Singapore Adhesives Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 410.91 Million |
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Market Size (2028) | USD 498.91 Million |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 4.97 % |
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Fastest Growing by End User Industry | Woodworking and Joinery |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Singapore Adhesives Market Analysis
The Singapore Adhesives Market size is estimated at 410.91 million USD in 2024, and is expected to reach 498.91 million USD by 2028, growing at a CAGR of 4.97% during the forecast period (2024-2028).
410.91 Million
Market Size in 2024 (USD)
498.91 Million
Market Size in 2028 (USD)
6.16 %
CAGR (2017-2023)
4.97 %
CAGR (2024-2028)
Largest Market by End-user Industry
65.30 %
value share, Packaging, 2023
The packaging industry holds the largest share of the market owing to its widespread applications, including labels, tapes, carton sealing, joining, and labeling.
Fastest Growing Market by End-user Industry
8.13 %
Projected CAGR, Woodworking and Joinery, 2024-2028
With the increasing demand for residential furniture, the woodworking and joinery industry is forecasted to be the fastest-growing segment in the upcoming years.
Largest Market by Technology
31.74 %
value share, Hot Melt, 2023
In Singapore, hot melt adhesives gain the major market share owing to their easy applicability, non-toxic, and fast curing process across industries.
Largest Market by Resin
22.59 %
value share, Polyurethane, 2023
Polyurethane adhesives hold the largest share owing to their wide applications in building construction, woodworking, and automotive industries, specifically for exterior applications.
Leading Market Player
10.43 %
market share, Henkel AG & Co. KGaA, 2021
Henkel is the leading adhesives manufacturer in Singapore. This can be attributed to the popularity of its products in a widespread of industries, including building and construction, automotive, aerospace, woodworking, and others.
The major growth rates poised for the Healthcare industry of Singapore to have a considerable influence on the overall growth of adhesives market
- Singapore's strong manufacturing capacities across healthcare, packaging, and electronic industries and adhesives have found a growth opportunity in terms of bonding and assembling applications. The demand for adhesives declined in 2020 due to trade and supply chain restrictions because of the COVID-19 pandemic, which resulted in a decline of above 7.5% in comparison to that of 2019.
- Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper and 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 32 thousand tons of water-borne adhesives were consumed in the packaging industry of the country in 2021. Hot-melt adhesives are the fastest-growing technology in the packaging industry, with a CAGR of 5.58% during the period 2022-2028. Sustainable food packaging may assist ensure the safety of the food consumed while also reducing food waste and thus helping the adhesives demand to increase in the industry. These factors have highly motivated the demand for packaging in the food sector.
- Singapore's adhesives are also largely being consumed across the healthcare industry. Singapore's healthcare system is regarded as one of the greatest in the world, offering some of the most cutting-edge medical treatments. This is due to robust regulatory oversight, a cost-sharing structure that includes both the commercial and public sectors and payments from medical savings accounts.
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Singapore Adhesives Market Trends
Usage of recyclable plastics for packaging production will open new opportunities to the industry growth
- Packaging is mainly used for protection, containment, information, utility, and promotion. The growing Singaporean packaging market segment is expected to register a CAGR of 3.77% during the forecast period. In 2017, packaging usage accounted for 33.4 million ton of packaging, including paper, paperboard, and plastic packaging. Due to the COVID-19 outbreak in 2020, the market registered a negative growth of -5.54% due to disruptions in the supply chain, shortage of packaging material, restrictions on the import and export of goods, and factories operating at low capacity.
- In 2021, the market registered a positive growth of 4.40%, with 35.6 million ton of packaging material used for various purposes. The packaging industry is expected to keep growing as there has been a rise in the e-commerce sector, which has significantly boosted the packaging industry as special packaging is required for shipping goods. In 2021, the Singaporean e-commerce market was valued at USD 5.9 billion, and it is expected to rise to USD 10 billion by 2026. In today's competitive FMCG market, it has become inevitable for companies to use attractive packaging and bring innovation to their packaging to stand out from their competitors and maintain their brand in the market.
- The Singaporean government has implemented regulations to include recyclable plastics in products. Packaging production is majorly driven by plastic in the country, which nearly accounts for around 64% of the packaging produced in 2021. With the advancement of plastic recyclability, the plastic segment is likely to maintain its growth and record a CAGR of around 4.75% during the forecast period.
