Prepared Glues And Other Prepared Adhesives Market

The global market for prepared glues and other prepared adhesives is expected to continue its growth trend, with forecasts showing an increase in consumption and value by 2030. The consumption of prepared glues and adhesives saw an average annual growth rate of +3.3% from 2012 to 2022, with notable fluctuations in certain years. China leads in consumption with 28% of the total volume. Global production and imports also saw growth, with China being the largest producer and importer. The market value is forecasted to reach $121.5B by 2030. Major exporting countries include China, Germany, and the United States, while major importers include Germany, China, and the United States. Significant differences in average prices are seen among top exporting and importing countries.

Market Forecast

Driven by increasing demand for prepared glues and other prepared adhesives worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 29M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $121.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared Glues And Other Prepared Adhesives

In 2022, global consumption of prepared glues and other prepared adhesives totaled 24M tons, surging by 4.1% on 2021 figures. The total consumption volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the consumption volume increased by 7.5% against the previous year. Over the period under review, global consumption of attained the maximum volume in 2022 and is expected to retain growth in years to come.

The value of the market for prepared glues and other prepared adhesives worldwide expanded slightly to $86.6B in 2022, growing by 1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the global market hit record highs in 2022 and is likely to continue growth in the immediate term.

Consumption By Country

The country with the largest volume of consumption of prepared glues and other prepared adhesives was China (6.7M tons), accounting for 28% of total volume. Moreover, consumption of prepared glues and other prepared adhesives in China exceeded the figures recorded by the second-largest consumer, India (2.6M tons), threefold. The third position in this ranking was taken by the United States (2M tons), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +4.4%. In the other countries, the average annual rates were as follows: India (+5.9% per year) and the United States (-2.5% per year).

In value terms, China ($20.3B), the United States ($13.3B) and Japan ($12.4B) appeared to be the countries with the highest levels of market value in 2022, with a combined 53% share of the global market. India, South Korea, Mexico, Germany, Egypt, Italy, France, Iran, Democratic Republic of the Congo and the UK lagged somewhat behind, together comprising a further 26%.

Germany, with a CAGR of +14.0%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while adhesives for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of prepared glues and other prepared adhesives per capita consumption in 2022 were Italy (25 kg per person), France (16 kg per person) and South Korea (7.8 kg per person).

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +15.7%), while adhesives for the other global leaders experienced more modest paces of growth.

Production

World Production of Prepared Glues And Other Prepared Adhesives

Global production of prepared glues and other prepared adhesives expanded slightly to 23M tons in 2022, rising by 3.5% compared with the previous year. The total output volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 8.2%. Over the period under review, global production of hit record highs in 2022 and is expected to retain growth in the near future.

In value terms, production of prepared glues and other prepared adhesives stood at $85.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $90.1B. From 2020 to 2022, global production of growth remained at a somewhat lower figure.

Production By Country

China (7.4M tons) remains the largest prepared glues and other prepared adhesives producing country worldwide, comprising approx. 32% of total volume. Moreover, production of prepared glues and other prepared adhesives in China exceeded the figures recorded by the second-largest producer, India (2.6M tons), threefold. The third position in this ranking was held by the United States (2.1M tons), with a 9.2% share.

In China, production of prepared glues and other prepared adhesives increased at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+5.7% per year) and the United States (-2.7% per year).

Imports

World Imports of Prepared Glues And Other Prepared Adhesives

For the third consecutive year, the global market recorded growth in purchases abroad of prepared glues and other prepared adhesives, which increased by 3% to 3.6M tons in 2022. The total import volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 14% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of prepared glues and other prepared adhesives stood at $16.3B in 2022. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The purchases of the twelve major importers of prepared glues and other prepared adhesives, namely Germany, China, Myanmar, Russia, Vietnam, France, Poland, the United States, Belgium, Mexico, Canada and the UK, represented more than third of total import. India (69K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +76.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.5B) constitutes the largest market for imported prepared glues and other prepared adhesives worldwide, comprising 15% of global imports. The second position in the ranking was taken by Germany ($962M), with a 5.9% share of global imports. It was followed by Vietnam, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +2.2%. In the other countries, the average annual rates were as follows: Germany (+2.8% per year) and Vietnam (+17.4% per year).

Import Prices By Country

In 2022, the average import price for prepared glues and other prepared adhesives amounted to $4,562 per ton, declining by -1.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 16% against the previous year. Over the period under review, average import prices attained the maximum at $4,635 per ton in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($14,908 per ton), while Myanmar ($222 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared Glues And Other Prepared Adhesives

In 2022, the amount of prepared glues and other prepared adhesives exported worldwide declined slightly to 3.3M tons, approximately mirroring the previous year's figure. The total export volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 14% against the previous year. Over the period under review, the global exports of attained the maximum at 3.3M tons in 2021, and then fell slightly in the following year.

In value terms, exports of prepared glues and other prepared adhesives rose slightly to $15.1B in 2022. The total export value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

In 2022, China (853K tons), distantly followed by Germany (513K tons), the United States (221K tons) and Italy (209K tons) represented the major exporters of prepared glues and other prepared adhesives, together committing 55% of total exports. The Netherlands (130K tons), Belgium (109K tons), Switzerland (100K tons), France (93K tons), Taiwan (Chinese) (85K tons), Turkey (83K tons), Malaysia (73K tons), South Korea (59K tons) and Poland (58K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +9.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.9B), Germany ($2.5B) and the United States ($1.8B) constituted the countries with the highest levels of exports in 2022, with a combined 48% share of global exports. South Korea, Italy, the Netherlands, Taiwan (Chinese), France, Switzerland, Belgium, Poland, Turkey and Malaysia lagged somewhat behind, together comprising a further 29%.

Poland, with a CAGR of +11.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for prepared glues and other prepared adhesives stood at $4,614 per ton in 2022, with an increase of 3.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 12% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($13,504 per ton), while Malaysia ($2,811 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform