The size of the Market was around USD 56.58 Billion by revenue, at the end of 2019. It is expected to grow at a CAGR of 4.95 % to reach close to USD 72.04 Billion in the forecast, as mentioned earlier period.
H B Fuller, the United States-based major participant of the Market, has launched four new innovative adhesives at the 14th edition of Printpack in India. The four adhesives include two hot-melt adhesives and water-based adhesives, which is focused on paper packaging industries.
The Adhesives & Sealants Market has a slow growth pace in the Market, which is driven by the demand for polyurethane sealant resin, which is mainly used in the automotive industry which is a fast-developing industry. The Adhesives & Sealants Market is expected to reach a total of USD 72.04 Billion by 2024 with a 4.95 % CAGR.
Adhesives & Sealants Market Drivers and Restraints:
The Market is mainly driven by the demand for polyurethane sealant resin, which is used primarily in the automotive industry, which is a fast-developing industry. Also, the demand for reactive adhesive technology helps in the growth of the Adhesives & Sealants Market.
However, the costs associated may restrain the Market in the forecast period. Also, the market concentration in regions like the Asia Pacific restrains the market expansion into regions like the Middle East and Africa.
Adhesives & Sealants Market Segmentation Analysis:
By Adhesive Technology
Based on the technology used in the make of adhesives the Market for adhesives & sealants is segmented into Hot-Melt, Reactive Water-based, Solvent-based, & Others. Among the mentioned technologies, the reactive segment is the fastest growing in the forecast period and is expected to lead the Market in the forecast period. The growth is mainly attributed to the advanced technology needed to handle and dispense them and the unique characteristics of reactive adhesives. They can be altered to create numerous characteristics like multiple degrees of conductivity, which can offer exceptional thermal or electrical management, differing cure profiles, and unique optical properties.
By Sealant Resin
Based on the resin used in the sealant, the Market is categorized into Silicone, Polyurethane, Plastisol, Emulsion, Butyl, Polysulfide, and Others. Of the mentioned resins, the polyurethane segment is the largest and is expected to have the fastest growth rate in the forecast, as specified earlier period. The growth is mainly attributed to the fact that they provide better adhesion, and abrasion resistance than silicone sealants which makes them commonly used in parking deck & sidewalk sealing, automotive, construction, and marine applications.
Base on the application, the Market is segmented into Paper & Packaging, Building & Construction, Consumer, Automotive & Transportation, Woodworking, and Others. Of the mentioned applications, the automotive & transportation segment is the largest and is anticipated to have the fastest growth rate in the forecast period. The growth is mainly due to the rising demand for efficient, lightweight, and eco-friendly cars.
Adhesives & Sealants Market Geographical Analysis:
By geography, the Market is segmented as Europe, Asia Pacific, Latin America, North America, and Middle-East & Africa. The Asia Pacific region holds the largest share of the Adhesives & Sealants Market in the year of 2019, in terms of value and volume. The regional advantages in this region, like the ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the Market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional Market. These reasons make this region the fastest-growing regional Market in the proposed forecast period.
Europe is next in the lead of the Market in the year 2019. The presence of a considerable customer base in and around this region is helping in the growth of the Adhesives & Sealants Market in this region. However, this region is the third fastest-growing region in the Market in the projected forecast period.
North America is next in the lead of the Adhesives & Sealants Market by both value and volume, as of 2019. The situation of many key market players in this region with well-established infrastructure is the main reason for its market position. This region is in the second position in the Market in terms of market growth, following the Asia Pacific.
On the other hand, the Middle East & Africa and Latin America regions, being in the slow-developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Adhesives & Sealants Market Key Market Players:
By the end of 2019 Sika (Switzerland), Henkel (Germany), Illinois Tool Works (US), Arkema (France), 3M (US), Huntsman (US), and H.B. Fuller (US) are the leading shareholders of the Market for Adhesives & Sealants Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Adhesives & Sealants Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Adhesive Technology
5.1.7 Y-o-Y Growth Analysis, By Adhesive Technology
5.1.8 Market Attractiveness Analysis, By Adhesive Technology
5.1.9 Market Share Analysis, By Adhesive Technology
5.2 Sealant Resin
5.2.8 Y-o-Y Growth Analysis, By Sealant Resin
5.2.9 Market Attractiveness Analysis, By Sealant Resin
5.2.10 Market Share Analysis, By Sealant Resin
5.3.2 Paper & Packaging
5.3.3 Building & Construction
5.3.5 Automotive & Transportation
5.3.8 Y-o-Y Growth Analysis, By Application
5.3.9 Market Attractiveness Analysis, By Application
5.3.10 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Adhesive Technology
18.104.22.168 By Sealant Resin
22.214.171.124 By Application
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Adhesive Technology
184.108.40.206 By Sealant Resin
220.127.116.11 By Application
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Adhesive Technology
126.96.36.199 By Sealant Resin
188.8.131.52 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.3 Illinois Tool Works
8.7 H.B. Fuller
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures