Global Engineering Adhesive Market Overview
The Engineering Adhesive Market Size was estimated at 18.31 (USD Billion) in 2022.The Engineering Adhesive Industry is expected to grow from 18.96(USD Billion) in 2023 to 25.9 (USD Billion) by 2032. The Engineering Adhesive Market CAGR (growth rate) is expected to be around 3.53% during the forecast period (2024 - 2032).
Key Engineering Adhesive Market Trends Highlighted
Key market drivers for engineering adhesives are rising demand from automotive, aerospace and electronics industries, increasing use in structural bonding applications, and growing adoption in medical and packaging industries. Opportunities to be explored include advancements in sustainable and bio-based adhesives, as well as the development of adhesives with improved performance characteristics, such as high-temperature resistance and flexibility. Recent trends in the market include the emergence of self-healing adhesives, the integration of sensors into adhesives for real-time monitoring, and the development of adhesives for new applications, such as in wearable devices and energy storage.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Engineering Adhesive Market Drivers
Increasing Demand for Lightweight and Durable Materials in Automotive and Aerospace Industries
The automotive and aerospace industries are today heavily investing in efforts to reduce the weight of vehicles, with the end goal of improving the efficiency of such vehicles. Engineering adhesives have appeared as one feasible approach to provide a lightweight and sturdy bonding solution that meets said demands of both industries. These adhesives are being used to bond metal, carbon fiber and plastic parts and components. Owing largely to the material properties, such as their lightweight, that are now fairly widely used in both the automotive and aerospace industries, the engineering adhesives leave mechanical fasteners behind both in terms of weight and in terms of durability.
Moreover, as with the case of these two industries, today’s engineering adhesives are designed to bond dissimilar materials, which for fasteners is often impossible or at least very difficult to accomplish. Today, key market players are engaged in efforts to make these engineering adhesives even more high-performing. Specifically, from the market of automotive and aerospace industries, one such innovative solution can be seen by Dow Adhesive – the BETASEAL™ or BETAMATE™.
Such innovations and the investments that companies dedicate to the research of engineering adhesives are further expected to contribute to the expansion of the engineering adhesive market.
Growing Adoption of Advanced Manufacturing Technologies
The use of advanced manufacturing technologies, such as automation and robotics, is leading to the growth of the engineering adhesives market. These technologies require adhesives that can bond a variety of different materials, including metal, plastic and composite. Engineering adhesives are also designed to offer the strength and durability needed to perform in high-stress environments that are common to automated manufacturing processes. Furthermore, technology is also driving the growth of the engineering adhesives market due to the increasing demand for electronic devices, such as smartphones, tablets and laptops, which require adhesives that can bond a variety of materials, including metal, plastic and glass.
Engineering adhesives are designed to offer the strength and durability required to perform in the harsh conditions of electronic devices, such as heat, vibration and moisture.
Rising Environmental Concerns and Regulations
Engineering adhesives are highly demanded nowadays due to their unique characteristics. First of all, growing environmental concerns and increased environmental regulations call for increased demand for the proposed type of adhesive. Engineering adhesives are also more eco-friendly solutions compared to traditional mechanical fasteners no solvents and chemicals are necessary. The type of adhesive can also be recycled; thus, it is a perfect solution for the environment.
Construction in general, is another field where engineering adhesives are applied. Green building is currently highly demanded in the modern world; thus, there is a high demand for engineering adhesives in construction as they are more environmentally safe compared to traditional solutions.
Engineering Adhesive Market Segment Insights:
Engineering Adhesive Market Resin Type Insights
Engineering Adhesive Market is segmented based on Resin Type into Acrylic, Epoxy, Polyurethane, Silicone and Anaerobic. Among these Resin-type segments, Epoxy is expected to dominate the market on account of the demand from the automotive, construction and aerospace industries. The strength, durability and chemical solvent resistance are expected to drive the demand for epoxy adhesives over the forecast period 2024 - 2032. The acrylic segment is expected to register significant growth in the market due to the versatility and cost-effectiveness of the product.
Over the last decade, polyurethane adhesives have found wide applications in the packaging industry, charming it to be the fastest-growing segment. Polyurethane adhesives offer excellent adhesion to a wide range of substrates and are unaffected by moisture, heat or low temperatures. The popularity of silicone adhesives is anticipated to grow in electronics and automotive applications owing to their heat-resistant properties. Similar to epoxy, Anaerobic technology is a relatively new technology, and the key demand is from metalworking applications. All the segments are expected to register a moderate growth rate during the forecast period 2024 - 2032.
