of tailored solutions for specific industrial applications.
The High Strength Laminated Adhesives market is expected to grow steadily in the coming years, fuelled by technical improvements and rising demand from a variety of end-use industries. One unique trend to watch is the development of smart adhesives with self-healing characteristics. These innovative adhesives have the potential to enhance the lifespan of bonded structures while also opening up new applications in industries that require great reliability and durability.
Another notable development is the growing emphasis on multi-material bonding solutions. As industries continue to use mixed-material designs for improved performance and weight reduction, there is an increasing demand for adhesives that can efficiently attach dissimilar materials. This tendency is especially important in the automotive and aerospace industries, where the use of metals, composites, and plastics is becoming more frequent.
In addition, the market is projected to see an increase in the use of structural adhesives instead of traditional mechanical fasteners, particularly in high-performance applications. This move is motivated by the benefits of adhesive bonding in terms of weight reduction, stress distribution, and design flexibility.
Henkel AG & Co. KGaA
3M Company
Sika AG
H.B. Fuller Company
Arkema Group (Bostik SA)
DuPont de Nemours, Inc.
Huntsman Corporation
Dow Inc.
Lord Corporation
Ashland Global Holdings Inc.
July 2023: A renowned adhesive producer introduces a new high-performance, fast-curing epoxy adhesive for automotive applications.
In March 2024, a major adhesive business and an automotive OEM announced a collaborative cooperation to produce specialised bonding solutions for electric vehicles.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Henkel AG & Co. KGaA
5.2. 3M Company
5.3. Sika AG
5.4. H.B. Fuller Company
5.5. Arkema Group (Bostik SA)
5.6. DuPont de Nemours, Inc.
5.7. Huntsman Corporation
5.8. Dow Inc.
5.9. Lord Corporation
5.10. Ashland Global Holdings Inc. (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Growing demand for sustainable and eco-friendly adhesives
6.1.2. Development of smart adhesives with self-healing properties
6.1.3. Increasing focus on multi-material bonding solutions
6.2. Market Drivers
6.2.1. Increasing adoption in automotive and aerospace industries
6.2.2. Rising demand in building and construction sector
6.2.3. Growing adoption of lightweight materials in various end-use industries
6.3. Market Restraints
6.3.1. Volatility in raw material prices
6.3.2. Stringent regulations on chemical compositions
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Epoxy
7.2. Polyurethane
7.3. Acrylic
7.4. Others
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Automotive
8.2. Building & Construction
8.3. Aerospace
8.4. Electronics
8.5. Others
9. BY TECHNOLOGY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Water-based
9.2. Solvent-based
9.3. Hot-melt
9.4. Reactive
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Type:
Epoxy
Polyurethane
Acrylic
Others
By Application:
Automotive
Building & Construction
Aerospace
Electronics
Others
By Technology:
Water-based
Solvent-based
Hot-melt
Reactive
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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