Adhesives and Sealants Market
Adhesives and Sealants Market - Global Industry Assessment & Forecast
- By Product Type Adhesives, Sealants
- By Applications Paper Board & Packaging, Building & Construction, Woodworking & Joinery, Transportation, Footwear & Leather, Medical, Other Applications
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||USD 63.1 Billion|
|Revenue 2028:||USD 87.9 Billion|
|Revenue CAGR (2021 - 2028):||5.7%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Global Adhesives and Sealants Market is valued at USD 63.1 Billion in 2021 and is projected to reach a value of USD 87.9 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.7% over the forecast period.
The growing need for lightweight, low-carbon-emitting automobiles is the main factor driving the Adhesives and Sealants Market. The demand for lightweight, fuel-efficient, low-emission passenger cars has led to an increase in sales of high-performance adhesives across the whole global automotive industry. One of the key elements driving up demand for Adhesives and Sealants is the widespread availability of modern manufacturing capacity, along with the abundance of natural resources and a sizable consumer base. The market for Adhesives and Sealants has expanded as a result of increased personal disposable income and consumer ability to spend money on recreational products. The market for Adhesives and Sealants has unquestionably soared considerably as a result of the government's support. The rise in consumer purchasing power and an accompanying increase in demand for electronic devices have undoubtedly fueled the market's growth.
Adhesives and Sealants Market Size, 2021 To 2028 (USD Billion)
Adhesives and Sealants are frequently used to holes, patch gaps, and seal joints in the building and construction business, which has seen significant expansion due to causes including urbanization, population growth, and increased government investment.
Additionally, over the anticipated time, adhesives will be widely used in the disposable medical device industry, leading to improved processing and technology. However, producing Adhesives and Sealants releases volatile organic compounds (VOC), which can lead to several health issues, including exhaustion, vertigo, conjunctivitis, shortness of breath, and other skin issues which may hamper the market growth.
Top Market Trends:
● The Global Adhesives and Sealants Market is characterized by the presence of medium and large producers, which have local as well as international players.
● In 2021, the Adhesive segment will hold the largest market share of 54%.
● In 2021, the building & construction application holds the largest share of 42% in the market.
● Industry participants that are active in the market are aware of the product's potential for future growth. To solidify their dominance, they keep working to innovate and introduce products to the market.
The Adhesives and Sealants Market is segmented based on Product Type, Application, and Region. Based on the Product Type, the market is further segmented into Adhesives and Sealants. Furthermore, based on the Applications, the market is further segmented into Paper Board & Packaging, Building & Construction, Woodworking & Joinery, Transportation, Footwear & Leather, Medical, And Other Applications.
Below tree is interactive. You can click the nodes to get more information.
Based on Application:
Building & Construction category dominated the market in 2021
The Building & Construction category dominated the market in 2021. This market is expanding and consistently reporting significant revenue increases. As a result, there is a growing demand for building materials, which raises the demand for sealants and, in turn, propels market expansion. Sealants are used in a variety of places, including flooring, ceilings, glazing, walls, and windows; as a result, the market will rise as the building and construction sector develops. Rapid technological and architectural innovation is occurring in this area of the Adhesives and Sealants Market. Airports, transportation routes, mining operations, and even residential developments are going through significant changes to meet evolving norms and requirements. Furthermore, automotive & transportation, consumer, and other applications are among the other important ones. A rise in the need for lightweight, efficient, and environmentally friendly cars is predicted to drive rapid growth in the demand for Adhesives and Sealants in the automotive and transportation sector.
Based on Product Type:
Adhesives category dominated the market in 2021
The Adhesives segment dominated the market in 2021. Chemical compounds known as adhesives are used to unite two surfaces to create a single object. Adhesives are made from artificial materials and inventions and have related uses. Manufacturers are compelled to produce adhesive solutions made of biodegradable, recyclable, and renewable materials on a larger scale, which is assisting the growth of the adhesives sector. The demand for green buildings is rising, and eco-friendly adhesives are being developed in response to strict environmental regulations. Due to the extensive need for Adhesives and Sealants in the construction sector, adhesives are employed as an alternative to connecting materials. Due to the product's rising demand for industrial packaging and bottling applications, it is also environmentally friendly because it comprises water rather than solvents. Depending on the materials utilized, such as cotton, leather, and recycled padding, the type of glue used in the creation of footwear will vary. The growth of the footwear industry should be aided by a rise in social media usage and urban populations' rising purchasing power.
Based on Regional Analysis:
Asia Pacific had the Largest Share of the market in 2021
In 2021, the Asia Pacific had the largest share in the Adhesives and Sealants Market. This is attributed to a surge in demand for Adhesives and Sealants in several industries, including the automotive, electrical & electronics, packaging, building & construction, and others. Due to cheap labor rates, low startup costs for manufacturing facilities, and inexpensive prices for Adhesives and Sealants, Asia-Pacific is also a desirable market for producers worldwide. These factors increase the need for Adhesives and Sealants in this region. Under stringent environmental rules, manufacturers must concentrate on producing environmentally friendly adhesives. The automotive and transportation industries are among the main consumers of Adhesives and Sealants in this field. The region has historically led the way in infrastructure development, and the projected period is likely to see an increase in funding for building operations, driving the market. As a result, these market trends are anticipated to substantially impact the expansion of the Adhesives and Sealants Market in the region.
● In June 2021, Henkel created Loctite EA 9365FST, a structural adhesive for aircraft interiors that complies with REACH. A brand-new two-part epoxy adhesive called Loctite EA 9365FST is used to connect and strengthen thermoplastic and thermoset substrates. As a matrix resin, it can be applied to fiberglass to thicken the thin walls of thermoplastic components.
● In March 2021, Sika acquired the flooring adhesives division of DriTac. A company based in the US that specializes in gluing wood floors is called DriTac. The acquisition will enable Sika to increase its presence among distributors and installers of floor coverings and hasten its expansion in the U.S. interior finishing market.
● In January 2021, Gabriel Performance Products (Gabriel), a North American provider of specialized additives and epoxy curing agents for coatings, adhesives, sealants, and composite end-markets, was acquired by Huntsman Corporation from Audax Private Equity.
● In November 2020, in order to meet the industry's rising demand for natural-based hygiene products, H.B. Fuller introduced Full-Care 5885. By combining high-performance 100% cotton bonding with affordable use costs, this glue provides excellent value.
The key players in the Global Adhesives and Sealants Market include- Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, 3M Company, Uniseal Inc. and others.
Segmentation of the Global Adhesives and Sealants Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Adhesives and Sealants in terms of revenue?
The global Adhesives and Sealants valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 5.7%.
Which are the prominent players in the market?
The prominent players in the market are Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, 3M Company, Uniseal Inc..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.7% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Adhesives and Sealants include
- Increased demand for adhesives in medical industry
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Adhesives and Sealants in 2020.