Adhesives & Sealants Market - Forecast(2024 - 2030)

Report Code: CMR 89705 Report Format: PDF + Excel

Adhesives & Sealants Market Overview

Global Adhesives & Sealants market size is estimated to reach US$ 89.1 billion by 2027, after growing at a CAGR of 5.7% during the forecast period 2022-2027. Adhesives and sealants are the chemical products which are used to create a mechanical seal between components. Adhesives are the non-metallic materials used to hold two substances together, while sealants are material used to fill space between these substances and to provide a protective coating. Adhesives are of various types like polyurethane adhesives, cyanoacrylate adhesive and epoxy adhesives, while sealants consist of resin like silicon, acrylic and butyl. These materials are chemically made with the help of rheology modifiers which are used to improve their viscosity. Adhesives and sealants have high applicability in sectors like construction, automotive, paper, textile, electronics and wood. Their major applicability is in construction sector where adhesives are used in polycarboxylate for concrete production. Factors like growing construction activities, increase in production volume of automotive, increase in aircraft production and high consumption of clothing & apparel items are driving the growth of global adhesives & sealants market. However, adhesives and sealants manufacturing produce volatile organic compounds which can cause environment problems like pollution. The regulation imposed by government to restrict VOC emission can hamper the growth of global adhesives & sealants industry.

COVID-19 Impact

The wide spread of COVID-19 left a negative impact on the activities of various industrial sectors, as the necessary measures taken by countries like consequential lockdown led to lack of availability of labors and raw materials. This disrupted the functionality of various end users of adhesives and sealants like construction, automotive, textile, and aerospace. For instance, as per, International Construction and Infrastructure Surveys, the construction and infrastructure activities across all regions went down in Q1 of 2020 with China in the Asia-Pacific region having the sharpest workload contraction. Also, as per the International Organization of Motor Vehicle Manufacturing, in 2020 there was a 16% global decline in vehicles production. Further, as per the 2021 report of the General Aviation Manufacturers Association, the Global business jet deliveries declined 20.4% to 644 aircraft in 2020 due to the COVID-19 pandemic. Polycarboxylate is used in cement concrete application, cyanoacrylate adhesive is used in automotive interiors while acrylic sealants are used in aircraft to prevent corrosion and fuel leak. Hence, the decrease in productivity of such sector led to decrease in usage of adhesives and sealants in them.

Report Coverage

The report: “Adhesives & Sealants Market Report – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Adhesives & Sealants Industry

By Type – Water Based Latex, Acrylic, Polysulfide, Silicone, Polyurethane, Epoxies, Polyamides, Cyanoacrylate, Polyethylene Glycol, and Others (Polyisobutylene, Dextrin, Butyl)
By Form – Water based (Solution, Polymer Dispersion), Solvent based (Wet Bonding, Contact Adhesives), Hot Melt, and Reactive
By Application – Bonding (Paper Bonding, Wood Bonding), Concrete Production, Countertop Lamination, Drywall Lamination, Transportation (Automotive Module Sealant, Anti-Fuel Leaking Agent, Anti-Corrosive Agent, Clothing & Apparel (Apparel Laminate, Fabric Combining) and Others (Self-Adhesives Bandages, Circuit Boards Encapsulants)
By End User – Automotive (Passengers Cars, Heavy Commercial Vehicles, Light Commercial Vehicles, Others (Three-Wheeler, Two-Wheeler)), Construction (Residential, Commercial), Aerospace, Wood Industry, Paper, Textiles (Woven, Non-woven), Electronic, Medical and Others (Marine, Plastics)
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • Asia-Pacific dominates the global adhesives & sealants industry as the region consist of major end users of adhesives and sealants like plastic, construction, automotive, electrical in major economies like China, South Korea, and Australia. 
  • Rheology Modifier is used in water borne, solvent borne adhesives and sealants of all types, to control viscosity, provide coating performance and build thick adhesion between components. 
  • In dentistry filed, polycarboxylate cement is used in the fixation of dental crowns, inlays, and along with cavity linings which provide a good adhesion to the tooth structure.

Figure: Asia-Pacific Adhesives & Sealants Market Revenue, 2021-2027
Adhesives & Sealants Market
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Adhesives & Sealants Market Segment Analysis – By Type

Polyurethane held a significant share in global adhesives & sealants market in 2021, with a share of over 22.0%. Polyurethane adhesives are UV, water, and chemical resistant while polyurethane sealants provide long term elasticity and durable adhesion. Polyurethane adhesives are majorly used in automotive windshield while polyurethane sealants are used in sealing gaps and joints in components and structures. The rapid development in automotive and construction sectors has increased their scale of productivity which has positively impacted the usage of adhesives and sealants. For instance, as per European Automobile Manufacturers Association, the production and registration of passenger cars in the EU increased by 53.4% in 2021 with strong volume seen in Spain, France, and Germany. Further, as per US Census Bureau, in 2021, construction activities steadily increased in US, with residential construction showing an increase of 4.1% in November, up by 1% from 2020 same month. Such increase in productivity of these sectors will lead to more usage adhesives and sealants in the, which will positively impact the growth of global adhesives & sealants industry.

