The global adhesives and sealants market was valued at $51.9 billion in 2020, and is projected to reach $85.0 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
An adhesive is a chemical mixture that joins two surfaces together to form a single unit, whereas a sealant is a semisolid material used to prevent fluid leakage. Adhesives possess high shear and tensile strength that makes them best-suited for holding- and bonding-related applications. On the other hand, sealants are used to fill gaps and resist relative movement of substrates Adhesives and sealants are formulated with similar chemicals and technologies, and are used in a wide range of sectors, such as paper packaging, woodworking, footwear manufacturing, building & construction, electrical & electronics, automotive, and others
Growing population and rise in urbanization have led the governments of both, developed and developing economies to increase spending on the building & construction sector, where adhesives & sealants are widely employed for bonding applications in window frames, panels, wall curtains, ceilings, and other places. This is expected to aggressively penetrate and boost the demand for adhesive & sealant in the growing building & construction industry. In addition, increase in disposable income has surged the growth of the automobile sector where adhesives & sealants are widely used for bonding windshields, sealing electrical components, sensors, switches and relays, electric motors, and other components. This factor is expected to positively drive the growth of the adhesives and sealants market in the coming years.
However, several regulatory bodies, such as the United States Environmental Protection Agency (US EPA) and European Union Legislation have laid down norms and regulations to control the use of harmful or organic compounds in manufacturing adhesives & sealants. This is expected to hamper the growth of the adhesives and sealants market during the forecast period.
On the contrary, increasing regulations and growing public awareness have made key manufacturers to produce non-hazardous, green, and sustainable adhesives & sealants. For instance, Henkel AG & Co. KGAA offers sustainable polyurethane adhesives with no-added formaldehyde for sustainable bonding applications in building products. Furthermore, to comply with the global trends of sustainability, Sika AG, a leading manufacturer of structural adhesives is investigating sustainable options for its adhesive products. Also, according to an article published by a project procurement community named, B2B Purchase, the buyers are cognizant of opting for environmental friendly materials. Thus, the emergence of non-hazardous and sustainable adhesives & sealants may offer remunerative opportunities for the market in the coming future.
The adhesives and sealants market analysis is done on the basis of product type, application, and region. Depending on product type, the market is divided into adhesive and sealant. On the basis of application, it is fragmented into paper board & packaging, building &construction, woodworking & joinery, transportation, footwear & leather, medical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global adhesives and sealants market profiles leading players, such as Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal, Inc.
The global adhesives and sealants market report provides in-depth competitive analysis as well as profiles of these major players.
2. BASF SE
3. Evonik Industries AG
4. H.B. Fuller
5. Henkel AG & Co. KGAA
6. Lord Corporation
7. Scott Bader Co.
8. Sika AG
9. The 3M Company
10. Uniseal, Inc.
An adhesive is a chemical mixture that joins two surfaces together to form a single unit, whereas a sealant is a semisolid material used to prevent fluid leakage. Adhesives possess high shear and tensile strength that makes them best-suited for holding- and bonding-related applications. On the other hand, sealants are used to fill gaps and resist relative movement of substrates Adhesives and sealants are formulated with similar chemicals and technologies, and are used in a wide range of sectors, such as paper packaging, woodworking, footwear manufacturing, building & construction, electrical & electronics, automotive, and others
Growing population and rise in urbanization have led the governments of both, developed and developing economies to increase spending on the building & construction sector, where adhesives & sealants are widely employed for bonding applications in window frames, panels, wall curtains, ceilings, and other places. This is expected to aggressively penetrate and boost the demand for adhesive & sealant in the growing building & construction industry. In addition, increase in disposable income has surged the growth of the automobile sector where adhesives & sealants are widely used for bonding windshields, sealing electrical components, sensors, switches and relays, electric motors, and other components. This factor is expected to positively drive the growth of the adhesives and sealants market in the coming years.
However, several regulatory bodies, such as the United States Environmental Protection Agency (US EPA) and European Union Legislation have laid down norms and regulations to control the use of harmful or organic compounds in manufacturing adhesives & sealants. This is expected to hamper the growth of the adhesives and sealants market during the forecast period.
On the contrary, increasing regulations and growing public awareness have made key manufacturers to produce non-hazardous, green, and sustainable adhesives & sealants. For instance, Henkel AG & Co. KGAA offers sustainable polyurethane adhesives with no-added formaldehyde for sustainable bonding applications in building products. Furthermore, to comply with the global trends of sustainability, Sika AG, a leading manufacturer of structural adhesives is investigating sustainable options for its adhesive products. Also, according to an article published by a project procurement community named, B2B Purchase, the buyers are cognizant of opting for environmental friendly materials. Thus, the emergence of non-hazardous and sustainable adhesives & sealants may offer remunerative opportunities for the market in the coming future.
The adhesives and sealants market analysis is done on the basis of product type, application, and region. Depending on product type, the market is divided into adhesive and sealant. On the basis of application, it is fragmented into paper board & packaging, building &construction, woodworking & joinery, transportation, footwear & leather, medical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global adhesives and sealants market profiles leading players, such as Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal, Inc.