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Ongoing and upcoming investments in the construction of public buildings will support the end-user industry
- The Singaporean construction industry is projected to record a CAGR of about 2.6% during the forecast period from 2022 to 2028. The construction demand hit a five-year high in 2019, with an estimated SGD 33.4 billion worth of projects awarded, higher than its top-end projection of SGD 32 billion. This represented a 9.5% increase in construction demand compared to 2018. However, in 2020, due to the impact of the COVID-19 pandemic, which disrupted project implementation schedules, the preliminary figure for construction demand witnessed a decline of 36.5% to SGD 21.3 billion. The Singaporean construction adhesives and sealants market is projected to record a CAGR of about 2.86% in volume and 5.31% in value during the forecast period 2022-2028.
- Public sector construction declined from SGD 19 billion in 2019 to SGD 13.2 billion in 2020, as certain large infrastructure projects were postponed due to the need for more time to examine the pandemic's impact on resource management and project scheduling. Moreover, construction demand in Singapore is estimated to be between USD 27 billion and USD 32 billion in 2022, and the public sector is likely to provide roughly 60% of the overall demand. The public sector's construction demand is expected to range between USD 16 billion and USD 19 billion.
- On the other hand, residential construction in Singapore remains weak due to the growing stock of unsold buildings, further aggravated by the economic downturn due to the COVID-19 pandemic. However, to reduce the population density in dormitories amid the pandemic, the government had planned to construct additional housing for around 60,000 migrant workers by the end of 2020. These factors are expected to restrain the demand for adhesives and sealants over the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increasing demand from civil aviation will propel the aerospace industry in the country
- Recent investment by local manufacturers to support domestic footwear demand will aid the growth of industry
- Import dependency will likely squeeze the industry size in the upcoming years
- Rising export values will augment the furniture market in the country
Singapore Adhesives Industry Overview
The Singapore Adhesives Market is fragmented, with the top five companies occupying 19.36%. The major players in this market are 3M, Arkema Group, AVERY DENNISON CORPORATION, Dow and Henkel AG & Co. KGaA (sorted alphabetically).
Singapore Adhesives Market Leaders
3M
Arkema Group
AVERY DENNISON CORPORATION
Dow
Henkel AG & Co. KGaA
Other important companies include ALTECO co., ltd., Dymax, H.B. Fuller Company, Huntsman International LLC, Sika AG.
*Disclaimer: Major Players sorted in alphabetical order.
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Singapore Adhesives Market News
- December 2021: Under the Nuplaviva brand, Arkema introduced a new range of disposable hygiene adhesive solutions formulated with bio-based renewable content.
- November 2021: Dymax launched 9501-F, a new structural bonding adhesive for electric vehicle battery applications. The product offers excellent protection against vibration, shock, and other damaging forces for EV components.
- November 2021: Dymax launched the 2000-MW series, a new adhesive series for medical wearables assembly applications.
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.
Singapore 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 Singapore
- 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 ALTECO co., ltd.
- 6.4.3 Arkema Group
- 6.4.4 AVERY DENNISON CORPORATION
- 6.4.5 Dow
- 6.4.6 Dymax
- 6.4.7 H.B. Fuller Company
- 6.4.8 Henkel AG & Co. KGaA
- 6.4.9 Huntsman International LLC
- 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, SINGAPORE, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, SINGAPORE, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, SINGAPORE, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, SINGAPORE, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, SINGAPORE, 2017-2028
- Figure 6:
- PRODUCTION VOLUME OF FURNITURE, UNITS, SINGAPORE, 2017-2028
- Figure 7:
- VOLUME OF CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 8:
- VALUE OF CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 9:
- VOLUME OF ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 10:
- VALUE OF ADHESIVES CONSUMED BY END USER INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 11:
- VOLUME SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2022 VS 2028
- Figure 12:
- VALUE SHARE OF ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2022 VS 2028
- Figure 13:
- VOLUME OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 14:
- VALUE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 15:
- VALUE SHARE OF ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 16:
- VOLUME OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 17:
- VALUE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 18:
- VALUE SHARE OF ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 19:
- VOLUME OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 20:
- VALUE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 21:
- VALUE SHARE OF ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 22:
- VOLUME OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 23:
- VALUE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 24:
- VALUE SHARE OF ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 25:
- VOLUME OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 26:
- VALUE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 27:
- VALUE SHARE OF ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 28:
- VOLUME OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 29:
- VALUE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 30:
- VALUE SHARE OF ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 31:
- VOLUME OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 32:
- VALUE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 33:
- VALUE SHARE OF ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 34:
- VOLUME OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 35:
- VALUE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, SINGAPORE, 2017 - 2028
- Figure 36:
- VALUE SHARE OF ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, SINGAPORE, 2021 VS 2028
- Figure 37:
- VOLUME OF ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 38:
- VALUE OF ADHESIVES CONSUMED BY TECHNOLOGY, USD, SINGAPORE, 2017 - 2028
- Figure 39:
- VOLUME SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, SINGAPORE, 2022 VS 2028
- Figure 40:
- VALUE SHARE OF ADHESIVES CONSUMED BY TECHNOLOGY, %, SINGAPORE, 2022 VS 2028
- Figure 41:
- VOLUME OF HOT MELT ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 42:
- VALUE OF HOT MELT ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 43:
- VALUE SHARE OF HOT MELT ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2021 VS 2028
- Figure 44:
- VOLUME OF REACTIVE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 45:
- VALUE OF REACTIVE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 46:
- VALUE SHARE OF REACTIVE ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2021 VS 2028
- Figure 47:
- VOLUME OF SOLVENT-BORNE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 48:
- VALUE OF SOLVENT-BORNE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 49:
- VALUE SHARE OF SOLVENT-BORNE ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2021 VS 2028
- Figure 50:
- VOLUME OF UV CURED ADHESIVES ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 51:
- VALUE OF UV CURED ADHESIVES ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 52:
- VALUE SHARE OF UV CURED ADHESIVES ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2021 VS 2028
- Figure 53:
- VOLUME OF WATER-BORNE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 54:
- VALUE OF WATER-BORNE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 55:
- VALUE SHARE OF WATER-BORNE ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2021 VS 2028
- Figure 56:
- VOLUME OF ADHESIVES CONSUMED BY RESIN, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 57:
- VALUE OF ADHESIVES CONSUMED BY RESIN, USD, SINGAPORE, 2017 - 2028
- Figure 58:
- VOLUME SHARE OF ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2022 VS 2028
- Figure 59:
- VALUE SHARE OF ADHESIVES CONSUMED BY RESIN, %, SINGAPORE, 2022 VS 2028
- Figure 60:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 61:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 62:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 63:
- VOLUME OF CYANOACRYLATE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 64:
- VALUE OF CYANOACRYLATE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 65:
- VALUE SHARE OF CYANOACRYLATE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 66:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 67:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 68:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 69:
- VOLUME OF POLYURETHANE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 70:
- VALUE OF POLYURETHANE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 71:
- VALUE SHARE OF POLYURETHANE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 72:
- VOLUME OF SILICONE ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 73:
- VALUE OF SILICONE ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 74:
- VALUE SHARE OF SILICONE ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 75:
- VOLUME OF VAE/EVA ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 76:
- VALUE OF VAE/EVA ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 77:
- VALUE SHARE OF VAE/EVA ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 78:
- VOLUME OF OTHER RESINS ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 79:
- VALUE OF OTHER RESINS ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 80:
- VALUE SHARE OF OTHER RESINS ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 81:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, SINGAPORE, 2019 - 2021
- Figure 82:
- MOST ADOPTED STRATEGIES, COUNT, SINGAPORE, 2019 - 2021
- Figure 83:
- REVENUE SHARE OF ADHESIVES BY MAJOR PLAYERS, %, SINGAPORE, 2021
Singapore 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.
- Singapore's strong manufacturing capacities across healthcare, packaging, and electronic industries and adhesives have found a growth opportunity in terms of bonding and assembling applications. The demand for adhesives declined in 2020 due to trade and supply chain restrictions because of the COVID-19 pandemic, which resulted in a decline of above 7.5% in comparison to that of 2019.
- Adhesives are majorly consumed in the packaging industry in the country owing to their importance in bonding plastics, metals, and paper and 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 32 thousand tons of water-borne adhesives were consumed in the packaging industry of the country in 2021. Hot-melt adhesives are the fastest-growing technology in the packaging industry, with a CAGR of 5.58% during the period 2022-2028. Sustainable food packaging may assist ensure the safety of the food consumed while also reducing food waste and thus helping the adhesives demand to increase in the industry. These factors have highly motivated the demand for packaging in the food sector.
- Singapore's adhesives are also largely being consumed across the healthcare industry. Singapore's healthcare system is regarded as one of the greatest in the world, offering some of the most cutting-edge medical treatments. This is due to robust regulatory oversight, a cost-sharing structure that includes both the commercial and public sectors and payments from medical savings accounts.
| 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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