The growth is attributed to the need for adhesives in various end-use industries, especially automotive, construction, and aerospace. The heavy cost associated with the reduction of weight coupled with increased demand for lightweight products is estimated to drive the demand for high-performance adhesives. The industry is highly competitive and fragmented, with numerous global and regional players. In such a scenario, the key players include 3M, Henkel, Sika AG, and Dow, with a significant focus on R operations to expand their market shares.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Engineering Adhesive Market Application Insights
The Engineering Adhesive Market is segmented into various applications, including Aerospace and Defense, Automotive and Transportation, Electrical and Electronics, Construction and Medical and Healthcare. Aerospace and Defense accounted for the largest revenue share in 2023 and is projected to maintain its dominance throughout the forecast period. The growth in this segment can be attributed to the increasing demand for lightweight and high-strength adhesives in aircraft and defense applications. Automotive and Transportation is another major application segment, driven by the growing production of automobiles and the need for lightweight and durable adhesives in vehicle assembly.
Electrical and Electronics is also a significant application segment, with the increasing adoption of adhesives in electronic devices and components. Construction is another important application segment, where adhesives are used in various applications such as bonding, sealing and waterproofing. Medical and Healthcare is a niche but growing application segment, with the increasing use of adhesives in medical devices and implants.
Engineering Adhesive Market Cure Mechanism Insights
The Engineering Adhesive Market is segmented by Cure Mechanism into Heat-Curing, UV-Curing, Moisture-Curing and Anaerobic-Curing. Heat-curing adhesives accounted for the largest revenue share in 2023, and this trend is expected to continue during the forecast period, as they offer high strength and durability in demanding applications. UV-Curing adhesives are gaining popularity in industries such as electronics and automotive due to their rapid curing time and low energy consumption. Moisture-curing adhesives are commonly used in construction and packaging applications due to their ability to cure at room temperature and high humidity conditions.
Anaerobic-curing adhesives are known for their ability to cure in the absence of oxygen and are widely used in metalworking and engineering applications.
Engineering Adhesive Market Formulation Insights
The Engineering Adhesive Market is segmented by formulation into solvent-based, water-based, hot-melt, film and foam. Among these, the solvent-based segment held the largest market share in 2023, accounting for over 40% of the global revenue. The growth of this segment can be attributed to the high performance and versatility of solvent-based adhesives in various industrial applications, such as bonding metal, plastic and wood. Water-based adhesives are expected to witness the fastest growth during the forecast period due to their environmental friendliness and ease of application.
Hot-melt adhesives are also gaining popularity due to their fast-setting time and strong bond strength. Film and foam adhesives are used in specialized applications, such as packaging and electronics, and are expected to contribute to the overall growth of the Engineering Adhesive Market.
Engineering Adhesive Market Regional Insights
The regional market segments of the Engineering Adhesive Market are expected to grow at varying rates over the forecast period. The 'North America region is projected to account for the largest market share in 2023, owing to the presence of major manufacturing industries and advanced infrastructure in the region. The 'Europe' region is expected to follow closely, driven by strict regulations and high demand for engineered adhesives in the automotive and construction industries. The 'APAC' region is anticipated to witness significant growth, primarily driven by the rapidly expanding manufacturing sector and increasing urbanization in countries such as China and India.
The 'South America region is expected to grow at a steady pace, supported by the growing automotive and packaging industries. The 'MEA' region is projected to experience moderate growth due to the increasing demand for engineered adhesives in infrastructure development and manufacturing sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Engineering Adhesive Market Key Players And Competitive Insights:
Major players in Engineering Adhesive Market industry are constantly evolving and innovating to enhance their product offerings and gain a competitive edge. Leading Engineering Adhesive Market players are investing heavily in research and development to develop advanced adhesives that meet the specific requirements of various end-use industries. The Engineering Adhesive Market development landscape is characterized by strategic partnerships, acquisitions, and collaborations between key players to expand their market presence and strengthen their technological capabilities.
