Adhesive is a general term for various stress materials that make the same or different materials join or bond, which is widely used in packaging operations and is one of the most important auxiliary materials. According to the different sources of materials, adhesives can be divided into natural adhesives and synthetic adhesives, according to the different bearing capacity, can be divided into structural, semi-structural and non-structural types, and according to their use characteristics, can be divided into water-soluble, hot-melt, solvent-based, emulsion and so on.
At present, the most common adhesives on the market are epoxy resin and acrolein-based adhesives, which account for half of the market. In 2020, epoxy resin and acrolein-based adhesives accounted for 18.42% and 32.34% of the market share, respectively, and the total market share of other types of products was 49.23%. From the perspective of different application fields, the automobile industry accounts for the highest proportion of the adhesive downstream application market, which is 27.32%, followed by the machinery industry, which accounts for 18.50% of the market, and the electronics industry ranks third with a share of 21.29%.
Europe is currently the industry's largest revenue market, and the Chinese market has a promising future
From a regional point of view, Europe is the largest revenue market for the global adhesive industry, with an export volume of 149,500 tons of adhesives in the region in 2019, with a total market value of US$6.319 billion, accounting for 41.37% of the global market share, followed by North America with a market share of 29.37%, and China is the third largest revenue market, accounting for 23.23% of the global market in 2019.
According to the data, the total market size of the global adhesive industry was US$1.628 billion in 2015, which increased to US$2.119 billion in 2019, with a CAGR of 6.81% from 2015 to 2019. On this basis, we have carried out a series of function calculations and deduced the data for the next 7 years with scientific models, and finally predicted that the total global market size of the industry will reach 2.778 billion US dollars by 2026. The CAGR from 2019 to 2026 is 3.94%. In addition, market share is expected to change by region. The market share of Europe and North America is expected to decline to 30.62% and 28.35% respectively in 2026, while China's market share is expected to increase to 25.48%, and China's adhesive market has a promising future.
Looking at the Asia-Pacific region as a whole, the development of the construction industry, mainly in fast-growing economies such as China and India, is driving the demand for adhesives. China and India are two of the fastest-growing economies with GDP growth rates higher than the global average, and the essential applications of construction sealants will continue to drive the demand for the adhesives market as economies such as China and India grow. Technological developments in regions such as South Korea and Japan have also contributed to the growth of the adhesive market to meet the industry's customization needs.
The top 3 companies in the global adhesive industry are Henkel, H.B. Fuller and 3M.
Founded in 1876, Henkel has a global presence and a balanced and diversified portfolio. With a strong brand, innovation and technology, Henkle is a leader in all three business units in the industrial and consumer sectors. H.B. Fuller, an industrial adhesive manufacturing company based in the United States, has long been praised by the investment community for its careful handling of toxic waste and the establishment of a nature reserve around its headquarters, which is in line with the current environmental philosophy. Founded in 1902, 3M is a multinational integrated manufacturing company that originated in the United States and its products include abrasives, tapes, blends, electronics, display products, medical products and household products.
In 2020, Henkle, H.B. Fuller, and 3M accounted for 24.79%, 5.96%, and 5.18% of the market shares, respectively. The market share of the top 3 enterprises is less than 40%, which shows that the concentration of the global adhesive industry is average, there are many small and medium-sized enterprises, and the competition is fierce.
The future direction of the adhesive market
3D vision systems in the field of adhesives
When an adhesive is used to hold two parts together or to seal a joint to an element, the adhesive footprint can often be determined using 2D machine vision or a human inspector, but these techniques cannot accurately determine the volume of the glue or the characteristics of the glue when the background of the adhesive and part is black. A 3D vision system overcomes these challenges by using a combination of laser projection lines and image sensors to determine the position and volume of the adhesive, which makes it easy to verify that the adhesive is being applied in the correct amount and is in the correct position for the sealed part. Therefore, in the future, 3D vision systems will be used to inspect adhesive applications that cannot be solved by traditional 2D vision systems.
Ebeam technology is booming
Ebeam technology has been developed for more than 40 years and has recently gained increasing traction among adhesive manufacturers and packaging converters as an alternative to oven drying and UV curing. Ebeam technology produces virtually no VOCs that can cause respiratory problems and harm air quality, making it compliant with the Adhesives and Sealants Council. In addition, the upfront cost of Ebeam systems has traditionally been more expensive than UV systems, but the payback period is often significant due to the fact that they provide more consistent output and have higher energy usage. As a result, Ebeam technology is expected to flourish in the adhesive manufacturing industry as it is both economical and functional.