Two component adhesives market To Hit $7 Bn By 2033

The global two component adhesives market is valued at $7 billion in 2023 and is thus anticipated to reach a valuation of $14 billion by 2033-end.

Two component adhesives are binding substances known for adhesions that are led by chemical reactions. These adhesives are sometimes recognised as reactive adhesives or structural adhesives, and are known for their fast curing, easy process due to their creamy consistency, flawless shine after mechanical polishing, high chemical and wear resistance, and high bonding power even at high temperatures. Owing to this, worldwide demand for these adhesives is consistently rising.

Polyurethane adhesives are utilised as sealants in many construction tasks, including repair and maintenance, plumbing, fittings, and masonry work. The need for polyurethane adhesives is driven by the rise in construction activities across the world.

Fluctuations in raw material prices

Manufacturers in the two component adhesives market have stated instability in the prices of raw materials. Adhesive raw materials are becoming more expensive due to rising prices for basic chemicals and intermediates, a massive reduction in local supply, and a high global demand.

The basic chemicals and intermediates that form the chemical foundation for many of the primary adhesive raw materials are causing significant price increases, which is concerning to the adhesive business.

According to pricing trends, adhesive raw material costs are more impacted by shifts in the supply or demand balance along the entire supply chain management. The price of the majority of adhesive raw materials is influenced more by demand/supply issues specific to each chemical than by the price of crude oil on the global market.

Competitive landscape

Top two component adhesive manufacturers are increasing R&D activities to improve product standards following safety regulations. Leading companies are focusing on new developments in manufacturing processes and maintaining quality control of two component adhesives to ensure longer lifecycles.

Key players in the market are working more on megatrends such as e-mobility, sustainability, and digitalisation to create a fast-changing environment. Major two component adhesive producers are now putting more effort into enhancing products by improving the stability and tensile strength of adhesives and preserving revenue share and profitability.

For instance:

• A well-known manufacturer, DuPont Mobility & Materials, declared a $5 million investment at its factories in Germany and Switzerland to boost the production of its high-performance automobile adhesives.
• In 2020, a three-year collaboration deal between 3M and Wrapmate, an end-to-end digital platform, was signed.