One of the leading players in the Engineering Adhesive Market is Henkel AG Co. KGaA, a German chemical and consumer goods company. Henkel offers a comprehensive portfolio of engineering adhesives, including structural adhesives, anaerobic adhesives, and cyanoacrylate adhesives. The company's strong brand recognition, extensive distribution network, and focus on innovation have contributed to its leading position in the market. Henkel is committed to sustainability and has developed eco-friendly adhesives that meet environmental regulations. The company's global presence and diverse product offerings enable it to cater to the needs of a wide range of industries, including automotive, aerospace, and electronics.
A key competitor in the Engineering Adhesive Market is 3M Company, an American multinational conglomerate. 3M offers a wide range of engineering adhesives, including epoxy adhesives, acrylic adhesives and polyurethane adhesives. The company's focus on research and development has resulted in the development of innovative adhesives with unique properties. 3M's strong distribution network and global presence enable it to reach customers in various regions. The company's commitment to customer service and technical support has earned it a loyal customer base. 3M's diverse product portfolio and focus on innovation position it as a strong competitor in the Engineering Adhesive Market.
Key Companies in the Engineering Adhesive Market Include:
- Eastman
- LOCTITE
- Loctite
- Ashland
- Dow
- Sika
- Bostik
- Trelleborg
- Weiss Chemie
- Arkema
- 3M
- Wacker Chemie
- Henkel
- Huntsman
Engineering Adhesive Market Industry Developments
The Engineering Adhesive Market is projected to reach USD 25.9 billion by 2032, growing at a CAGR of 3.53% from 2024 to 2032. The increasing demand for lightweight and durable materials in various industries, such as automotive, aerospace, and construction, is driving the growth of the market. Additionally, the rising adoption of advanced technologies, such as nanotechnology and graphene-based adhesives, is further fueling market expansion. Recent developments include the launch of new products with improved performance and sustainability, as well as strategic partnerships and acquisitions among key players to strengthen their market position. The market is expected to witness significant growth in emerging economies, such as China and India, due to the increasing industrialization and infrastructure development in these regions.
Engineering Adhesive Market Segmentation Insights
- Engineering Adhesive Market Resin Type Outlook
- Acrylic
- Epoxy
- Polyurethane
- Silicone
- Anaerobic
- Engineering Adhesive Market Application Outlook
- Aerospace and Defense
- Automotive and Transportation
- Electrical and Electronics
- Construction
- Medical and Healthcare
- Engineering Adhesive Market Cure Mechanism Outlook
- Heat-Curing
- UV-Curing
- Moisture-Curing
- Anaerobic-Curing
- Engineering Adhesive Market Formulation Outlook
- Solvent-Based
- Water-Based
- Hot-Melt
- Film
- Foam
- Engineering Adhesive Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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18.31(USD Billion)
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Market Size 2023
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18.96(USD Billion)
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Market Size 2032
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25.9(USD Billion)
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Compound Annual Growth Rate (CAGR)
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3.53% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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Eastman, LOCTITE, Loctite, Ashland, Dow, Sika, Bostik, Trelleborg, Weiss Chemie, Arkema, 3M, Wacker Chemie, Henkel, Huntsman
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Segments Covered
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Resin Type, Application, Cure Mechanism, Formulation, Regional
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Key Market Opportunities
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1.      Rising demand from the automotive and construction sectors
2.      Growing adoption in electronics and medical devices
3.      Increasing use of lightweight materials
4.      Advancements in nanoengineering adhesives
5.      Demand for eco-friendly and sustainable adhesives
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Key Market Dynamics
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1.      Rising Infrastructure
2.      Growing Automotive Sector
3.      Advancements in Technology
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Engineering Adhesive Market was anticipated to grow at a CAGR of 3.53% during the forecasted period.
The Engineering Adhesive Market is estimated to be valued at 18.96 billion USD in 2023.
The Engineering Adhesive Market is projected to reach a valuation of 25.9 billion USD by 2032.
Asia Pacific is expected to account for the largest share of the Engineering Adhesive Market by 2032.
Engineering Adhesives are primarily used in the bonding of metal, plastic, and composite substrates.
The automotive industry is the largest consumer of Engineering Adhesives.
Key competitors in the Engineering Adhesive Market include Henkel, 3M, and Sika.
Factors driving the growth of the Engineering Adhesive Market include increasing demand from the automotive and construction industries.
Challenges faced by the Engineering Adhesive Market include environmental regulations and technological advancements.
Opportunities for the Engineering Adhesive Market include the development of new applications and markets.
