Engineering Adhesives Market

The Engineering Adhesives Market is valued at USD 22.2 Bn in 2026 and is projected to reach USD 34.5 Bn,  growing at a CAGR of 7% by 2033.

Sustained Preference over Conventional Fasteners Strenghtens Engineering Adhesives Market

The major key factors fueling the growth of the engineering adhesives market is the rise in demand for engineering adhesive products, particularly in developing regions. Due to their widespread use in transportation, construction, and other industries, as well as their high demand for increasing the quality and dependability of machinery and equipment, bonding products are replacing conventional fasteners and driving the expansion of engineering adhesives market. The rise is also influencing the engineering adhesives market in popularity of the goods because of their characteristics, including stiff bonding, high strength, and high viscosity, as well as their use to increase dynamic and static strength and lessen corrosion issues during assembly. Engineering adhesives stick to wet substrates with adhesion promoters, protecting concrete and steel maritime infrastructure, such as coating water tanks, outfall structures, fish ladders, and dams. Engineering adhesives are well-suited for shipbuilding, maintenance, and repair in the marine sector.

The market for engineering adhesives will also be driven by the government's rising spending on maritime sector initiatives. For instance, the Indian Brand Equity Foundation reports that the Ministry of Ports, Shipping, and Waterways nominated 400 projects totaling Rs. 2.25 lakh crore (US$31 Bn) in investment for the Maritime India Summit 2021. Additionally, the market for engineering adhesives is positively impacted by the development of polyurethane adhesive products, the growth of numerous end-use sectors, rising urbanization, and increased government financing and investment. The structural bonding gives lucrative prospects to the market participants in the predicted year.

Engineering Adhesives Market: COVID-19 Impact

The engineering adhesives market was significantly impacted by the COVID-19 outbreak in 2020. Due to the nationwide standstill, fewer goods were produced in the end-use sector since manufacturing facilities were not operating. During the COVID-19 outbreak, there has also been a stop in the domestic sales and export of several raw materials. Engineering adhesives are used in a variety of sectors, and this has had an impact on the economies of each industry. For instance, as per Eurostat, in April 2021, construction output fell by 1.6% across the EU compared to March 2021; it fell by 2.2% in the euro region. Additionally, following an exceptional decrease in March and April (-25.4%), construction in the EU region had a rapid rebound in May 2020 (21.6%) but has since stagnated. Thus, the engineering adhesives market is anticipated to increase in the following years after the building and construction and transportation operations get back on track and begin operating at full capacity.

Increasing Demand in Transportation Industry to Drive Engineering Adhesives Market Growth

In the transportation sector, engineering adhesives offer many benefits in avoiding rust and corrosion on vehicle body parts. In addition, it is utilized to assemble adhesive items and automotive parts in place of fasteners. It entails painting a primer on anti-corrosive metal components with a thin epoxy-based coating. Engineering adhesive bonding also minimizes the number of steps needed in the manufacturing process, which lowers the cost. The growth of the business has been boosted in recent years by the increase in vehicle production. For instance, the Organization Internationale des Constructeurs d'Automobiles (OICA) in Austria reports that in 2019, the output of motor vehicles increased from 1,79,400 units to 1,64,900 units. Similarly, in Vietnam, the number of motor cars produced rose from 2,37,000 in 2018 to 2,50,000 in 2019. Demand for engineering adhesives in the transportation sector will increase in the next years, eventually slowing down the expansion of engineering adhesives market. This is due to rising vehicle production and government investments in maritime industry projects.

Rising Demand for Bio-based Adhesives to Drive Engineering Adhesives Market

Volatile organic compound (VOC) emissions in adhesives have raised questions due to environmental consciousness. The usage of solvent-borne adhesives is being restricted to reduce the environmental impact by regulatory agencies, including the Environmental Protection Agency (EPA) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals). Manufacturers are progressively investing in production and product development programs as the industry has changed its focus to creating bio-based adhesives based on organic starch, vegetable oils, water, and soy. For instance, Toyochem Co., Ltd. created a new line of biodegradable pressure-sensitive adhesives in 2020. (PSAs). The recently created product is appropriate for materials used in construction, agriculture, packaging, and other sectors where biodegradable or recoverable materials are sought. The engineering adhesives market is thus anticipated to increase due to the rising demand for bio-based adhesives.

Difficult Application Process of Engineering Adhesive Coatings Remains a Challnge for Engineering Adhesives Market in Long Term

Engineering adhesives like epoxy have a challenging application process, which is a big drawback. Engineering adhesives can't be used on polluted, unprepared, or damaged surfaces. For the coating to last long, the surface must be free of grease, oils, or solvents. It is frequently necessary to repair damaged surfaces, which raises the overall cost. Additionally, concrete must be ground to profile the surface, and it takes roughly seven days for the coatings to cure. Thus, the development of the engineering adhesives market would be constrained in the next years due to the difficulty of the application process.

