Global High Performance Adhesives Market: Snapshot

The global high performance adhesives market is anticipated to propel the demand as the usage of high-performance adhesives increases in various applications in industries. High-performance adhesives are recognized due to certain properties such as mechanical and physical, which is suitable for use in premium applications in medical and aerospace industries. These adhesives have high temperature and moisture resistance, good tensile strength, higher elasticity, and less curing time. Most of the demand is expected to come from aerospace and medical industry owing to their exceptional mechanical and physical properties. This in turn, is likely to expand the growth of high-performance adhesives market in the forecast period 2018-2024.

The global high performance market is anticipated to grow at a strong CAGR of 5.7% during the forecast period.

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Epoxy and Solvent-based Adhesives to Lead the Global Market from 2018-2024

The global high-performance adhesives market is bifurcated into silicone, epoxy, acrylic, and polyurethane. Among these, epoxy is projected to dominate the global market throughout the forecast period. This adhesive is used extensively owing to its extreme resistance for heat. In addition to this, the alternatives for epoxy adhesives are highly compatible and are used widely by end-use industries.  The alternatives include adhesives such as high-performance with low VOCs and ware-based.  Hence, acrylic segment is also expected to grow significantly in the high-performance adhesives market over the forecast period. According to technology, the global market for high-performance adhesives is segmented into water-based, solvent-based, UV-curable, and hot melt. Of these, the solvent-based accounted for the majority of market share. But at the same time, this segment is observing a gradual decrease as it contains VOCs (Volatile Organic Adhesives) which possess harmful effects. In the coming years, water-based adhesive market is likely to grow owing to the rising awareness about VOCs. Furthermore, this adhesive has very less amount of VOCs in them. 

Asia-Pacific to Grow substantially during the Forecast Period

The global high-performance adhesive market is fragmented into different regions such as Europe, North America, Latin America, MEA, and Asia Pacific. Among these, Asia Pacific is anticipated to lead the high-performance adhesives market in the forecast period. This is majorly due to the growing purchasing power capacity in some of the emerging countries such as India and China. People in these countries are shifting to expensive products which eventually lead to the use of superior adhesives. Asia Pacific is followed by Europe which is the second largest high-performance adhesives market. North America is also estimated to grow moderately in the forecast period and markets such as MEA and Latin America are expected to rise rapidly in the coming years.

The automotive sector is continuously developing and working towards making lightweight vehicles. These lightweight vehicles may emit carbon dioxide at a significant rate. Government from different regions have passed strict regulations with respect to carbon dioxide emissions. These regulations are followed across the world. High-performance adhesives help in reducing carbon dioxide emissions. These adhesives provide structural strength and have the ability to link together different surfaces in a vehicle. The vehicle becomes safer, quicker, and lighter by using high-performance adhesives which is better in comparison with the mechanical or traditional methods for instance bolting, soldering, and welding. Presently, the amount of adhesives used in a car is around 15 kgs. This amount is expected to rise in the forecast period, which would drive the demand for global high-performance adhesives from 2018-2026.

The global high-performance adhesives market is overseeing an intense competition due to the presence of numerous players. These players have the technical know-how and are capital intensive. Some of the prominent players in the global high-performance adhesives market which include 3M, Henkel AG, Avery Dennison, Pidilite, Huntsman Corporation, Illinois Tool Works, Sika, and HB Fuller.

 

High performance Adhesives Market - Overview

High-performance adhesives possess superior properties such as high tensile strength, high temperature resistance, low curing time, high elasticity, high durability, and excellent moisture resistance. These adhesives are commonly utilized in critical and complex applications, wherein enhanced performance of adhesives is required. Leading manufacturers of adhesives as well as research institutions are making significant investments to develop durable, low-cost high-performance adhesives and to improve their properties for critical and complex applications in industries such as transportation and medical. The medical segment of the high-performance adhesives market is projected to witness rapid growth during the forecast period. Advancements in medical device assembly technologies and requirements for superior performance of adhesives in industries such as aerospace are anticipated to fuel the global high-performance adhesives market during the forecast period.

