Adhesives & Sealants Market Size
| Study Period | 2017-2027 |
| Base Year For Estimation | 2021 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adhesives & Sealants Market Analysis
The global Adhesives and Sealants market is expected to reach around USD 64 billion by the end of this year and is projected to register a CAGR of more than 6% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is estimated to have reached pre-pandemic levels and is expected to grow steadily.
- Expanding packaging and building and construction industries around the globe are likely to drive demand for adhesives and sealants during the forecast period.
- However, strict environmental regulations set by the government on the use of volatile organic compounds are anticipated to hamper market expansion.
- Furthermore, increasing awareness of renewable and eco-friendly products is projected to generate opportunities in the adhesives and sealants market in the coming years.
Adhesives & Sealants Market Trends
Rising Packaging Industry
- The packaging segment is the largest consumer of the adhesives and sealants market. Packaging is witnessing strong demand from end-user industries, such as food and beverages, cosmetics, consumer goods, stationery, etc.
- The current rise in oil costs favored paperboard over plastics, finally giving paperboard an advantage, plateauing at 41% of the worldwide packaging sales for a decade, even as plastics' share increased by 5% to 37% during the same period.
- According to CEPI, the total production of paper and board in the CEPI member countries of the European Union was 90,583 kilotons, registering a growth rate of 6.1% as compared to 85,349 kilotons of production in the year 2020. From the total production of paper and board, packaging paper and board accounted for 53,545 kilotons of production in the year 2021.
- Furthermore, the total consumption of paper and board by the Cepi member countries in the year 2021 was 75,219 kilotons compared to 71,108 kilotons in the year 2020 hence registering a growth rate of 5.8%.
- Online retail shopping is increasing at a higher rate with the rising internet technologies and web applications, which have primarily supported the packaging industry's growth.
- Moreover, the demand for cosmetics and food and beverage products is expected to grow due to the growing population and demand for quality products, urbanization, and consumers inclining toward technology, fueling the need for the packaging industry.
- Hence, with such robust global packaging industry growth, the demand in the adhesives and sealants market is also expected to increase during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market. The increasing demand from industries such as packaging, construction, automotive, healthcare, etc., in the countries such as China, India, and Japan is driving the market.
- China's growth is fueled mainly by rapid expansion in the residential and commercial building sectors and the country's expanding economy. China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030. As a result, increased building activity in nations like China is projected to fuel the region's adhesive industry. All such factors tend to increase the demand for adhesives across the region.
- Industries such as food and beverage, cosmetics, and consumer goods are continuously innovating new products, increasing production, and resorting to attractive packaging materials to attract customers. For example, in India, the packaging category is the highest end-user category, holding about 67% of total adhesive users.
- Furthermore, several countries in the region are putting efforts to enhance the Automotive sector by investing heavily in electric cars to achieve net zero emissions. For example, in Japan, over 8,600 of the 20,000 new EVs delivered in 2021 were imported electric vehicles. Compared to the previous year, the number of foreign automobile registrations of newly imported EVs increased nearly thrice.
- Construction activities are growing in the region with the lockdown measure eased up. The area is always at the forefront of infrastructure development and is expected to witness growth in funding for construction activities in the forecast period hence driving the market.
- Furthermore, South Korean builders' overseas building orders have surpassed 30 billion US dollars for the third consecutive year in 2022, owing to strong demand from Asia, North American and Pacific Ocean regions.
- Hence, such market trends are expected to significantly impact the growth of the adhesives and sealants market in the region during the forecast period.
Adhesives & Sealants Industry Overview
The global adhesives and sealants market is fragmented in nature. Some of the major players in the market include Henkel AG & Co. KGaA, 3M, H.B. Fuller Company., Arkema, and Sika AG, among other companies (in no particular order).
Adhesives & Sealants Market Leaders
3M
Henkel AG & Co. KGaA
Sika AG
Arkema
H.B. Fuller Company
*Disclaimer: Major Players sorted in no particular order
Adhesives & Sealants Market News
- September 2022: Henkel AG & Co. KGaA expanded its production facility in Brandon, South Dakota, to manufacture thermal interface material adhesives. These adhesives are used in the electronics and automotive industry and sold under Loctite and Bergquist.
- January 2022: Bostik, the adhesive solution company of Arkema, signed an agreement with DGE Group, a specialty chemicals distributor, to distribute its products in Europe, the Middle East, and Africa. This agreement includes Born2Bond engineering adhesives designed for automotive, electronics, luxury packaging applications, and several others for by-the-dot applications.
