Global Engineering Adhesives Market: Overview

A material used to hold two surfaces together is called an adhesive. An adhesive functions by wetting the two surfaces, adhering to them, developing and maintaining strength after application, and remaining stable. Engineering adhesives are a type of adhesives that are widely used to bond and seal parts of automobiles, electric appliances, electronics, office machines, medical equipment, building materials, furniture, rolling stocks, optical equipment, and glass ceramics. These adhesives are mostly made up of acrylics, epoxies, and urethanes. Based on epoxy, polyurethane, acrylic, and other technologies, engineering adhesives are used to bond materials such as steel, aluminum, engineering plastics, and composites as a substitution for traditional joining techniques. Major types of engineering adhesives are epoxy (one part, two part, and films), acrylic, anaerobic, cyanoacrylate, urethane, and silicone.

Engineering adhesives contribute to approximately 30% of the global market for adhesives. The segment is expected to expand at a rate significantly above the average growth rate of the adhesives industry. The market is characterized by technology formulations that provide high-value solutions to meet specific customer requirements. These adhesives are used in diverse industries such as automobiles, aerospace, rail transport, electronics and communication, electric appliances, construction, telecom, consumer goods, marine and off-shore operations, and furniture. Engineering adhesives mostly compete with traditional joining techniques such as fasteners and welding. These adhesives provide uniform distribution of weight as compared to fasteners or welded joints.

Global Engineering Adhesives Market: Trends and Opportunities

Non-metal substrates that are light in weight and cost less are increasingly used in the construction industry. This is expected to act as a major driver for the engineering adhesives market in the next few years. Major end-user industries such as aerospace, road transport, marine, rail, electronics and communication, and sports and leisure are continuously upgrading their engineering activities to make components lightweight and cost-effective, providing more opportunities for engineering adhesives. Currently, steel and wood substrates are increasingly replaced with lightweight components such as aluminum, engineering plastics, and composites. This, in turn, boosts demand for high-performance adhesives, which are replacing traditional metal joining techniques.

Presently, engineering adhesives is valued at approximately US$ 13 Bn and is likely to expand at a CAGR of approximately 4% from 2015 to 2023. This estimated growth rate is more than the average growth rate of the global adhesives and sealants market. Growth is primarily driven by the ever-advancing industries and technologies and increasing need for well-engineered and sophisticated bonded parts.

Global Engineering Adhesives Market: Major Players

The market for engineering adhesives is dominated by major players that include large corporations such as Henkel AG & Co. KGaA, Huntsman Advanced Materials, Dow Corning Corporation, Permabond, PPG Industries, 3M Company, H. B. Fuller, Evonik Industries, Sika AG, Royal Adhesives & Sealants, RPM International, Inc., Ashland Inc., Illinois Tool Works Inc., MACtac, MAPEI, LORD Corporation, Jowat Corporation, and Arkema S. A.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Engineering Adhesives Market

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