Adhesives and Sealants Market earned USD 68.8 billion in 2021 and forecast to reach USD 94.2 billion in 2029, expanding at a CAGR of 4.0% | Size & Global Analysis
Research Reports
Aug 17, 2023
Analysts at GMI Research estimates that the Adhesives and Sealants Market size was worth USD 68.8 billion in 2021, and forecast to touch USD 94.2 billion in 2029, exhibiting at a CAGR of 4.0% from 2022-2029.
Key Adhesives and Sealants Market Trends and Drivers
Adhesives and Sealants Market is majorly driven by adhesives & sealants from construction sector, introduction of high-performance polymers, growing use of composites and changes in material consumption patterns in the packaging industry. Increasing urbanization and growing population growth rates in developing countries is boosting the residential construction activities around the world. Thus, governments in various countries are setting laws, which focusses on the usage of environment friendly and sustainable adhesives and sealants, which is creating growth opportunities for adhesives & sealants market. Major companies are already developing such types of adhesives to comply with regulations, for instance, Henkel, is providing adhesives like H4710, H4500 and H3151, which offers excellent environmental resistance.
Climate change is one of the major reasons, driving the construction of green buildings as construction activities produces significant amount of greenhouse gas emissions in the air. As per United Nation’s report, Building construction industry accounts for around 38% of all energy-related carbon dioxide emissions. Thus, Countries worldwide are focussing on the construction of green buildings to combat climate change, which in turn will create lucrative opportunities for adhesives and sealants market in coming years.
Based on Application, Construction segment is projected to hold the largest adhesive and sealants market share.
In some cases, sealants are also used as adhesives. For instance, sealants can be used for structural gazing on glass-walled windows. Though adhesives don’t have high tensile strength like adhesives, but due to its high durability features, it can work efficiently in conditions like high humidity or electrical stress, which is increasing its adoption in Construction adhesives and sealants market. Automotive adhesives and sealants market is driven by increasing use of adhesives for joining seats, tailgates and bumpers. Additionally, increasing demand for passenger vehicles in developing countries, is acceelratingg the use of adhesives and sealants in the automotive industry.
Based on Region, Asia-Pacific region is projected to dominate the market.
APAC sealants and adhesives market is propelled by growing per capita incomes, rapid economic growth in the region and rise in government’s expenditure on infrastructure projects.
Top Adhesive Companies in the World
Some of the leading players operating in the global adhesives and sealants market are Arkema, HUNTSMAN, Illinois Tool Works Inc., 3M, Henkel AG & Co. KGaA, H.B. Fuller Company., AVERY DENNISON CORPORATION, Dow, Sika AG, and Wacker Chemie AG, among others.
Key Developments:
• In February 2020, Henkel AG & Co. KGaA, a major chemical company based in Germany launched its new manufacturing facility in India. This expansion will help company to meet increasing demand for high-performance sealants and surface treatments products from different industries in India.
• In November 2020, H.B. Fuller Company an American adhesive manufacturing company launched its Full-Care 5885 to cater the demand for increasing natural hygiene products.
Market Segmentation
Segmentation by Technology
o Water-Based
o Solvent-Based
o Hot-Melt
o Reactive
o Others
Segmentation by Product
o Acrylic
o Polyvinyl Acetate
o Polyurethanes
o Styrenic Block
o Epoxy
o Ethylene-Vinyl Acetate
o Others
Segmentation by Application
o Packaging
o Construction
o Furniture
o Footwear
o Automotive
o Others
Segmentation by Region
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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Pressure sensitive adhesives market
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Contact Information:
Media Contact Company Name: GMI RESEARCH Contact Person: Sarah Nash Email: enquiry@gmiresearch.com Phone: Europe – +353 1 442 8820; US – +1 860 881 2270 Address: Dublin, Ireland Website: https://www.gmiresearch.com/
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