Reactive & Other Adhesives Global Market Report 2024

The reactive & other adhesives market size has grown strongly in recent years. It will grow from $11.58 billion in 2023 to $12.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed during the historical period can be attributed to industrial manufacturing, progress in the field of material science, developments in construction and infrastructure projects, and innovations in the electronics and microelectronics industries.

The reactive & other adhesives market size is expected to see strong growth in the next few years. It will grow to $16.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to factors such as the increasing production of electric vehicles (EVs), the growth of renewable energy technologies, the demand for customized adhesive formulations, and the expanding applications in medical devices and healthcare. Major trends expected in the forecast period include the adoption of green and sustainable adhesives, the emphasis on miniaturization and microbonding techniques, the utilization of 3D printing and additive manufacturing, and the integration of smart adhesive technologies.

The adhesive market is poised to benefit from the growth in the automobile industry in the foreseeable future. The demand for adhesives and sealants is on the rise due to the automotive sector's pursuit of lightweight vehicle production. Adhesives and sealants are increasingly being used in place of traditional methods such as welded joints, mechanical fasteners, and gaskets. This shift helps in reducing the overall weight of automobiles. As an illustration, in March 2022, data from the European Automobile Manufacturers' Association (ACEA) revealed that the sales of passenger cars in the US witnessed a 5.5% increase from 2020, reaching 11.9 million units in 2021. Moreover, over 6.3 million passenger cars were produced in US automotive facilities in 2021, marking a 3.1% increase from the previous year. Chinese automakers manufactured 20.7 million vehicles in 2021, indicating a 7.1% growth. These figures collectively contribute to the global production of 63.2 million cars in 2021, reflecting a 2.7% rise. Consequently, the expansion of the automobile sector serves as a driving force for the adhesive market, particularly in the context of recreational and other adhesives.

The primary types of reactive and other adhesives include epoxy, acrylic, silicone, polyurethane, and various other formulations. These adhesives often incorporate additives such as polyurethane, acrylic, silicone, vinyl, epoxides, and other additives to enhance their performance. These adhesives are applied in a range of industries, including building and construction, automotive and transportation, power generation, electrical and electronics, as well as various other sectors.

The reactive and other adhesives market research report is one of a series of new reports that provides reactive & other adhesives market statistics, including global market size, regional shares, competitors with a reactive & other adhesives market share, detailed reactive & other adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the reactive & other adhesives industry. This reactive and other adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growing E-commerce sector is expected to be a driving force for the recreational and other adhesives market. E-commerce encompasses the buying and selling of products and services through digital platforms and the internet. It opens up opportunities for businesses in the recreational and adhesive product sectors to reach a wider global audience, subsequently increasing sales and business expansion. For example, as of August 2023, data from the United States Census Bureau indicated a 7.5% increase in e-commerce during the second quarter of 2023 compared to the same period in 2022. In contrast, overall retail sales saw a 0.6% growth during the same time frame. Notably, 15.4% of all sales in the second quarter of 2023 occurred through online stores. Therefore, the growth of E-commerce is a significant driver for the expansion of the recreational and other adhesives market.

The stringent safety regulations associated with the manufacturing and transportation of adhesive chemicals have posed a substantial constraint on the market. These chemicals are flammable, toxic, and potentially hazardous under extreme conditions of temperature and pressure. Compliance with these regulations has driven up operational costs for companies in the industry. Consequently, this limits their capacity to invest in the development of new products and expansion into new markets, ultimately impacting market growth.

Numerous adhesive companies are adopting Internet of Things (IoT) technologies to connect equipment and smart devices, allowing real-time insights to identify inefficiencies in the manufacturing process. The data collected is processed, analyzed, and interpreted by plant managers and senior management to enhance quality and optimize production. As an illustration, smart systems provide information on the operational status and performance of chemical reactors through embedded software and analytical tools. This early notification system helps plant operators and managers anticipate potential machine breakdowns. Key players in this adoption of IoT technology include BASF SE, The Dow Chemical Company, and H.B. Fuller.

Major companies in the recreational and other adhesives market are actively seeking partnerships. These strategic partnerships involve formalized agreements between commercial enterprises, and they are aimed at advancing their respective business objectives. For instance, in January 2021, Scott Bader Co., a UK-based chemical company, established a partnership with Pultex GmbH to distribute structural adhesives, namely Crestabond and Crestomer, for use in composite applications in Germany. This collaboration has enabled Scott Bader to expand the reach of their structural adhesives in the German market, particularly within the industrial composites industry.

In September 2023, H.B. Fuller Company, a US-based adhesive manufacturer, completed the acquisition of Sanglier Ltd for an undisclosed sum. This strategic move has broadened H.B. Fuller's product portfolio and innovation capabilities across the UK and Europe, with a specific focus on the construction and engineering adhesives markets. The acquisition of Sanglier Ltd has also enhanced H.B. Fuller's production capacity, thus enabling them to better serve their customers in the UK and Europe. Sanglier Ltd is a UK-based adhesive manufacturing company.

Major companies operating in the reactive & other adhesives market include BASF SE, 3M Company, Adco Global Inc., Adhesives Research Inc., American Biltrite Inc., Avery Dennison Corporation, Chemence Inc., Collano Adhesives AG, Dow Chemical Company, H.B. Fuller Company, Huntsman Corporation, Illinois Tool Works Inc., Jowat SE, KMS Adhesives Limited, Arkema SA, Henkel AG & Co. KGaA, Pidilite Industries Limited, Sika AG, Ashland Inc., DELO Industrie Klebstoffe GmbH & Co. KGaA, Master Bond Inc., Franklin International Inc., Hexion Inc., LORD Corporation, Dymax Corporation, RPM International Inc., Royal Adhesives & Sealants LLC, Scott Bader Company Ltd., Soudal NV, Toyo Ink SC Holdings Co. Ltd., Wacker Chemie AG, Bostik SA, Dynea AS, EMS-Chemie Holding AG, Evonik Industries AG, Hernon Manufacturing Inc., ITW Performance Polymers & Fluids, JX Nippon ANCI Inc., L&L Products Inc.

Asia-Pacific was the largest region in the reactive and other adhesives market in 2023. North America was the second-largest region in the global reactive & other adhesives market. The regions covered in the reactive & other adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the reactive & other adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The reactive and other adhesives market consists of the sales of anaerobic, and cyanoacrylates reactive and other adhesives in various forms such as liquids, pastes, tapes, films, and powders. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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