Global Adhesives and Sealants Market- Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2024 - 2030

 Global Adhesives and Sealants Market Size is forecast to reach $108750 Million by 2030, at a 4.60% during forecast period 2024-2030.Major adhesives used in the industry are polyvinyl acetate, ethyl vinyl acetate, polyurethanes, and others. Adhesives and sealants are chemical substances used to attach and seal objects. Adhesive are materials that are used to hold two surfaces together firmly for a long time, while sealants are used to seal the two areas and fill the space between them to provide a protective coating. The growing demand for new consumer products coupled with technological advancement is driving in the global adhesive and sealants market.

🔗  𝑫𝒐𝒘𝒏𝒍𝒐𝒂𝒅  𝑺𝒂𝒎𝒑𝒍𝒆 𝑹𝒆𝒑𝒐𝒓𝒕   

Global Adhesives and Sealants Market COVID-19 Impact

The outbreak of COVID-19 has disrupted many supply chains around the world. This market is the same. In addition, the lack of consumers in the market has had a significant impact on businesses in the second half of 2020. However, certain adhesive products were proven a strong demand for their applications in paper and packaging, and in the healthcare industry. Many public projects of buildings, construction activities, irrigation projects, and industrial projects were suspended since the closure. Also, COVID-19 has brought many challenges to the construction industry. Major economies around the world, such as North America, Europe, and Asia Pacific are among the regions most affected by the pandemic. Measures to disrupt the community, disruption of the supply chain, and removal of workers have led to the suspension of construction projects in many countries due to chain disruptions and a shortage of raw materials. The aforementioned developments during the COVID-19 pandemic have adversely affected the global adhesives and sealants market.

🔗 Schedule a Call 

Report Coverage

The: “Global Adhesives and Sealants Market Report– Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Adhesives and Sealants.

By Formulation: Water-Based, Solvent Based, Hot Melt, Pressure Sensitive Adhesives, UV Curing, and Others.
By Source: Synthetic and Natural.
By Component: One-Component Adhesives, Two-Component Adhesives, and Others.
By Substrate: Ceramic, Metals, Plastic, Wood, Glass, Paper, and Others.
By Product Type: Silicones, Phenolics, Polyamides, Polyvinyl Acetate, Polyurethanes, Acrylics, Epoxies, Polysulfide, Butyl, Polyisobutylene, and Others.
By End-use Industry: Building & Construction [Residential Construction (Independent Homes, Row Homes, Large Apartment Buildings, Others), Commercial Construction (Hospitals & Healthcare Infrastructure, Educational Institutes, Hotels & Restaurants, Banks and Financial Institutions, Airports, Shopping Malls, and Others), Industrial Construction, and Others], Automotive Industry (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), Aerospace & Defence, Marine, Locomotives, Healthcare (Wearable Medical Devices, Diagnosis devices, Surgical Tools, Others), Textile & Apparel Industry (Clothing, Footwear, Others), Packaging Industry (Food Packaging, Beverage Packaging, Personal Care & Cosmetics Packaging, Medical Packaging, Homecare Packaging, and Other Packaging), Electrical & Electronics (Home Appliance Components, Telecommunication Components, Industrial Electronics Components, and Others), Furniture & Woodworking, Power and Energy(Wind Energy, Oil & Gas, Solar, and Others), Leather Industry, Hygiene and personal Care, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).


Key Takeaways

  • The global adhesives and sealants market is expected to grow at a moderate growth rate over the forecasted period. The major factor driving the market demand is the increased use of adhesives in various end-use industries including packaging, and building & construction.
  • The effect of COVID-19 on the end-use industries has affected the adhesives and sealants market optimistically. Also, increased concerns for health coupled with the delicacy of handling the product has lagged the market in manufacturing plants.
  • The global adhesives and sealants market is fragmented at the global level with small scale companies entering the market. The increased number of participants in the industry has positively affected the market value over a period of time. Major players have been competent enough with key strategies adopted to have a better market share at the global level


Global Adhesives and Sealants Market Segment Analysis – By Product Type

Silicone held the largest share in the global adhesives and sealants market in 2021 and is expected to grow at a CAGR of 4.2% during the forecast period. Silicone is the most widely used for its multiple functions including glueing, and protective coating. Silicone is an important component in the majority of adhesives and sealants they offer benefits such as temperature resistance, oil & chemical resistance, flexibility, excellent binding properties, water resistance, and strength. The widespread use of silicone is majorly by the construction industry and is expected to grow further in the forecast period due to global infrastructure development. In add-on, polyurethane has a significant share in the global adhesives and sealants market. Both polyurethane and sealants are categorized under elastomeric materials and are used to fill gaps and keep water and air out. However, both sealants and adhesives have different longevity and chemical properties leading to fit in different applications. Polyurethane sealant is used in industries, such as the automotive industry due to its unique properties moisture resistance and rapid drying.

Global Adhesives and Sealants Market Segment Analysis – By End-use Industry

The building & construction segment held a share of around 35% in the global adhesives and sealants market in 2021 and is expected to grow at a CAGR of 4.1% during the forecast period. The building and construction sector has the largest share in the market. The segment is in the growth phase and continues to report significant gains in revenue owing to the high demand for building materials, thereby increasing the demand for sealants and furthering market growth over the years. Adhesives are found to be applicable to floors, walls, ceilings, glitter, and windows resulting in the continuous expansion of adhesive and sealants consumption in the building and construction industry. Other major applications include the automotive industry and locomotives. According to The International Association of Public Transport, the global light rail transit was around 236.4 Kilometers in 2016 and has increased to 311 kilometers in 2018. The data depicts the increased urban infrastructure development across the globe leading higher volume of adhesives and sealants consumption. Also, Demand in the automotive and transportation sector is expected to grow exponentially leading to increased demand for adhesive and sealant products in the forecasted period.

Global Adhesives and Sealants Market Segment Analysis – By Geography

Asia Pacific has dominated the market in terms of volume and revenue by 2021. In terms of revenue, the region held the largest share of more than 38% in the global adhesives and sealants market in 2021, owing to fast-growing end-use industries in recent years. Currently, Asia Pacific is the largest market and is expected to capture the market better further in the forecasted time due to the growing demand for the building and construction, packaging and automotive industries. The market in this region is driven by factors, such as rising population and rising costs in the industrial sector. The increase in population increases the demand for cars, leading to higher demand for adhesive and sealant products in the automotive industry. According to the International Organization of Motor Vehicle Manufacturers, in 2017, the total number of automotive vehicles produced in India is valued to be 47.81 million units and has increased to 51.21 million units in 2018. The increased production of automotives in the country is one of the major factors driving adhesives and sealants market growth in the region. Furthermore, North America adhesive and sealants market is growing due to the high preference for paper packaging coupled with the change in consumer behavior in preferring recycled products have benefited North America adhesives and sealants market. 

Global Adhesives and Sealants Market Drivers

Increased demand from Packaging Industry

Increased demand for adhesives and sealants in the packaging industry is expected to drive market growth in the forecasted period.

The increased use of packaging materials in various end-use industries including stationeries, Jewellery boxes, shopping bags, and cartons is the major driving force for adhesives and sealant products. According to the food and agricultural organization (FAO), the shipment value of the packaging industry in Japan was around US4 49.85 Billion in 2018 and has increased to US$ 50.66 Billion in 2019. Japan being one of the major countries exporting packaging has influenced the global adhesives and sealants market. Also, according to FAO, the total production volume of paper and paperboards for the packaging industry of India has accounted for 15.43 million metric tons in 2015 and has drastically increased to 17.28 million metric tons in 2020. The data implied expanding demand for paper and paperboards in the packaging industry leading to the need for adhesives and sealant products to glue and seal the packages. The aforementioned developments in the packaging industry is expected to drive the global adhesives and sealants market in the foreseen period.

 Increased Spending in Building & Construction Industry

The building & construction industry is one of the major consumers of adhesives and sealant products. Building & construction spending includes construction projects in commercial real estate including both residential and commercial with infrastructure and industrial buildings.

Population growth and urbanization drive part of the construction of buildings & infrastructure in developing countries such as Vietnam, India, China, Indonesia, Brazil, and Mexico. Moreover, there is also an increasing demand for housing in developing economies, which also contributes to the consumption of adhesives and sealants. The construction industry has grown at a considerate pace before the coronavirus pandemic and is expected to grow at a decent growth. According to world bank data, the total construction industry spending worldwide has accounted for around US$ 11.5 trillion in 2018 and has increased to US4 12.01 trillion in 2019 with a growth rate of 4.4% from 2018 to 2019. Hence increased spending in the building and construction industry will accelerate the market value for adhesives and sealant products in the forecasted period.

Global Adhesives and Sealants Market Challenges

Health Hazards of Adhesives Products

According to the National Library of Medicine, inhaling adhesives and sealants during production and final use can result in, confusion, inconsistent speech aggressive behaviour, hallucinations, vomiting, mood swings, darkness, and difficulty breathing. They can also cause the heart to beat faster and can lead to heart attacks. Additionally, according to the National Library of Medicine since 1993, about 0.17 percent of all unnatural deaths in the United States are considered to be associated with a variety of chemical odors including adhesive glue. In add-on, the production of adhesive products emits large amounts of chemical gases, which are fatal when inhaled. Therefore, the regulations imposed on their use are very strict. In addition, growing employee awareness of health and the environment has become a major problem for producers. The above factors related to the health risks of adhesive products are expected to restrain the global adhesives and sealants market in the predicted period.

Global Adhesives and Sealants Market Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Global Adhesives and Sealants Market. Global Adhesives and Sealants Market top 10 companies are:

  1. Henkel AG
  2. H.B. Fuller
  3. Sika AG
  4. Arkema SA
  5. 3M Company
  6. Huntsman Corporation
  7. Illinois Tool Works Inc.
  8. Avery Dennison Corporation
  9. GE Sealants and Adhesives
  10. Wacker Chemie AG

Recent Developments

  • In November 2020, H.B. Fuller has launched its new product named Full-Care 5885 adhesive. The product offers a better bonding with a competitive price advantage in the industry.
  • In February 2020, Henkel AG has inaugurated its new production facility in India. The company has invested USD 57 million, for the faculty intending to cater to demand from Indian infrastructure development companies and the packaging industry.
  • In January 2020, GE Sealants & Adhesives has launched its product portfolio with nine products of Siliconized Acrylic Latex sealants. The products are designed for house rejuvenation and repair work of infrastructure projects.

Key Market Players:

The Top 5 companies in the Global Adhesives and Sealants Market are:

  1. Henkel
  2. 3M
  3. HB Fuller
  4. Arkema (Bostik)
  5. sika
Location: United States

Comments

Post a Comment

Popular posts from this blog

Power Transformer Market - By Rating , By Cooling Type , By Phase Configuration , By Technology , By Insulation Type , By Application, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Image
  Power Transformer Market Overview Power Transformer market size is  forecast to reach US$36.9 billion by 2030,  after growing at a  CAGR of 5.9% during 2024-2030.  The global power transformer market is experiencing significant growth, driven by increasing electricity demand, grid modernization, renewable energy integration, energy efficiency initiatives, and urbanization. Green power transformers, with their enhanced energy efficiency, reduced environmental impact, and improved safety features, are emerging as a key segment in the market. Major players like Hitachi Energy and Toshiba are investing heavily to expand their production capacities and meet the growing demand for these sustainable solutions. A major trend in the market is global focus on energy efficiency. The global shift towards sustainable energy practices has significantly impacted the power transformer market. The need for energy-efficient power transformers is being driven by utilities and in...
Read more

Freight Forwarding Market- By Service Type , By Delivery Mode , By Application and By Geography - Opportunity Analysis & Industry Forecast, 2024-2030.

Image
Freight Forwarding Market Overview: The Freight Forwarding Market size is estimated  to reach $14.5 Billion by 2030 , growing at a  CAGR of 6.1% during the forecast period 2024-2030.  The freight forwarding market is driven by globalization, the rise of e-commerce and the increasing demand for faster, more efficient delivery solutions. The growth of international trade fueled by both emerging markets and established economies, logistics digitization and the shift towards supply chain diversification are also contributing to the market’s expansion. The freight forwarding market will continue to evolve with a focus on smart logistics, last-mile delivery solutions and data-driven decision-making. Companies will likely invest heavily in automation, robotics, and  blockchain  technology to improve transparency, reduce fraud and enhance operational efficiency. Meanwhile, as the demand for on-demand and just-in-time delivery grows, real-time shipment tracking, contact...
Read more

Accounts Payable Automation Market - Forecast(2025 - 2031)

Image
  Accounts Payable Automation Market Overview: The  Accounts Payable Automation Market size is estimated to reach $17.4 Billion by 2031, growing at a CAGR of 14.0% during the forecast period 2025-2031.  The accounts payable automation market is driven by the increasing demand for operational efficiency, cost reduction, and improved accuracy in financial processes. Businesses are increasingly adopting cloud-based solutions, AI, and machine learning technologies to streamline invoice processing, reduce human errors, and ensure faster payment cycles. Additionally, the need for enhanced compliance, real-time data analytics, and seamless integration with ERP systems is further fueling market growth across industries. By replacing outdated manual processes with intelligent automation, companies are reducing errors, accelerating payment cycles, and achieving greater cost savings. A significant trend in is the cross-border payments automation , aimed at simplifying international...
Read more