The global Adhesives and Sealants market size was valued at USD 70.40 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 6.1% during the forecast period, reaching a value of USD 108.20 billion by 2030.
Adhesives and Sealants market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Adhesives and Sealants are essential materials used across various industries for bonding and sealing applications. Adhesives are substances that create a strong bond between two or more surfaces, enhancing structural integrity. They are commonly employed in industries such as automotive, construction, and electronics for assembling components. Sealants, on the other hand, serve the vital role of preventing the passage of fluids or gases through joints or gaps in structures. They are widely used in sealing joints in buildings, automotive gaskets, and even in aerospace applications to maintain airtight and watertight conditions. Adhesives and Sealants play a crucial role in enhancing product durability, safety, and performance in a wide range of sectors, making them indispensable in today's manufacturing processes.
MARKET DYNAMICS:
The ever-expanding construction industry, which demands reliable adhesives and sealants for various applications, including structural bonding and sealing. Additionally, the automotive sector's continued evolution towards lightweight materials to enhance fuel efficiency and reduce emissions has created a significant demand for advanced adhesives that can efficiently bond modern car components, offering both strength and flexibility. Moreover, the growth in consumer electronics and packaging industries is fueling the need for specialized adhesives and sealants designed to meet stringent performance requirements. These market drivers collectively contribute to the industry's expansion, presenting opportunities for businesses to innovate and capture a larger market share.
However, the Adhesives and Sealants market is not without its challenges. Environmental concerns and regulations have led to a shift towards eco-friendly and low-VOC (volatile organic compound) adhesive solutions, necessitating research and development investments to meet these evolving standards. Moreover, fluctuations in the prices of raw materials, such as petrochemical-based resins, can impact production costs, affecting market stability. The market also faces competition from alternative bonding and sealing methods, such as mechanical fastening, which can limit growth in certain applications.
ADHESIVES AND SEALANTS MARKETSEGMENTAL ANALYSIS
BY TYPE:
Acrylic adhesives, known for their versatility and strong bond strength, have witnessed a surge in demand across various applications, including automotive and construction. Their ability to provide excellent weather resistance and durability makes them a preferred choice in outdoor applications.
Polyurethane adhesives have gained prominence due to their exceptional adhesive properties and flexibility. These adhesives are widely used in industries like aerospace and automotive, where the need for bonding materials that can withstand stress and vibration is paramount. Epoxy adhesives, on the other hand, are valued for their superior mechanical properties and resistance to chemicals, making them crucial in applications where structural integrity is vital, such as in the manufacturing of composite materials.
Silicone adhesives offer unique advantages with their high-temperature resistance and excellent electrical insulating properties. They are often employed in electronics and aerospace industries. Polyvinyl acetate (PVA) adhesives, characterized by their ease of use and non-toxic nature, are commonly found in woodworking and paper packaging applications.
BY APPLICATION:
In the automotive industry, adhesives and sealants play a crucial role in enhancing vehicle performance and safety. They are used extensively for bonding lightweight materials, improving fuel efficiency, and reducing noise and vibration, contributing to the overall market growth.
The construction sector is another significant driver of the Adhesives and Sealants market. These materials find extensive use in construction applications, including structural bonding, tile adhesion, and sealing joints. As the construction industry continues to expand globally, the demand for adhesives and sealants remains robust.
The packaging industry is also a dominant factor influencing the market. Adhesives are essential for packaging solutions, ensuring product integrity and security during transit and storage. Whether it's food packaging or industrial containers, the need for reliable adhesives and sealants to maintain package integrity is a constant driver for this market segment.
BY END-USER INDUSTRY:
The automotive industry stands out as one of the primary drivers, where adhesives and sealants are indispensable for ensuring vehicle performance, safety, and efficiency. These materials are extensively used for bonding lightweight materials in automotive manufacturing, enhancing fuel efficiency, and reducing noise and vibration, contributing significantly to market growth.
The building and construction industry is another pivotal factor in the Adhesives and Sealants market. These materials play a critical role in construction applications, including structural bonding, sealing joints, and securing tiles and flooring. As urbanization and infrastructure development continue worldwide, the demand for adhesives and sealants remains robust in the construction sector.
The packaging industry is also a dominant force, with adhesives serving as essential components in various packaging solutions. They play a crucial role in ensuring the integrity and security of packaged products during transit and storage. Whether it's food packaging or industrial containers, the need for reliable adhesives and sealants to maintain package integrity remains a constant driver for this market segment. Additionally, the electronics, aerospace, woodworking, healthcare, and other industries each contribute to the diverse landscape of the Adhesives and Sealants market, highlighting its versatility and adaptability to meet the specific requirements of a wide range of sectors.
