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Adhesives and Sealants Market to Depict 5.0% CAGR from 2022 to 2029; Sika Expands Adhesives and Sealants Portfolio in India to Meet Burgeoning Demand

June 22, 2022 | Chemicals & Materials

The global adhesives and sealants market size could surge from USD 65.38 billion in 2022 to USD 92.29 billion by 2029. Expanding application of adhesives and sealants in the construction sector has encouraged leading companies to boost their penetration. The emergence of high-performance formulations and polymers could provide impetus to the industry growth.


According to the latest research report by Fortune Business Insights™ titled, “Adhesives and Sealants Market Size, Share & COVID-19 Impact Analysis, By Adhesive [Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive, Others), End-use Industry (Paper & Packaging, Building & Construction, Woodworking, Consumer/DIY, Automotive & Transportation, Leather & Footwear, Others)], By Sealant [Resin (Silicone, Polyurethane, Emulsion, Polysulfide, Others), End-use Industry (Building & Construction, Automotive & Transportation, Consumer, Others), and Regional Forecasts, 2022-2029,” the market stood at USD 62.63 billion in 2021. It is anticipated to witness 5.0% CAGR during the forecast period.


Supply Chain Disruptions amidst COVID-19 Pandemic Dented Industry Growth


The onset of the COVID-19 pandemic did not bode well for the industry growth as building and construction sectors witnessed major disruptions. Temporary shutdown of manufacturing plants and postponement of projects compelled manufacturers and suppliers to rethink their strategies. To illustrate, H. B. Fuller Co. observed an 11% dip in business in Q2 2020 as compared to the same period in the preceding year. Meanwhile, adhesives observed stellar demand in the healthcare sector and the paper & packaging industry.


Arkema Acquired Permoseal to Bolster Presence in South Africa


Prevailing trends suggest industry participants could further their investments in organic and inorganic strategies to tap into markets. To illustrate, in December 2021, Arkema announced the acquisition of Permoseal in South Africa. The company anticipates it will bolster its presence in South Africa and Sub-Saharan Africa in construction, industrial, and DIY markets. The project will also help Bostik consolidate its position in the packaging adhesives portfolio. Besides, in July 2020, Arkema acquired Fixatti to propel the global offering of hot melt adhesive solutions in automotive, construction, textile, and other industries. The adhesives and sealants market share will gain traction from investment in strategic approaches.


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


Burgeoning Urbanization to Underpin Growth


Asia Pacific could emerge as a favorable investment hub following the boom in population and urbanization. A notable uptick in R&D activities and investment in localized production has redefined the global landscape. The expansion of the construction sector will encourage leading companies to boost their value proposition. Prominently, the U.S. could provide promising growth opportunities with the flourishing construction sealant sector across the region. Stakeholders expect the adhesives and sealants market growth to be pronounced with rising investments in commercial and residential sectors. However, an increased use of chemicals in adhesive & sealant production could mar the industry growth.


Stakeholders Focus on Collaboration to Tap into Markets


Major players are poised to inject funds into mergers & acquisitions, product launches, R&D activities, and technological advancements to propel their penetration. Furthermore, leading companies could infuse funds into innovations to expand their market presence across untapped areas.


Notable Industry Development



  • December 2021: Sika announced a production plant and technology center for high-quality adhesives and sealants in Pune, Maharashtra, India to keep up with the soaring demand.


List of the Companies Profiled in the Report



  • 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)


Further Report Findings



  • In terms of adhesive technology, the water-based segment could garner the highest share due to soaring demand in plastic, paper, and packaging sectors.

  • Asia Pacific market forecast will be pronounced with rising prominence of packaging and automotive industries.

  • The North America market outlook will be strong, owing to the trend for recyclable products.


Table of Segmentation


























































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Volume (Kilo Tons), Value (USD Billion)



Segmentation



By Technology, Resin, End-use Industry, and Region



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 Middle East & Africa (By End-use Industry)



Adhesives and Sealants Market
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  • 2021
  • 2018-2020
  • 400

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