Adhesives and Sealants Market: Global Industry Analysis and Forecast (2022-2029) Trends, Statistics, Dynamics, Segmentation

Adhesives and Sealants Market was valued at US$ 91.07 Bn. in 2021 and is expected to reach at US$ 129.8 Bn in 2029. Global Adhesives and Sealants Market size is expected to grow at a CAGR of 4.53 % through the forecast period.
Adhesives and Sealants Market Overview:
Adhesives are substances which are capable of holding at least two surfaces together in a strong and permanent manner, whereas Sealants are substances which are capable of attaching to at least two surfaces, thereby, filling the space between them to provide a barrier or protective coating. It can be deduced from these definitions that, while they are similar in function, they each have a distinct application purpose.

Adhesives are used to adhere different materials to form a single substance by binding them together and resisting their separation, whereas sealants are utilized to block the movement of fluids through openings or joints of a material. They offer excellent corrosion resistance at low cost, enhanced fatigue, and impact resistance to the product. Moreover, excellent flexibility, homogeneous distribution, and durable nature are the important trends and factors influencing the market confidently. Adhesives have strong shear and tensile strength, making them viable bonding materials for high-pressure situations.

A sealant is generally lower in strength compared to an adhesive and is also used for a different purpose. Sealants are often used to fill gaps and resist relative movement of the surfaces to which they are applied. Even though adhesives are generally stronger, sealants provide the assembly with much more flexibility. Examples of sealants can be acrylic systems, silicones, and urethanes.

The report explores the Global Adhesives and Sealants Market segments (By Technology, By Product, By Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Global Adhesives and Sealants Market drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Global Adhesives and Sealants Market contemporary competitive scenario.



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COVID-19 Impact on Adhesives and Sealants Market:
COVID-19 has posed many challenges for the automotive sector. The major industrialized economic countries such as the US, Germany, the UK, Italy, South Korea, Spain, and Japan have adverse effect due to the COVID-19 pandemic. According to a study by Boston Consulting Group, despite encouraging reports on progress toward a vaccine, numerous risks remain. It is projected that the sales in Europe and the US will not rebound to pre-COVID levels until 2023 at the earliest.

COVID-19 has posed many challenges in the construction sector. Social distancing measures, supply chain disruptions, and workforce dislocation have led to the suspension of construction activities in most countries. Due to the disruptions in supply chains and shortage of raw materials and labor, the construction sector had adverse effect during the pandemic. Construction companies with high debts and lower cash reserves faced a liquidity crisis. However, the construction of temporary hospitals and quarantine centers increased with this outbreak of coronavirus. These all factors lead to the obstruction of the growth of the Global Adhesives and Sealants Market during the COVID-19 pandemic.
Adhesives and Sealants Market Dynamics:
The growing population and urbanization are the factors which are driving the residential construction segment in developing countries such as China, India, Indonesia, Vietnam, Brazil, and Mexico. There is an increasing demand for permanent houses in these countries, which, in turn, is driving the demand for adhesives & sealants. There are various applications of adhesives & sealants in the construction industry, such as carpet, tiling, wallpapers, and exterior insulation systems. Adhesives & sealants are also used to hold curtain wall panels and insulating glass units in place.

In addition, various product innovations, such as the development of water-based adhesives and organic solvents that are environment-friendly and exhibit higher bonding strength, are contributing to the market growth. The increasing requirement for adhesives and sealants for bonding dissimilar materials is also boosting the market growth. These binding agents are rapidly replacing mechanical fasteners, such as welds, screws, rivets, gaskets and fasteners, thereby enabling the product manufacturers to produce lightweight and compact components.

The medical industry and healthcare sector has also led to the growth of the Global Adhesives and Sealants Market. The field of medical adhesives is vast in terms of options and applications, ranging from silicones and epoxies to acrylic-based adhesives. Medical adhesives have thrived as new medical treatments and technology have emerged, incorporating themselves into the designs of numerous medical equipment. Medical adhesives are now used to reliably bond components using materials that were previously difficult to bond in assembly manufacturing processes. People all around the world are becoming more conscious and aware about the healthcare services. The healthcare industry is growing where the market is unexplored and has enormous growth potential particularly in emerging economies, such as China and India during the forecast period. The expanding global health care industry will, in turn, benefit and drive the growth of the medical adhesive market.

Europe and North America are strictly regulated by environmental laws regarding the production of chemical and Petro-based products. Agencies such as the Epoxy Resin Committee (ERC) and the European Commission (EC) govern the manufacturing of solvent-based products in these regions. This is affecting the production capacities of manufacturers in Europe and North America. The stringent environmental regulations are compelling manufacturers to focus on producing eco-friendly adhesives. This leads to restrain the growth of the Global Adhesives and Sealants Market.

The excessive amount of chemicals which are used in the production of adhesive and sealants is restraining the market growth. The application of adhesives and sealants emits abundant chemical gases, which are considered to be harmful and hazardous when inhaled. Thus, the regulations imposed on their usage are becoming stricter and affecting the market growth. Moreover, the rising consumer awareness about health and the environment has become a prominent concern for manufacturers. According to the Vice President of Emerald Performance Materials, "The regulatory landscape is creating significant challenges for the industry. Environment protection agencies, such as the U.S. Environmental Protection Agency, are taking different measures and are placing more hurdles and restrictions on manufacturers." These all factors lead to obstruct the growth of the Global Adhesives and Sealants Market during the forecast period.

The stringent regulations by the USEPA (the United States Environmental Protection Association), Europe’s Registration, Evaluation, Authorisation and Restrictions of Chemicals (REACH), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities have compelled adhesive & sealant manufacturers to make eco-friendly products with no- or low-VOC levels. The shift toward more sustainable products has provided significant growth opportunities for manufacturers. Leading adhesives & sealants company, Henkel, offers products such as H4500, H4710, H4720, and H3151, which are solvent-free and comply with environmental regulations. There is a growing demand for environmentally-friendly or green buildings, which gives an opportunity for the development of green and sustainable adhesive solutions made from renewable, recycled, remanufactured, or biodegradable materials.

The emergence of non-hazardous and sustainable adhesives & sealants is expected to offer various new opportunities for the market in the coming future. Significant growth in the automotive, aerospace, construction, electronics and packaging industries is one of the key factors creating a positive outlook for the market. These binding agents are rapidly replacing mechanical fasteners, such as welds, screws, rivets, gaskets and fasteners, thereby enabling the product manufacturers to produce lightweight and compact components which are providing the opportunities to drive the growth of the Global Adhesives and Sealants Market.

The Shifting rules and changing standards is the biggest challenge which are faced during the growth of the Global Adhesives and Sealants Market. The adhesives & sealants market undergoes frequent changes in terms of standards and rules. The Construction Products Regulation (CPR) implemented new regulations such as regulation (EU) No 305/2011 for the marketing of construction products in the EU. With the new regulations, manufacturers have to bear the additional burden, in terms of labelling and paperwork, and additional external test costs to demonstrate compliance. Additional substance alerts focusing on biocides and waste packaging occur on a regular basis, leading to changes in regulatory standards. The adhesives & sealants manufacturers have to abide by the rules and changing standards to commercialize their products. This poses a challenge for manufacturers.
Key Trends:
• In March 2021: DriTac's flooring adhesives business was bought by Sika. DriTac is a floor covering adhesives firm basechin the U.S. specializing in wood floor bonding. The purchase will allow Sika to expand its footprint among floor covering installers and distributors as well as accelerate Sika's growth in the interior finishing sector in the U.S.

• In June 2021: Loctite EA 9365FST, a REACH-compliant structural adhesive for airplane interiors, was developed by Henkel. The Loctite EA 9365FST is a new two-part epoxy adhesive that strengthens and bonds thermoplastic and thermoset substrates. It can be used on fiberglass as a matrix resin to reinforce the thin walls of thermoplastic components.

• In December 2021: Arkema announced that it would acquire Permoseal in South Africa. Permoseal make adhesives for woodworking, packing, building, and do-it-yourself projects. Its comprehensive variety of high-performance adhesive solutions will complement Bostik's regional offering, enhancing their positions in the booming industrial, construction, and DIY industries of South Africa and Sub-Saharan Africa.
Adhesives and Sealants Market Segment Analysis:
Based on Technology, The segment water-based adhesives are expected to dominate the market with the highest market share with xx% in the year 2021. This is owing to inkling of major end-user industries namely packaging and construction toward water-based adhesive products; as solvent-based adhesive products are highly prone to volatile organic compound (VOC) emissions. Water-based adhesive forms a bond between two substrates once the water in the formulation evaporates. The product is eco-friendly as it contains water rather than solvents pertaining to its increased demand for industrial applications for packaging and bottling. Water-based adhesives are generally premixed solution in powder form which are mixed with water for its application. The bond formed offers low temperature bond strength, high flexibility and is low cost. Plastic, rubber and metal adhesion can be achieved by the usage of the product owing to its application in automotive industry.



