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The Japan adhesives market is expected to grow at a CAGR of 5.07%, from an initial value of US$1,792.396 million in 2021, and is estimated to reach a market size of US$2,533.344 million in 2028.
Adhesives, besides bonding surfaces & substrates, are also used to keep moisture, dirt as well as other environmental contaminants away from them, owing to which they have high applicability in construction, consumer appliances, and automotive among others. Japan is experiencing a significant increase in its housing construction owing to favorable investment inflows coupled with growing demand for residential units. According to the 2021 statistical survey by Japan’s Ministry of Land, Infrastructure, Transport, and Tourism, new housing starts in the country stood at 865,909 units which represented an increase of 6.6% from 2020. Adhesives are used in construction activities for bonding structural parts such as construction panels, ceramic tiles, and structural glasses. Also, the usage of adhesives in cement acts as a primer and provides better bonding as well as water & corrosion resistance. With the growing housing construction, the demand and usage of adhesives are also expected to increase in Japan.
Government and private efforts to expand the development of this market has acted as a boost to the Japan adhesive market.
With the growing construction activities in Japan, the market is said to witness growth as the construction industry frequently opts for acrylic adhesives as their bonding methods owing to their high durability and performance. In 2021, Japan government made plans on investing US$708 million in their economic recovery, where the investment will be used efficiently for the development of digital technology as well as public infrastructure.
An increase in production boosted the demand for adhesives in the automotive sector
Adhesives such as polyurethane and epoxy owing to their high temperature and corrosion resistance and rich bonding nature are used in the automotive sector for dashboards, bumper, headlights, spoilers, and tailgate bonding. The growing industrial productivity in Japan has boosted the demand for light as well as heavy commercial vehicles thereby increasing their overall production output. For instance, according to the International Organization of Motor Vehicles Manufacturers, in 2021, Japan’s light commercial vehicle production grew by 2% and heavy commercial vehicles by 28% in comparison to 2020’s production scale. Further, adhesive consumption by the automotive sector stood at 2,435 tonnes in 2021 representing an 11% increase in consumption. Such an increase in adhesive consumption is expected to provide a positive outlook to the market demand for adhesives in Japan’s automotive sector which will propel the overall market growth during the forecast period.
Recent Launches in the market
In September 2020, Arkema’s subsidiary Bostik established its new industrial adhesive plant in Japan which included the production of adhesives that would serve customers in electronics, packaging, labeling, and transportation markets in the country. Furthermore, in September 2020, Tokyochem Co. Ltd launched its new series of biodegradable polyurethane adhesives for the construction, packaging, and agriculture market.
Sika had agreed to acquire Hamatite, The Yokohama Rubber Co., Ltd.'s adhesives business, in April 2021. In Japan, Hamatite is the industry leader in adhesives and sealants for the automotive and construction industries.
By technology, water-based adhesives are poised to grow throughout the forecast period.
Based on technology, the Japan Adhesives market is segmented into water-based, solvent-based, hot-melt, reactive and others. Water-based adhesives are poised to grow throughout the predicted period owing to their non-toxic and environment-safe characteristics, which makes them particularly suitable for packaging purposes in the FMCG industry as they do not contaminate the products inside.
The consumer appliances adhesive market is expected to hold a significant market owing to multiple applications of adhesive in building and construction, such as waterproofing, weather sealing, crack sealing, and joint sealing. Based on application, the Japan adhesives market is segmented into packaging, construction, consumer appliances, leather, laminates, automobile, and others. Construction adhesives are also designed to be long-lasting and easy to apply to a variety of surfaces. The Japanese government stresses construction quality and supports long-term growth, which will likely enhance demand for sealants throughout the forecast period.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Companies |
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