Epoxy Dominant Categoiry in Engineering Adhesives Market Owing to Superior Bonding Strength

Based on product, the engineering adhesives market is segmented into epoxy, polyurethanes, cyanoacrylate and methacrylates. The epoxy category dominated the market over the forecast period. Epoxy is the main kind of engineering adhesive utilized in things like metal, glass, and plastic. Epoxy resin can be forged and flexible, very optically clear, and have a quick or slow setting. Additionally, it has a strong bonding strength. Epoxy resin has greater heat and chemical resistance qualities when compared to other adhesives. In general, epoxy resin that has been heated during the curing process is more heat- and chemical-resistant than other typical adhesives that have been heated at ambient temperature. It's also known that some epoxies can be treated by UV light. Compared to polyurethane, these coatings offer extraordinary resilience to heat, corrosive chemicals, and UV radiation. Hence industrial finishers frequently choose them as epoxy surface coatings. As a result, the expansion of engineering adhesives market in the forecast period will be driven by rising demand for epoxy over other technical adhesive types due to its attractive qualities.

Construction Industry Remains the Key Applocation Area in Engineering Adhesives Market

Based on application, the engineering adhesives market is segmented into transportation, construction, electrical and electronics, energy and others. The construction category held the largest market share in 2021 and is anticipated to increase significantly over the next several years. Engineering adhesives are used widely in the construction sector, such as glass, agricultural machinery, ceramics, medical equipment, furniture, rolling stock, building materials, containers, packaging, passive electronics and equipment, optical equipment, and many other things. The need for engineering adhesives is expected to increase in the next years due to the expansion of construction activities. Building and construction activity is growing quickly in expanding economies like India, the US, China, and other nations. For instance, the building and construction sector reached around US$11.9 Tn in 2020, up nearly 4.2% from 2019, according to the World Bank. Thus, during the projection period, the market for engineering adhesives will expand in tandem with the expansion of the construction industry.

Asia Pacific’s Primacy Intact in Engineering Adhesives Market, Attributing to Thriving Transportation and Construction Industries

Over the forecast period, it is anticipated that the Asia Pacific market will account for the largest revenue share because engineering adhesives are becoming more and more necessary in growing nations like China, Japan, India, and South Korea. Throughout the forecast period, China is anticipated to maintain its leadership in the engineering adhesives market. This is a result of the nation's expanding transportation and construction sectors. For instance, the International Trade Administration estimates that China's construction industry will generate US$1.1 Tn in sales in 2021, up from US$968 Bn in 2019. In addition, it is anticipated that the markets for engineering adhesives in Taiwan and India will expand during the forecast period due to increased government spending on building, transportation, and other end-use industries. As a result, the market expansion will be fueled by the increased use of engineering adhesives across various end-use industries throughout the forecast period.

The European engineering adhesives market is anticipated to experience stable revenue growth throughout the forecast period. The region's market is anticipated to be driven by production in the transportation industry, particularly the automotive, aerospace, and marine sectors. According to the Aerospace & Defense Industries Association, the aerospace and defense industries in Europe generates over US$247 Bn in revenue annually. There is substantial demand for adhesive materials in this industry for the bonding of composites, metals, and plastics. On the other hand, end users in the aerospace industry are demanding lightweight interior and exterior parts for things like engines, overhead lockers, wing spars, door moldings, and a variety of other things. Engineering adhesives used in this region's aircraft industry will increase due to the demand for strong yet secure adhesives.

Global Engineering Adhesives Market: Competitive Landscape

In August 2021, Arkema announced the signing of an agreement to acquire Ashland's performance adhesives business. The offer had an enterprise value of US$1.65 Bn. Similarly, in March 2021, Sika purchased DriTac's flooring adhesives business. DriTac is a floor-covering adhesives company established in the United States that specializes in wood floor bonding. Sika will be able to extend its footprint among floor covering installers and distributors, as well as accelerate its growth in the interior finishing sector in the United States, as a result of the acquisition.

A few players in the engineering adhesives market include 

• Henkel AG & Co. KGaA
• 3M Company
• B. Fuller Company
• Sika AG
• Momentive Performance Materials Inc.
• Dow Inc.
• Arkema S.A. (Bostik)
• Evonik Industries AG
• LOCTITE (Henkel brand)
• Illinois Tool Works Inc. (ITW)
• Adhesive Technologies (Huntsman Corporation)
• PPG Industries, Inc.
• BASF SE
• Soudal N.V.
• Wacker Chemie AG

Global Engineering Adhesives Market Segmentation is Described Below:

Product

• Epoxies
• Polyurethanes
• Cyanoacrylates
• Methacrylates
• Others

Application

• Transportation
• Construction
• Electrical & Electronics
• Energy
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa