USD 67.48 billion
Adhesives And Sealants Market Size, Share, Growth Analysis, By Adhesive Technology(Water-Based Adhesives (PVA Emulsion Adhesives, Acrylic Polymer Emulsion Adhesives, VAE Emulsion Adhesives, SBC Latex Adhesives), By Adhesive Application(Paper & Packaging, Building & Construction, Woodworking, Automotive & Transportation), By Sealant Resin Type(Polyurethanes, Silicone, Plastisol, Emulsion), By Sealants Application(Building and Construction, Automotive & Transportation, Consumer, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2496 |
Region:
Global |
Published Date: July, 2024
Pages:
245
|Tables:
147
|Figures:
77
Adhesives And Sealants Market Insights
Global Adhesives and Sealants Market size was valued at USD 67.48 billion in 2022 and is poised to grow from USD 71.5 billion in 2023 to USD 114 billion by 2031, growing at a CAGR of 6.0% in the forecast period (2024-2031).
The adhesives and sealants market is rising due to a high demand for lighter and low carbon vehicles that are driving innovations in technologies and materials. Also, the construction industry is a key consumer since adhesives and sealants are extensively used in various applications including tilling, drywalls, fittings, ceiling applications, bathroom floor coverings, and molding. Currently, environmental legislation has a strong impact on market trends, forcing the development of environmentally friendly adhesives. Adhesives and sealant production results in emission of volatile organic compounds (VOCs) that are known to cause various health effects. As such, there is growing concern on the availability of VOC-free products in the market. The market for adhesives and sealants is enormous and very complex, and there are many companies that produce different types of products. Our analysis indicates that the market will continue to expand in the following years due to increasing demand, growth in the automobile and construction sectors, as well as increased focus on ecology.
US Adhesives And Sealants Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Acrylic
Fastest Growth
Epoxy
Growth Rate
6.0% CAGR
Global Adhesives and Sealants Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Adhesives And Sealants Market Segmental Analysis
Global Adhesives and Sealants Market is segmented on the basis of type, resin type, end user industry, and region. By adhesive technology, the market is segmented into Water-Based Adhesives (PVA Emulsion Adhesives, Acrylic Polymer Emulsion Adhesives, VAE Emulsion Adhesives, SBC Latex Adhesives, Others), Solvent-Based Adhesives (Polyurethane Adhesives, Acrylic Adhesives, Chloroprene Rubber (CR) Adhesives, Polyvinyl Acetate (PVA) Adhesives, Polyamide Adhesives, Synthesized Rubber Adhesives, Others), Hot-Melt Adhesives (Ethylene-vinyl Acetate (EVA) Adhesives, Styrenic Block Copolymer (SBC) Adhesives, Metallocene Polyolefin (MPO) Adhesives, Polyolefin Adhesives, Amorphous Poly-alphaolefin (APAO) Adhesives, Others), Reactive & Others (Polyurethane Adhesives, Epoxy Adhesives, Others). By adhesive application, the market is segmented into Paper & Packaging, Building & Construction, Woodworking, Automotive & Transportation, Consumer & DIY, Leather & Footwear, Assembly, Electronics, Medical, and Others. By sealant resin type, the market is segmented into Polyurethanes, Silicone, Plastisol, Emulsion, Polysulfide, Butyl, and Others. By sealant application, the market is segmented into Building and Construction, Automotive & Transportation, Consumer, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Adhesive Technology
Water-based adhesives lead the adhesive and sealant market, driven by growing construction activities in North America and new infrastructure projects in developing countries like India and Taiwan. Their versatility and strong adhesion to various materials make them highly popular. These adhesives are extensively used in packaging applications such as bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding. Additionally, the eco-friendly nature of water-based adhesives, which emit fewer volatile organic compounds (VOCs), aligns with increasing environmental regulations and sustainability efforts. The global market for adhesives and sealants is expected to grow significantly, further fueled by the demand for eco-friendly products in various industries.
The solvent-based adhesives segment is experiencing rapid growth, driven by their superior bonding strength and versatility across a wide range of applications. These adhesives are particularly favored in industries where high-performance bonding is crucial, such as automotive, aerospace, and electronics. Solvent-based adhesives provide excellent resistance to heat, chemicals, and moisture, making them ideal for demanding environments. Additionally, advancements in formulation have improved their environmental profile, reducing volatile organic compound (VOC) emissions. The growing demand for durable and high-strength adhesives in manufacturing and industrial applications is propelling the expansion of this segment. According to industry reports, the global market for solvent-based adhesives is expected to continue its upward trajectory, supported by technological innovations and the increasing complexity of modern industrial products.