Adhesives & Sealants Market Segment Analysis – By End User

Construction sector held a significant share in global adhesives & sealants market in 2021, with a share of over 19.0%. Adhesives & sealants based of resins like polyamide, epoxy resin and plastisol are majorly used in construction sector as they have resistance to excessive sun, rainfall, provide good steel bonding, and act as cement dispersant. The rapid development in the construction sector in countries has increased the scale of construction activities and the undertaking of new infrastructure projects. For instance, as per European Union, in December 2021, construction of building increased by 4.6% and civil engineering by 3.3% compared to 2020. Also, in 2019 a total of US$ 102.3 billion worth of projects were processed across all GCC countries, compared to US$ 101.8 billion in 2018. Hence, such increase in the construction and infrastructure development activities will lead to more usage of adhesives in cement application while sealants will be used in blocking dust and heat transmission. This will have a positive impact on the growth of global adhesives & sealants industry.

Adhesives & Sealants Market Segment Analysis – By Geography

Asia-Pacific held the largest share in global adhesives & sealants market in 2021, with a share of over 27.0%. The region consists of major end-users of adhesives and sealants like construction, automotive, textiles, in major economies like China, India, Japan, and Australia with China having the largest automotive and construction sector. The economic development in these nations has led to increase in the industrial output of these sectors. For instance, as per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide with Japan & Korea producing 16%. Also, as per the State Council for the People’s Republic of China, in July 2021 China has approved projects related to the development of affordable rental homes. Further, as per October reports of Infrastructure Australia 2021, the major infrastructure activity relating to commercial buildings, civil infrastructure, and residential will double in the next three years. Cyanoacrylate adhesives are used in automotive roof pads, engine hose protectors and flex boards while acrylic and polyurethane based sealants are used to seal joints between components like concrete, steel, and masonry wall. Hence, the growing productivity of construction and automotive will lead to more usage of such adhesives and sealants in them, resulting in more growth of global adhesives & sealant industry.

Adhesives & Sealants Market Drivers

Growing Construction Activities

Emerging economies, rapid urbanization, and various infrastructural developments undertaken by countries have increased the scale of construction activity. For instance, in preparation for the 2021 Expo, Dubai awarded about 47 construction contracts with a total value of US$ 3 billion to local and foreign companies. In 2019 National Development and Reform Commission of China approved 26 infrastructure projects estimated to be completed by 2023. Also, in 2021, Oman’s Ministry of Housing and Urban Planning five new integrated projects that would provide 4800 housing units. Adhesives and sealants in building construction are used as the bonding layer for floor fixing, countertop lamination and wall covering. Hence, the increase in construction activities and infrastructure development projects will lead to more usage of adhesives and sealants, which will have a positive impact on the growth of the global adhesives & sealants industry.

Growing Production of Automotive

Automotive adhesives and sealants are used by automotive original equipment manufacturers (OEMs) to bond different substrate of metal, eliminating the need for welding and mechanical bolts, welds and rivets. The increase in purchase capacity, improvement in living standards, and rapid urbanization have led to an increase in the demand for new automotive vehicles, thereby increasing their production volume. For instance, as per the International Organization of Motor Vehicle Manufacturing, the global production volume of vehicles increased to 57 million in 2021 from 52 million in 2020. Also, as per the November 2021 report of the Europe Automobile Manufacturer Association, the new passenger car registration in the first ten months of 2021 increased up to 2.2% with an increase shown in European Union markets like Italy showed 12.7%, Spain showed 5.6% and France showed 3.1%. Such an increase in automobile production on account of high demand will increase the usage of adhesives and sealants like cyanoacrylate adhesives, which will have positive impact on growth of global adhesives & sealants industry.

Adhesives & Sealants Market Challenges

Stringent Government Regulation

One of the significant issues related to adhesives and sealants is that, their formation causes VOC emission which can lead to serious problems like skin irritation, sour throat and long-term damage to lungs & kidneys. Hence, in order prevent such problems various government organization have imposed certain regulation relating to VOC emission. For instance, Title 40, Code of Federal Regulations of US, Environment Protection Agency deals with EPA’s mission of protecting human health and the environment from VOC emission. Such regulation can restrict the production volume of adhesives and sealants, which can hamper the growth of global adhesives & sealants industry.

