Adhesives & Sealants Market by Type [Adhesives (Water-based, Solvent-based, Hot-melt, Reactive, and Others) and Sealants (Silicone, Polyurethane, Polysulfide, Butyl, and Others)], Application (Building and Construction, Automotive, Medical, Electronics, Consumer Goods, Paper & Packaging and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 75 billion mark in 2022 and is expected to hit US$ 125 billion by 2030, recording a CAGR of 4% during the forecast period.
Adhesives & sealants market has been significantly growing with the increasing their demand from various application fields
The adhesives & sealants are highly used in applications such as building and construction, automotive, medical, electronics, consumer goods, and packaging. Various applications of adhesives and sealants in the automotive industry includes structural bonding of drive shaft and chassis, sealing heat exchanger tubes, bonding interior dashboard and trim, bonding of sensors, and others. Further, different low emission automotive adhesives and sealants are designed to enable lightweight designs that increase energy efficiency, safety, and sustainability. The rapidly growing automotive industry in different countries across the globe creates a huge demand for automotive adhesives and sealants. The paper & packaging industry is one of the largest users of adhesives. Adhesives in the packaging industries are important to the structure of most paper and paper board packaging. The building and construction segment is expected to pace up with the growing use of adhesives & sealants in the construction industry. Further, other segments such as automotive, medical, electronics, consumer goods, and paper & packaging are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, application, and geography. By type, the market is segmented into adhesives and sealants. The adhesives segment is categorized into water-based, solvent-based, hot-melt, reactive, and others. The sealants segment is categorized into silicone, polyurethane, polysulfide, butyl, and others. On the basis of application, the market is segmented into building and construction, automotive, medical, electronics, consumer goods, paper & packaging and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing focus of manufacturers on developing products with renewable content
Players operating in the adhesives & sealants market are focusing on developing products from renewable sources. For instance, in 2020, WACKER extended its silicone portfolio to include silicone sealants based on renewable raw materials. With its ELASTOSIL eco brand launched in Europe, the company is able to offer products manufactured using bio-based methanol to silicone sealant suppliers. In addition, in 2021, Bostik launched two new adhesive products with 50% and 75% renewable content in support of its ‘Responsibly for Hygiene’ Commitment. The new products formulated to meet disposable hygiene article manufacturers’ needs for adhesives with renewable content.
Growing demand for adhesives & sealants from building & construction industry
Adhesives plays an important role and have various uses in the construction industry. They are used in number of applications such as carpet laying, bonding layer for floor fixing between the existing floor and the substrate, used in HVAC i.e. Heating, Ventilation and Air Conditioning, fixing of pre-finished panels, and many other applications. In addition, there are different types of sealants that are the most commonly used in construction. Further, the global construction industry is growing due to continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. This is creating a huge demand for adhesives & sealants from the building & construction industry
Recent strategic developments in adhesives & sealants market
The adhesives & sealants market has undergone several significant developments, and a few of these have been mentioned below:
- In 2020, Henkel Adhesives Technologies India Private Limited, opened a new production facility in Kurkumbh, near Pune. With this investment, the company aims to serve the growing demand of Indian industries for high-performance solutions in adhesives, sealants and surface treatment products.
- In 2021, H.B. Fuller India, launched a new food safe adhesive under its leading Swifttak brand to meet the increasing paper straws demand.
- In 2020, Terumo launched new surgical sealant AQUABRID® in EMEA Market. AQUABRID is a new surgical sealant especially developed for aortic procedures.
The adhesives & sealants market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Henkel AG & Co. KGaA, H.B. Fuller, Sika AG, Arkema, and 3M are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Adhesives & sealants related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industries of adhesives & sealants
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Building and Construction
- Consumer Goods
- Paper & Packaging
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Henkel AG & Co. KGaA
- H.B. Fuller
- Sika AG
The List of Companies
- Henkel AG & Co. KGaA
- H.B. Fuller
- Sika AG