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Adhesives and Sealants Market to Surge at 4.6% CAGR from 2023 to 2030; Escalating Deployment of Adhesive Tapes in Engineering to Boost Industry Growth

January 23, 2024 | Chemicals & Materials

The global adhesives and sealants market size stood at USD 76.08 billion in 2022. The market value is slated to rise from USD 79.38 billion in 2023 to USD 108.64 billion by 2030 at a CAGR of 4.6% during 2023-2030. Fortune Business Insights™ presents this information in its report titled “Adhesives and Sealants Market Size, Share & COVID-19 Impact Analysis, By Adhesive Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive, and Others), End-use Industry (Paper & Packaging, Building & Construction, Woodworking, Consumer/DIY, Automotive & Transportation, Leather & Footwear, and Others)], By Sealant Resin (Silicone, Polyurethane, Emulsion, Polysulfide, and Others), End-use Industry (Building & Construction, Automotive & Transportation, Consumer, and Others)], and Regional Forecast, 2023-2030”.


Adhesives and sealants are extensively deployed across various industries, which include aerospace, automotive, construction, and electronics. The launch of new design techniques and technologies is expected to drive product adoption in the construction sector, boosting industry growth.


Diversion of Raw Materials toward Essential Goods’ Production Hampered Industry Expansion during COVID-19 Pandemic


The pandemic period witnessed the diversion of raw materials toward the production of essential goods such as cleaning products and sanitizers. Besides, the construction industry, which is a major consumer of the adhesives and sealants, was severely impacted on account of lockdown restrictions. These factors restrained the market growth during the pandemic.


Arkema Concluded its Takeover of Ashland’s Performance Adhesives Division


In February 2022, Arkema finalized the takeover of the performance adhesives business owned by Ashland. The move signified a key step in the company’s plan to strengthen its adhesive solutions segment.


According to Arkema, the strengthened segment would play a critical role in implementing its ambition of emerging as a leading player in the innovative materials space.  


Market Value to Surge with Growing Adhesive Tapes Adoption in Engineering Application


One of the key factors driving the adhesives and sealants market growth is the soaring deployment of adhesive tapes across a range of engineering applications, including aviation, automotive, and others. The products are gaining traction driven by the low costs of production and labor. The tapes serve as an alternative to mechanical fasteners for various assemblies.


However, the enforcement of stringent environmental regulations associated with the product deployment may hinder the industry expansion.


Market Players Develop Robust Regional Presence to Maintain Industry Positions


Industry players are keen to adopt numerous steps for maintaining their market positions. In a bid to achieve this objective, adhesives and sealants companies are developing new products and strengthening their distribution channels. In addition, market players are also establishing a strong presence at the regional levels.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/adhesives-and-sealants-market-101715


List of Key Players Profiled:



  • 3M (U.S.)

  • Arkema S.A. (France)

  • Henkel Corporation (Germany)

  • Ashland Inc. (U.S.)

  • Avery Dennison (U.S.)

  • BASF SE (Germany)

  • Evonik Industries (Germany)

  • H.B. Fuller Company (U.S.)

  • PPG Industries (U.S.)

  • RPM International Inc. (U.S.)

  • Sika AG (Switzerland)

  • Wacker Chemie AG (Germany)   


Key Industry Development



  • December 2021 – Sika shared plans to establish a new manufacturing facility and technology center in Pune. The move would help cater to the rising product demand from the Indian market. The company would produce solutions for the renewable energy, construction, and transportation sectors on the new manufacturing lines.


Further Report Findings



  • The Asia Pacific market size stood at USD 28.27 billion in 2022. The regional adhesives and sealants market share is poised to dominate the global market over the study period. The regional expansion can be attributed to the growing expenditure in the industrial sector and the escalating number of building & construction activities.  

  • The Europe market for adhesives and sealants is set to grow owing to the soaring product demand from the automotive sector. The regional expansion is favored by an upsurge in the sales of motor vehicles.

  • By adhesive end-use industry, the market for adhesives and sealants is subdivided into consumer/DIY, paper & packaging, building & construction, automotive & transportation, woodworking, leather & footwear, and others. In 2022, the paper & packaging segment recorded a key market share. The product demand can be attributed to the extensive product application in the bonding of finish surfaces and refined paper.


Table of Segmentation






















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 4.6% over 2023 to 2030



Unit



Volume (Kilo Tons), Value (USD Billion)



Segmentation



By Adhesive Technology



  • Water-based

  • Solvent-based

  • Hot-melt

  • Reactive

  • Others



By Adhesive End-use Industry



  • Paper & Packaging

  • Building & Construction

  • Woodworking

  • Consumer/DIY

  • Automotive & Transportation

  • Leather & Footwear

  • Others



By Sealant Resin



  • Silicone

  • Polyurethane

  • Emulsion

  • Polysulfide

  • Others



By Sealant End-use Industry



  • Building & Construction

  • Automotive & Transportation

  • Consumer

  • Others



By Region



  • North America (By Technology, By Resin, By End-use Industry, By Country)




    • U.S. (By End-use Industry)

    • Canada (By End-use Industry)




  • Europe (By Technology, By Resin, By End-use Industry, By Country)




    • Germany (By End-use Industry)

    • U.K. (By End-use Industry)

    • France (By End-use Industry)

    • Italy (By End-use Industry)

    • Spain (By End-use Industry)

    • Rest of Europe (By End-use Industry)




  • Asia Pacific (By Technology, By Resin, By End-use Industry, By Country)




    • China (By End-use Industry)

    • India (By End-use Industry)

    • Japan (By End-use Industry)

    • South Korea (By End-use Industry)

    • Rest of Asia Pacific (By End-use Industry)




  • Latin America (By Technology, By Resin, By End-use Industry, By Country)




    • Brazil (By End-use Industry)

    • Rest of Latin America (By End-use Industry)




  • Middle East & Africa (By Technology, By Resin, By End-use Industry, By Country)




    • South Africa (By End-use Industry)

    • Saudi Arabia (By End-use Industry)

    • Rest of the Middle East & Africa (By End-use Industry)



Adhesives and Sealants Market
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  • 2019-2021
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