Analysis By Adhesive Application
The Building and Construction industry stands as the largest segment within the adhesives and sealants market, boasting a commanding market share of over 40%. This dominance is further affirmed by the fact that adhesives and sealants are pivotal in the industry across the world. Starting with flooring and roofing, the building and construction sector depends heavily on these materials for application in insulation, panel bonding and structural bonding. These are attributed to the continuous advancement in urban infrastructures and constructions across the global markets, which remain the key driver for the growth of adhesives and sealants in this industry. The use of the adhesives and sealants enables builders and construction professionals to enhance the quality, and the strength of the structure, which affirms the crucial role of the products.
On the other hand, the paper and packaging industry is the most rapidly growing segment within the adhesives and sealants market, being in closest proximity to 26% share. Some of the reasons that fuel this growth include the expansion of the ecommerce industry has created more needs to use packaging materials. Furthermore, the growing trend towards green packaging which entails the minimization of the use of toxic or non-recyclable packaging materials also fuels the demand for improved adhesives and sealants. It is also equally important to consider convenience and safety concerns as the key elements of consumerism. Other related factors include advances in packaging design and materials that add on to this development and in turn contributing to the growth of the industry and its corresponding requirements for adhesive and sealing alternatives.
Global Adhesives and Sealants Market Size By Adhesive Technology ($ Bn)
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Adhesives And Sealants Market Regional Insights
The Asia Pacific region has emerged as a dominant region in the adhesives and sealants market, seizing a substantial revenue share of 41.2% in 2023. The market industries like textile & garments, construction, and automotive has shown a strong pattern from the year 2021 and continues to remain strong in the year 2023. For instance, with regional players like Pidilite is emerging, the future appears to be rosy for the Asian adhesives and sealants market. But construction in developing countries such as China and India is one that plays a crucial role. More factories within electronics, auto, and packaging industries require these products to manufacture and even encapsulate their products. Increasing tendencies towards e-shopping and consumption also call for higher durability, security, and adhesive based packaging.
North America is experiencing fast growth, driven by several key factors. Firstly, due to the development of a strong construction sector throughout a large range of applications including flooring, roofing, and insulation all across the world especially in the United States. Secondly, the automotive industry is experiencing a shift towards higher usage of lightweight materials and superior bonding solutions to boost fuel efficiency and consequently, decrease greenhouse gas emissions. In light of our observations, the increased utilization of flexible packaging popular in America is driving the market further by growing at a rate of 7% annually. Factors such as the expanding investments on infrastructure development projects, and boosted DIY home improvement products and services are also driving the growth of this market.
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Adhesives And Sealants Market Dynamics
Adhesives And Sealants Market Drivers
Adhesives and Sealants Lead the Charge in Lightweight Revolution
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The need for lightweight automotive components and other applications requiring enhanced efficiency through light weight material and accompanied advanced manufacturing technologies are expected to be the key driving forces to the Adhesives and Sealants market. The main adhesive applications for industries include the need for strong adhesion of lightweight materials such as composites, plastics, and aluminum to meet efficiency, durability, and sustainability demands. Similarly, this continues to be the case with regards to transportation, construction as well as in electronics industry where innovation advances market drum which contributes to the growth of the market greatly.
Technological Advancements
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Continuous advancements in products in adhesion and sealants that have lately been launched in the market cover high performance and ecological requirements and are the key factors fostering the market growth. It is only the manufacturers that have been directing major capital outlay on research and development studies aimed at introducing new products with better qualities. These innovations include increased bond strength, enhanced flexibility, and better performance in high and low temperatures and aggressive chemical and environmental attack.
Restraints
Volatile Raw Material Prices
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The volatility in raw material prices, integral to the production of adhesives and sealants, presents a notable challenge for manufacturers. Fluctuations in these costs can directly influence production expenses and profit margins. For instance, the cost of crude oil, a key raw material, fluctuated by over 11.86% since the beginning of 2024. Such instability impacts production costs, leading to unpredictable pricing for end-users and affecting profit margins for manufacturers. This volatility can hinder market growth and investment in new product development
Environmental and Regulatory Concerns
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Adhesives and sealants frequently contain volatile organic compounds (VOCs) and other chemicals that pose potential environmental hazards. Heightened regulatory standards and a growing emphasis on sustainability are fueling the demand for eco-friendly alternatives. For instance, strict regulations, such as the EU’s REACH regulation and the U.S. EPA’s VOC limits, impose stringent requirements on manufacturers. Moreover, compliance can be costly, with fines reaching up to €10 million in the EU.
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Adhesives And Sealants Market Competitive Landscape
The adhesives and sealants market are a highly competitive industry characterized by the presence of numerous key players and a wide range of product offerings. The market is driven by various factors such as increasing demand from industries like automotive, construction, packaging, and healthcare. Major players in the market dominate the market through their strong distribution networks, extensive product portfolios, and continuous investments in research and development activities to introduce innovative and sustainable adhesive and sealant solutions. Additionally, strategic partnerships, mergers and acquisitions, and collaborations are common strategies adopted by these players to further strengthen their market position.
Adhesives And Sealants Market Top Player's Company Profiles
- Henkel AG & Co. KGaA (Germany)
- 3M Company (United States)
- Sika AG (Switzerland)
- H.B. Fuller Company (United States)
- Arkema S.A. (France)
- Dow Chemical Company (United States)
- Selena Group (Poland)
- Avery Dennison Corporation (United States)
- Huntsman Corporation (United States)
- Illinois Tool Works Inc. (United States)
- Momentive Performance Materials Inc. (United States)
- RPM International Inc. (United States)
- Pidilite Industries Limited (India)
- Jowat SE (Germany)
- Ashland Global Holdings Inc. (United States)
- Mapei S.p.A. (Italy)
- LORD Corporation (Parker Hannifin Corporation) (United States)
- Wacker Chemie AG (Germany)
- BASF SE (Germany)
- Hexion Inc. (United States)
Adhesives And Sealants Market Recent Developments
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In April 2024, Mapei introduced Mapeflex MS 55, a cutting-edge hybrid adhesive and sealant designed for everyday maintenance. This versatile product caters to a broad spectrum of requirements, making it suitable for both professional and non-professional users.
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In May 2023, Henkel launched a new injectable thermally conductive adhesive for EV battery systems. Henkel has extended its broad portfolio of solutions for EV battery systems with a first-of-its-kind injectable thermally conductive adhesive. The new adhesive – Loctite TLB 9300 APSi – provides both structural bonding, as well as thermal conductivity in the battery system.
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In January 2023, H.B. Fuller announced the launch of Swift melt 1515-I, its first bio-compatible product compliant in IMEA – India, Middle East, and Africa. The product is for medical tape applications to be used in stick-to-skin under unique climatic conditions, such as the high temperatures and humidity in the Indian sub-continent.
Adhesives And Sealants Key Market Trends
- Increased focus on sustainability: Sustainability has become a significant trend in the adhesives and sealants market. Manufacturers are increasingly developing eco-friendly formulations that minimize environmental impact throughout the product lifecycle. This includes reducing VOC emissions, using renewable or bio-based raw materials, and optimizing packaging for recyclability. For instance, water-based adhesives that eliminate or reduce the use of solvents are gaining popularity due to their lower environmental footprint.
Adhesives And Sealants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Based on our comprehensive analysis of Global Adhesives and Sealants Market, a significant growth trajectory has been observed, with projections indicating sustained expansion in the foreseeable future. This growth is underpinned by escalating demand across diverse industries including automotive, construction, packaging, and healthcare. Key drivers include the rapid pace of urbanization, extensive infrastructure development, and burgeoning industrial activities particularly in emerging economies, all of which contribute to the market's optimistic trajectory. Furthermore, the market's upward momentum is bolstered by a notable shift towards lightweight and environmentally friendly adhesive solutions, coupled with advancements in technology that enhance product performance. The widespread adoption of adhesives and sealants across a myriad of applications further propels market expansion. However, it's essential to acknowledge potential hurdles such as fluctuating raw material prices and stringent environmental regulations, which may impede growth prospects. Despite these challenges, the overall outlook remains optimistic, with the market poised to capitalize on emerging opportunities and sustain its upward trajectory in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 67.48 billion |
| Market size value in 2031 | USD 114 billion |
| Growth Rate | 6.0% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Adhesives And Sealants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Adhesives And Sealants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Adhesives And Sealants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Adhesives And Sealants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Adhesives And Sealants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Adhesives And Sealants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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