Industrial Repair Adhesives Market Size, Share, Growth, and Industry Analysis, By Type (Metal Repair, Rubber Repair, Concrete Repair, Others), By Application (General Manufacturing, Metallurgy, Automotive, Oil and Gas, Power Plant, Water Treatment, Mining, Marine, Others) and Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

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The global industrial repair adhesives market size was USD 3429.6 million in 2022. As per our research, the market is expected to reach USD 4672.7 million by 2028, exhibiting a CAGR of 5.3% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, industrial repair adhesives experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Surface bonding followed by cohesion are two methods used by industrial repair adhesives to join different substrates. They are made to facilitate the production of components and materials. They are designed to withstand strong impacts and peel pressures, give high tensile strength, and provide the best temperatures along with chemical resistance.

This is due to its widespread use in end-use industries including packaging, construction, the automotive industry, and others. The requirement for adhesives throughout the building industry is also increased by government initiatives that stimulate infrastructure development in emerging economies.

COVID-19 Impact: Disruptions in Facilities to Deplete Market Growth

The market was drastically affected by the COVID-19 pandemic. As most of the revenue which the market collected was under the influence of end-use sector that include automotive, construction and packaging. Out of these three sector none of them were proliferating during the sudden outbreak. Hence, the market faced a lot of supply chain barriers and disruptions in demand. However, owing to the current stage of the advancements being held on a rapid pace will expand the market and its operations during the anticipated timeframe.

LATEST TRENDS 

"Construction and Automobile Sectors to Stimulate Market Development  "

The key factor propelling industrial repair adhesives market growth is a growing need for industrial repair adhesives within the construction and automobile sectors. A variety of adhesives are needed for construction and building undertakings. Construction materials, both traditional and newly created, need adhesives to demonstrate strong adhesion, improved performance, and easier application. All building materials, including concrete, glass, and plastics, use adhesives to display good adhesion, improved performances, and easier application techniques.

Non-structural adhesives are utilized for connecting ornamental materials including wall and floor coverings in addition to other materials that don't need a lot of strength, including panels, fiber and particle boards, trim, and some interior doors, which is propelling the repair adhesives market revenue growth. 

SEGMENTATION 

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By Type

Based on type; the market is divided into metal repair, rubber repair, concrete repair, others

Metal repair is the leading part of the type segment.

By Application

Based on the application; the market is divided into general manufacturing, metallurgy, automotive, oil and gas, power plant, water treatment, mining, marine, others

General manufacturing is the leading part of the application segment.

DRIVING FACTORS

"Natural Category of the Advanced Material to Aid Market Expansion  "

The market worldwide is divided into two categories based on material: natural and synthetic. Over the projected period, the natural category is anticipated to post a considerably rapid rate of revenue growth. Natural adhesives are made from organic substances. The glue is made from a variety of naturally occurring substances, including proteins including gelatin, starch, and cellulose.

Gelatin-based natural glues, commonly referred to as protein glues, being completely hydro-pulpable due to their structural makeup. Protein glue is made up of polyamides of alpha amino acids. Protein glues are insoluble with waxes, oils, solvents made from organic matter, and pure alcohol. They may be used to create emulsions with either water or oil, which is what is causing the segment's revenue to expand.

"Utilization in End-Users Industries to Foster Industry Progress "

In a number of end-user industries, including construction, consumer goods, electronics, aviation, packaging, and various other heavy industries, industrial adhesives are increasingly replacing mechanical fasteners. Because they outperform traditional methods in terms of product performance and operation, manufacturers are turning to adhesives for use in industrial applications. Additionally, adhesive bonding is a good substitute for welding because it provides a better finished look, better stress distribution, and higher strength performance. These benefits using adhesives are projected to boost consumer demand for them during the anticipated time frame.

RESTRAINING FACTOR

"High Price of the Raw Material to Limit the Market Evolution "

Due to industrial adhesives' high cost, the market is experiencing difficulties, particularly in price-sensitive areas such as emerging economies. Petrochemicals and crude oil are utilized as the primary raw ingredients in the production of industrial adhesives. Silicone, polyurethane, ethyl vinyl acetate, and other materials are some of the main raw components. The fluctuation in crude oil prices is expected to have an impact on the cost of supplies, which could therefore have an impact on participants' profitability.

As a result, industrial adhesive use may decline in developing nations with price-conscious end users as a result of rising industrial adhesive prices. During the projected period, this is expected to have a significant impact on the industrial repair adhesives market.

REGIONAL INSIGHTS

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"Packaging Sectors in Asia Pacific to Support Market Advancement "

Over the course of the forecast period, the Asia Pacific industrial repair adhesives market share is anticipated to experience extremely rapid revenue growth. One of the main factors propelling the expansion of the market's revenue in this area is the increasing need for industrial repair adhesives particularly in the automotive sector in nations including China, India, and Japan.

Additionally, rising requirements for adhesive in the construction and packaging sectors is to some extent assisting the region's market revenue growth. For instance, Sika opened a cutting-edge innovation center and manufacturing plant for premium sealants and adhesives in Pune, Maharashtra, on December 14, 2021. The new plant's improved facilities for research and development and manufacturing are intended to keep up with the market's fast increasing demand in India.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Henkel (Germany)
• H.B. Fuller (U.S.)
• 3M (U.S.)
• Dow (U.S.)
• Sika (Switzerland)
• Bostik (Arkema) (U.S.)
• Belzona (U.S.)
• Enecon (U.S.)
• Hernon (U.S.)
• Permabond (U.S.)
• Krylex (Chemence) (U.S.)
• Chester Molecular (Poland)
• Unique Polymer Systems (U.K.)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.