The specialty adhesives market comprises adhesives used in specialized applications in industries such as medical devices, automotive, aerospace, electronics, and others. Specialty adhesives provide excellent adhesion along with chemical and thermal resistance, making them suitable for critical applications. They offer superior bonding over standard adhesives and help improve product durability. There is an increasing demand for specialty adhesives from the medical devices industry for applications such as assembly of surgical and medical equipment, bonding wound care products, attaching catheters and tubing sets, and manufacturing orthopedic devices.

The global specialty adhesives market is estimated to be valued at US$ 4.56 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the specialty adhesives market are PerkinElmer, Cardinal Health, Lantheus Medical Imaging, Bracco Imaging, NTP Radioisotopes, JSC Isotope, ANSTO, Nordion, Curium Pharma, and IRE. These players are focusing on new product development and expansion strategies to strengthen their market position.

There is a high growth potential for specialty adhesives in the medical devices industry owing to the increasing demand for minimally invasive surgeries and wearable medical devices. The rising geriatric population globally is another key growth driver.

The key players are expanding their Specialty Adhesives Market Demand portfolio and presence globally, especially in emerging markets of Asia Pacific and Latin America, to capitalize on the high growth opportunities. Regions with developing healthcare infrastructure and increasing medical expenditure offer lucrative prospects.

Market Drivers
Increasing demand from the medical devices industry: Specialty adhesives find wide usage in assembly, bonding, and manufacturing processes of various medical devices. The rising number of surgeries and growing medical devices market drives their demand.

Growing elderly population: The global geriatric population prone to various diseases and injuries is surging, augmenting the need for improved healthcare services and medical products that incorporate specialty adhesives.

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