The Total Addressable Market (TAM) for High-Performance Adhesives was valued at USD 32.2 billion in 2022. It is projected to reach USD 42.01 billion by 2031, growing at a CAGR of 3% during the forecast period (2023–2031).
The high-performance adhesive creates strong bonds on most plastics, including polypropylene (PP), polyethylene (PE), and polyolefin blends. Clings securely to rigid polystyrene, nylon, polyester, and other plastics like ABS, PMMA, and nylon. Resists moisture, the elements, and cleaning agents. It provides flexible bonds that are strong and quickly dry. High-Performance Adhesive can quickly meet your bonding application's needs. At room temperature, this quick-drying adhesive creates a strong bond that won't deteriorate in UV or sunlight. High-performance adhesives are perfect for construction materials like drywall, hardwood flooring, stone, marble, slate, cement-based products, lead, fiberglass, and ceramic because of their excellent chemical, temperature, and wear resistance.
The product is also becoming more prevalent in the transportation and automotive industries. Globally increasing private and public spending on healthcare, real estate, and construction is a crucial factor driving the market for high-performance adhesives. The exceptional mechanical and physical qualities of high-performance adhesives make them suitable for various high-end applications in the medical and aerospace industries. Throughout the assessment period, the medical and aerospace end-user sectors are anticipated to have the most vital compound annual growth rates.
The main factors propelling the market growth are the increasing demand for high-performance adhesives, miniaturization, and automation in the electronics industry. High-performance adhesives are widely used in the construction, automotive, and electronics industries. Due to rapid automation and miniaturization in the consumer electronics industry, the use of high-performance adhesives in products, such as touch screens and hardware, is expected to grow, fueling the market's expansion. The UV-cured adhesive is the most popular high-performance adhesive and is widely used in the electronics industry to increase production rates. The demand for these high-performance adhesives will also increase due to the robust growth of emerging economies like China and India. As a result of the rapid growth in the manufacturing industry across the globe, particularly in the Asia Pacific, the demand for high-performance adhesives is swiftly increasing.
Due to increased regulations and public awareness, key manufacturers have been compelled to create non-hazardous, eco-friendly, and sustainable adhesives and sealants. For bonding applications in building products, Henkel AG & Co. KGAA, for instance, offers sustainable polyurethane adhesives without added formaldehyde. Furthermore, Sika AG, a top producer of structural adhesives, is looking into sustainable options for its adhesive products to keep up with emerging global sustainability trends. Furthermore, according to a 2019 article from the project procurement community B2B Purchase, buyers know the value of using environmentally friendly materials. As a result, it is anticipated that the market will soon benefit significantly from the emergence of non-hazardous and sustainable adhesives and sealants.
Adhesives and sealants produce large amounts of chemical gases, which are dangerous and harmful to breathe. As a result, the rules governing their use are getting stricter. Moreover, manufacturers are increasingly concerned about the growing consumer awareness of environmental and health issues. The vice president of Emerald Performance Materials claims that "The industry is facing tough challenges due to the regulatory environment. Environmental protection organizations, like the U.S. Environmental Protection Agency, are taking new actions and putting more barriers and restrictions in the way of manufacturers." The automotive industry is constantly working to create efficient, lightweight vehicles that can significantly lower CO2 emissions. Around the world, CO2 emissions are subject to strict regulations. High-quality adhesives significantly reduce CO2 emissions by giving the vehicle structural strength.
Future global demand is most likely to be sparked by escalating investments in the healthcare industry. For instance, due to their involvement in the search for COVID-19 treatments, the healthcare and biotechnology sectors have demonstrated strong resilience compared to other industries. Global governments are expected to make extensive preparations to avoid harmful medical resource shortages in the event of the next pandemic. A rise in product demand is most likely to result from these preparations. These adhesives are used in medical applications for both skin and non-skin surfaces. The medical sector of the high-performance adhesives market is anticipated to proliferate during the forecast period due to an increase in the geriatric population and emphasis on sophisticated healthcare procedures. The healthcare sector has been driven by the rising prevalence of chronic diseases and technological advancements, which will further support market expansion.
The high-performance adhesives market is segmented by product, technology, and end-use industry.
