Engineering Adhesives Market

Market Overview:

The global engineering adhesives market size reached US$ 19.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028. The growing employment for potting and masking purposes in consumer electronics, increasing adoption in the manufacturing of helicopter blades, and rising demand for efficient adhesives represent some of the key factors driving the market.

Engineering adhesives are strong joining substances applied to various surfaces for binding them together. They comprise a liquid formulation that is necessary for easily spreading the adhesives over a surface and making intimate molecular contacts with the substrates. They are monomers when applied on substances and later polymerize to become a high molecular weight polymeric adhesive. Engineering adhesives are used to join a wide variety of materials, such as metals, plastics, rubber, fiber composites, wood, and paper products. These adhesives are capable of joining dissimilar materials to create lightweight yet strong and stiff structures. They offer an improved stress distribution in the joints and impart better dynamic fatigue resistance to the bonded components. They also provide design flexibility, which enables designers to implement novel design concepts by using numerous types of materials. They improve the appearance of the joined structure and offer a blemish-free and smooth texture. They also provide improved corrosion resistance compared to spot welding methods. Furthermore, as they possess high optical transparency or opacity and fast-setting capabilities, the demand for engineering adhesives is increasing around the world.

Engineering Adhesives Market Trends:

At present, the rising demand for engineering adhesives, as they are easy to handle and heat and chemical resistant, represents one of the primary factors influencing the market positively. Besides this, the increasing adoption of engineering adhesives in the manufacturing of helicopter blades is propelling the growth of the market. In addition, the growing employment of engineering adhesives for potting and masking purposes in consumer electronics and other products with electrical properties is offering a favorable market outlook. Apart from this, the increasing utilization of engineering adhesives in the automotive industry to join various vehicular parts, improve vehicle dynamics, and stiffen the overall body structure of cars is contributing to the growth of the market. Additionally, the rising demand for efficient adhesives, such as polychloroprene rubber and urethane, in the manufacturing of commercial and military aircraft and maintaining elastomeric structures is supporting the market growth. Moreover, key market players are manufacturing various high-viscosity variants of engineering adhesives that are efficient in gasketing materials. Furthermore, the increasing demand for plywood for building and construction purposes and in furniture making is bolstering the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global engineering adhesives market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Product Insights:

• Epoxy
• Polyurethanes
• Cyanoacrylates
• Methacrylates
• Others
   

The report has provided a detailed breakup and analysis of the engineering adhesives market based on the product. This includes epoxy, polyurethanes, cyanoacrylates, methacrylates, and others. According to the report, epoxy represented the largest segment.

Application Insights:

• Transportation
• Construction
• Electrical and Electronics
• Energy
• Others
   

A detailed breakup and analysis of the engineering adhesives market based on the application has also been provided in the report. This includes transportation, construction, electrical and electronics, energy, and others. According to the report, transportation 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, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for engineering adhesives. Some of the factors driving the Asia Pacific engineering adhesives market included the growing construction activities, rising production of automobiles, increasing demand for heavy machinery in industries, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global engineering adhesives market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 3M Company, Arkema, Ashland, Dow Inc, Dymax Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, LORD Corporation (Parker Hannifin Corp), Permabond LLC, Sika AG, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

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 engineering adhesives market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global engineering 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 engineering 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.