Anaerobic Adhesives Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 583.08 Million |
| Market Size (2029) | USD 803.77 Million |
| CAGR (2024 - 2029) | 6.63 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Anaerobic Adhesives Market Analysis
The Anaerobic Adhesives Market size is estimated at USD 583.08 million in 2024, and is expected to reach USD 803.77 million by 2029, growing at a CAGR of 6.63% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. However, the market recovered significantly in 2021, owing to rising consumption from various end-user industries such as electrical and electronics, building and construction, and others.
- Over the medium term, recovering the automotive industry and increasing demand from electrical and electronics industries are driving the growth of the studied market.
- On the flip side, the high cost of anaerobic adhesives hinders the growth of the anaerobic adhesives market.
- Nevertheless, increasing research and development and bio-based raw materials, coupled with growing prominence in the renewable energy market, are likely to act as lucrative opportunities for the studied market.
- Asia-Pacific is likely to dominate the global anaerobic adhesives market and is likely to grow with the highest CAGR during the forecast period.
Anaerobic Adhesives Market Trends
This section covers the major market trends shaping the Anaerobic Adhesives Market according to our research experts:
Increasing Demand from the Automotive and Transportation Industry
- In the automotive industry, retaining compounds, pipe sealants, gasket sealants, and thread-locking adhesives are widely used.
- They are used in the applications of engine and firewall sealing, engine monitor sensors, engine plug sealants, threaded hose connector sealants, threaded hose nipple sealants for pipes and straight threads of engine compartments, for interior sealing applications of thread-locking screws, bolts, and nuts, wheel bearings, automotive locking applications, automotive body/frame bolts, suspension areas, brakes, rear end, and transmission and many other applications.
- Anaerobic adhesives are also used in aerospace industry maintenance, repair, and operation (MRO) applications for applications including thread-locking, retaining, gasketing, and thread sealing. These adhesives help manufacturers avoid unnecessary machining of a wide range of mechanical components during MRO.
- The recent shift from Internal Combustion Engines to electric vehicles is driving innovation in automation technologies. Anaerobic adhesives replace mechanical fasteners as they may accommodate movements caused by thermal expansion and are not susceptible to corrosion.
- Adhesives are also preferred over conventional joining methods as they can prevent contact corrosion and provide impact resistance that is essential for withstanding the high dynamic forces of electric motors.
- The major automakers globally have announced plans to accelerate their electric vehicle future by developing new product lines and converting existing manufacturing facilities. For example:
- Toyota announced the roll-out of 30 Battery Electric Vehicles (BEV) models by 2030.
- Volvo is committed to becoming a fully electric car company by 2030.
- General Motors aims for 30 EV models and an installed production capacity of 1 million units in North America by 2025.
- In 2021, globally, 80.14 million automobile units were produced. This was an increase of 3% compared to 2020. The production of automobiles in Europe reduced by 4% compared to 2020, to 16.33 million units. The production increased by 3% compared to 2020 in America to 16.15 million units.
- The Asian-Pacific region witnessed a growth of 6% in 2021 compared to 2020 to 46.73 million units, while Africa witnessed a significant growth of 16% in 2021 compared to 2020 to reach 0.93 million units.
- In 2022, the joint venture company GAC Honda started the construction of a new car plant in Guangzhou, China. The plant is expected to have a capacity to produce 120,000 electric vehicles per year and is expected to start production by 2024. The investment amount is expected to be CNY 3.49 billion (~USD 0.5 billion).
- Such trends are driving the market for anaerobic adhesives.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific dominates the market owing to various emerging markets in the region, specifically in countries like China and India.
- China is the largest manufacturer of automobiles globally. In 2021, according to the OICA, the automotive production in the country reached 26.08 million, which increased by 3%, compared to 25.23 million vehicles produced in 2020.
- A growth of 106% in battery-plugged-in electric vehicles was witnessed in November 2021 compared to the same period in 2020. The country's sales of electric vehicles reached around 413,094 units in November 2021. In addition, the market share also increased to 19%, including 15% of all-electric and 4% of plug-in hybrid cars.
- China is also one of the largest aircraft manufacturers and one of the largest markets for domestic air passengers. Moreover, the country's aircraft parts and assembly manufacturing sector has been growing rapidly, with over 200 small aircraft parts manufacturers increasing the usage and demand for anaerobic adhesives. According to the Boeing Commercial Outlook 2021-2040, in China, around 8,700 new deliveries will be made by 2040, with a market service value of USD 1,800 billion. Owing to such new deliveries in the country, the demand for the market studied is likely to rise.
- Furthermore, in India, according to OICA, around 43,99,112 vehicles were produced in 2021, which increased by 30% compared to 3,381,819 units manufactured in 2020.
- In the aerospace sector, according to the India Brand Equity Foundation (IBEF), the country's aviation industry is expected to witness INR 35,000 crore (~USD 4.99 billion) investment in the next four years. The country is projected to have a demand for 2,100 aircraft over the next two decades, amounting to over USD 290 billion in sales. Owing to these factors, the demand for anaerobic adhesives from the aerospace sector is expected to rise in the future.
- India is expected to become the global fifth-largest consumer electronics and appliances industry by 2025. Additionally, in India, technology transitions, such as the rollout of 4G/LTE networks and IoT (Internet of Things), are driving the adoption of electronic products. Initiatives, such as 'Digital India' and 'Smart City' projects, raised the demand for IoT in the country.
- India's huge construction sector is expected to become the global third-largest construction market by 2022. Various policies implemented by the Indian government, such as the Smart Cities project, Housing for all by 2022, etc., are expected to bring the needed impetus to the slowing construction industry. For instance, in the Pradhanmantri Awas Yojana, the Indian government has decided to provide interest subvention of 3% and 4% for loans of up to INR 12 lakhs (~USD 14.55 thousand) and INR 9 lakhs (USD 10.92 thousand), respectively, for the lower strata of society concerning buying and building homes.
- Overall, all such factors will affect the demand for anaerobic adhesives in the region over the forecast period.
Anaerobic Adhesives Industry Overview
The global anaerobic adhesives market is semi-consolidated, with various global and domestic players across different regions. However, the top five players in the market control a majority share of the global market. Key players in the anaerobic adhesives market include Henkel AG & Co. KGaA, 3M, H. B. Fuller Company, Kisling AG, and ThreeBond Holdings Co., Ltd, among others ( not in any particular order).
Anaerobic Adhesives Market Leaders
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3M
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Henkel AG & Co. KGaA
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Kisling AG
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H. B. Fuller Company
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ThreeBond Holdings Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Anaerobic Adhesives Market News
- In April 2022, Parson Adhesives India Pvt. Ltd (a business unit of Parson Adhesives, Inc, United States) has planned a manufacturing facility at Vadodara, Gujarat, India, and expand business by 200% in 2022. The planned manufacturing facility is built to meet the increasing demand for adhesives for applications in automotive, renewable energy, oil and gas, electronics, machine manufacturers, and other sectors.
- In March 2021, Krylex (Chemence) opened a new 30,000 sq. ft. R&D facility, the Chemence Center of Excellence in Alpharetta, Georgia, the United States, for synthesizing new materials and formulating new adhesives. The center provides tools and an environment for innovating new and quality products to the market.
Anaerobic Adhesives Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Recovering Automotive Industry
4.1.2 Increasing Demand From The Electrical And Electronics Industries
4.2 Restraints
4.2.1 High Cost Of Anaerobic Adhesives
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products And Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Threadlockers
5.1.2 Thread Sealants
5.1.3 Retaining Compound
5.1.4 Gasket Sealants
5.2 End-user Industry
5.2.1 Automotive and Transportation
5.2.2 Electrical and Electronics
5.2.3 Industrial
5.2.4 Building and Construction
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Anabond Limited
6.4.3 Asec Co., Ltd
6.4.4 H.B. Fuller Company
6.4.5 Henkel AG and Co. KGaA
6.4.6 Hi-Bond Chemicals
6.4.7 Kisling AG
6.4.8 Krylex (Chemence)
6.4.9 Metlok Private Limited
6.4.10 Novachem Corporation ltd
6.4.11 Parson Adhesives, Inc.
6.4.12 Permabond LLC.
6.4.13 ThreeBond Holdings Co., Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Research And Development and Usage of Bio-based Raw Materials
7.2 Growing Prominence in Renewable Energy Market
Anaerobic Adhesives Industry Segmentation
Anaerobic adhesives are adhesives for metal and, occasionally, for plastics and wood, which cure quickly at room temperature. These adhesives are cured only in the absence of air/oxygen. They are considered to be less toxic than other acrylics and have a mild, inoffensive odor. The optimal applications of anaerobic adhesives are relatively limited, while if there is a demand for metal bonding, it is considered one of the key adhesives. The anaerobic adhesives market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into thread lockers, thread sealants, retaining compounds, and gasket sealants. By end-user industry, the market is segmented into automotive and transportation, electrical and electronics, industrial, building and construction, and other end-user industries. The report also covers the market size and forecasts for the anaerobic adhesives market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).
| Product Type | |
| Threadlockers | |
| Thread Sealants | |
| Retaining Compound | |
| Gasket Sealants |
| End-user Industry | |
| Automotive and Transportation | |
| Electrical and Electronics | |
| Industrial | |
| Building and Construction | |
| Other End-user Industries |
| Geography | |||||||
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Anaerobic Adhesives Market Research FAQs
How big is the Anaerobic Adhesives Market?
The Anaerobic Adhesives Market size is expected to reach USD 583.08 million in 2024 and grow at a CAGR of 6.63% to reach USD 803.77 million by 2029.
What is the current Anaerobic Adhesives Market size?
In 2024, the Anaerobic Adhesives Market size is expected to reach USD 583.08 million.
Who are the key players in Anaerobic Adhesives Market?
3M , Henkel AG & Co. KGaA, Kisling AG, H. B. Fuller Company and ThreeBond Holdings Co., Ltd. are the major companies operating in the Anaerobic Adhesives Market.
Which is the fastest growing region in Anaerobic Adhesives Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Anaerobic Adhesives Market?
In 2024, the Asia-Pacific accounts for the largest market share in Anaerobic Adhesives Market.
What years does this Anaerobic Adhesives Market cover, and what was the market size in 2023?
In 2023, the Anaerobic Adhesives Market size was estimated at USD 546.83 million. The report covers the Anaerobic Adhesives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Anaerobic Adhesives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Anaerobic Adhesives Industry Report
Statistics for the 2024 Anaerobic Adhesives market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Anaerobic Adhesives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
