Global Engineering Adhesives Market By Product (Epoxies, Polyurethanes, Cyanoacrylates, Methacrylate, Other Products), By Application (Transportation, Construction, Electrical & Electronics, Energy, Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Engineering Adhesives Market Overview:

Global engineering adhesives market value was USD 24,315.4 million in 2021. It is expected to grow at a 7.8% CAGR between 2023 and 2032.

The market is experiencing a boom in demand from the end-use sectors, including electronics and transportation.

Global Engineering Adhesives Market Scope:

Product Analysis

Epoxies held the largest market share at 36.9% in 2021, and they are expected to continue growing at a rapid pace over the next seven years. These products are ideal for structural linkage applications as they offer a high degree of freedom. These products are used in a variety of applications, including hinges & brackets and potting terminals. The Cyanoacrylates segment is expected to grow at a 7.9% CAGR in terms of revenue between 2023 and 2032. These products have a low shear strength which allows them to be used in temporary bonding applications. Products made from Cyanoacrylates are used in many industries, including electronics, woodworking, and cosmetics. Because they can join many substrates, the demand for polyesters is growing. These products are also strong and can be used in many sealing and bonding applications. This segment is driven by growing demand from the equipment and machinery industries as well as the construction industry.

Application Analysis

The market for engineering adhesives can be divided into four segments based on their application: transportation, construction, electrical and electronics, energy, etc. The largest segment was transportation, accounting for 29.1% of the total volume. This is due to the rising demand for vehicle components being joined together in assemblies and replacing fasteners with adhesive products.
The government invests in the promotion of renewable energy. Over the forecast period, wind energy will provide plenty of opportunities for adhesive producers. Because of its enormous energy potential, emerging economies like India and China have been paying special attention to this sector. According to India’s Ministry of New and Renewable Energy, the country is ranked in the 5th and 4th positions, respectively, for both solar and wind capacity around the globe. It also stated that it will produce 40% of its power from renewable energy by 2032.

Key Market Segments:

By Product

• Epoxies
• Polyurethanes
• Cyanoacrylates
• Methacrylates
• Other Products

By Application

• Transportation
• Construction
• Electrical & Electronics
• Energy
• Other Applications

Market Dynamics:

Asia Pacific has seen an increase in demand for engineering adhesives. This is due to rising industrial output in emerging nations like India and China. Bonding products have been widely used in construction, transportation, as well as other areas. Polyurethane adhesive products have been developed through the development of fermentation and microbial processes. Vendors will be able to tap into new markets as a result. This is due to the need for specialty products and market differentiation within end-use industries.
These products are becoming increasingly popular due to their rigid bonds, high strength, and high viscosity. These products can be made with a variety of processes, including synthetic or natural formulations. Natural materials include dextrin, vegetable starch, natural oils, animal hides, and other materials. The engineered adhesive is a critical component in improving the reliability and quality of equipment and machinery. These adhesives can be used to increase dynamic and static strength, and prevent corrosion during assembly. These products are increasingly being used in sealing, thread locking, gaskets, and other applications.

Market participants will be able to take advantage of structural bonding in engineering applications. Advanced bonding products can be used to glue different substrates, such as glass, metal, or plastic. These products offer benefits such as uniform stress distribution and weight reduction, as well as improved fatigue resistance.

Regional Analysis:

Asia Pacific accounted for the highest revenue share, with over 38% in 2021. This is due to China’s massive industrial sector, which includes construction, automobile, energy, electronics, and automotive. The fastest growing sector in China, and all around the globe, is wind energy. The wide use of adhesive products is necessary for the manufacturing of wind turbine blades. According to the Global Energy Council, China leads in terms of both land- and sea-based wind power capacity.

Europe held a 23.8% share of the global market in volume in 2021. The country’s market will be driven by transportation, including the aerospace and marine sectors. According to the Aerospace & Defense Industries Association in Europe (Aerospace & Defense Industries Association), the sector’s annual turnover is approximately USD 247 billion. This sector has a high demand for adhesive products that can bond composites, metals, and plastics.

North America was responsible for 21.8% of the volume share in 2021. The market is driven by the increasing consumption in the automotive and packaging industries. Vendors will have many opportunities in the woodworking industry due to the need for structural bonding applications.

Key Regions and Countries covered in the report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Multinational companies dominate the global engineering adhesive market. They are present at all stages of the value chain. These companies can integrate into the value chain to lower their operations and procuration costs, and diversify their businesses in different end-use industries.

Market Key Players:

• Henkel AG & Co. KGaA
• H.B. Fuller Company
• Permabond LLC
• Arkema S.A.
• 3M Company
• Anabond
• Hexion Inc.
• Other Key Players

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For the Engineering Adhesives Market research study, the following years have been considered to estimate the market size: