Market Size of singapore adhesives Industry
| Icons | Lable | Value |
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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.
Understand The Key Trends Shaping This Market
