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The global adhesives & sealants market size was valued at USD 45.02 Billion in 2018, and it is projected to reach USD 66.76 Billion by 2026, exhibiting a CAGR of 5.05 % during the forecast period.
Adhesives & Sealants are particularly used where two materials have to be joined to make a component while maintaining the individual benefits and properties in the composite product. Adhesives are applied between the surface of two or more objects or materials, to hold, fasten, or to bond them together. The durability of bond strength is wholly dependent upon adhesive properties, and thus widely used for permanent, semi-permanent and temporary bonding. Moreover, about sealants, they have lower strength and higher elongation properties than adhesives. The main objective of a sealant is to seal assemblies and joints; they have a paste consistency to allow filling of gaps between substrates.
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The market is segmented based on adhesives & sealants. Moreover, the adhesive segment is sub-segmented by technology and application. On the basis of technology, adhesive is segmented into water-based, solvent-based, hot-melt, reactive, and others. In terms of application, the adhesive is segmented into paper & packaging, building & construction, woodworking, consumer/DIY, automotive & transportation, leather & footwear, and others. In terms of sealants, the market is segmented into resin and application. In terms of resin, the sealant market is segmented into silicone, polyurethane, plastisol, emulsion, polysulfide, butyl, and others. On the basis of application, the sealant market is segmented into building & construction, automotive & transportation, consumer, and others. Water-based adhesive holds the largest share in this market, due to easy availability and low cost as compared to other adhesives. The major applications of adhesive are paper & packaging and others. Sealants are majorly used in the building & construction industry due to its possession of numerous properties, such as maintaining sealing properties for a lifetime and self-adhesion to the substrates and many more.
“Growing Demand from Developing Regions to Drive the Adhesives & Sealants Market”
The tremendous growth in the Asia-Pacific region has significantly overtaken the other regions and is, thus, promising strong growth and expected to drive the adhesives & sealants market trends. The growing middle-class population, especially in China, is generating strong demand in this region due to high demand from the automotive and packaging materials industry. Rapid urbanization and the population growth is propelling the growth in infrastructure & construction activities in Asia-Pacific, which, in turn, is propelling the adhesives & sealants market demand in this region.
Additionally, Asia-Pacific is also attracting investments for localized production, product, and R&D development to enable faster and efficient catering of customer requirements, and maintain long-term competitiveness in this market.
“Water-based Segment to Generate the Highest Revenue During the Forecast Period”
Water-based segment holds a significant share in the market. They are supplied as a pre-mixed solution or are formulated as a dry powder, which producers and distributors mix with water to obtain adhesive properties. As the polymer in the water-based adhesives is soluble in water, the bond formed between them is more susceptible to moisture and water. Water-based additives are flexible, economical, and available in wider varieties than other adhesives and thus have application in various industries such as packaging, paper, plastic, and fabric industries.
Reactive additives segment is expected to grow at a significant rate as they provide tremendous and long-lasting bond in intense moisture and temperature change. This reactive additive is ideally used in cell phones, computers, blood-glucose meters, and others. Thus, increasing demand for high-tech devices is the primary factor driving the demand for reactive additives and boosting the adhesives & sealants market growth.
The hot-melt adhesive segment is expected to grow at a fast rate due to the increasing demand for solvent-free adhesives. Moreover, the hot-melt adhesive provides benefits such as high production speed, short setting time, and smooth surfacing, and can be reactivated by heating and others. Hot-melt adhesive has applications in industries such as furniture, automotive, construction, and packaging.
Silicone sealant is most commonly used sealant as it is much more than a simple glue, and thus hold the largest share in the market. Silicone sealant is a vital component of thousands of products, as it provides advantages such as flexibility, resistance to temperature, water resistance, oil & chemical resistance, and inertness. The major application of silicone sealant is building & construction industry and is expected to increase in the forecast period due to infrastructural developments across the world.
Polyurethane sealant holds a significant share in the global sealant market. Silicone and polyurethane sealants both fall into elastomeric material categories and are used to fill gaps and keep water and air out. Despite these similarities, they have different chemical properties, lifespan, and cost and thus have different types of applications. Polyurethane sealant is used in industries such as building & construction and automotive due to its properties such as quick-drying and moisture resistance.
“Packaging and Building & Construction Segment is Anticipated to Exhibit a Significant CAGR During the Forecast Period”
The paper & packaging segment held the largest share in the global adhesive market. The paper & packaging segment is anticipated to witness ascendant demand in the upcoming years due to rising packaged food market. More than 80% of food packaging contains adhesives, and thus adhesives are indispensable in the food packaging. Also, adhesives have wide application in the bonding of refined paper and finish surfaces, and therefore have significant demand in the paper industry.
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Building and construction holds the largest share in the market. The building & construction sector is on a growth trajectory and is continuously reporting considerable gains in revenue. As a result, the demand for building elements is also rising, boosting the need for sealants and fueling the adhesives & sealants market revenue in the process. Sealants find a variety of applications in flooring, glazing, walls, ceilings and windows, and thus the market for sealant will continue to grow until building & construction industry is increasing.
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The other major applications include automotive & transportation, consumer, and others. Adhesives & sealants demand in automotive & transportation segment is expected to grow at a high rate, owing to an increase in the demand for lightweight, efficient, and eco-friendly cars.
Asia-Pacific is anticipated to remain a key region in the adhesives & sealants market share during the forecast period owing to the rising demand from the building & construction packaging and automotive applications. The market in Asia-Pacific is driven by factors such as rising in population and rising expenditure in the industrial sector. Rising population is augmenting the demand for vehicles, leading to high demand for adhesives & sealants in the automotive industry. Also, rapidly increasing building & construction activities in Asia-Pacific is augmenting the demand for adhesives & sealants.
Asia-Pacific is the largest consumer of adhesives & sealants, and China holds the largest share. China, Japan, and India are key countries contributing to the Adhesives & Sealants market growth in the region owing to the demand from building & construction, and automotive sector in these countries. Moreover, Japanese adhesive companies such as 3M Japan Limited, Alteco Inc., Sika Ltd., and others are constantly into research and development and have made great contributions in adhesive and sealant market in the world.
North America Adhesives & Sealants Market Size, 2018
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The demand for adhesive & sealant in North America is increasing due to higher preference for flexible packaging. Changing trend in consumer behavior and more natural convenience to the manufacturer have benefited the flexible packaging market and have thus further increased the demand for adhesives & sealants in this region.
On the other hand, Europe is projected to witness significant growth in the Adhesives & Sealants market. Henkel, Arkema, and Wacher Chemie AG are the top adhesive companies in Europe and are major contributors in the global market. Stringent environmental regulations in Europe and increasing demand for green adhesives offers lucrative opportunities to the manufacturers, according to the adhesives & sealants market forecast.
The demand for adhesives & sealants in Latin America was negatively affected by the economic downturn. However, the demand has remained stable in this region mainly due to the uptake of these materials from building & construction industry. Iran has the largest market for adhesives & sealants in the Middle East and Egypt is the largest market in Africa in terms of consumption as the building & construction sector is growing tremendously. Thus, the demand is high in this region.
“Market Players like 3M and Arkema S.A. to Strengthen the Market Position by Offering Various Adhesive & Sealant Solutions”
Major producers of adhesives & sealants are located in Europe, but the demand is high from Asia-Pacific, leading to a consolidated market. The producers in North America and Europe are continuously into acquisitions to strengthen their position in the market and to drive the business growth of the organisation. Key players in the market have, therefore, developed strong regional presence, distribution channels, and product offerings.
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A growing trend is observed in the penetration of the Adhesives & Sealants market across the industries.
The adhesives & sealants market report provides qualitative and quantitative insights on the market and a detailed analysis of the size and growth rate for all possible segments that exist in the market. The Adhesives & Sealants market is segmented by technology, resin, application, and geography. Based on technology, the market is classified into water-based, solvent-based, hot-melt, reactive and others. By application, the market is divided into paper & packaging, building & construction, woodworking, consumer/DIY, automotive & transportation, leather & footwear, and others. Based on resins, the market is segmented into silicone, polyurethane, plastisol, emulsion, polysulfide, butyl, and others. On the basis of application, the market is segmented into building & construction, automotive & transportation, consumer, and others. Geographically, the adhesives & sealants market has been analysed across five major regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.
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Along with this, the report provides an elaborative analysis of the Adhesives & Sealants market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in this market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape, and company profiles.
Value (USD Million) and Volume (Kilo Ton)
Adhesive, by Technology
Adhesive, by Application
Sealant, by Resin
Sealant, by Application
Fortune Business Insights says that the market was valued at USD 45.02 billion in 2018 and is projected to reach USD 66.76 billion by 2026.
The market will exhibit steady growth at a CAGR of 5.05% in the forecast period (2019-2026).
Water-based adhesive segment is expected to be the leading technology segment for market during the forecast period.
Increasing demand from the building & construction industry is driving market growth.
Asia-Pacific is expected to hold the highest market share in the market.
Building & Construction application is expected to drive the adoption of adhesives & sealants.
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