The global liquid adhesives market size is projected to grow from USD 35.8 billion in 2020 to USD 44.6 billion by 2025, at a CAGR of 4.5% during the forecast period. The growing demand for liquid adhesives from end-use industries, such as paper, packaging, & related products, building & construction, medical and assembly & others, drives the liquid adhesives market. This demand has encouraged many companies to adopt various developmental strategies in the liquid adhesives industry to increase their presence in the market. The growth strategies, such as merger & acquisition and investment & expansion, were adopted by the players to increase their foothold and maintain sustained growth in the liquid adhesives market.
Liquid Adhesives are mainly used in paper, packaging & related products, building & construction, woodworking, consumer & DIY, automotive & transportation, leather & footwear, medical, assembly, etc. They are extensively used in the paper & packaging industry due to their ease of use and low cost when compared to conventional adhesives. They are in fluid form or state and have low viscosity. The wetting properties of these adhesives enable us to hold the substrate so that molecular contact between the substrate and adhesive is activated.
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The market in APAC is projected to register high growth, and the trend is projected to continue during the forecast period. The growth of the market can be attributed to the growing population and urbanization in the region. The emerging economies, such as India, China, and South Korea, are investing in various industrial developments that are also driving the liquid adhesives market.
There are various small, medium, and large players operating in the market. Some of the major market players include Henkel AG (Germany), Avery Dennison Corporation (US), H.B. Fuller (US), The 3M Company (US), Arkema (France), and Sika AG (Switzerland). They have adopted various developmental strategies such as mergers & acquisitions, new product launches, and investments & expansion to increase share in the market.
Henkel is a key player in the liquid adhesives market. The company is the leading manufacturer of liquid adhesives. It has a diversified product portfolio with several investments in product innovation. Its customers can choose from a wide variety of products. It has a strong network for distributing and manufacturing adhesives with more than 185 production sites to meet the changing demands of the liquid adhesives industry worldwide. The company continuously focuses on its organic & inorganic growth. This will boost the growth of the company and also its liquid adhesives business, globally.
In February 2020, Henkel Adhesives Technologies opened its new production facility in Kurkumbh, India. The unit aims to serve the growing demand for high-performance adhesives, sealants, and surface treatment products.
H.B. Fuller is the second most active company in the liquid adhesives market. The company offers broad products in the adhesives & sealants range. It provides its industrial and performance adhesives for applications in assembly, packaging, converting, nonwoven & hygiene, performance wood, flooring, textiles, graphic arts industries. It manufactures liquid adhesives using different technologies and for various applications and holds a leading position in the liquid adhesives market. It focuses on R&D for new product and innovation. It has a presence in diversified geographical markets. The company is continuously focusing on organic and inorganic growth strategies, which are expected to increase its presence and revenue globally.
In March 2019, H.B. Fuller established an engineering adhesives business in Japan. This expansion has strengthened its engineering adhesive (EA) business in Japan.
Liquid Adhesives Market by Technology (Water-based, Solvent-based, Reactive& Others), End-Use Industry (Paper, Packaging & Related Products, Building & Construction, Medical, Assembly & Others), Region - Global Forecast to 2025
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