Adhesives & Sealants Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. The global adhesives & sealants top 10 companies include:
  1. Henkel Corporation
  2. Sika AG
  3. Arkema SA
  4. Evonik Industries
  5. Ashland Inc.
  6. PPG Industries
  7. RPM International Inc.
  8. Wacker Chemie AG
  9. Avery Dennison
  10. Pidilite Industries

Recent Developments

  • In 2021, Creative Materials introduced 129-06 temperature-sensing conductive adhesive, coating in either one-component or two-component versions, and the product has high reliability due to low hysteresis, high flexibility and strong adhesion.
  • In 2020, Arkema acquired Fixatti, a manufacturer of thermos-bonding adhesives powder and such acquisition will strengthen the global offering of hot melt adhesives solution for niche industrial applications.
  • In 2019, Sika AG acquired China based Crevo-Hengxin a manufacturer of silicone sealants and adhesives, and such acquisition will expand the adhesives & sealant market share of Sika in China

Relevant Reports


Report Code – CMR 27802


Report Code – CMR 28659


Report Code – CMR 0734

For more Chemicals and Materials Market reports, please click here 
1. Adhesives & Sealants Market- Market Overview
    1.1 Definitions and Scope
2. Adhesives & Sealants Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Form
    2.3 Key Trends by Application
    2.4 Key Trends by End User
    2.5 Key Trends by Geography
3. Adhesives & Sealants Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Adhesives & Sealants Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Adhesives & Sealants Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Adhesives & Sealants Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Adhesives & Sealants Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Adhesives & Sealants Market – By Type (Market Size -US$ Million/Billion)
    8.1 Water based latex
    8.2 Acrylic
    8.3 Polysulfide
    8.4 Silicone
    8.5 Polyurethane
    8.6 Epoxies
    8.7 Polyamides
    8.8 Cyanoacrylate
    8.9 Polyethylene Glycol
    8.10 Others (Polyisobutylene, Dextrin, Butyl)
9. Adhesives & Sealants Market – By Form (Market Size – US$ Million/ Billion)
    9.1 Water based
        9.1.1 Solution
        9.1.2 Polymer Dispersion
    9.2 Solvent based
        9.2.1 Wet Bonding
        9.2.2 Contact Adhesives
    9.3 Hot-Melt
    9.4 Reactive
10. Adhesives & Sealants Market – By Application (Market Size – US$ Million/ Billion)
    10.1 Bonding
        10.1.1 Paper Bonding
        10.1.2 Wood Bonding
    10.2 Concrete production
    10.3 Countertop Lamination
    10.4 Drywall Lamination
    10.5 Transportation
        10.5.1 Automotive Module Sealing
        10.5.2 Anti-Fuel Leaking agent
        10.5.3 Anti-corrosive agent
    10.6 Clothing & Apparel
        10.6.1 Apparel Laminate
        10.6.2 Fabric Combining
    10.7 Others (Self-Adhesive Bandage, Circuit Board Encapsulants,
11. Adhesives & Sealants Market – By End User (Market Size – US$ Million/ Billion)
    11.1 Automotive
        11.1.1 Passenger Cars
        11.1.2 Heavy Commercial Vehicles
        11.1.3 Light Commercial Vehicles
        11.1.4 Others (Three-Wheeler/ Two-Wheeler)
    11.2 Construction
        11.2.1 Residential Construction
        11.2.2 Commercial Construction
    11.3 Aerospace
    11.4 Wood Industry
    11.5 Paper
    11.6 Textiles
        11.6.1 Woven
        11.6.2 Non-woven
    11.7 Electronic
    11.8 Medical
    11.9 Others (Marine, Plastics)
12. Adhesives & Sealants Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Adhesives & Sealants Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Adhesives & Sealants Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Adhesives & Sealants Market – Key Company List by Country Premium Premium 
16. Adhesives & Sealants Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
    "*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global Adhesives Sealants Market, by Type Market 2023-2030 ($M)
2.Global Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Adhesives Sealants Market, by Type Market 2023-2030 (Volume/Units)
4.Global Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Adhesives Sealants Market, by Type Market 2023-2030 ($M)
6.North America Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Adhesives Sealants Market, by Type Market 2023-2030 ($M)
8.South America Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Adhesives Sealants Market, by Type Market 2023-2030 ($M)
10.Europe Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Adhesives Sealants Market, by Type Market 2023-2030 ($M)
12.APAC Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Adhesives Sealants Market, by Type Market 2023-2030 ($M)
14.MENA Adhesives Sealants Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)

LIST OF FIGURES

1.US Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
2.Canada Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
3.Mexico Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
4.Brazil Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
5.Argentina Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
6.Peru Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
7.Colombia Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
8.Chile Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
10.UK Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
11.Germany Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
12.France Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
13.Italy Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
14.Spain Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
16.China Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
17.India Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
18.Japan Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
19.South Korea Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
20.South Africa Global Adhesives & Sealants Market Revenue, 2023-2030 ($M)
21.North America Global Adhesives & Sealants Industry By Application
22.South America Global Adhesives & Sealants Industry By Application
23.Europe Global Adhesives & Sealants Industry By Application
24.APAC Global Adhesives & Sealants Industry By Application
25.MENA Global Adhesives & Sealants Industry By Application