Two-Part Adhesive Market

Global Two-Part Adhesive Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Type (Polyurethane, Epoxy, MMA, Silicone, and Others), By Application (Automotive, Construction, Electronics, Aerospace, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

Chemical & Material | February 2024 | Report ID: EMR00635 | Pages: 250

The global two-part adhesive market was valued at USD 7.57 billion in 2023 and is estimated to reach approximately USD 13.68 billion by 2032, at a CAGR of 6.8% from 2024 to 2032.

Due to its excellent bonding qualities and adaptability to a variety of industries, the two-part adhesive market is expanding rapidly. This cutting-edge adhesive solution combines two ingredients to form a robust, long-lasting bond that is perfect for uses where great strength and resistance are required. Two-part adhesives are becoming more and more used in industries including aerospace, construction, and automotive for jobs involving structural bonding, assembly, and repair. This market debut offers improved efficiency, durability, and performance across a wide range of applications, establishing itself as a cornerstone in contemporary adhesive technology. It can connect a variety of substrates, including metals, plastics, and composites.

 

 

TWO-PART MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

7.57 billion

Projected Market Value (2032)

13.68 billion

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Application, & Region

Segments Covered

By Type, By Application, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Two-Part Adhesive Dynamics

The dynamics of the two-part adhesive market are defined by ongoing innovation, which is fueled by demand from a variety of sectors looking for effective bonding solutions. Market trends are being shaped by elements like developments in adhesive technology, the increased emphasis on lightweight materials in the automotive and aerospace sectors, and the expanding use of eco-friendly formulations. Furthermore, strict laws pertaining to dangerous materials and volatile organic compounds are impacting market strategy and product development. Furthermore, the need for two-part adhesives with quick curing periods and strong bonding is being fueled by the increasing automation of industrial processes. In general, the market is dynamic, adapting to changing industrial demands and legal specifications.

 

Global Two-Part Adhesive Drivers

  • Material Innovations and Advancements

In the two-part adhesive market, material breakthroughs and developments play a major role in driving the industry forward through constant adhesive formulation optimization and improvement. Technological advances in polymers, resins, and compounds have improved the strength, flexibility, and durability of adhesives. Technological advancements in nanotechnology and bio-based materials present viable substitutes, responding to the increasing need for environmentally acceptable solutions. These developments not only satisfy the changing demands of end-user sectors, but they also help adhesive producers stand out from the competition.

  • Demand from End-Use Industries

The two-part adhesive market is primarily driven by end-use industries, which generate demand through a variety of applications in industries like automotive, construction, electronics, and healthcare. The need for specialized bonding solutions is increasing as these industries develop due to trends including lightweighting, downsizing, and strict performance requirements. This need drives investment and innovation in adhesive technology, encouraging manufacturers and end users to work together to create customized solutions that meet particular needs and constraints in the sector.

 

Restraints:

  • High Cost and Complexity of Application

Two-part adhesives typically have greater beginning costs than single-component adhesives because they require exact mixing ratios, specialized tools, and manpower that is knowledgeable in this area. The intricacy of application procedures might also result in longer manufacturing times and possible mistakes, which lowers overall effectiveness and efficiency. Some users might be discouraged from using two-part adhesives because of these concerns, especially in high-volume or cost-sensitive applications.

  • Environmental and Regulatory Constraints

Manufacturers must comply with strict laws pertaining to hazardous materials, waste management, and volatile organic compounds (VOCs). Adhesive product reformulation and investments in environmentally friendly manufacturing techniques are frequently required to meet these regulations, which can raise production costs. Furthermore, health and safety worries, together with the possible legal ramifications of non-adherence, limit market expansion by impacting consumer choices and restricting the application of specific adhesive compositions.

 

Opportunities:

  • Technological Innovations and Product Development

Continuous developments in adhesive technology, including new compositions, curing processes, and application techniques, allow producers to produce goods with better performance attributes. This promotes uniqueness and competitive advantages by meeting a range of end-user demands in sectors such as electronics, automotive, and aerospace. Sustainable innovations also open up new markets and improve company reputation. Examples of these innovations include bio-based materials and energy-efficient curing procedures.

  • Advancements in End-User Industries

A growing need for specialized bonding solutions stems from changing needs in industries like automotive, aerospace, electronics, and healthcare. This gives adhesive producers the chance to design customized goods that satisfy particular market demands, like biocompatibility, miniaturization, and lightweighting. Manufacturers may take advantage of market opportunities, encourage innovation, and build solid, long-lasting partnerships within important industries by matching these trends and working closely with end users.