The global adhesives and sealants market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits for Stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
- It outlines the current trends and future estimations of the market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study
- The profiles of key players and their key strategic developments are enlisted in the report
Key Market Segments
By Product Type
- Adhesive
- Sealant
By Application
- Paper Board & Packaging
- Building & Construction
- Woodworking & Joinery
- Transportation
- Footwear & Leather
- Medical
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key players in the global adhesives and sealants market are:
1. Arkema S.A.2. BASF SE
3. Evonik Industries AG
4. H.B. Fuller
5. Henkel AG & Co. KGAA
6. Lord Corporation
7. Scott Bader Co.
8. Sika AG
9. The 3M Company
10. Uniseal, Inc.
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Adhesives and Sealants Market, by Product Type
Chapter 5: Adhesives and Sealants Market, by Application
Chapter 6: Adhesives and Sealants Market, by Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, Adhesives and Sealants Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global adhesives and sealants market was valued at $51.9 billion in 2020, and is projected to reach $85.0 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030”.An adhesive is a chemical mixture that joins two surfaces together to form a single unit, whereas a sealant is a semisolid material used to prevent fluid leakage. Adhesives and sealants are formulated with similar chemicals and technologies, and are used in a related range of applications. Although they are considered as a single industry, their performance is distinct across end applications.
Increasing awareness for hygiene-related activities has surged the growth of the packaging sector where adhesives & sealants are widely used for paper bonding applications. This is expected to fuel the growth of the adhesives and sealants market during the forecast period. Furthermore, factors such as growing population, rise in urbanization, and increasing government spending has led the building & construction sector to witness a significant growth where adhesives & sealants are widely used to fill cracks, openings, and seal joints. This has led to rise in popularity of adhesive & sealant in building & construction sector; thus boosting the growth of the adhesives and sealants market.
However, manufacturing of adhesives and sealants emit volatile organic compounds (VOCs) during their manufacturing process that can cause several health-related disorders, such as conjunctival irritation, shortness of breath, fatigue, dizziness, skin problems, and others. Furthermore, several regulatory bodies such as the United States Environmental Protection Agency (US EPA) and European Union Legislation have laid down norms and regulations to control the use of harmful or organic compounds in manufacturing adhesives & sealants. This factor may restrain the growth of the adhesives and sealants market during the forecast period.
On the contrary, the emergence in use of non-hazardous, green, and sustainable adhesives & sealants is expected to offer major opportunities to the global adhesives and sealants market.
The adhesives and sealants market is segmented on the basis of product type, application, and region.
By product type, the market is segregated into adhesive and sealant. The adhesive segment dominated the global market, in terms of revenue in 2020, with 86.0% of the total share. This is attributed to increase the demand for adhesive among various end-use sectors, such as building & construction, packaging, woodworking & joinery, automotive, and others.
By application the global market is divided into paper board & packaging, building & construction, woodworking & joinery, transportation, footwear & leather, medical, and others. The building & construction segment dominated the global market, in terms of revenue in 2020, with 31.45% of the total share. This is attributed to the increasing spending on infrastructure development activities in both developed and developing economies where adhesives & sealants are widely used for bonding window frames, doors, curtain walls, floor ceilings, and others.
Region-wise, the adhesives and sealants market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific adhesives and sealants market size is projected to grow at the highest CAGR during the forecast period, owing to rise in building & construction, packaging, and automotive sectors that have enhanced demand for adhesive & sealant in Asia-Pacific. Moreover, the packaging sector is witnessing a rapid growth, owing to rise in awareness for hygiene-related activities where adhesive & sealant is widely used for paper bonding applications. Furthermore, countries such as India, China, and others are witnessing a rapid surge in building & construction activities where adhesives and sealants are primarily used to fill cracks, openings, and seal joints. These factors may propel the growth of the adhesives and sealants market in this region.
Key players operating in the global adhesives and sealants market include Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal, Inc.
COVID-19 analysis
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The adhesives and sealants market is negatively impacted due to the wake of the COVID-19 pandemic owing to its dependence on automotive, aerospace, building & construction, and other sectors. According to a report published by National Center of Information (NCI), the automotive industry witnessed 30% decline in sales in March 2020 as compared to March 2019, owing to lockdowns and shutdowns of auto plants. Also, several automotive companies have either shutdown or shrank their operations due to the risk of infections among the workforce where adhesive & sealant are used as a prime bonding material for hoods, grills, interior panels, and other vehicle parts. This has temporarily hampered the demand for adhesives and sealants market amid the COVID-19 period. In addition, the falling income of customers and international travel restrictions has led to contraction of the demand of adhesive & sealant among the aerospace sectors. For instance, according to a report published by Airlines for America, the commercial airline passenger volume in September 2020 was 68% less than September 2019, affecting long-term existential threat to manufacturers, the supply chain, and to the entire air travel industry. Also, COVID-19 has put a temporary break on various aircraft manufacturing projects, which in turn shrunk the demand for adhesive & sealant in the aerospace & aviation sector. In addition, the adhesives and sealants market has witnessed a downfall in demand among the construction sectors, owing to temporary halt on various building and construction project during the COVID-19 period.
Key Findings Of Study
- The sealant segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 50% from 2021 to 2030
- The medical segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 60% from 2021 to 2030
- Asia-Pacific garnered the highest share of 41.9% in 2020, in terms of revenue, growing at a CAGR of 56% from 2021 to 2030
Companies Mentioned
- Arkema S.A.
- BASF SE
- Evonik Industries AG
- H.B. Fuller
- Henkel AG & Co. KGAA
- Lord Corporation
- Scott Bader Co.
- Sika AG
- The 3M Company
- Uniseal, Inc.
Methodology
The analyst offers 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. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 550 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 51.9 billion |
| Forecasted Market Value ( USD | $ 85 billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