Based on Product, The segment polyurethane is expected to grow with the highest CAGR of XX% during the forecast period, in terms of volume. The technologies which are widely used for both new construction and renovation projects are polyurethane sealants. These sealants are available in single and multi-component formulations. These sealants provide better tentability, adhesion, and abrasion resistance than silicone sealants. They are commonly used in automotive, parking deck & sidewalk sealing, construction, and marine applications. These all factors lead to the growth of the polyurethane sealants in the Global Adhesives and Sealants Market.



Based on application, the packaging segment is dominating the market with the highest market share in the year 2021. Sealants offer high cohesive strength and resistance to water, rain and other weather conditions. The product features show wide application in food delivery and packaging services which should drive the sealant market growth. Sealants provides resistance to UV, low temperature resistance for freeze packing and blocking resistance for liquid products owing to its wide application in food industry and these factors lead to the growth of the market.



The food industries have wide application of the product in manufacturing of liquid food products including tetra pack juices. Moreover, growing regulations for health and safety should boost the adhesives and sealants market revenue. Online retail shopping has increased at a higher rate with rising internet technologies and web applications, which has largely supported the growth of the packaging industry.
Adhesives and Sealants Market Regional Insights:
The Asia-Pacific region is expected to witness significant growth at a CAGR of XX% through the forecast period because of the Increase in the number of female workers, rise in dual income nuclear families, growth in disposable income, and higher per capita expenditure on social and cultural factors. Also, there is a rise in the government funding for public welfare in the region. Due to the increasing domestic demand, rising income levels, and easy access to resources, this region is considered to be the fastest-growing market in the Global Adhesives and Sealants Market.

The automotive & transportation industry is one of the major consumers of adhesives & sealants in this region. The economic growth in the Asia Pacific region, particularly in the emerging markets such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is contributing to the increase in the number of infrastructure projects, which leads to drive the growth of the Global Adhesives and Sealants Market. Sealants are used to prevent passage of dust, fluids and insects which is widely used in construction industry.

The objective of the report is to present a comprehensive analysis of the Global Adhesives and Sealants Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Adhesives and Sealants Market dynamic, structure by analyzing the market segments and projecting the Global Adhesives and Sealants Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Adhesives and Sealants Market make the report investor’s guide.
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Global Adhesives and Sealants Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 91.07 Bn.


Forecast Period 2022 to 2029 CAGR:
4.53%
Market Size in 2029:
US $ 129.8 Bn.


 Segments Covered:
by Technology
• Water-based
• Solvent-Based
• Hot melt
• Reactive


by Product
• Acrylic
• PVA
• Polyurethane
• Styrenic Block
• Epoxy
• Others


by Application
• Pressure Sensitive
• Packaging
• Construction
• Furniture
• Others



Adhesives and Sealants Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Adhesives and Sealants Market Key Players
• 3M Co.
• Adhesive Technologies Corp.
• American Biltrite Inc.
• American Chemical Inc.
• Arkema Group
• Ashland Inc.
• Beardow & Adams Ltd
• Benson Polymers Ltd.
• DowDuPont
• Dymax
• Franklin International
• H.B. Fuller Co
• Henkel AG & Co. KGaA
• Huntsman Corp.
• ITW Performance Polymers
• Jowat AG
• LORD Corp.
• Mapei Spa
• Master Bond
• Ninghai Dingcheng Adhesive Co. Ltd.
• Permabond Engineering Adhesives Ltd.
• Pidilite Industries Ltd.
• Sika AG
• The Reynolds Co.
• Wacker Chemie AG
• Yokohama Industries

Frequently Asked Questions:

1] What segments are covered in the Global Adhesives and Sealants Market report?
Ans. The segments covered in the Global Adhesives and Sealants Market report are based on Product, Technology and Application.

2] Which region is expected to hold the highest share in the Global Adhesives and Sealants Market?
Ans. Asia-Pacific region is expected to hold the highest share in the Global Adhesives and Sealants Market.

3] What is the market size of the Global Adhesives and Sealants Market by 2029?
Ans. The market size of the Global Adhesives and Sealants Market by 2029 is expected to reach US$ 129.8 Bn.

4] What is the forecast period for the Global Adhesives and Sealants Market?
Ans. The forecast period for the Global Adhesives and Sealants Market is 2022-2029.

5] What was the market size of the Global Adhesives and Sealants Market in 2022?
Ans. The market size of the Global Adhesives and Sealants Market in 2021 was valued at US$ 91.07 Bn.