 

Segment Overview

  • By Type

Based on type, the global two-part adhesive market is divided into polyurethane, epoxy, MMA, silicone, and others. The polyurethane category dominates the market with the largest revenue share in 2023. Polyurethane adhesives are widely utilized in the automotive, construction, and transportation industries because of their excellent bonding power and flexibility. They are ideal for demanding applications because of their superior resistance to chemicals, moisture, and temperature fluctuations.
Epoxy adhesives are well known for their remarkable robustness, resilience, and ability to withstand a variety of environmental conditions. MMA adhesives offer outstanding impact resistance, quick cure times, and strong bonds.

  • By Application

Based on the application, the global two-part adhesive market is categorized into automotive, construction, electronics, aerospace, and others. The automotive category leads the global two-part adhesive market with the largest revenue share in 2023. Two-part adhesives are widely used in the automotive industry to join different parts, including glass, interior trim, body panels, and structural components. These adhesives support lightweighting initiatives and enhance the longevity and safety of vehicles by offering high-strength bonding, vibration resistance, and corrosion protection. In the construction industry, two-part adhesives are essential for joining materials such as composites, metals, polymers, and concrete. Two-part adhesives are used in the electronics industry to seal electronic assemblies, encapsulate electronic devices, and bond components.

 

Global Two-Part Adhesive Overview by Region

The global two-part adhesive market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. Strong demand for adhesive goods in the automotive, construction, and electronics sectors has been fueled by the rapid industrialization, urbanization, and infrastructure development occurring in countries such as China, India, and Southeast Asian nations. In addition, market expansion has been supported by a sizable manufacturing base, supportive government regulations, and investments in technology improvements. The Asia-Pacific region dominates the global two-part adhesive market in part because to its growing consumer electronics consumption, surging construction activity, and expanding automobile production.

Throughout the forecast period, North America is anticipated to post a significant CAGR. Numerous variables, including the region's robust presence of important end-use industries like electronics, aircraft, and automobiles, can be linked to this estimate. High-performance adhesive solutions are also becoming more innovative and widely used as a result of rising R&D expenditures and technical developments. Moreover, the projected growth trajectory of the North American two-part adhesive market throughout the forecast period is influenced by the growing need for lightweight materials, environmental initiatives, and strict regulatory regulations.

 

 

Global Two-Part Adhesive Competitive Landscape

In the global two-part adhesive market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global two-part adhesive market include,

  • DuPont
  • SOLVAY
  • Dow
  • Henkel AG & Co. KgaA
  • 3M
  • Bostik,
  • Sika AG
  • H.B. Fuller
  • BASF SE
  • DAP Global Inc
  • Owens Corning
  • The Chemours Company
  • Paroc Group
  • Kingspan Group
  • DAIKIN, and various others.

 

Global Two-Part Adhesive Recent Developments

  • In August 2023, H.B. Fuller acquires an adhesive firm to broaden its global reach. The acquisition of Beardow Adams, an adhesive company located in the United Kingdom, was announced by H.B. Fuller, a US-based adhesive expert.
  • In November 2021, An epoxy glue line called Araldite has been introduced to the Sri Lankan market by Pidilite Lanka Pvt Limited, a subsidiary of Pidilite Industries Ltd., a well-known maker of building chemicals, adhesives, and sealants. Epoxide adhesives like Araldite are the best option for a wide variety of uses and sectors.

 

Scope of the Global Two-Part Adhesive Report

Two-Part Adhesive Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Polyurethane
  • Epoxy
  • MMA
  • Silicone
  • Others

By Application

  • Automotive
  • Construction
  • Electronics
  • Aerospace
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Two Part Adhesive Market Size and Forecast: To identify and estimate the market size for the global two part adhesive market segmented by type, by aapplication, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of two part adhesive between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global two part adhesive market
  • Market Influencing Factors: To find out the factors which are affecting the sales of two part adhesive among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global two part adhesive market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

 

Intended Audience

  • Manufacturers and Suppliers
  • End-Use Industries
  • Investors and Financial Analysts
  • Regulatory Authorities

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, the two part adhesive market is classified into North America, Europe, Asia Pacific, and the Rest of the world
According to two part adhesive market research, the market is expected to grow at a CAGR of ~6.8% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032
Asia-Pacific held the largest share in 2023.
The major players operating in the global market include DuPont, SOLVAY, Dow, Henkel AG & Co. KgaA, 3M, Bostik, Sika AG, H.B. Fuller, BASF SE, DAP Global Inc, Owens Corning, The Chemours Company, Paroc Group, Kingspan Group, DAIKIN , and various others.