The report “High-performance Adhesives Market by Type (Epoxy, Polyurethane, Acrylic, Silicone), End-use Industry (Transportation, Packaging, Electronics, Construction, Medical), Technology (Solvent-based, Water-based, Hot-melt) and Region – Global Forecast to 2022”, The high-performance adhesives market is projected to grow from USD 9.77 Billion in 2017 to USD 13.17 Billion by 2022, at a CAGR of 6.15% between 2017 and 2022.
Technological Advancements Fuel Demand
- Technological advancements are expected to fuel the demand for high-performance adhesives in mature markets such as North America and Europe.
- Properties such as less cure time, increased temperature resistance, better adhesion to a variety of substrates, improved resistance to chemicals and various other innovations in high-performance adhesive products are expected to drive the growth of the market in the near future.
- The high-performance adhesives market is shifting from traditional solvent-based adhesives to high-performance products such as reactive and hot-melt high-performance adhesives, driven by the requirement of superior performance from various end-use industries.
Transportation Projected to Lead
- Transportation was the largest application segment of the high-performance adhesives market in 2016. High-performance adhesives are used extensively in the transportation end-use industry as they can easily bond dissimilar substrates to improve performance and develop lightweight designs using multi-materials.
- There is an increasing focus on developing lightweight components to reduce emissions, increase efficiency, and improve aesthetic appeal.
- The automotive, marine, and aerospace sectors are considered in the transportation end-use industry. Other end-use industries of high-performance adhesives include the construction, consumer, and medical industries, among others.
Solvent-based Adhesives – Largest Formulation Technology
The solvent-based adhesives segment was the largest formulation technology segment of the high-performance adhesives market in 2016, in terms of both value and volume. Solvent-based is the most broadly-used technology in the formulation of adhesives as these adhesives possess unique characteristics, such as temperature, humidity, and discoloration resistance.
Asia Pacific is expected to be the largest high-performance adhesives market during the forecast period. The increasing population, along with the high demand from the transportation and medical end-use industries, is expected to fuel the growth of the Asia-Pacific high-performance adhesives market. Countries such as China, Japan, and India are expected to be the major markets for high-performance adhesives in Asia Pacific, with China estimated to be the largest market in terms of consumption.
Key companies operational in the market include Henkel (Germany), 3M (U.S.), Bostik (France), H.B. Fuller (U.S.), Illinois Tool Works (U.S.), Avery Dennison (U.S.), Sika (Switzerland), and Pidilite Industries (India).