In terms of revenue, the Global Adhesives and Sealants Market is expected to reach USD 87.9 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 6.5% from 2022 to 2028.
The major drivers for the market are increased demand for adhesives in the medical industry, increasing demand for Adhesives and Sealants from the building & construction industry, and growth in the appliances industry.
Key Highlights from Report:
● Among the Technology type, the Reactive & others segment is anticipated to dominate the Adhesives and Sealants Market during the forecast period. Products built on reactive technology have a number of benefits, which makes them the main drivers of the segment's expansion.
These benefits include quick setup times, increased heat resistance, and strong adhesive qualities to a variety of substrates in the hot melt market. Thus, anticipated to drive market growth.
● The Adhesive segment accounted for the largest market share of the Product Type. This segment is expected to do well owing to rising construction activities and investments in infrastructure space.
● Asia Pacific held the largest Adhesives and Sealants Market share and is anticipated to be the most profitable market during the forecast period. This surge is because of increasing domestic demand, rising income levels, and easy access to resources.
In developing nations like China, India, Indonesia, Vietnam, Brazil, and Mexico, the residential construction sector is being driven by urbanization and population growth. In these nations, there is a rising desire for permanent homes, which is, in turn, fueling the market for Adhesives and Sealants. Adhesives and Sealants are used in various construction-related applications, including carpet, tiling, wallpaper, and exterior insulation systems. Curtain wall panels and insulating glass modules are also secured in place using Adhesives and Sealants.
Adhesives and Sealants manufacturers are now required to produce eco-friendly products with no or low VOC levels due to the strict regulations set forth by the USEPA (the United States Environmental Protection Association), Europe's Registration, Evaluation, Authorisation, and Restrictions of Chemicals (REACH), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities.
The trend toward greener products has given firms numerous prospects for expansion. For example, Henkel, a market leader in Adhesives and Sealants, provides products like H4500, H4710, H4720, and H3151 that are solvent-free and compliant with environmental laws. In addition, an opportunity for developing green and sustainable adhesive solutions produced from renewable, recycled, remanufactured, or biodegradable materials has arisen due to the rising demand for ecologically friendly or "green" structures.
Asia Pacific market is anticipated to observe considerable market growth, with the highest growth rate during the forecast period. The market is experiencing a spike in growth due to expanding domestic demand, rising income levels, and simple resource accessibility. One of the most significant users of Adhesives and Sealants in this area is the automobile and transportation sector. In addition, the demand for Adhesives and Sealants in the building and construction industry is anticipated to expand as a result of the economic growth in the Asia Pacific region, particularly in the rising economies such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam.
The Global Adhesives and Sealants Market is segmented as follows:
- Formulating Technology
- Powder Coating
- Oil & Gas
- Automotive & Transportation
- Power Generation
- Other End-User Industries
- Chlorinated Rubber
- Other Types
- Building & Construction
- Automotive & Transportation
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Adhesives and Sealants Market is:
3M Company (U.S.), Ashland Inc. (U.S.), Avery Denison Corporation (U.S.), H B Fuller (U.S.), Henkel AG (Germany), Sika AG (Switzerland), Pidilite Industries (India), Huntsman Corp. (U.S.), Wacker Chemie AG (Germany), RPM International Inc. (U.S.)
The Global Adhesives and Sealants Market Scope can be tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties 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|