Adhesives & Sealants Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Report
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Expanding Building and Construction Sector
4.1.2 Increasing Demand from the Packaging Industry
4.2 Restraints
4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume and Value)
5.1 Adhesives Resin
5.1.1 Polyurethane
5.1.2 Epoxy
5.1.3 Acrylic
5.1.4 Silicone
5.1.5 Cyanoacrylate
5.1.6 VAE/EVA
5.1.7 Other Resins
5.2 Adhesives Technology
5.2.1 Solvent-borne
5.2.2 Reactive
5.2.3 Hot Melt
5.2.4 UV-Cured Adhesives
5.3 Sealant Resin
5.3.1 Silicone
5.3.2 Polyurethane
5.3.3 Acrylic
5.3.4 Epoxy
5.3.5 Other Resins
5.4 End-User Industry
5.4.1 Aerospace
5.4.2 Automotive
5.4.3 Building and Construction
5.4.4 Footwear and Leather
5.4.5 Healthcare
5.4.6 Packaging
5.4.7 Woodwork and Joinery
5.4.8 Other End-user Industries
5.5 Geography
5.5.1 Asia-Pacific
5.5.1.1 China
5.5.1.2 India
5.5.1.3 Japan
5.5.1.4 South Korea
5.5.1.5 Thailand
5.5.1.6 Indonesia
5.5.1.7 Malaysia
5.5.1.8 Singapore
5.5.1.9 Australia
5.5.1.10 Rest of Asia-Pacific
5.5.2 North America
5.5.2.1 United States
5.5.2.2 Canada
5.5.2.3 Mexico
5.5.2.4 Rest of North America
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 France
5.5.3.3 United Kingdom
5.5.3.4 Italy
5.5.3.5 Spain
5.5.3.6 Russia
5.5.3.7 Rest of Europe
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle East and Africa
5.5.5.1 Saudi Arabia
5.5.5.2 South Africa
5.5.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel N.V.
6.4.2 3M
6.4.3 Aica Kogyo Co..Ltd.
6.4.4 Arkema Group
6.4.5 AVERY DENNISON CORPORATION
6.4.6 Dow
6.4.7 DuPont
6.4.8 H.B. Fuller Company
6.4.9 Henkel AG & Co. KGaA
6.4.10 Huntsman International LLC
6.4.11 Illinois Tool Works Inc.
6.4.12 MAPEI S.p.A.
6.4.13 NANPAO RESINS CHEMICAL GROUP
6.4.14 Pidilite Industries Ltd.
6.4.15 Sika AG
6.4.16 Soudal Holding N.V.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing awareness of renewable and eco-friendly products
Adhesives & Sealants Industry Segmentation
Adhesives are made from a combination of resins, additives, and solvents. The composition of the resins and additives entirely depends on the end use to which they are put. Adhesive resin types, adhesive technology, sealant resin type, end-user industry, and geography segment the adhesives and sealants market. By adhesive resin, the market is segmented into polyurethane, epoxy, acrylic, silicone, cyanoacrylate, VAE/EVA, and other resin. The market is segmented by adhesive technology into solvent-borne, reactive, hot melt, and UV-cured technologies. By sealant resin type, the market is segmented into silicone, polyurethane, acrylic, epoxy, and other sealant resin types. By end-user industry, the market is segmented into aerospace, automotive, building and construction, footwear and leather, healthcare, packaging, woodworking and joinery, and other end-user industries. The report also covers the market size and forecasts for adhesives and sealants in 22 countries across major regions. The market sizing and forecasts for each segment are based on volume (kiloton) and revenue (USD million).
| Adhesives Resin | |
| Polyurethane | |
| Epoxy | |
| Acrylic | |
| Silicone | |
| Cyanoacrylate | |
| VAE/EVA | |
| Other Resins |
| Adhesives Technology | |
| Solvent-borne | |
| Reactive | |
| Hot Melt | |
| UV-Cured Adhesives |
| Sealant Resin | |
| Silicone | |
| Polyurethane | |
| Acrylic | |
| Epoxy | |
| Other Resins |
| End-User Industry | |
| Aerospace | |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodwork and Joinery | |
| Other End-user Industries |
| Geography | ||||||||||||
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Adhesives & Sealants Market Research FAQs
What is the study period of this market?
The Adhesives and Sealants Market is studied from 2017 - 2027.
What is the growth rate of Adhesives and Sealants Market?
The Adhesives and Sealants Market is growing at a CAGR of >6% over the next 5 years.
Which region has highest growth rate in Adhesives and Sealants Market?
Asia Pacific is growing at the highest CAGR over 2017-2027.
Which region has largest share in Adhesives and Sealants Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Adhesives and Sealants Market?
3M, Henkel AG & Co. KGaA, Sika AG, Arkema, H.B. Fuller Company are the major companies operating in Adhesives and Sealants Market.
Adhesives & Sealants Industry Report
Statistics for the 2023 Adhesives and Sealants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Adhesives and Sealants analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