REGIONAL ANALYSIS:
North America represents a significant market, driven by a robust automotive sector and a thriving construction industry. The demand for advanced adhesives and sealants in applications such as aerospace also contributes to its growth. In Europe, stringent environmental regulations are promoting the adoption of eco-friendly adhesives, while the construction sector remains a prominent driver. The Asia Pacific region, with its burgeoning manufacturing and construction activities, is experiencing substantial growth in this market. The electronics industry in the region is also a notable contributor, emphasizing the importance of adhesives and sealants in securing delicate electronic components.
Latin America exhibits potential for growth, driven by increased investments in infrastructure development and a growing automotive industry. Meanwhile, the Middle East and Africa region is witnessing steady market expansion, primarily in the construction and oil & gas sectors.
COVID-19 IMPACT:
The pandemic disrupted supply chains, leading to shortages of raw materials and production delays. Lockdowns and restrictions on construction and manufacturing activities in several regions affected market demand. However, as industries adapted to new safety measures and remote working, there was a resurgence in demand for adhesives and sealants, particularly in the healthcare sector for medical equipment and packaging applications. The market also witnessed increased interest in antimicrobial and antiviral adhesives, reflecting the changing needs brought about by the pandemic.
INDUSTRY ANALYSIS:
Mergers & Acquisitions:
- In 2023, Henkel acquired Atlas Materials, a US-based manufacturer of adhesives and sealants for the construction and industrial markets.
- In 2022, 3M acquired Avery Dennison's Performance Tapes & Specialties business, which includes a portfolio of adhesives and sealants for a variety of applications.
Product New Launches:
- In 2023, Dow launched a new line of sustainable adhesives and sealants made from renewable materials.
- In 2022, Bostik launched a new range of low-VOC adhesives and sealants for the indoor air quality market.
KEY MARKET PLAYERS:
- Henkel AG & Co. KGaA
- 3M Company
- H.B. Fuller Company
- Dow Inc.
- Sika AG
- Bostik SA
- Arkema Group
- Avery Dennison Corporation
- Huntsman Corporation
- Pidilite Industries Ltd.
- RPM International Inc.
- Illinois Tool Works Inc.
- LORD Corporation
- Mapei S.p.A.
- Jowat SE
- Permabond LLC
- Franklin International
- Dymax Corporation
- Wacker Chemie AG
- Hexion Inc.
- Mactac, LLC
- Ashland Global Holdings Inc.
- Toyo Adtec Co., Ltd.
- Beardow Adams Group
- DAP Products Inc.
- others
Table of Contents
- Introduction
- Market Overview
- Market Size and Growth Trends
- Market Segmentation
- By Type
- By Application
- By Region
- By End-User Industry
- By Cure Type
- By Substrate Type
- By Functionality
- By Distribution Channel
- By Environmental Impact
- By End-Use Temperature
- Competitive Landscape
- Key Players
- Market Share Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Regulatory Environment
- Technological Advancements
- Pricing Analysis
- Case Studies
- Future Outlook
- Conclusion
- References
Adhesives and Sealants Market segmentation
By Type:
- Epoxy Adhesives
- Polyurethane Adhesives
- Silicone Adhesives
- Acrylic Adhesives
- Polyvinyl Acetate (PVA) Adhesives
- Others
By Application:
- Automotive
- Construction
- Packaging
- Electronics
- Woodworking
- Medical
- Aerospace
- Others
By End-User Industry:
- Automotive
- Construction
- Electronics
- Healthcare
- Aerospace
- Furniture
- Others
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Adhesives and Sealants Market Dynamic Factors
Drivers:
- Increasing demand from various industries such as automotive, construction, and electronics.
- Technological advancements leading to the development of high-performance adhesives and sealants.
- Growing emphasis on lightweight and fuel-efficient vehicles driving the need for advanced bonding solutions.
- Expansion of the construction industry, especially in emerging economies, boosting the demand for adhesives and sealants in building applications.
Restraints:
- Fluctuating raw material prices affecting the production costs of adhesives and sealants.
- Stringent regulations related to the environmental impact of adhesives, leading to the development of eco-friendly but costlier alternatives.
- Limited shelf life of certain adhesives, causing challenges in inventory management for manufacturers.
- Intense market competition leading to pricing pressures on companies.
Opportunities:
- Growing adoption of adhesives and sealants in the healthcare sector for medical device assembly and wound care applications.
- Rising demand for electric vehicles (EVs) creating opportunities for specialized adhesives in battery and component assembly.
- Expansion of the renewable energy sector, driving the need for adhesives and sealants in solar panel and wind turbine manufacturing.
- Increasing focus on research and development for bio-based adhesives, tapping into the sustainable products market.
Challenges:
- Limited awareness among end-users about the specific applications and benefits of different types of adhesives and sealants.
- Issues related to product compatibility, especially when bonding diverse materials in complex manufacturing processes.
- Supply chain disruptions, such as transportation delays and shortages of key raw materials, affecting the production and delivery of adhesives and sealants.
- Adherence to stringent quality standards and certifications, posing challenges for small and medium-sized adhesive manufacturers.
Frequently Asked Questions
