At 3.1% CAGR, the Middle East & Africa Adhesives and Sealants Market is Projected to be worth US$ 3,974.15 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa adhesives and sealants market was valued at US$ 3,115.15 million in 2022 and is expected to reach US$ 3,974.15 million by 2030, registering a CAGR of 3.1% from 2022 to 2030. Strong growth of construction and automotive industries and increasing demand for adhesives and sealants from paper & packaging industry are the critical factors attributed to the Middle East & Africa adhesives and sealants market expansion.             

The construction industry in various countries across the world is growing due to continuing industrialization and urbanization, increasing population, growing income of a middle-class population, and increasing infrastructural developments and investments in the construction industry. The Middle East & Africa is projected to witness a rapid rise in industrialization, urbanization, which in turn, will propel the overall economy the region. The Gulf countries are economically advanced, while the African countries are yet to level up to their economic conditions. Most GCC countries are experiencing economic diversification and improvements required to enhance business environments and encourage foreign direct investment (FDI). According to the Economist Group, the construction sector in the GCC is expected to grow ~3.5–4% a year on average in 2023–2024. Thus, the strong growth in the construction industry is a crucial factor propelling the adhesives and sealants market in the region. Economic growth within the region is attracting investors' attention from the countries such as South Africa, Saudi Arabia, UAE, and others are anticipated to create opportunities for construction projects, including commercial, institutional, residential, and industrial buildings. This aspect is undoubtedly grabbing international companies' attention to expand their construction business in the Middle East & Africa. The increasing mall, showroom, bridges and other construction projects industry in various countries propels the adhesives and sealants market growth. The production of EVs is increasing across the region with the launch of new EVs by several companies. For instance, in 2023, General Motors (GM) announced its plan to launch 13 EVs by 2025 and a 35% reduction in its annual operational carbon footprint in the UAE. Also, in February 2023, the government of Saudi Arabia announced its plan to make the country a manufacturing hub for electric vehicles (EVs) in the coming years; as part of the plan, the automotive manufacturing industry is expected to produce 500,000 EVs annually by 2030. Therefore, the electric vehicles production is increasing in Middle East & Africa region. Hence, the strong growth of the automotive industry in various countries across the region bolsters the demand for adhesives and sealants.

On the contrary, fluctuation in prices of raw materials hurdles the growth of Middle East & Africa adhesives and sealants market. 

Based on resin type, the Middle East & Africa adhesives and sealants market is bifurcated into adhesives and sealants. The adhesives segment held 83.1% market share in 2022, amassing US$ 2,590.18 million. It is projected to garner US$ 3,327.77 million by 2030 to expand at 3.2% CAGR during 2022–2030. Additionally, the adhesives segment is categorized into epoxy, polyurethane, acrylic, and others. Further, the sealants segment is subsegmented into silicone sealant, urethane sealant, acrylic sealant, polysulfide sealant, and others.

Based on end-use industry, the Middle East & Africa adhesives and sealants market is categorized into automotive, aerospace, paper and packaging, building and construction, electrical and electronics, medical, and others. The building and construction segment held 34.4% market share in 2022, amassing US$ 1,070.60 million. It is projected to garner US$ 1,414.49 million by 2030 to expand at 3.5% CAGR during 2022–2030.

Based on country, the Middle East & Africa adhesives and sealants market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 33.4% share of Middle East & Africa adhesives and sealants market in 2022. It was assessed at US$ 1,041.39 million in 2022 and is likely to hit US$ 1,346.27 million by 2030, exhibiting a CAGR of 3.3% during 2022–2030.            

Key players operating in the Middle East & Africa adhesives and sealants market are Henkel AG and Co KGaA, HB Fuller Company, Sika AG, 3M Co, Huntsman International LLC, Dow Inc, Wacker Chemie AG, and Parker Hannifin Corp, among others.

• In April 2021, Sika AG acquired adhesives and sealants business in Japan.
• In Feb 2023, 3M Co launched medical adhesive with longer wear time.

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