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.
Adhesive bonding offers numerous advantages over traditional mechanical fastening methods, including improved aesthetics, weight reduction, increased design flexibility, and enhanced performance. Industries are increasingly recognizing the benefits of adhesive bonding in terms of efficiency, durability, and cost-effectiveness. This shift from mechanical fastening to adhesive bonding across industries like automotive, aerospace, and electronics fuels the demand for adhesives and sealants.
Furthermore, continuous advancements in adhesive and sealant technologies have significantly expanded their capabilities. Innovations such as improved bonding strength, faster curing, higher temperature resistance, and enhanced flexibility have widened the scope of adhesive and sealant applications. Technological advancements continue to drive product development and customization to meet specific industry requirements, stimulating market growth.
Moreover, manufacturers of adhesives and sealants are investing in research and development to introduce advanced products with improved performance, durability, and efficiency. Continuous innovation enables the development of adhesives and sealants that can bond to a wide range of substrates, withstand extreme environments, and offer specialized properties. R&D activities drive market growth by expanding the application possibilities and improving overall product quality.
Increase in technical advancements and R&D activities has surged the demand for a wide range electrical & electronic devices such as tablets, smartphones, laptops, and others where adhesives and sealants are widely used for bonding various components. This acts as one of the key drivers for the growth of the adhesives and sealants market. Furthermore, factors such as growing population, rise in urbanization, and increase in 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 the rise in popularity of adhesive & sealant in building & construction sector; thus boosting growth of the adhesives and sealants market.
However, manufacturing of adhesives and sealants emit volatile organic compounds (VOC) that can cause several health-related disorders, such as conjunctival irritation, shortness of breath, fatigue, dizziness, skin problems, and others. Also, the exposure of volatile organic compounds (VOC) in high concentrations may cause irritation to the lungs, damage the liver, kidneys, central nervous system, and may lead to other chronic diseases. In addition, the increasing regulatory pressure and growing public awareness regarding health issues and adverse environmental effects have lowered the demand for VOC- containing products. 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. These factors together are anticipated to shrink the demand for adhesives & sealants in various end use sectors; thus restraining the market growth. Additionally, the adhesives and sealants market lack consistent standards and specifications, making it challenging for end-users to select appropriate products for their specific needs. The absence of standardized testing methods and performance benchmarks can result in discrepancies in product performance and hinder the adoption of adhesives and sealants.
On the contrary, increase in 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 in 2019, the buyers are cognizant of opting for environment-friendly materials. Thus, the emergence of non-hazardous and sustainable adhesives & sealants are expected to offer remunerative opportunities for the market in the coming future.
The adhesives and sealants market analysis is segmented on the basis of product type, application, and region. On the basis of 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 major companies profiled in this report 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.
By Region
Asia-Pacific would exhibit highest CAGR of 5.6% during 2021-2030.
Adhesive & Sealant Market, By Region
The Asia-Pacific adhesives and sealants market size is projected to grow at the highest CAGR of 5.6% during the forecast period, and accounted for 41.9% of the adhesives and sealants market share in 2020.
This is attributed to increase in demand for adhesive & sealant in building & construction, automotive, packaging, electrical & electronics, and other industries in Asia-Pacific. Furthermore, manufacturers across the globe find Asia-Pacific as an attractive market, owing to cheap labor cost, low cost of setting up manufacturing units, and low cost of adhesive & sealant. These factors drive the adhesives and sealants market in this region.
By Product Type
Sealant is the most lucrative segment
Adhesives And Sealants Market, By Product Type
The adhesive segment accounted for 86.04% of the adhesives and sealants market share in 2020 and is projected to grow at the CAGR of 5.0% during the forecast period adhesives and sealants market. This is attributed to the rise in demand for adhesives manufacturing tapes & labels, general purpose repair, gift wrapping & decoration, heavy-duty carton sealing, and stationery activities. Furthermore, increase in awareness for hygiene-related activities has surged the growth of the packaging sector where adhesives are widely used for packaging of drug delivery system, construction materials, automotive & logistics, and other consumer and industrial goods. This factor escalates the growth of this segment in the global adhesives and sealants market.
