With a CAGR of 5.0%, the global adhesives and sealants market size

Pune, India, July 18. 2022 (GLOBE NEWSWIRE) — The world adhesives and sealants market the size stood at USD 62.63 Billion in 2021. The market may grow from USD 65.38 Billion in 2022 to USD 92.29 Billion by 2029 at a CAGR of 5.0% during the forecast period. forecast. Fortune Business Insight™ elaborated on these contributions in its latest research report, titled, Adhesives and Sealants Market, 2022-2029.”

According to an analysis, adhesives and sealants have become sought after in the automotive, construction and consumer sectors. Big companies could invest in advanced technologies to boost their portfolios. To illustrate, in May 2020, Creative Materials, Inc. rolled out a new gold conductive ink adhesive, 128-24, which would provide high efficiency with less gold.

Impact of COVID-19

Decline in construction activities Contested stakeholders

The onslaught of the COVID-19 pandemic has had a noticeable influence on the construction and automotive sectors. Some of these factors, such as the shortage of raw materials and logistical constraints, did not bode well for large companies wishing to strengthen their portfolios. A multitude of projects, including buildings, construction and irrigation, have seen a temporary halt or cancellation of projects. However, adhesive products have become sought after in the healthcare, paper and packaging industries. The resumption of economic activities in emerging and advanced economies could provide impetus to the growth of the industry.

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Key Players Covered in the Adhesives and Sealants Market Report:

  • 3M (USA)
  • Arkema SA (France)
  • Henkel Corporation (Germany)
  • Ashland Inc. (USA)
  • Avery Dennison (USA)
  • BASF SE (Germany)
  • Evonik Industries (Germany)
  • H. B. Fuller Company (USA)
  • PPG Industries (USA)
  • RPM International Inc. (USA)
  • Sika AG (Switzerland)
  • Wacker Chemie AG (Germany)

Adhesives and Sealants Market Report Scope and Segmentation:

Report attribute Details
Market size value in 2021 $62.63 billion
Revenue forecasts in 2029 $92.29 billion
Rate of growth CAGR of nearly 5.0% 2022-2029
base year 2021
Historical years 2018 – 2020
Forecast years 2022 – 2029
Segments Covered By product type, by packaging, by distribution channel, by region
Forecast units Value (USD billion) and volume (units)
Quantitative units Revenue in USD Million/Billion and CAGR from 2020 to 2027
Regions covered North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of the World
Countries covered United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others
Number of companies covered 3M, Arkema SA, Ashland Inc., Avery Dennison, BASF SE, HB Fuller Company, Huntsman Corporation, PPG Industries, RPM International Inc., Sika AG
Report cover Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.
Scope of customization Take advantage of personalized purchasing options to meet your exact research needs.

segments

Water-Based Adhesives Will Gain Ground With Rising Packaging Demand

With respect to adhesive technology, the market is segmented into solvent, water-based, reactive, hot melt and others. The water-based adhesives segment could account for a considerable share of the global market due to the growing demand from the paper, packaging and plastics sectors.

Silicone sealant should remain dominant due to its water resistance and flexibility properties

In terms of sealing resin, the market is divided into polyurethane, silicone, polysulfide, emulsion and others. The silicones segment could account for the largest share of the global market due to its tremendous water resistance properties. Moreover, the growing demand from the construction sector will encourage investments on a global scale.

Paper and packaging will be in demand due to the growing demand for packaged food

Based on the end-use industry of adhesives, the market is categorized into carpentry, building & construction, paper & packaging, consumer/DIY, leather & footwear, automotive & transportation, etc. The paper and packaging segment might garner the largest share owing to the growing demand for packaged foods.

Building and construction will gain momentum with expanding applications in ceilings and flooring

As for the end-use industry of sealants, the market is divided into automotive & transportation, building & construction, consumer, and others. The building and construction segment will grow with increasing applications in ceilings and flooring.

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Report cover

The report offers a comprehensive perspective of market size, share, revenue, and volume. He did a thorough SWOT analysis. Quantitative and qualitative assessments provided an overall view of the market. Primary interviews validate assumptions, conclusions, and prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers and journals.

Drivers and Restrictions

Booming urbanization and growing R&D activities to drive innovations

The market share of adhesives and sealants will be pronounced during the forecast period, largely due to the exponential growth in population and urbanization. Asia-Pacific could offer promising growth opportunities following the expansion of R&D activities and localized production. Additionally, the US market could benefit from growth in the housing sectors, urbanization and robust policies. The trend of electronic devices, including smartphones, electronic components and laptops, bodes well for the business outlook. Meanwhile, the use of increased amount of chemicals in the production of adhesives and sealants might hamper the growth of the industry.

Regional outlook

Asia-Pacific to Gain Ground with Bullish Automotive Investments

Stakeholders expect Asia-Pacific market growth to be strong driven by growing demand from packaging, building & construction, and automotive industries. Population growth has had a significant influence on the demand for automobiles, which bodes well for regional growth. In addition, the presence of leading companies, such as Sika Ltd. and 3M Japan Limited, will strengthen Asia-Pacific’s position in the global landscape.

The growth of the adhesives and sealants market in North America will be pronounced with a notable trend for flexible packaging. Additionally, a noticeable shift towards recyclables in the United States and Canada will bode well for large companies as they prepare to propel their regional footprint.

Stakeholders expect Europe to witness an abundance of investment due to the presence of leading companies in the region. Some of the major players in the adhesives market, including Wacker Chemie AG, Arkema, and Henkel, may take the lead in the regional market. Additionally, the growing demand for green adhesives will also bode well for the regional outlook.

Competitive landscape

Stakeholders prioritize strategic approaches to drive penetration

Major players could inject funds into mergers and acquisitions, product rollouts, technological advancements and R&D activities. Also, large companies could invest in innovations and product offerings in the coming period.

Development of key industry

  • February 2022: Arkema has completed the acquisition of Ashland’s Performance Adhesives business to strengthen the adhesive solutions portfolio.

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