Liquid Adhesives Market Expected to Reach $56.7 Billion by 2033

According to a new report published by Allied Market Research, titled, “Liquid Adhesives Market," The liquid adhesives market was valued at $38.3 billion in 2023, and is estimated to reach $56.7 billion by 2033, growing at a CAGR of 4% from 2023 to 2033. 

Liquid adhesives are substances in a liquid or semi-liquid state that are used to join or bond materials together. These adhesives are typically applied in their liquid form and then undergo a curing process to form a strong bond between the surfaces they are applied to. They are versatile and can be formulated to bond various materials such as metals, plastics, wood, ceramics, and composites. Liquid adhesives are commonly used in industries such as construction, automotive manufacturing, aerospace, electronics, and crafts.

The automotive and aerospace industries are increasingly adopting lightweight materials such as composites and aluminum alloys to improve fuel efficiency and reduce emissions. Liquid adhesives play a crucial role in bonding these lightweight materials, offering superior strength while minimizing weight. As the demand for lightweight structures grows, the demand for liquid adhesives as bonding solutions is expected to rise significantly.

Moreover, rapid expansion of the electronics industry, driven by technological advancements and increase in consumer demand for electronic devices, fuels the demand for liquid adhesives in electronics assembly. Liquid adhesives are used for bonding components in smartphones, tablets, laptops, and other electronic devices, providing excellent electrical insulation and mechanical stability. The proliferation of wearable devices and Internet of Things (IoT) devices further contributes to the growth of the liquid adhesives market.

Furthermore, the packaging industry relies on liquid adhesives for various applications, including carton sealing, labeling, and laminating. With the growth of e-commerce and the increasing demand for packaged goods, the packaging industry is experiencing significant expansion. Liquid adhesives offer efficient and cost-effective bonding solutions for a wide range of packaging materials, including paperboard, corrugated cardboard, plastics, and foils, thus driving the market growth.

However, price sensitivity among end users and intense competition within the adhesive market contribute to cost pressures for manufacturers. Raw material prices, especially petrochemical-derived components such as resins and solvents, are subject to volatility influenced by global market dynamics and geopolitical factors. Fluctuations in raw material costs directly impact production expenses, challenging adhesive manufacturers to maintain profitability while offering competitive pricing. Moreover, end users often prioritize cost-efficiency, prompting manufacturers to seek alternative formulations and production methods to reduce expenses without compromising performance.

On the contrary, with increasing environmental concerns and regulations, there's a growing emphasis on sustainability within the adhesive industry. Companies are actively seeking eco-friendly adhesive solutions that minimize environmental impact and reduce carbon footprint. This shift towards sustainability presents an opportunity for manufacturers to innovate and develop bio-based, renewable, and recyclable liquid adhesives that align with sustainability goals. In addition, initiatives such as the circular economy and cradle-to-cradle design are driving the adoption of adhesive products with extended lifecycle and minimal waste generation.

In addition, emerging economies present significant growth opportunities for the liquid adhesive market. Countries in Asia-Pacific, Latin America, and Africa are experiencing rapid industrialization, urbanization, and infrastructure development, thus driving the demand for adhesive products across various sectors. As these economies continue to grow, so does the demand for automotive, construction, electronics, and healthcare products, all of which rely on liquid adhesives for assembly, bonding, and sealing. Adhesive manufacturers can capitalize on this growth by expanding their presence in emerging markets and tailoring their products to meet local industry requirements.

The liquid adhesive market is segmented on the basis of formulation substrate, application, and region. By formulation, the market is segregated into water-based, solvent-based, and others. The water-based segment accounted for the highest share in terms of revenue. The increasing demand for water-based liquid adhesives is driven by their environmental sustainability, regulatory compliance, health and safety benefits, performance characteristics, versatility, cleanliness, consumer preferences, and cost competitiveness. As industries continue to prioritize sustainability and innovation, water-based adhesives are expected to gain further traction as the adhesive of choice across diverse applications and end-user industries.

By substrate, the market is classified into metal, plastic, glass, wood, and others. The paper segment accounted for the highest share in terms of revenue. Liquid adhesives are typically easy to apply on paper surfaces using applicators such as brushes, rollers, or nozzles. This ease of application enables precise control over the adhesive application, facilitating clean and efficient bonding. Moreover, many liquid adhesives formulated for paper applications have fast-drying properties, allowing for quick bonding and handling of paper materials. This feature is advantageous in high-volume production environments where fast assembly or packaging is required. Furthermore, liquid adhesives provide strong and durable bonds on paper substrates, ensuring that assembled products or packaging remain intact during handling, transportation, and use. This is especially important for applications such as packaging, bookbinding, and paper crafts where durability is crucial.

By end-user industry, the market is divided into automotive & transportation, building & construction, electronics, packaging, medical, and others. The medical end-user industry segment dominated the global market, in terms of revenue in 2023 with 30.5% share in the global market. The increasing demand for liquid adhesives in the medical sector is driven by their critical role in wound closure, surgical procedures, minimally invasive techniques, wound care, medical device assembly, tissue engineering, emergency medicine, and innovative product development. As healthcare technologies continue to evolve, liquid adhesives will remain essential tools for advancing patient care, improving treatment outcomes, and enhancing medical device performance and safety.

Region-wise, the liquid adhesive market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific liquid adhesive market size is projected to grow at the highest CAGR during the forecast period and accounted for a major market share in 2023. The increasing demand for liquid adhesives in the APAC region is fueled by industrial growth, construction and infrastructure development, automotive manufacturing, electronics production, consumer goods packaging, textile manufacturing, favorable economic conditions, and technological innovation. As the region continues to emerge as a global manufacturing powerhouse and consumer market, the demand for liquid adhesives is expected to grow steadily, presenting lucrative opportunities for adhesive manufacturers and suppliers in the APAC region.

Key players operating in the global liquid adhesive market include 3M Company, Avery Dennison Corporation, Beardow Adams, Bostik SA, DIC Corporation, Dow Inc., H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman Corporation, and Pidilite Industries Ltd. 

Other key players involved in the manufacturing of liquid adhesive includes DUNLOP INDUSTRIAL PRODUCTS PRIVATE LIMITED, Sundeep Chalks Mfg. Co., Astral Adhesives, Ellsworth Adhesives India PTY Limited, INNOMAX INDUSTRIES, Astra Chemtech Private Limited, Mayfair Biotech Pvt. Ltd., Revex Plasticisers Pvt Ltd., and others. The global liquid adhesives market report provides in-depth competitive analysis as well as profiles of these major players.     

Key Findings of the Study

• By formulation, the water-based segment is estimated to display the highest growth rate, in terms of revenue, from 2023 to 2032.
• By substrate, the paper segment is estimated to display the highest growth rate, in terms of revenue, from 2023 to 2032.
• By end-user industry, the medical segment is the most lucrative segment.
• By region, Asia-Pacific garnered the highest share in 2023, in terms of revenue, growing at a CAGR of 4.6%.