Adhesives & Sealants Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

Introduction: -

Adhesives and sealants are sticking agents typically utilized to join or attach two or more surfaces. Adhesives, in particular, are chemical mixtures that are applied to hold, fasten or bind materials or objects. They are known to have very high shear and tensile strength. Sealants refer to semi-solid materials that are predominantly utilized to fill gaps, prevent fluid leakage, and resist the relative movement of substrates. Both adhesives and sealants are manufactured using a combination of similar chemicals and technologies and find applications in a wide range of end-user industries. The global adhesives and sealants market is estimated to expand at a compound annual growth rate (CAGR) of 4.8% during the forecast period of 2022-2030.

 

Growth Drivers:

In both the developed and developing regions across the globe, the number of construction activities has been rising rapidly, mainly due to the growing urbanization and increasing population base worldwide. Along with this, the governments of several regions are increasingly focusing on implementing stringent regulations for mandatorily using eco-friendly products for construction applications. Consequently, the demand and adoption of adhesives and sealants are expected to witness tremendous growth in the construction industry in the forthcoming years, which will bode well for the growth of the global adhesives & sealants market.

Moreover, to achieve a considerable weight reduction in the final products, various end-user industries are seen to be replacing the conventional joining techniques for their products with adhesives. For instance, the automotive industry is increasingly replacing welding activities of engine parts assembly with adhesives and sealants products to decrease the vehicle's overall weight. Similarly, the usage of adhesives and sealants is also increasing in other end-use industries, which is effectively aiding in the growth of the global adhesives & sealants market.

Also, adhesives find tremendous applications in the furniture and footwear industries. In recent years, a wide range of furniture and footwear products have been made available by market players for different applications and different occasions. Also, due to the rising spending capacity of people and the burgeoning penetration of social media influencers, the demand for such products is rising. This is expected to significantly boost the demand for adhesives & sealants in the near future and is expected to bolster the overall market's growth.

Furthermore, the rising expansion of the end-user industries, the proliferating demand for packaged food items and consumer durables, the surging demand for bio-based adhesives, the increasing consumer awareness regarding green construction and eco-friendly buildings, and the growing infrastructural development across the globe are expected to further augment the growth of the global adhesives & sealants market during the forecast period.

 

However, stringent environmental regulations across different countries and the growing concerns regarding the release of several toxic gases at the time of utilization of adhesives & sealants, and regarding the availability and volatility in the cost of raw material for the production of adhesive & sealant products are expected to restrict the growth of the global adhesives & sealants market during the forecast period of 2022-2030.

Adhesives & Sealants Market Segmentation:

By Adhesive Type:

·         Water-based Adhesives

o   Vinyl Acetate

o   Vinyl Acetate Copolymer

o   Acryl Emulsion

o   Others

·         Solvent-based Adhesives

o   Vinyl Acetate

o   Resins

o   Rubber

o   Others

·         Hot Melt Adhesives

o   Ethylene Vinyl Acetate (EVA)

o   Rubber

o   Others

·         Pressure-sensitive Adhesives

o   Acryl

o   Rubber

o   Others

o   Others (Reactive Adhesives, Formaldehyde Adhesives)

 

By Sealant Resin Type:

·         Silicone

·         Polyurethane

·         Acrylic

·         Plastisol

·         Emulsion

·         Polysulfide

·         Butyl

·         Others

 

By Application:

·         Paper & packaging

·         Building & construction

·         Woodworking

·         Consumer & DIY

·         Automotive & transportation

·         Leather & footwear

·         Assembly

·         Medical

·         Electronics

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Adhesives & Sealants Market: Sealant Resin Type Review:

Based on sealant resin type, the global adhesives & sealants market is classified into silicone, polyurethane, acrylic, plastisol, emulsion, polysulfide, butyl, and others. The polyurethane segment is predicted to register the highest growth in the market during the forecast period. The extensive usage of polyurethane sealants in automotive, marine, new construction, and renovation projects due to their advantages of abrasion resistance and better adhesion is the major factor attributed to the large share of the polyurethane segment.

Adhesives & Sealants Market: Adhesive Type Review:

Based on adhesive type, the global adhesives & sealants market is categorized into water-based adhesives, solvent-based adhesives, hot melt adhesives, and pressure-sensitive adhesives. The water-based adhesives captured the largest market share for adhesives in 2021, with estimations of the trend to remain the same throughout the forecast period, predominantly due to the high usage of water-based adhesives due to their eco-friendly attributes and ability to provide enhanced corrosion and water resistance, high bond strength.

Adhesives & Sealants Market: Application Review:

Based on application, the global adhesives & sealants market is segmented into paper & packaging, building & construction, woodworking, consumer & DIY, automotive & transportation, leather & footwear, assembly, medical, electronics, and others. The building & construction segment acquired the largest share for sealants in 2021. The segment is predicted to maintain its lead in the market during the forecast period owing to the increasing infrastructural activities across the globe. However, the paper & packaging segment led the market for adhesives in 2021, and the trend is expected to continue over the forecast period. The high demand for packaging materials from the medical, food and beverage, and e-retail companies and the increasing trend of flexible packaging across the globe are expected to primarily drive the growth of this segment over the forecast period.

 

Regional Outlook:

The adhesives & sealants research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

 

The Asia Pacific region commanded the largest share in the global adhesives & sealants market in 2021, followed by North America and Europe. The region’s dominance is expected to continue over the forecast period of 2022-2030. This can be majorly attributed to factors such as the growing number of infrastructure projects in the region, the high production and consumption of adhesives & sealants in the region, the rapidly expanding automotive and electrical industry in the region, and the presence of world’s leading manufacturers of packaging materials and automotive OEMs in the region. Apart from this, the ever-increasing population base, high economic growth, increasing investments, and growing technological advancements in the region are expected to further contribute to the growth of the adhesives & sealants market in the Asia Pacific region during the forecast period. India, China, Japan are the leading contributors to the growth of the market in the region.

 

The report also identifies the country market outlook for adhesives & sealants, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

 

Key Companies in Adhesives & Sealants Market:

The research report offers a competitive analysis of prominent companies operating in the global adhesives & sealants market. Some of the leading players profiled in the market research report include:

·         Sika AG

·         Pidilite Industries

·         3M Company

·         Arkema

·         Henkel AG

·         H.B. Fuller

·         Illinois Tool Works Inc.

·         Avery Dennison Corporation

·         Wacker Chemie AG

·         RPM International Inc.

·         PPG Industries

·         Other Players