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The global non-woven adhesives market is witnessing significant growth, with the market size reaching USD 2.5 billion in 2022 and expected to reach USD 5.66 billion by 2032, registering a CAGR of 9.5% during the forecast period. The demand for non-woven adhesives is increasing across various end-use industries, including hygiene, medicine, and packaging, owing to their exceptional bonding abilities and great adhesion to numerous substrates. The market growth is driven by several factors, including the rising need for better hygiene products, increased awareness of the benefits of utilizing disposable items, and growing healthcare concerns.
Moreover, the use of non-woven adhesives in the automotive industry is also driving market growth, especially for interior and exterior applications. Manufacturers are turning to lighter and more fuel-efficient vehicles, and non-woven adhesives are being used in car interiors, including headliners, carpeting, and seating, due to their noise reduction and vibration-dampening capabilities. The trend of electric vehicles is also expected to increase demand for non-woven adhesives in the automotive industry.
The market growth is further boosted by technological advancements in non-woven adhesives, which are leading to the development of novel products with improved performance characteristics. Manufacturers are also focusing on creating sustainable and eco-friendly non-woven adhesives to cater to the rising demand for environmentally friendly products.
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Market Segments: -
The report covers the historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of market trends in each of the sub-segments from 2019 to 2032. The global non-woven adhesives market is segmented based on product type, application, and region.
Non-woven adhesives are increasingly being used across various end-use industries, such as hygiene, medicine, packaging, and automotive, due to their exceptional bonding abilities and great adhesion to numerous substrates.
The product type outlook includes Styrenic Block Copolymers, Ethylene Vinyl Acetate, Polyolefin, and Others. The application outlook includes Hygiene, Medical, Construction, and Others. The regional outlook covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report offers revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Strategic developments in the market:
· In 2018, Arkema SA acquired Bostik SA, a leading global adhesives company, for EUR 1.7 billion. This acquisition was aimed at expanding Arkema's specialty materials portfolio and increasing its presence in high-growth regions such as Asia-Pacific and the Americas.
· Another significant acquisition in the industry was made by 3M Company in 2017 when it acquired Scott Safety, a leading manufacturer of respiratory and personal protective equipment, for USD 2.0 billion. This acquisition was aimed at strengthening 3M's position in the personal protective equipment market and expanding its product portfolio.
· In 2016, Dow Chemical Company and DuPont announced a merger valued at USD 130 billion, which was completed in 2017. The merger aimed to create a global leader in the materials science industry, offering a broad portfolio of products and solutions to customers in various industries.
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Competitive Landscape:
Another strategy employed by companies is developing and testing new products to cater to evolving customer demands. In this regard, 3M Company has been a pioneer, offering a range of non-woven adhesives with features such as improved bond strength and faster curing time.
Geographical expansion has also been a key strategy, with companies seeking to tap into new markets and increase their customer base. For example, Henkel AG & Co. KGaA acquired Aislantes Nacionales S.A. (ANSA), a leading Chilean-based thermal insulation company, in 2021 to expand its product portfolio and strengthen its position in the Latin American market.
The major players in the global non-woven adhesives market include H.B. Fuller Company, Bostik SA, Henkel AG & Co. KGaA, Dow Chemical Company, Arkema Group, 3M Company, Beardow & Adams (Adhesives) Ltd., Ashland Global Holdings Inc., Avery Dennison Corporation, and Sika AG. These players account for a significant share of the market revenue, but the market remains fragmented, with many small and medium-sized players competing for market share.
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