Liquid Adhesives Market to Reach $56.7 billion, Globally, by 2033 at 4% CAGR: Allied Market Research

The global liquid adhesives market is driven by rise in industrial growth. One of the primary drivers of the liquid adhesives market is industrial growth. As industries expand, there is a proportional increase in the demand for bonding materials. Liquid adhesives find extensive applications across diverse sectors, including automotive, aerospace, construction, electronics, packaging, healthcare, and consumer goods. Expansion of manufacturing activities in these industries drives the consumption of adhesives for bonding various substrates such as metals, plastics, composites, and ceramics.

WILMINGTON, Del., May 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Liquid Adhesives Market by Formulation (Water-based, Solvent-based, and Others), Substrate (Paper, Plastic, Glass, Wood, and Others), and End-User Industry (Automotive and Transportation, Building and Construction, Electronics, Packaging, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2033". According to the report, the "Liquid Adhesives Market" was valued at $38.3 billion in 2023, and is estimated to reach $56.7 billion by 2033, growing at a CAGR of 4% from 2023 to 2033.

Prime determinants of growth

The global liquid adhesives market is driven by rapid technological advancements. Technological advancements play a pivotal role in driving innovation in the liquid adhesives market. Manufacturers continuously invest in R&D to enhance the performance characteristics of adhesives, including bonding strength, flexibility, durability, curing time, and environmental sustainability.

For instance, the development of hybrid and reactive adhesives that combine the advantages of different chemistries, such as cyanoacrylate and epoxy, polyurethane, has led to superior bonding solutions suitable for diverse applications. Also, advancements in nanotechnology have enabled the formulation of adhesives with enhanced properties such as improved adhesion on difficult-to-bond substrates, resistance to extreme temperatures and chemicals, and reduced curing times.

Furthermore, the growing emphasis on sustainability and environmental regulations has spurred the development of eco-friendly adhesives with low or zero volatile organic compound (VOC) emissions and reduced environmental impact. Water-based adhesives, solvent-free formulations, and bio-based alternatives are gaining traction as environmentally responsible bonding solutions. However, environmental and health issues associated with the use of liquid adhesives may restrain the growth of the liquid adhesives market.

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Report coverage & details:

The shaped segment to maintain its lead position during the forecast period.

By formulation, the water-based segment accounted for the largest market share in 2023, contributing to nearly half of the global liquid adhesives market revenue. Water-based adhesives are considered environmentally friendly as compared to solvent-based alternatives as they have lower volatile organic compound (VOC) emissions, reduced toxicity, and a smaller environmental footprint. Furthermore, rise in environmental awareness and stringent regulations aimed at reducing air pollution and promoting sustainable manufacturing practices have led to the adoption of water-based adhesives across various industries.

The paper segment to maintain its lead position during the forecast period.

By substrate, the paper segment accounted for the largest share in 2023, contributing to more than one fifth of the global liquid adhesives market revenue. Liquid adhesives offer versatility in bonding various substrates, including paper, cardboard, wood, fabric, plastics, and metals. Paper, being a common material used in packaging, printing, crafts, and office supplies, benefits from the adhesive's ability to bond effectively to its surface. Furthermore, liquid adhesives are typically easy to apply on paper surfaces using applicators such as brushes, rollers, or nozzles. This ease of application enables precise control over the adhesive application, facilitating clean and efficient bonding.

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The medical segment to maintain its lead position during the forecast period.

By end-user industry, the medical segment accounted for the largest share in 2023, contributing to nearly one-third of the global liquid adhesives market revenue. Liquid adhesives play a crucial role in wound closure and surgical procedures, offering alternatives to traditional sutures, staples, and tapes. Moreover, surgical adhesives provide rapid and secure wound closure, minimizing tissue trauma, reducing the risk of infection, and promoting faster healing. Furthermore, the development of biocompatible and bioresorbable liquid adhesives tailored for medical applications has expanded the use of adhesives in surgical specialties such as orthopedics, cardiovascular surgery, neurosurgery, and plastic surgery.

Asia-Pacific to maintain its dominance by 2032.

Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than two-fifth of the global liquid adhesives market and is projected to register the highest CAGR of 4.6% during the forecast period. The Asia-Pacific region is experiencing robust industrial growth, driven by factors such as rise in population, expanding middle class, increase in consumer demand, and favorable government policies. Furthermore, growing manufacturing sectors, including automotive, electronics, packaging, construction, textiles, and consumer goods, drive the demand for liquid adhesives used in assembly, bonding, packaging, and product finishing applications.

In addition, rapid urbanization and infrastructure development in countries such as China, India, Indonesia, Vietnam, and the Philippines fuel the demand for liquid adhesives in construction and building materials. Liquid adhesives are used in various construction applications, including flooring installation, tile fixing, wall paneling, insulation, waterproofing, and structural bonding, contributing to the growth of the liquid adhesive market in the Asia-Pacific region.

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Leading Market Players: -

• 3M Company
• Avery Dennison Corporation
• Beardow Adams
• Bostik SA
• DIC Corporation,
• Dow Inc.,
• H.B. Fuller Company,
• Henkel AG & Co. KGaA
• Huntsman Corporation
• Pidilite Industries Ltd

The report provides a detailed analysis of these key players in the global liquid adhesives market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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