INDUSTRIAL ADHESIVES MARKET ANALYSIS

Industrial Adhesives MarketSize and Trends

The global industrial adhesives market size was valued at US$ 39.44 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Growing demand for industrial adhesives from packaging industry and automotive sector is expected to drive market growth over the forecast period. Rapid industrialization in developing regions along with increasing manufacturing sector & fast economic growth is again expected to fuel market growth. Moreover, rising consumer goods, furniture, non-woven fabrics and cartons manufacturing sector are further bolstering industrial adhesives market growth.

Global Industrial Adhesives Market Trends:

Shift towards a greener technologies

A shift toward greener and sustainable technologies is projected to boost the demand for bio-based industrial adhesives in the near future. Key manufacturers are investing heavily in the research and development of eco-friendly alternatives to petrochemical-based products. Moreover, adhesives based on natural products are a fast-growing segment of the market because they offer excellent strength, durability and performance at a lower cost.

Growing trend of lightweight vehicles

Increasing trend toward lightweight vehicles is expected to fuel market growth. Several manufacturers are focusing on manufacturing vehicles with reduced weight that can reduce CO2 emissions and comply with stringent environmental standards. Industrial adhesives can help in reducing vehicle weight by eradicating the use of rivets and welds. This is a major benefit offered by industrial adhesives that is driving the demand in the automotive sector.