By Application
Medical is projected as the fastest growing segment
Adhesives And Sealants Market, By Application
By application, the building & construction segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 5.0% during the forecast period. This is attributed to factors such as growing population and rapid urbanization which in turn has led the building & construction sector to witness a significant increase in demand where adhesives & sealants are used to fill cracks, openings, and seal joints. This may propel growth of the building & construction segment in the global adhesive & sealant market.
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 adhesives and sealants market trends and future estimations from 2021 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.
Impact Of Covid-19 On Global Adhesives And Sealants Market
- 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 has been 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.
- The ongoing health crisis has increased the supply-demand gap, hampering the global adhesive & sealant supply chain.
- Also, several automotive companies have either shutdown or shrank their operations due to the risk of infections among the workforce. Adhesive & sealant are used as a prime bonding material for hoods, grills, interior panels, and other vehicle parts, and this has temporarily hampered the growth of the 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.
- Furthermore, COVID-19 has put a temporary break on various aircraft manufacturing projects, which in turn declined the demand for adhesive & sealant in the aerospace & aviation sector.
- However, dependence of adhesive & sealant on healthcare and packaging sector is expected to lead the adhesives and sealants market to recover soon post the COVID-19 pandemic. For instance, according to a report published by the U.S. National Library of Medicine, packaging sector in the U.S. witnessed a growth rate of 44% in April 2020 as compared to April 2019.
Adhesives and Sealants Market Report Highlights
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Analyst Review
The global adhesive & sealant market is expected to exhibit high growth potential. Adhesives & sealants are used for bonding applications in a variety of end-use sectors, such as packaging, building & construction, automotive, aerospace, woodworking & joinery, and others. Applications that require prevention of fluids and other substances from passing through surfaces and mechanical joints can be accomplished with the use of adhesives & sealants. In addition, adhesives & sealants enhance the thermal resistance, UV resistance, and abrasion resistance of the system and prevent the bonded material from being damaged due to dynamic loads. This increases the shelf-life of the bonded material. Furthermore, oxidation and corrosion resistance properties of adhesives & sealants enable consumers to use them in corrosive atmospheres.
In addition, adhesives & sealants are widely used as sealing and waterproofing agents to eliminate the effect of self-loosing of the underlying sealed substrate caused by exposure to varying moisture atmosphere.
This has made customers more linear toward purchasing adhesives & sealants for waterproofing applications in the building & construction sector.
The sustained economic growth and the development of the food packaging sector have surged the popularity of adhesives & sealants globally.
The increasing potential applications of adhesives and sealants in several end use sectors such as building & construction, electrical & electronics, aerospace & aviation, automotive, and others is the key factors boosting the adhesives and sealants market growth.
The global adhesives and sealants market was valued at $57.1 billion in 2022 and is projected to reach $85.0 billion by 2030.
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 are the key players in the global adhesives and sealants market.
Industries such as paper & board packaging, building & construction, wood working & joinery, transportation, footwear & leather, medical, and others may increase the demand for adhesives and sealants market.
The global adhesive & sealant market analysis is done segmented on the basis of product type, application, and region. On the basis of 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 analysed across North America, Europe, Asia-Pacific, and LAMEA.
Escalating demand from building & construction sector, increasing demand from automotive sector and robust demand from electrical & electronics sector are the main drivers of the adhesives and sealants market.
End use industries such as packaging, building & construction, electrical & electronics, automotive, and others are expected to drive the adoption of adhesives and sealants market during the forecast period.
The adhesives and sealants market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the building & construction, automotive, transportation, aerospace & aviation, and other sectors. In 2022, adhesives and sealants prices are expected to be higher in Asia-pacific. The price rise will be due to continued regional demand trends and tight product availability. Firm downstream demand for adhesives & sealants and stronger upstream costs are expected to sustain the price gain.
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