Adhesives and Sealants Market

Adhesives and Sealants Gain Traction Across Industries for Packaging Applications

Every year more than 19 million tons of adhesives and sealants are consumed across various industries such as construction, automotive and transportation, paper and packaging, furniture, footwear, and electronics. The usage of adhesives and sealants in paper and packaging industry stood at 25% in 2018. Booming packaged food industry has also upped the demand exponentially, thereby pushing adhesives and sealants market. With environmental concerns, and sustainability  increasingly becoming a critically important parameter, adhesives and sealants are expected to gain stronger ground along with packaging materials. Manufacturers of consumer goods, and cosmetics and personal care products are likely to accelerate the growth of adhesives and sealants market. Demand for cosmetics and beauty products will continue to soar with every social media influencer dictating a new trend. Internet-savvy Millennial, and Generation-Z will continue to be the frontier of online sales of cosmetics, resulting in steady demand growth for adhesives and sealants for packaging applications. Expansion of beauty and cosmetics industry will thus continue to directly influence the growth outlook of global adhesives and sealants market.

Adhesives and Sealants Market Benefits from Rebound of Construction Projects

The market will also benefit from the rebound of construction projects and changing auto industry dynamics. The building and construction industry has been at the forefront of generating demand for adhesives and sealants, and the rebound in construction activity in Western Europe, and the US will further underpin advances. Unprecedented urbanisation, accelerated industrialisation, and incessant infrastructural developments across the Asian subcontinent. China, India, Brazil, and the key Southeast Asian countries are especially likely to drive the growth of adhesives and sealants market in the region. Remarkable growth of the residential/housing sector also remains a major factor fuelling the promising outlook of adhesives and sealants market in Asia Pacific. There are myriads of applications in construction industry wherein adhesive and sealants are used including concrete, tiles, flooring underlayment, HVAC, drywall lamination, flooring, and roofing, which promise a significant push to the progress of adhesives and sealants market.

The role of the automotive and transportation industry in the growth of adhesives and sealants market has been exceptional as well as adhesives and sealants continue to redefine the evolving objective of auto industry. The boom around lightweight, and fuel-efficient vehicles is all set to bode well for adhesives and sealants market. With more OEMs seeking material alternatives to bond lighter materials such as HSS, magnesium, and aluminium more effectively, adhesives and sealants will continue to be emerging as the ideal material substitutes for traditional fasteners such as screws, bolt, and rivets. Adhesives offer a great platform for body weight reduction and aid in sealing gaps for noise, vibration, and harshness (NVH) reduction in vehicles. Transformation of auto industry is thus projected to favour the growth of adhesives and sealants market.

Asia Pacific Leads the Pack

Asia Pacific was the leading consumer in 2020 and currently accounts for more than 45% of the global demand. China’s 13^th Five-Year Plan gives priority to environmental protection, innovation, and industrialisation with construction and engineering at the forefront. Moreover, construction spending is expected to reach US$ 13 Trillion by 2030 in China. Key policies are being implemented to scale up zero carbon and energy-efficient buildings, this construction boom will certainly spur the demand for adhesives and sealants in the country, fostering the growth of adhesives and sealants market here. Western Europe, and US are matured markets for adhesive and sealants manufacturers.  However, better growth opportunities reside ahead in Russia, Turkey, and Eastern European countries.

New Chemistries, and Versatility at the Forefront

Currently, water-based adhesives are the leading technology segment for adhesives and accounts for more than 50% of global demand. Hot melt adhesives (HMA) are also projected to grow in future, primarily due to surging adoption in packaging, and construction applications. Tapes and labels have experienced immense growth in past few years, and hot melt adhesives are overtaking solvent-borne in this segment as no drying or curing process is required for HMA. Owing its availability in a wide range of chemistries and versatility, reactive adhesives based on epoxies, and urethanes are estimated to be the fastest growing technologies over the coming years. There is a growing trend in consumption of speciality adhesives by aerospace, and automotive industries as manufacturers are switching towards composites, plastics, and other lightweight materials to reduce the overall weight and thereby achieve efficiency.

Regulatory Authorities Keep a Check on New Product Developments

Adhesives and sealant formulations are closely scrutinized owing to the stringent building codes for materials to be used in energy efficient buildings in North America, and Europe. As consumer awareness of environment and health is becoming more prominent, industry regulations are changing more frequently to grow stricter. Manufacturers must ensure their products are compliant with all the concerned registration authorities. LEED and US Green Building Council (USGBC) focuses on Environmental Product Declarations (EPDs) to improve the transparency in the building materials. The entire process of EPDs is very resource-intensive and challenging for those manufacturers with limited financial resources. Consistently rising raw material costs have also forced manufacturers to look for alternatives such as renewable materials; however, achieving the same performance and properties has been the key challenge for the producers in the last few years.

Persistent Innovation, and R&D Key to a Competitive Edge in Adhesives and Sealants Market

Top 10 companies in adhesives and sealants market accounted for just over 50% of the total revenue registered in 2018. Leading companies such 3M, Henkel, Bostik, H.B. Fuller, Sika, and Dow maintain their market positions with cost-focused, and product-based efforts. Companies are investing hugely to new product development, and brand and consumer base building. Henkel has invested over US$150 Mn to build a technology innovation centre in Düsseldorf, Germany. This investment is in line with Henkel’s ambition to offer more innovative and sustainable solutions to the growing adhesives and sealants market.

The Adhesives And Sealants Market Is Segmented As Below:

By Adhesive Product Type

• Water-borne
  • Acrylic
  • Polyvinyl Acetate (PVA) Emulsion
  • Ethylene Vinyl Acetate (EVA) Emulsion
  • Polyurethane Dispersion and CR (Chloroprene Rubber) Latex
  • Other Water-borne Adhesives
• Solvent-borne
  • Chloroprene Rubber
  • Poly Acrylate (PA)
  • Styrenic Block Copolymers
  • Other Solvent-borne Adhesives

By Adhesives Technology

• Reactive
  • Polyurethane
  • Epoxy
  • Cyanoacrylate
  • Modified Acrylic
  • Anaerobic
  • Silicone
  • Other Reactive Adhesives
• Hot Melt
  • Ethylene Vinyl Acetate
  • Styrenic Block Copolymers
  • Thermoplastic Polyurethane
  • Other Hot Melt Adhesives
• Other Adhesive Technologies

By Sealant Product Type

• Silicone
• Polyurethane
• Acrylic
• Polyvinyl Acetate
• Other Sealant Product Types

By End-use Industry

• Building and Construction
• Paper, Board, and Packaging
• Transportation
• Woodworking and Joinery
• Footwear and Leather
• Healthcare
• Electrical and Electronics
• Other End-use Industries

By Region

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa

Key Elements Included In The Study: Global Adhesives and Sealants Market

• Adhesives and Sealants Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value and Volume, 2018 - 2021
• Volume Consumption at Regional and Country Level, 2022 - 2029
• Market Dynamics and Economic Overview
• Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Production Output Analysis (Major Producing Regions)
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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Disclaimer:

• The segmentation/company profiles/countries depicted above may vary in the actual report.