Adhesives And Sealants Market
Adhesives & Sealants Market Forecasts to 2028 - Global Analysis By Technology (Solvent-borne, Water-borne, Hot-melts, Reactive), End User (Electronics, Transportation, Healthcare, Building & Construction), and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $72.50 BN |
Projected Year Value (2028) |
US $93.34 BN |
CAGR (2022 - 2028) |
4.3% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Adhesives & Sealants Market is accounted for $72.50 billion in 2022 and is expected to reach $93.34 billion by 2028 growing at a CAGR of 4.3% during the forecast period. An adhesive is a chemical combination that joins two surfaces jointly to form a single unit, whereas a sealant is a partly solid material used to prevent liquid leakage. Even though they both are considered as a single industry, their presentation is different across end users. Instead, it fill up gaps and opposes relative movement of substrates.
The Germany-based Henkel had a revenue of approximately 10.6 billion U.S. dollars from its Adhesive Technologies segment in 2020. Henkel was accordingly ranked as the number one leading adhesives and sealants company worldwide. Adhesives had a total global market value of approximately 43.75 billion U.S. dollars in 2020, while sealants had a market value of just over ten billion U.S. dollars that year. By 2027, it is expected that the market value of adhesives will increase to nearly 65 billion U.S. dollars and sealants will amount to just over 15 billion U.S. dollars.
Market Dynamics:
Driver:
High demand
The growing population and urbanization are boosting the residential construction segment in developing countries. There is a rising demand for everlasting houses in these countries, which, in turn, is growing the demand for adhesives & sealants. There are several applications of adhesives & sealants in the construction industry, such as carpet, tiling, wallpapers, and exterior insulation systems. Adhesives & sealants are used to grasp curtain wall panels and insulating glass units in place.
Restraint:
Environmental regulations in North America and Europe
Europe and North America are severely regulated by environmental laws concerning the production of chemical and petro-based products. Agencies such as the Epoxy Resin Committee (ERC) and the European Commission (EC) rule the manufacturing of solvent-based commodities in these regions. This is disturbing the production capabilities of manufacturers in Europe and North America. The strict environmental regulations are compelling manufacturers to concentrate on producing eco friendly adhesives.
Opportunity:
Rising requirement for non-hazardous and sustainable adhesives
The inflexible set of laws by USEPA (the United States Environmental Protection Association), Europe’s Registration, Evaluation, Authorizations and Restrictions of Chemicals (REACH), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities have bound adhesive & sealant manufacturers to make eco-friendly products. The moves in the direction of more sustainable goods have provided essential growth opportunities for manufacturers. There is a mounting demand for environmentally-friendly or green buildings, which facilitates an opportunity for expansion of green and sustainable adhesive solutions prepared from renewable, recycled, remanufactured, or biodegradable materials.
Threat:
Shifting rules and changing standards
The adhesives & sealants market undergo recurrent alterations in conditions of standards and set of laws. The Construction Products Regulation (CPR) established new regulations for the marketing of construction products. With the new rules, manufacturers have to tolerate the extra burden, in terms of labelling, paperwork, and additional exterior test prices to demonstrate compliance. Supplementary substance alerts focusing on biocides and waste covering occur on a regular basis, leading to changes in regulatory standards. The adhesives & sealants manufacturers have to stand for the rules and changing standards to commercialize their products.
Covid-19 Impact
COVID-19 has posed many challenges for the automotive industry. COVID-19 has posed many challenges in the construction sector. Main economies over the world are among the strictly affected countries by the pandemic. Social distancing measures, supply chain disruptions, and workforce dislocation have led to the suspension of construction activities in most countries due to the disruptions in supply chains and lack of raw materials as well as labour.
The technology segment is expected to be the largest during the forecast period
Technology segment is segmented into Solvent-borne, Water-borne, Hot-melts, Reactive, and Other Technologies. Reactive segment held the largest share in the global adhesives market, in circumstances of volume. Reactive technology based goods propose several advantages and thus are the key aspects following the growth of the segment. These advantages contain high manufacturing speeds due to higher heat resistance, and strong adhesion properties to a wide range of substrates hot-melt segment is anticipated to grow at a profitable speed. The enlarged centre to offer soundproof ride is likely to push the product’s dispersion in the automotive industry during the forecast period.
The end user segment is expected to have the highest CAGR during the forecast period
Building & construction segment is expected as the highest CAGR share of the sealants market during the forecast period. Sealants do not contain high tensile strength like adhesives but consist superior durability and dependability when exposed to conditions of high humidity, chemical attack, or electrical stress. This is qualified to aspects such as growing population and rapid urbanization which in turn has led the building & construction sector to spectator a major increase in demand where adhesives & sealants are used to fill cracks, openings, and seal joints. Building & construction segment is projected to provide numerous opportunities in the industry. Airports, mining facilities, transportation routes & even housing projects are undergoing an enormous alteration in order to fulfil with transitioning standards & specifications.
Region with highest share:
Asia Pacific region has emerged as one of the important producers plus consumers of adhesives & sealants due to the rising domestic demand, increasing income levels, and easy access to resources. The automotive & transportation industry is one of the main consumers of adhesives & sealants in this region. The economic growth in the Asia Pacific region, mainly in the emerging markets, is causative to the boost the numeral of infrastructure projects that is anticipated to boost the demand for adhesives & sealants in the building & construction sector. COVID-19 pandemic formed a sizable crash on the numerous industries such as textile & garments, construction, and automotive, in which export trade was mostly impacted.
Region with highest CAGR:
Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. This is endorsed to boost in demand for adhesive & sealant in building & construction, automotive, packaging, and electrical & electronics in Asia-Pacific. In addition, manufacturers all over the globe find Asia-Pacific region as a good-looking market, owing to cheap labour cost, low cost of setting up manufacturing units, and low cost of adhesive & sealant. These aspects drive the adhesives and sealants market in this region.
Key players in the market
Some of the key players profiled in the Market include Dow DuPont, Adhesive Technologies Corp., 3M, Franklin International, The Reynolds Co., Illinois Tool Works Inc., Sika AG , Mapei Spa, Henkel AG & Co. KGaA, Arkema Group (Bostik SA), Wacker Chemie AG, Pidilite Industries Ltd, H.B. Fuller Company, LORD Corp., American Chemical Inc., Dymax Corporation, Master Bond, Permabond Engineering Adhesives Ltd.
Key Developments:
In February 2020, Henkel has officially inaugurated its new production facility in Kurkumbh, India, near Pune. With a total investment of about USD 57 million, the business unit aims to serve the growing demand of Indian industries for high-performance solutions in adhesives, sealants and surface treatment products. Designed as a smart factory, the new plant enables a wide range of Industry 4.0 operations and meets the highest standards for sustainability.
In November 2020, H.B. Fuller has launched Full-Care 5885 to meet industry’s growing demand for natural-based hygiene articles. This adhesive offers great value by combining high-performance 100% cotton bonding at low cost in use.
Technology Covered:
• Solvent-borne
• Water-borne
• Hot-melts
• Reactive
• Other Technologies
End User Covered:
• Electronics
• Transportation
• Healthcare
• Building & Construction
• Footwear & leather
• Paper, Board, & Packaging
• Woodworking & Joinery
• Other End-users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Adhesives & Sealants Market, By Technology
