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Singapore Adhesives Market Size

The Singapore adhesives market is experiencing growth driven by its robust manufacturing sectors, particularly in healthcare, packaging, and electronics. The market's expansion is supported by the increasing demand for adhesives in bonding and assembling applications, despite a temporary decline due to the COVID-19 pandemic. The packaging industry, which heavily relies on adhesives for plastics, metals, and paper applications, is a significant contributor to market growth, with waterborne adhesives being particularly popular due to their cost-effectiveness and strong bonding capabilities. Additionally, the healthcare industry in Singapore, known for its advanced medical treatments and regulatory oversight, further fuels the demand for adhesives.

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Market Size of singapore adhesives Industry

Singapore Adhesives Market Summary
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svg icon Study Period 2017 - 2028
svg icon Market Size (2024) USD 410.91 Million
svg icon Market Size (2028) USD 498.91 Million
svg icon Largest Share by End User Industry Packaging
svg icon CAGR (2024 - 2028) 4.97 %
svg icon Fastest Growing by End User Industry Woodworking and Joinery
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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

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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.
Singapore Adhesives Market

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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Singapore Adhesives Market Size Summary

The Singapore adhesives market is poised for steady growth, driven by robust manufacturing capabilities in sectors such as healthcare, packaging, and electronics. The market experienced a downturn in 2020 due to the COVID-19 pandemic, which disrupted trade and supply chains, but has since rebounded. Adhesives play a crucial role in the packaging industry, particularly in bonding materials like plastics, metals, and paper. Waterborne adhesives are particularly popular due to their cost-effectiveness and strong bonding properties, while hot-melt adhesives are emerging as a rapidly growing technology. The demand for adhesives is further bolstered by the expanding e-commerce sector, which necessitates innovative and attractive packaging solutions. The government's push for recyclable plastics in packaging also supports market growth, as plastic remains a dominant material in the packaging sector.

In addition to packaging, the healthcare industry in Singapore is a significant consumer of adhesives, benefiting from the country's advanced medical infrastructure and regulatory framework. The construction sector, although impacted by the pandemic, is expected to recover, with public sector projects driving demand for construction adhesives and sealants. However, residential construction remains subdued due to an oversupply of unsold properties. The market is characterized by fragmentation, with major players like 3M, Arkema Group, AVERY DENNISON CORPORATION, Dow, and Henkel AG & Co. KGaA holding a significant share. Recent product innovations, such as Arkema's bio-based adhesive solutions and Dymax's structural bonding adhesives for electric vehicles, highlight the ongoing advancements in the industry.

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Singapore Adhesives Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Aerospace

      2. 1.1.2 Automotive

      3. 1.1.3 Building and Construction

      4. 1.1.4 Footwear and Leather

      5. 1.1.5 Healthcare

      6. 1.1.6 Packaging

      7. 1.1.7 Woodworking and Joinery

      8. 1.1.8 Other End-user Industries

    2. 1.2 Technology

      1. 1.2.1 Hot Melt

      2. 1.2.2 Reactive

      3. 1.2.3 Solvent-borne

      4. 1.2.4 UV Cured Adhesives

      5. 1.2.5 Water-borne

    3. 1.3 Resin

      1. 1.3.1 Acrylic

      2. 1.3.2 Cyanoacrylate

      3. 1.3.3 Epoxy

      4. 1.3.4 Polyurethane

      5. 1.3.5 Silicone

      6. 1.3.6 VAE/EVA

      7. 1.3.7 Other Resins

Singapore Adhesives Market Size FAQs

The Singapore Adhesives Market size is expected to reach USD 410.91 million in 2024 and grow at a CAGR of 4.97% to reach USD 498.91 million by 2028.

In 2024, the Singapore Adhesives Market size is expected to reach USD 410.91 million.

Singapore Adhesives Market Report Snapshots

Singapore Adhesives Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028