Adhesives Market Trends

Growth Indicators

Rapidly Increasing Demand for Adhesives in Various End-Use Sectors

Rising demand for the different adhesives used in a diverse range of end-use industries is a key factor anticipated to propel the market growth during the forecast period. Adhesives are used in the packaging of various goods and materials and thus facilitate a reliable packaging process. Corrugated cardboard boxes, clear folding boxes, sacks & bags, and cartons are among the few adhesives' packaging applications. As per the International Life Sciences Institute statistics, almost 80% of packaged food contains some form of adhesive. Adhesives composed of polyurethane and acrylic resin are widely used in food packaging applications because of their high flexibility and bonding strength. Furthermore, adhesives based on natural polymers such as casein, starch, and dextrin are also becoming increasingly popular. Furthermore, adhesives find applications in the bonding of wooden laths, bonding of facade elements, flooring underlayment, plaster or insulation boards, and other crucial construction components, which provide structural reinforcement to the buildings.

Growing Material Based and Technological Advancements

The application of adhesives for structural, semi-structural, and non-structural applications has increased significantly over the past few years owing to the advantage which adhesives offer over the conventional assembly processes. The increasing intricacy of modern assembly structures in tandem with the numerous materials used for joining applications has led to the development of advanced structural adhesives. Additionally, continuous research and development in the field of product chemistry has also led to the increased adoption of innovative adhesive materials which is anticipated to drive the growth of the global adhesives market.

Challenges

High Cost of Raw Materials and Stringent Environmental Regulations

Strict environmental regulations owing to the presence of harmful chemicals and VOC emissions from the adhesives are among the critical limiting factors expected to restrain the market growth throughout the forecast period. Also, several raw materials used in the production of adhesives are sourced from crude oil and its derivatives. Thus, price volatility among the raw materials is another crucial factor anticipated to hamper the market growth in terms of raw material procurement.