5.1 Introduction
5.2 Solvent-borne
5.2.1 Polyurethane
5.2.2 Poly Acrylate (PA)
5.2.3 Styrene-butadiene Rubber
5.2.4 Chloroprene Rubber
5.2.5 Other Solvent-bornes
5.3 Water-borne
5.3.1 CR (Chloroprene Rubber) Latex
5.3.2 Polyurethane Dispersions (PU)
5.3.3 Polyvinyl Acetate (PVA) Emulsion
5.3.4 Acrylics
5.3.5 Ethylene Vinyl Acetate (EVA) Emulsion
5.3.6 Other Water-bornes
5.4 Hot-melts
5.4.1 Synthetic Rubbers
5.4.2 Ethylene Vinyl Acetate
5.4.3 Other Hot-melts
5.5 Reactive
5.5.1 Silicone
5.5.2 Anaerobic
5.5.3 Polyurethane
5.5.4 Epoxy
5.5.5 Modified Acrylics & Cyanoacrylates
5.5.6 Other Reactives
5.6 Other Technologies
6 Global Adhesives & Sealants Market, By End-user
6.1 Introduction
6.2 Electronics
6.3 Transportation
6.4 Healthcare
6.5 Building & Construction
6.6 Footwear & leather
6.7 Paper, Board, & Packaging
6.8 Woodworking & Joinery
6.9 Other End-users
6.9.1 Consumer Goods
6.9.2 Textile
7 Global Adhesives & Sealants Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 DowDuPont
9.2 Adhesive Technologies Corp.
9.3 3M
9.4 Franklin International
9.5 The Reynolds Co.
9.6 Illinois Tool Works Inc.
9.7 Sika AG
9.8 Mapei Spa
9.9 Henkel AG & Co. KGaA
9.10 Arkema Group (Bostik SA)
9.11 Wacker Chemie AG
9.12 Pidilite Industries Ltd
9.13 H.B. Fuller Company
9.14 LORD Corp.
9.15 American Chemical Inc.
9.16 Dymax Corporation
9.17 Master Bond
9.18 Permabond Engineering Adhesives Ltd
List of Tables
1 Global Adhesives & Sealants Market Outlook, By Region (2020-2028) (US $MN)
2 Global Adhesives & Sealants Market Outlook, By Technology (2020-2028) (US $MN)
3 Global Adhesives & Sealants Market Outlook, By Solvent-borne (2020-2028) (US $MN)
4 Global Adhesives & Sealants Market Outlook, By Polyurethane (2020-2028) (US $MN)
5 Global Adhesives & Sealants Market Outlook, By Poly Acrylate (PA) (2020-2028) (US $MN)
6 Global Adhesives & Sealants Market Outlook, By Styrene-butadiene Rubber (2020-2028) (US $MN)
7 Global Adhesives & Sealants Market Outlook, By Chloroprene Rubber (2020-2028) (US $MN)
8 Global Adhesives & Sealants Market Outlook, By Other Solvent-bornes (2020-2028) (US $MN)
9 Global Adhesives & Sealants Market Outlook, By Water-borne (2020-2028) (US $MN)
10 Global Adhesives & Sealants Market Outlook, By CR (Chloroprene Rubber) Latex (2020-2028) (US $MN)
11 Global Adhesives & Sealants Market Outlook, By Polyurethane Dispersions (PU) (2020-2028) (US $MN)
12 Global Adhesives & Sealants Market Outlook, By Polyvinyl Acetate (PVA) Emulsion (2020-2028) (US $MN)
13 Global Adhesives & Sealants Market Outlook, By Acrylics (2020-2028) (US $MN)
14 Global Adhesives & Sealants Market Outlook, By Ethylene Vinyl Acetate (EVA) Emulsion (2020-2028) (US $MN)
15 Global Adhesives & Sealants Market Outlook, By Other Water-bornes (2020-2028) (US $MN)
16 Global Adhesives & Sealants Market Outlook, By Hot-melts (2020-2028) (US $MN)
17 Global Adhesives & Sealants Market Outlook, By Synthetic Rubbers (2020-2028) (US $MN)
18 Global Adhesives & Sealants Market Outlook, By Ethylene Vinyl Acetate (2020-2028) (US $MN)
19 Global Adhesives & Sealants Market Outlook, By Other Hot-melts (2020-2028) (US $MN)
20 Global Adhesives & Sealants Market Outlook, By Reactive (2020-2028) (US $MN)
21 Global Adhesives & Sealants Market Outlook, By Silicone (2020-2028) (US $MN)
22 Global Adhesives & Sealants Market Outlook, By Anaerobic (2020-2028) (US $MN)
23 Global Adhesives & Sealants Market Outlook, By Polyurethane (2020-2028) (US $MN)
24 Global Adhesives & Sealants Market Outlook, By Epoxy (2020-2028) (US $MN)
25 Global Adhesives & Sealants Market Outlook, By Modified Acrylics & Cyanoacrylates (2020-2028) (US $MN)
26 Global Adhesives & Sealants Market Outlook, By Other Reactives (2020-2028) (US $MN)
27 Global Adhesives & Sealants Market Outlook, By Other Technologies (2020-2028) (US $MN)
28 Global Adhesives & Sealants Market Outlook, By End-user (2020-2028) (US $MN)
29 Global Adhesives & Sealants Market Outlook, By Electronics (2020-2028) (US $MN)
30 Global Adhesives & Sealants Market Outlook, By Transportation (2020-2028) (US $MN)
31 Global Adhesives & Sealants Market Outlook, By Healthcare (2020-2028) (US $MN)
32 Global Adhesives & Sealants Market Outlook, By Building & Construction (2020-2028) (US $MN)
33 Global Adhesives & Sealants Market Outlook, By Footwear & leather (2020-2028) (US $MN)
34 Global Adhesives & Sealants Market Outlook, By Paper, Board, & Packaging (2020-2028) (US $MN)
35 Global Adhesives & Sealants Market Outlook, By Woodworking & Joinery (2020-2028) (US $MN)
36 Global Adhesives & Sealants Market Outlook, By Other End-users (2020-2028) (US $MN)
37 Global Adhesives & Sealants Market Outlook, By Consumer Goods (2020-2028) (US $MN)
38 Global Adhesives & Sealants Market Outlook, By Textile (2020-2028) (US $MN)
Note North America, Europe, Asia Pacific, South America and Middle East & Africa are represented in above manner.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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