Engineering Adhesives Market to Grow with a CAGR of 6.23% through 2028
Increasing demand for lightweight and strong materials
and Rising demand from end-use industries driving the Global Engineering
Adhesives market in the forecast period 2024-2028
According to TechSci Research report, “Engineering
Adhesives Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Engineering Adhesives
Market has valued at USD 19.56 billion in 2022 and is anticipated to project
robust growth in the forecast period with a CAGR of 6.23% through 2028
In recent years, the global engineering adhesives
market has experienced significant developments that have contributed to its
growth and evolution. These developments are a result of several factors,
including technological advancements, changing consumer preferences, and the
increasing demand for high-performance adhesive solutions across various
industries.
One notable development in the global engineering
adhesives market is the emphasis on sustainability and environmental
responsibility. As awareness of environmental issues continues to grow, there
has been a notable shift towards eco-friendly adhesives with lower volatile
organic compound (VOC) emissions. Manufacturers are investing in research and
development to create adhesives that meet stringent environmental regulations
while maintaining their adhesive properties. This trend aligns with the broader
sustainability goals of many industries.
Additionally, the automotive sector has been a driving
force in the growth of the engineering adhesives market. Automakers are
increasingly turning to adhesives as an alternative to traditional mechanical
fasteners in vehicle assembly. This shift is motivated by the desire to reduce
weight, improve fuel efficiency, and enhance vehicle safety. The development of
high-strength, lightweight adhesives that can withstand the rigors of
automotive applications has been pivotal in this regard.
Another important development is the expansion of the
electronics and aerospace industries. With the growing demand for smaller and
more complex electronic devices, as well as the need for lightweight materials
in aerospace applications, engineering adhesives have found extensive use. These
adhesives provide the necessary bonding strength, thermal stability, and
protection against environmental factors.
Furthermore, advancements in nanotechnology have
opened up new possibilities in the engineering adhesives market. Nanoadhesives,
which utilize nanoparticles to enhance bonding properties, are gaining
attention for their ability to provide stronger and more durable bonds in
various applications.
Lastly, the global engineering adhesives market has
witnessed a surge in mergers and acquisitions as companies seek to expand their
product portfolios and market reach. These strategic moves are helping
companies stay competitive and respond to the evolving needs of industries.
In conclusion, the recent developments in the global
engineering adhesives market underscore its dynamic nature and its importance
across diverse industries. The market's growth is being driven by a combination
of sustainability concerns, technological innovation, and increased adoption in
critical sectors like automotive, electronics, and aerospace. As the demand for
high-performance and environmentally responsible adhesive solutions continues
to rise, the engineering adhesives market is poised for further expansion and
innovation.
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Adhesives Market”
The Global Engineering Adhesives Market is segmented
into product, Application, regional distribution, and company.
Based on the application , the transportation segment is projected
to experience rapid growth during the forecast period. This is due to the
increasing demand for lightweight and strong materials in the automotive and
aerospace industries. Engineering adhesives are used to bond these materials
together, which helps to reduce the weight of vehicles and aircraft and improve
their fuel efficiency.
The construction segment is another
important segment of the engineering adhesives market. Engineering adhesives
are used in a variety of construction applications, such as bonding concrete,
metal, and glass. These adhesives also help to improve the durability and
weather resistance of buildings and other structures.
The Asia-Pacific region is poised to assert its
dominance in the global market, primarily due to its well-established
automotive and electronics sectors. Over the years, significant investments
have consistently been made in the region to propel advancements in both the
industrial and renewable energy sectors.
China, in particular, has emerged as a major player in
terms of both electronics’ consumption and production. This surge in China's
electronics industry has led to a notable uptick in demand for engineering
adhesives across the Asia-Pacific region in recent times.
Despite a recent downturn in automotive manufacturing,
Asia-Pacific remains the largest global consumer of automobiles. According to
the Organisation Internationale des Constructeurs d'Automobiles (International
Organization of Motor Vehicle Manufacturers), the Asia-Pacific region has been
at the forefront of global automobile production in recent years. China, with
its multitude of automobile manufacturing facilities, accounts for a
substantial portion of the demand for engineering adhesives.
The burgeoning renewable energy industry in countries
like China, India, Singapore, and Korea, spurred by government support and
advancements in power generation, is also a significant driver of the growing
demand for engineering adhesives in the region.
Major companies operating in Global Engineering
Adhesives Market are:
- 3M Co.
- Anabond
- Arkema S. A
- Ashland Global Specialty Chemicals Inc
- Beijing Comens
- Dow Corning Corporation
- Dow, Inc.
- DuPont de Nemours, Inc.
- Duratek
- Dymax Corporation
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“The global engineering adhesives market is
experiencing significant growth and evolution, driven by several key factors.
There is a growing emphasis on sustainability and environmental responsibility,
leading to the development of eco-friendly adhesives with reduced volatile
organic compound (VOC) emissions. These adhesives are aligned with the
increasingly stringent environmental regulations across industries.
The automotive sector has played a pivotal role in market
growth, with automakers adopting adhesives to reduce weight, improve fuel
efficiency, and enhance safety in vehicle assembly. High-strength, lightweight
adhesives are becoming essential components in the automotive manufacturing
process. Expanding electronics and aerospace industries are also driving market
demand, as engineering adhesives offer the required bonding strength, thermal
stability, and protection against environmental factors.
Nanotechnology has brought forth innovative nano
adhesives, offering stronger and more durable bonding properties. Furthermore,
mergers and acquisitions are reshaping the competitive landscape as companies
seek to broaden their product portfolios and market reach.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Engineering Adhesives Market- Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product
(Epoxies, Polyurethanes, Cyanoacrylates, Methacrylates, and Other), By Application
(Transportation, Construction, Electrical & Electronics, Energy, and
Others), By Region and competition”, has evaluated the future growth potential of Global
Engineering Adhesives Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Engineering
Adhesives Market.
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