Based on product, the global high-performance adhesives market has been segmented into epoxy, silicone, polyurethane, and acrylic. Epoxy is the most widely used type of high-performance adhesives. The epoxy segment is likely to dominate the global high-performance adhesives market during the forecast period, due to high temperature resistance of epoxy adhesives and their compatibility with dissimilar substrates used in a wide range of end-use industries. Epoxy adhesives are widely being replaced by water-based, acrylic high-performance adhesives that contain a small amount of VOCs. Acrylic is estimated to be the rapidly expanding segment during the forecast period.

In terms of formulation technology used, the global high-performance adhesives market can be segmented into solvent-based, water-based, hot melt, and UV-curable. The solvent-based segment accounts for a major share of the market. However, the demand for solvent-based adhesives is gradually decreasing, due to harmful effects of volatile organic compounds (VOCs) contained in them. Awareness about VOCs has led to adoption of water-based high-performance adhesives that contain VOCs in traces. The water-based segment is expected to expand at a rapid pace during the forecast period.

Based on region, the global high-performance adhesives market can be classified into: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is estimated to be the leading market for high-performance adhesives in the next few years. The market in Asia Pacific is estimated to expand rapidly during the forecast period. This growth can be attributed to increase in the purchasing power of people in countries such as China and India, which leads to growing adoption of high end-products that use high-performance adhesives. Middle East & Africa and Latin America are also estimated to witness high increase in the demand for high-performance adhesives. The market for high-performance adhesives in Europe is projected to expand at a low rate during the forecast period, as it is an already mature market. Manufacturers in developed regions have limited presence in Middle East & Africa and Latin America. These regions are projected to create lucrative opportunities for high-performance adhesives manufacturers in the next few years. Strengthening distribution channels in these regions is anticipated to help these companies expand their footprint in the near future.

The report analyzes and forecasts the high-performance adhesives market at the global and regional levels. The market has been projected in terms of volume (tons) and revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global high-performance adhesives market. It also covers the expected impact of these drivers and restraints on the demand for high-performance adhesives during the forecast period. The report also highlights growth opportunities for the high-performance adhesives market at the global and regional levels.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global high-performance adhesives market. Porter’s five forces model for the high-performance adhesives market has also been included to help understand the competition landscape. The study encompasses market attractiveness analysis, wherein type, formulation technology, and end-user industry segments have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global high-performance adhesives market by segmenting it in terms of type, formulation technology, end-user industry, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes current and future demand for high-performance adhesives in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual type, formulation technology, and end-user industry segments of the market in all regions.

The study includes profiles of major companies operating in the global high-performance adhesives market. Key players profiled in the report are Henkel AG, Bostik, 3M, Avery Dennison, HB Fuller, Pidilite, ITW, Delo, Huntsman Corporation, and Sika. Market players have been profiled in terms of company overview, business strategies, and recent developments.

The report provides the estimated market size of the global high-performance adhesives market for 2017 and forecast for the next nine years. The size of the global high-performance adhesives market has been provided in terms of revenue. Market numbers have been estimated based on type, formulation technology, end-user industry, and region. The market size and forecast for each type, formulation technology, and end-user industry segment has been provided for the global and regional markets.

Global High-performance Adhesives Market, by Type

  • Acrylic
  • Epoxy
  • Polyurethane
  • Silicone

Global High-performance Adhesives Market, by Formulation Technology

  • Water-based
  • Solvent-based
  • Hot Melt
  • UV-curable

Global High-performance Adhesives Market, by End-user Industry

  • Automotive
  • Electronics
  • Packaging
  • Medical
  • Construction
  • Aerospace
  • Others
    • Marine
    • Leather & Footwear

Global High-performance Adhesives Market, by Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Key Takeaways

  • The report provides extensive analysis of market trends from 2017 to 2026 to identify opportunities and market developments
  • It provides analysis of various types, formulation technologies, and end-user industries wherein high-performance adhesives are used
  • It identifies key factors responsible to build a roadmap for upcoming opportunities for the high-performance adhesives market at the global, regional, and country levels
  • The report offers comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global high-performance adhesives market between 2018 and 2026
  • The report provides detailed competition landscape of key players operating in the market to understand competition level
  • The report also offers Porters’ five forces analysis to highlight the power of buyers and suppliers in the market
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