Global Two Part Adhesive Market, By Type (Silicone Adhesives, Polyurethane Adhesives, UV Curable Cyanoacrylate Adhesives, UV Resin Type (Polyurethane, Epoxy, MMA, Silicone, Others), Application (Automotive, Construction, Electronics, Aerospace and Others) – Industry Trends and Forecast to 2029.
Two Part Adhesive Market Analysis and Size
The global two part adhesives market is mainly driven by the rising adoption of green, sustainable and non-hazardous adhesives. Growing use of two-part adhesives to replace the traditional adhering and binding methods such as clasping, mechanical screwing and welding in the end-user industries are expected to boost the growth of two-part adhesives market. The “epoxy” is the highest growing type segment of the market due to high temperature and chemical resistance, low shrinkage, reduced odour, and tack-free surfaces properties during the forecast period. Also, increasing demand of two part adhesives bonding in various plastics, composites, and many lightweight materials in the construction, automotive, and aviation industries will drive the market in the forecast period.
Data Bridge Market Research analyses that the two part adhesive market is expected to undergo a CAGR of 6.55% during the forecast period. This indicates that the market value, which was USD 6.64 billion in 2021, would rocket up to USD 11.03 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Two Part Adhesive Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Resin Type (Polyurethane, Epoxy, MMA, Silicone, Others), Application (Automotive, Construction, Electronics, Aerospace and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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DuPont (U.S.), SOLVAY (Belgium), Dow (U.S.), Henkel AG & Co. KgaA (Germany), 3M (U.S.), Bostik (France), Sika AG (Switzerland), H.B. Fuller (U.S.), BASF SE (Germany), DAP Global Inc.(U.S.), Owens Corning (U.S.), The Chemours Company (U.S.), Paroc Group (Finland), Kingspan Group (Ireland), DAIKIN (Japan), GAF (U.S.), SOLVAY (Belgium), Saint-Gobain (France), Franklin International (U.S.), Illinois Tool Works Inc. (U.S.), AVERY DENNISON CORPORATION (U.S.) Three Bond Holdings Co., Ltd. (Japan), Dymax (U.S.), Ashland (U.S.), Shell (U.K.)
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Market Opportunities
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Market Definition
Two part adhesives are generally polyurethanes, epoxies or reactive acrylic. Two part adhesives have unique properties such as they can fill large gaps and they cure very quickly at room temperature. This adhesive makes production processes cost-effective and lot easier Bonding with two part adhesives can also improve the component performance and appearance.
Two Part Adhesive Market Dynamics
Drivers
- Growing demand from several end user industries
Two part adhesive is used in several end user industries such automotive, construction, electronics, aerospace and others. The demand of these adhesive increase due to their excellent quality. This is the major factor which is expected to drive the growth rate of the two part adhesives market.
- Rising demand in automotive sector
Two part adhesives are very effective in thermally conductive and creating insulating junctions, making them perfect for use in the automotive industry. The increase in demand for battery vehicles, passenger vehicles, commercial vehicles, and electric automobiles are expected to drive the growth rate of the two part adhesives market.
- Increase in demand due to the unique properties of two part adhesives
The demand for two part adhesive increases due to their unique properties such as rigidity, chemical inertness, non-yellowing, moisture resistance and others in the procedure of binding numerous components expected to drive the growth rate of the two part adhesives market.
Opportunities
- Increase in investments by market players
The surging investments by major market players further offer numerous growth opportunities within the market. For instance, DuPont Mobility & Materials, a leading manufacturing company, has announced an investment of $5 million at its manufacturing facilities in Germany and Switzerland to increase the capacity of its high-performance automotive adhesives.
- Growing demand for sustainable, green and low VOC adhesives
Environmental regulations, specifications and limitations are becoming increasingly prevalent. Volatile organic compounds (VOC) have been derived from different sources, mainly found in any indoor environment. Hence the demand for the sustainable and green adhesives is continuously increasing and encourages new ways for manufacturing sustainable adhesives which helps to reduce VOCs. Biodegradable adhesives such as two part adhesives, are mainly designed for breaking down micro-organisms and bacteria. Also, two part green adhesives are mainly used for grooming products, envelopes, paper and packaging and medical devices as well which will create immense opportunities for the growth of two part adhesives market.
Restraints/Challenges
- High cost of raw materials
The demand for the two part adhesives may be restrained by increasing raw materials prices. They are more expensive than other traditional adhesive, which is restraining the demand from the consumer’s perspective.
This two part adhesive market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the two part adhesive market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Two Part Adhesive Market
The outbreak of COVID-19 pandemic has adversely adverse affected the growth of the several industries including two part adhesives worldwide. It also posed unprecedented challenges on the sales, demand and production of two part adhesives considering the delayed activities across the electronics, automotive and many other sectors. This is on account of the advent of unfavourable situations, including the scarcity of labour and raw materials caused by the imposition of the social distancing and lockdown norms.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In November 2021. Pidilite Lanka Pvt Limited, a subsidiary of Pidilite Industries Ltd and a recognised manufacturer of construction chemicals, adhesives and sealants, has introduced an epoxy glue line Araldite in the Sri Lankan market. Araldite epoxy adhesives are the ideal choice for an extensive range of applications and industries.
- In October 2021, Scott Bader, a well-known chemical company, purchased a manufacturing facility in Texas to meet the rising global and local demand for composite adhesives and gelcoats.
Global Two Part Adhesive Market Scope
The two part adhesive market is segmented on the basis of resin type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Resin Type
Application
- Automotive
- Construction
- Electronics
- Aerospace
- Others
Two Part Adhesive Market Regional Analysis/Insights
The two part adhesive market is analysed and market size insights and trends are provided by country, resin type and application as referenced above.
The countries covered in the two part adhesive market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the two part adhesive market during the forecast period due to increasing production of vehicles in the last 2–3 years and an increase in emerging markets, namely China, Brazil and India.
North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the growing end use industries such as electronics, transportation, and medical in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Two Part Adhesive Market Share Analysis
The two part adhesive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to two part adhesive market.
Some of the major players operating in the two part adhesive market are:
- DuPont (U.S.)
- SOLVAY (Belgium)
- Dow (U.S.)
- Henkel AG & Co. KgaA (Germany)
- 3M (U.S.)
- Bostik (France)
- Sika AG (Switzerland)
- H.B. Fuller (U.S.)
- BASF SE (Germany)
- DAP Global Inc.(U.S.)
- Owens Corning (U.S.)
- The Chemours Company (U.S.)
- Paroc Group (Finland)
- Kingspan Group (Ireland)
- DAIKIN (Japan)
- GAF (U.S.)
- SOLVAY (Belgium)
- Saint-Gobain (France)
- Franklin International (U.S.)
- Illinois Tool Works Inc. (U.S.)
- AVERY DENNISON CORPORATION (U.S.)
- Three Bond Holdings Co., Ltd. (Japan)
- Dymax (U.S.)
- Ashland (U.S.)
- Shell (U.K.)
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