Based on product, the global high-performance adhesives market is bifurcated into acrylic, polyurethane, epoxy, silicone, and others.
The epoxy segment is the highest contributor to the market and is expected to grow at a CAGR of 5.79% during the forecast period. Due to its extensive application compared to other segments, the epoxy product type became popular. Due to epoxy adhesives' excellent temperature resistance and their compatibility with various substrates used in various end-user industries, this product type is anticipated to maintain its dominance during the prediction period. Additionally, the substitutes for epoxy adhesives are widely utilized by end-use industries and are highly compatible. Adhesives with low VOCs and high performance are some of the alternatives. Therefore, over the forecast period, the acrylic segment in the market for high-performance adhesives is also anticipated to grow significantly.
Based on technology, the global market is bifurcated into water-based, solvent-based, hot melt, reactive, and others.
The water-based segment is the highest contributor to the market and is expected to grow at a CAGR of 6.41% during the forecast period. Water-based adhesives are either manufactured as dry powders that manufacturers and distributors must mix with water to obtain the adhesive properties or supplied as pre-mixed solutions. These characteristics are attained when either water is absorbed by the substrate or evaporated from the glue line. High-performance adhesives based on water-based technology provide excellent polar substrate adhesion and resistance to harsh environmental conditions. Construction and packaging are two of this technology's primary industries of use. The bonds formed between surfaces are more susceptible to moisture and water because the polymers in water-based adhesives are water-soluble.
Based on the end-use industry, the global high-performance adhesives market is bifurcated into construction, packaging, transportation, electrical & electronics, medical, and others.
The medical segment is the highest contributor to the market and is expected to grow at a CAGR of 6.17% during the forecast period. The application of cyanoacrylate and UV-curable high-performance adhesives in various medical devices and accessories will continue to be prompted by the elderly population's exponential growth and technological advancements in medical devices. This will include silicone rubber parts, IV syringes, catheters, delivery systems, and hearing aids. Additionally, developments and advancements in the medical industry will likely increase the demand for high-performance adhesives over the ensuing years. Growing aging populations, an increase in cardiovascular diseases caused by unhealthy lifestyles, and the potential for another novel infectious disease pandemic like COVID-19 are all predicted to prompt significant investments in the healthcare sector from national governments and international organizations, supporting segment growth over the coming years.
The global high-performance adhesives market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.
Asia Pacific Dominates the Global Market
Asia Pacific is the most significant shareholder in the global high-performance adhesives market and is expected to grow at a CAGR of 6.3% during the forecast period. China, Australia, India, Japan, and the rest of Asia-Pacific are all included in the analysis of the Asia-Pacific high-performance adhesives market. The expansion can be attributed to the rise in consumer purchasing power, which has fueled demand for various goods and, in turn, expanded the number of end-use industries. The development of the high-performance adhesives market is also being accelerated by the region's countries' rapid industrialization, industrial GDP growth, and manufacturing output. Due to increased urbanization and new infrastructure development initiatives, the region is predicted to experience a significant increase in construction activities. It is anticipated that several government infrastructure development programs, including the Chinese government's "One Belt One Road Initiative" and other upcoming projects, will increase the region's demand for high-performance adhesives. The availability of skilled laborers and low manufacturing costs are expected to cause manufacturers in the area to shift their focus toward sectors like electronics, e-commerce, healthcare, packaging, and automotive, which present opportunities for regional market growth.
Europe is expected to grow at a CAGR of 6.5% during the forecast period. The UK, Germany, France, Italy, Spain, and the rest of Europe are all included in Europe's high-performance adhesives market analysis. High-performance adhesives are used in automotive applications such as metal or composite bonding, friction, headlight assembly, etc., which contributes to the expansion of the automotive industry. Many of the top automotive brands are based in Europe, one of the continents with the most significant automotive production. Implementing beneficial policies from the European Union Commission for the local automotive industry, such as "GEAR 2030" or "European Battery Alliance," aims to create a stable internal market with environmental protection and safety. Furthermore, the region is home to several developed nations, including Germany, France, and the United Kingdom, with significant demand for high-performance adhesives from various important end-use industries, including construction and packaging.
The global high-performance adhesives market’s major key players are
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