Adhesives Sourcing Intelligence: Adhesives category is expected to have pricing growth outlook of 6%

Adhesives Procurement Intelligence

The adhesives category is anticipated to grow at a CAGR of 6% from 2023 to 2030.

The Asia Pacific region accounted for 41% of the total category share in 2022. Rising construction activities, and the increasing demand from end-user industries such as automotive, electronics, construction, and packaging are driving the growth in this category. One of the major developments is the rise in demand for specialized adhesives used in intricate product manufacturing.

Order your copy of the Adhesives category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Water-based adhesives are becoming increasingly popular in the adhesives category due to their environmental benefits. They emit fewer volatile organic compounds (VOCs) than solvent-based products, and they are also less flammable. Solvent-free adhesives, which contain less than 5% of hazardous solvents, are another environmentally friendly product. Companies are focusing on developing bio-based products to meet the growing demand. For instance, in November 2022, Bostik (Arkema Group) launched two new label adhesives in India to boost sustainable packaging in the country. Similarly, in March 2022, H.B. Fuller announced the launch of sustainable adhesives under its Swift Tak brand, for the packaging sector. Additionally, a line of metallocene-based hot melt adhesives for bookbinding applications will be introduced by H.B. Fuller.

Adhesives Procurement Intelligence Report Scope

The Adhesives category is expected to have pricing growth outlook of 8 - 12% from 2023 to 2030, with below pricing models.

• Fixed cost pricing model
• volume-based pricing model
• spot pricing model

Supplier Selection Scope of Report

• Cost and pricing
• Past engagements
• Productivity
• Geographical presence

Supplier Selection Criteria of Report

• Tensile strength
• temperature resistance
• density
• viscosity
• technical specifications
• operational capabilities
• regulatory standards and mandates
• category innovations
• others

Adhesives Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape
• Market estimates and forecasts from 2023 to 2030
• Growth opportunities, trends, and driver analysis
• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
• Porter’s 5 forces
• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
• Engagement and operating models, KPI, and SLA elements
• LCC/BCC analysis and negotiation strategies
• Peer benchmarking and product analysis
• Market report in PDF, Excel, and PPT and online dashboard versions

Adhesives Procurement Cost and Supplier Intelligence

In the medical device and healthcare sector, leading companies such as 3M, H.B. Fuller, and Henkel are boosting their efforts to create high-performance adhesives appropriate for medical products. For instance, in January 2023, H.B. Fuller launched Swift Melt 1515, its first biocompatible adhesive in the IMEA (India, the Middle East, and Africa) market for medical applications. Swift Melt 1515-I provides efficient, high-tack bonding that is secure, fast, and temperature- and shear-resistant. The product underwent extensive testing and received an ISO 10993-5 certification for cytotoxicity. Similarly, in April 2021, 3M launched its "2484 3M Single Coated Medical Film Tape with Hi-Tack Silicone Adhesive on Liner", in its class of silicone adhesives for aging people (such as patients with chronic diseases) with fragile skin. The tape can be worn for seven days and reduces skin cell removal. The 2484 3M Hi-Tack Silicone Adhesive complies with ISO 10993 sections 5 and 10 and is suitable with ethylene oxide (EtO) sterilization.

Acrylic and methacrylic acids, as well as their derivatives based on esters, are the primary raw ingredients used in the production of acrylic adhesives. Other substances, for instance, methyl methacrylate, are typically only utilized as supplementary monomers. Primary resins, solvents, fillers, plasticizers, reinforcements, thickeners, and thixotropic agents, are some of the different components in an adhesive composition. Increasing prices of raw materials, solvents, inflations, and supply chain disruptions have significantly impacted product prices. In 2022, British Coatings Federation data stated that solvent prices in Q1 - Q2 2022 had increased by 78% since November 2021, and resin prices had increased by more than 39%. In 2022, epoxy resin prices have doubled since 2021. The sharp rise in oil and energy prices along with the Russian-Ukraine crisis has been a significant driver to the spikes in raw material prices. Leaders including H.B. Fuller, 3M, Dow, and DuPont have increased product prices globally by 8-12% due to ongoing inflationary pressure.

List of Key Suppliers

• 3M
• Henkel AG & Co.
• KGaA
• Arkema Group
• Sika AG
• Pidilite Industries Ltd.
• Huntsman International LLC
• Wacker Chemie AG
• Avery Dennison Corporation
• RPM International Inc.
• H.B. Fuller Company
• The Dow Chemical Company

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Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

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