Adhesives & Sealants Market

Adhesives & Sealants Market Size (2023-2028)

The Adhesives & Sealants Market size was close to USD 57.58 billion in 2022 and is estimated to grow at a CAGR of around 4.95% to reach USD 75.04 billion by 2028.

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.

Adhesives & Sealants Market Segmentation:

On the basis of Adhesive Technology:

• Hot-Melt
• Reactive Water-based
• Solvent-based
• Others.

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.

On the basis of Sealant Resin:

• Silicone
• Polyurethane
• Plastisol
• Emulsion
• Butyl
• Polysulfide
• Others

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.

On the basis of Application:

• Paper & Packaging

• Building & Construction

• Consumer

• Automotive & Transportation

• Woodworking

• Others

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 REPORT COVERAGE:

Adhesives & Sealants Market geographical analysis:

• North America
• Europe 
• Asia Pacific 
• Latin America 
• The Middle East and 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 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 slow-developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.

Adhesives & Sealants Market Recent Developments:

H B Fuller, the United States-based major participant in 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.

Adhesives & Sealants Market key players:

1. Sika (Switzerland)

2. Henkel (Germany)

3. Illinois Tool Works (US)

4. Arkema (France)

5. 3M (US)

6. Huntsman (US)

7. H.B. Fuller (US)