Mexico Adhesives Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 1.44 Billion |
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Market Size (2028) | USD 1.84 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 6.26 % |
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Fastest Growing by End User Industry | Automotive |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Mexico Adhesives Market Analysis
The Mexico Adhesives Market size is estimated at 1.44 billion USD in 2024, and is expected to reach 1.84 billion USD by 2028, growing at a CAGR of 6.26% during the forecast period (2024-2028).
1.44 Billion
Market Size in 2024 (USD)
1.84 Billion
Market Size in 2028 (USD)
4.36 %
CAGR (2017-2023)
6.26 %
CAGR (2024-2028)
Largest Market by End-user Industry
36.65 %
value share, Packaging, 2023
In Mexico, packaging is the dominant end-user industry due to the wide range of adhesive applications, including labels, tapes, carton sealing and joining, and laminating.
Fastest Growing Market by End-user Industry
9 %
Projected CAGR, Automotive, 2024-2028
The automotive industry is expected to be the fastest-growing end-user segment in the market due to the rising demand for lightweight and high-impact resistant components to substitute traditional metal joints and fasteners.
Largest Market by Technology
31.68 %
value share, Water-borne, 2023
Waterborne technology is an eco-friendly and economically viable solution that has obtained a significant market share due to its well-recognized usage in food packaging applications through emulsion and dispersion systems.
Largest Market by Resin
22.37 %
value share, Polyurethane, 2023
Polyurethane is the largest resin-based adhesive owing to its wide applications in packaging, building construction, and automotive industries, both for exterior and interior applications.
Leading Market Player
13.42 %
market share, Henkel AG & Co. KGaA, 2021
Henkel AG & Co. KGaA is the leading adhesives manufacturer in Mexico, which can be attributed to the popularity of its products in widespread industries, including building and construction, automotive, aerospace, and woodworking.
Increase in the use of adhesive in the construction industry to boost the market growth
- Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper & cardboard packaging applications. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 77 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
- Adhesives are majorly used in the construction industry in Mexico due to their diverse applications, such as assembling prefabricated blocks, roofing, plumbing, and flooring. The Mexican construction industry is likely to grow by 3.1% by 2025, owing to favourable government policies, such as the National Development Plan, propelling the construction adhesives demand in the coming years.
- The Mexican healthcare industry has achieved significant growth in recent times. Healthcare expenditure as a share of GDP reached 6.2% in 2020 from 5.4% in 2019. Adhesives have widespread applications in healthcare, such as assembling and bonding medical device parts.
- The automotive industry exhibits a decent share in the adhesives market because of their applicability to various substrates such as glass, metal, plastic, and painted surfaces. During the COVID-19 pandemic in 2020, automotive production decreased by 28% due to a shortage of raw materials and disruption of the supply chain, leading to a decrease in overall adhesive consumption. A range of applications of a variety of adhesives in the locomotive, marine, and DIY industries may boost the demand for required adhesives over the forecast period.
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Mexico Adhesives Market Trends
Rising e-commerce food and beverage market sales with forecast of around USD 15 billion in 2025 is likely to boost packaging industry
- Packaging is one of the fastest-growing industries in the country. The demand for quick and on-the-go packaged items is increasing as a result of busier lifestyles, greater spending power, and related factors in the country. Due to the COVID-19 pandemic, the country-wide lockdowns and temporary shutdown of manufacturing facilities caused several issues, including disruptions in the supply chain, imports, and exports. Thus, the country's packaging production declined by 6% in 2020 compared to the previous year, significantly affecting the market.
- Mexico’s packaging industry is majorly driven by the rapid growth of the food and beverages industry. Over the recent years, the demand for online food and beverage shopping has been increasing as it offers food at home and decreases the time. The e-commerce food and beverage market sales amounted to around USD 6.8 billion in 2021 and are forecast to grow to around USD 15 billion in 2025.
- Packaging production is majorly driven by paper and paperboard in the country, which accounted for around 38% of the packaging produced in 2021. However, with the advancement of plastic recyclability, the plastic production segment is likely to register the fastest growth rate of around 4.8% CAGR during the forecast period.
- The growing interest in public health, along with the emerging e-commerce activities across the nation, is likely to continue the growth of the food processing industry, which will further increase the packaging demand in the coming years.
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Government's United states-Canada-Mexico agreement for automobile components and rising electric vehicles demand will increase the automotive production
- The Mexican automotive manufacturing industry is one of the country's most significant industries, accounting for 20% of the nation's GDP and employing over one million people nationwide. Around 30 global OEMs have manufacturing facilities in Mexico. Automotive manufacturing in Mexico comprises seven major operating segments: original equipment (OEM), aftermarket parts, electric and hybrid vehicles, remanufactured products, heavy vehicles, and other specialty motor vehicles.
- Mexico is the sixth-largest global passenger vehicle manufacturer. 89% of vehicles produced in Mexico are exported, with 80% exported to the United States. Mexico is the sixth-largest manufacturer and ranks fourth globally in the exports of heavy-duty vehicles for cargo, with 14 manufacturers operating through 11 manufacturing plants. Mexico is the leading global exporter of tractor trucks, exporting 94.5% of its production to the United States. In 2020, due to supply chain restrictions and labor unavailability caused by the COVID-19 pandemic, the country's production capacity declined by 20%.
- However, high raw material prices, shortage of semiconductor chips, and other logistical factors have restricted the growth of the automotive industry post-pandemic. Mexico's 12 free trade agreements with 46 countries, especially the United States-Mexico-Canada Agreement (USMCA), have placed Mexico in a strategic position to locally purchase auto parts previously imported from outside North America. However, in 2021, the country's electric vehicle registration witnessed a growth rate of 80% compared to 2020, and it is likely to increase in the future, thereby increasing automotive production in the country over the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- With aircraft manufacturers comprising 79% of the aerospace sector, aircraft components production holds the major share in Mexico's aerospace industry
- Owing to 12 free trade agreements of Mexico, the globalization of the footwear industry is likely to boost the demand
- Rising government initiatives including the National Development Plan (2018–2024) to propel the construction industry
- Rising interior furnishing and easy purchase and install of furniture leads to the woodworking and joinery demand
Mexico Adhesives Industry Overview
The Mexico Adhesives Market is fragmented, with the top five companies occupying 19.82%. The major players in this market are 3M, Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA and Sika AG (sorted alphabetically).
Mexico Adhesives Market Leaders
3M
Arkema Group
H.B. Fuller Company
Henkel AG & Co. KGaA
Sika AG
Other important companies include Dow, Illinois Tool Works Inc., Jowat SE, Niasa México, SACV, Saint-Gobain.
*Disclaimer: Major Players sorted in alphabetical order.
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Mexico Adhesives Market News
- April 2022: ITW Performance Polymers launched Plexus MA8105 as its newest adhesive with fast room-temperature curing, excellent mechanical properties, and a broad range of adhesion.
- February 2022: Arkema Group completed the acquisition of Ashland's Performance Adhesives business. Ashland is a world leader in high-performance adhesives in the United States.
- December 2021: Under the Nuplaviva brand, Arkema introduced a new range of disposable hygiene adhesive solutions formulated with bio-based renewable content.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
Mexico Adhesives Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Footwear and Leather
- 4.1.5 Packaging
- 4.1.6 Woodworking and Joinery
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4.2 Regulatory Framework
- 4.2.1 Mexico
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Footwear and Leather
- 5.1.5 Healthcare
- 5.1.6 Packaging
- 5.1.7 Woodworking and Joinery
- 5.1.8 Other End-user Industries
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5.2 Technology
- 5.2.1 Hot Melt
- 5.2.2 Reactive
- 5.2.3 Solvent-borne
- 5.2.4 UV Cured Adhesives
- 5.2.5 Water-borne
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5.3 Resin
- 5.3.1 Acrylic
- 5.3.2 Cyanoacrylate
- 5.3.3 Epoxy
- 5.3.4 Polyurethane
- 5.3.5 Silicone
- 5.3.6 VAE/EVA
- 5.3.7 Other Resins
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 3M
- 6.4.2 Arkema Group
- 6.4.3 Dow
- 6.4.4 H.B. Fuller Company
- 6.4.5 Henkel AG & Co. KGaA
- 6.4.6 Illinois Tool Works Inc.
- 6.4.7 Jowat SE
- 6.4.8 Niasa México, SACV
- 6.4.9 Saint-Gobain
- 6.4.10 Sika AG
7. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8. APPENDIX
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8.1 Global Adhesives and Sealants Industry Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Drivers, Restraints, and Opportunities
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, MEXICO, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, MEXICO, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, MEXICO, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, MEXICO, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, MEXICO, 2017-2028
- Figure 6:
- PRODUCTION VOLUME OF FURNITURE, UNITS, MEXICO, 2017-2028
- Figure 7:
- VOLUME OF CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 8:
- VALUE OF CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 9:
- VOLUME OF ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 10:
- VALUE OF ADHESIVES CONSUMED BY END USER INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 11:
- VOLUME SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2022 VS 2028
- Figure 12:
- VALUE SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2022 VS 2028
- Figure 13:
- VOLUME OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 14:
- VALUE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 15:
- VALUE SHARE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 16:
- VOLUME OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 17:
- VALUE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 18:
- VALUE SHARE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 19:
- VOLUME OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 20:
- VALUE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 21:
- VALUE SHARE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 22:
- VOLUME OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 23:
- VALUE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 24:
- VALUE SHARE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 25:
- VOLUME OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 26:
- VALUE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 27:
- VALUE SHARE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 28:
- VOLUME OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 29:
- VALUE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 30:
- VALUE SHARE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 31:
- VOLUME OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 32:
- VALUE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 33:
- VALUE SHARE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 34:
- VOLUME OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 35:
- VALUE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, MEXICO, 2017 - 2028
- Figure 36:
- VALUE SHARE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, MEXICO, 2021 VS 2028
- Figure 37:
- VOLUME OF ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, MEXICO, 2017 - 2028
- Figure 38:
- VALUE OF ADHESIVES CONSUMED BY TECHNOLOGY, USD, MEXICO, 2017 - 2028
- Figure 39:
- VOLUME SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, MEXICO, 2022 VS 2028
- Figure 40:
- VALUE SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, MEXICO, 2022 VS 2028
- Figure 41:
- VOLUME OF HOT MELT ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 42:
- VALUE OF HOT MELT ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 43:
- VALUE SHARE OF HOT MELT ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2021 VS 2028
- Figure 44:
- VOLUME OF REACTIVE ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 45:
- VALUE OF REACTIVE ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 46:
- VALUE SHARE OF REACTIVE ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2021 VS 2028
- Figure 47:
- VOLUME OF SOLVENT-BORNE ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 48:
- VALUE OF SOLVENT-BORNE ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 49:
- VALUE SHARE OF SOLVENT-BORNE ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2021 VS 2028
- Figure 50:
- VOLUME OF UV CURED ADHESIVES ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 51:
- VALUE OF UV CURED ADHESIVES ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 52:
- VALUE SHARE OF UV CURED ADHESIVES ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2021 VS 2028
- Figure 53:
- VOLUME OF WATER-BORNE ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 54:
- VALUE OF WATER-BORNE ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 55:
- VALUE SHARE OF WATER-BORNE ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2021 VS 2028
- Figure 56:
- VOLUME OF ADHESIVES CONSUMED BY RESIN, KILOGRAM, MEXICO, 2017 - 2028
- Figure 57:
- VALUE OF ADHESIVES CONSUMED BY RESIN, USD, MEXICO, 2017 - 2028
- Figure 58:
- VOLUME SHARE OF ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2022 VS 2028
- Figure 59:
- VALUE SHARE OF ADHESIVES CONSUMED BY RESIN, %, MEXICO, 2022 VS 2028
- Figure 60:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 61:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 62:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 63:
- VOLUME OF CYANOACRYLATE ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 64:
- VALUE OF CYANOACRYLATE ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 65:
- VALUE SHARE OF CYANOACRYLATE ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 66:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 67:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 68:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 69:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 70:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 71:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 72:
- VOLUME OF SILICONE ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 73:
- VALUE OF SILICONE ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 74:
- VALUE SHARE OF SILICONE ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 75:
- VOLUME OF VAE/EVA ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 76:
- VALUE OF VAE/EVA ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 77:
- VALUE SHARE OF VAE/EVA ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 78:
- VOLUME OF OTHER RESINS ADHESIVES CONSUMED, KILOGRAM, MEXICO, 2017 - 2028
- Figure 79:
- VALUE OF OTHER RESINS ADHESIVES CONSUMED, USD, MEXICO, 2017 - 2028
- Figure 80:
- VALUE SHARE OF OTHER RESINS ADHESIVES CONSUMED BY END USER INDUSTRY, %, MEXICO, 2021 VS 2028
- Figure 81:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, MEXICO, 2019 - 2021
- Figure 82:
- MOST ADOPTED STRATEGIES, COUNT, MEXICO, 2019 - 2021
- Figure 83:
- REVENUE SHARE OF ADHESIVES BY MAJOR PLAYERS, %, MEXICO, 2021
Mexico Adhesives Industry Segmentation
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Hot Melt, Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Acrylic, Cyanoacrylate, Epoxy, Polyurethane, Silicone, VAE/EVA are covered as segments by Resin.
- Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper & cardboard packaging applications. Waterborne adhesives are highly consumed in the industry because of their cheaper cost and high bonding strength which is required in these applications. It is seen that nearly 77 thousand tons of water-borne adhesives are consumed in the packaging industry of the country during 2021.
- Adhesives are majorly used in the construction industry in Mexico due to their diverse applications, such as assembling prefabricated blocks, roofing, plumbing, and flooring. The Mexican construction industry is likely to grow by 3.1% by 2025, owing to favourable government policies, such as the National Development Plan, propelling the construction adhesives demand in the coming years.
- The Mexican healthcare industry has achieved significant growth in recent times. Healthcare expenditure as a share of GDP reached 6.2% in 2020 from 5.4% in 2019. Adhesives have widespread applications in healthcare, such as assembling and bonding medical device parts.
- The automotive industry exhibits a decent share in the adhesives market because of their applicability to various substrates such as glass, metal, plastic, and painted surfaces. During the COVID-19 pandemic in 2020, automotive production decreased by 28% due to a shortage of raw materials and disruption of the supply chain, leading to a decrease in overall adhesive consumption. A range of applications of a variety of adhesives in the locomotive, marine, and DIY industries may boost the demand for required adhesives over the forecast period.
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodworking and Joinery | |
| Other End-user Industries | |
| Technology | Hot Melt |
| Reactive | |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne | |
| Resin | Acrylic |
| Cyanoacrylate | |
| Epoxy | |
| Polyurethane | |
| Silicone | |
| VAE/EVA | |
| Other Resins |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the adhesives market.
- Product - All adhesive products are considered in the market studied
- Resin - Under the scope of the study, resins like Polyurethane, Epoxy, Acrylic, Cyanoacrylate, VAE/EVA, and Silicone are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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