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Engineering Adhesives Market Poised for Steady Growth Driven by Rising Industrial Demand

06-20-2024 05:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Reports and Data

Engineering Adhesives Market

Engineering Adhesives Market

The global engineering adhesives market is expected to witness significant growth in the coming years, driven by rising demand from various end-use industries. According to Reports and Data, the market size was valued at USD 10.3 billion in 2022 and is projected to reach USD 18.9 billion by 2032, at a compound annual growth rate (CAGR) of 7.2%.

Market Overview

Engineering adhesives are specialized bonding agents designed for high-performance applications in various industries. These adhesives offer superior strength, durability, and resistance to environmental factors compared to traditional glues.

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Key Trends Shaping the Market

Several trends are shaping the engineering adhesives market:

Increasing Demand from End-Use Industries: The growing demand from industries like construction, transportation, and electronics is a primary driver of market growth. These industries require strong and reliable adhesives for assembling various components.

Technological Advancements: Manufacturers are constantly developing new and improved adhesive formulations with enhanced properties like faster curing times, higher temperature resistance, and better flexibility.

Focus on Sustainability: The growing emphasis on sustainability is driving the development of eco-friendly adhesives made from bio-based materials.

Market Drivers and Restraints

Drivers:

Rising industrialization in developing economies, particularly in Asia Pacific

Growing demand for lightweight and durable materials in various applications

Increasing adoption of automation in manufacturing processes, which necessitates fast-curing adhesives

Restraints:

Stringent regulations on the use of volatile organic compounds (VOCs) in adhesives

Fluctuations in raw material prices

Availability of skilled labor for applying advanced adhesives

Growth Opportunities

The engineering adhesives market presents exciting growth opportunities for manufacturers who can:

Develop innovative and sustainable adhesive solutions

Cater to the specific needs of emerging end-use industries

Expand their presence in high-growth regions like Asia Pacific

Key Market Insights

The market is dominated by multinational companies like Henkel, H.B. Fuller, 3M, and Dymax Corporation.

Asia Pacific is expected to be the fastest-growing regional market due to the burgeoning industrial sector in the region.

The increasing demand for lightweight materials in automotive and aerospace applications is driving the growth of the epoxy adhesives segment.

Browse Detailed Summary of Research Report with TOC: https://www.reportsanddata.com/report-detail/engineering-adhesives-market

SWOT Analysis

Strengths:

Superior performance compared to traditional adhesives

Wide range of applications across various industries

Continuous development of innovative formulations

Weaknesses:

Higher cost compared to traditional adhesives

Stringent regulations on VOC content

Potential health hazards associated with certain adhesives

Opportunities:

Growing demand from emerging economies

Development of sustainable and eco-friendly adhesives

Increasing adoption of automation in manufacturing

Threats:

Fluctuations in raw material prices

Competition from new and innovative adhesive technologies

Stringent environmental regulations

Competitive Landscape:
The global engineering adhesives market is highly competitive, with several large and medium-sized players accounting for a significant portion of the market revenue. The market is expected to grow due to the increasing demand from various end-user industries such as automotive, aerospace, and construction. Major players in the market are utilizing various strategies such as mergers and acquisitions, partnerships, product launches, and collaborations to expand their presence in the market.

Some of the major companies included in the global engineering adhesives market report are:

Henkel AG & Co. KGaA

3M Company

H.B. Fuller Company

Huntsman Corporation

Arkema S.A.

Sika AG

Ashland Global Holdings Inc.

Bostik SA

Dow Inc.

Avery Dennison Corporation

Latest Strategic Developments

In 2021, Henkel AG & Co. KGaA launched its Loctite EA 3501HT product line, which is a high-temperature engineering adhesive that provides excellent bonding strength and thermal resistance. The product line is ideal for use in high-temperature applications such as automotive, aerospace, and electronic industries.

In 2020, 3M Company launched its Scotch-Weld product line, which is an engineering adhesive that provides excellent bonding strength and durability. The product line is ideal for use in industrial applications such as construction, transportation, and aerospace.

In 2019, H.B. Fuller Company acquired Royal Adhesives & Sealants, a leading manufacturer of high-performance adhesives and sealants. The acquisition was aimed at expanding H.B. Fuller Company's product offerings in the industrial adhesives market.

Segments Covered in Report:
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each of segments and sub-segments from 2019 to 2032. For the purpose of this report, Reports and Data has segmented the global engineering adhesives market based on product type, application, end-use industry, and region:

By Product Type Outlook

Epoxy

Acrylic

Polyurethane

Silicone

Others

By Application Outlook

Automotive

Aerospace

Construction

Electronics

Others

By End-Use Outlook

Manufacturing

Construction

Electronics

Transportation

Others

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Country scope

U.S.; Canada; U.K.; Germany; France; BENELUX; China; India; Japan; South Korea; Brazil; Saudi Arabia; UAE; Turkey

Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com

About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision.

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