Asia Pacific Adhesives And Sealants Market (2023 - 2030) Size, Share & Trends Analysis Report By Technology (Water Based, Solvent Based), By Product, By Application, By Country, And Segment Forecast

Report Overview

The Asia Pacific adhesives and sealants market size was valued at USD 24.1 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. The increasing industrialization, robust GDP growth, and increase in manufacturing and industrial output are the main drivers of market growth in this region. It is anticipated that India, China, and Japan will make significant contributions to the expansion of this industry. In addition to being the largest market, Asia Pacific is anticipated to experience the quickest growth in the adhesives industry during the forecast period, due to the growth in furniture & woodworking, medical, footwear & leather, consumer, and DIY sectors.

The demand for adhesives has historically been driven by expanding construction activity, particularly in the rapidly developing economies of China and India. This trend is anticipated to persist over the projected period. The expansion of demand for adhesives to meet the industry's customization needs has been accelerated by technological advancement in places like Korea and Japan.

The region also has a strong product penetration rate in new applications, and technological advancements continue to boost this dynamic even more. It is anticipated that demand for sealants will increase along with economic expansion in countries like China and India because of the essential role they play in construction.With GDP growth rates that are higher than the norm, around the world, China and India exhibit some of the fastest expanding economies. Due to the region's expanding construction and automotive industries, sealants also remain in high supply in Indonesia and Malaysia.

Technology Insights

Reactive & other technology segment dominated the market with a revenue share of more than 45% in 2022. This growth is attributed to the market for adhesives technology which is anticipated to be driven by rising environmental awareness and strict restrictions in several nations.

Products based on reactive technology are advantageous in many ways, which is why they are a major driver of the segment's expansion. Benefits associated with these products include rapid manufacturing because of increased heat resistance, rapid setting time, and good adhesion to a variety of substrates.In the few years, the usage of polyester hot melt adhesives has become more commonplace in the textile and apparel sector. Over the past few years, the product's application has expanded in the cotton, wool, and textiles sector. It does this by significantly increasing both the fabric's elastic recovery rate and its anti-pilling performance for cotton-woven materials.

Hot melt adhesive products are becoming more and more common in automotive dashboards all over the world. These materials are used in dashboards where they provide improved sound insulation while also reducing vibrations. During the forecast period, the product's penetration in the automobile industry is projected to be pushed by the rising focus on providing soundproof rides.

Product Insights

Acrylic adhesives dominated the market with a revenue share of more than 36% in 2022. This growth is attributed to rising infrastructure investments and construction activity. It is anticipated that the construction of research centers, bridges, stadiums, concert halls, museums, and medical buildings will be beneficial to the segment's growth.

On a variety of substrates, including metal, plastic, rubber, wood, and glass, polyurethane adhesive materials display superior features like quick drying, good abrasion, chemical resistance, and good binding strength. These items typically utilize reactive technology and include polymers with urethane bonds. These substances give the glue stability, low viscosity, and a quicker cure time.

Epoxy-based products adhere to an extensive variety of materials, and their superior qualities depend on the make-up of cross-linking polymers. They offer strong chemical and environmental resistance, high-temperature resistance, and high-strength bonding on a range of substrates. These adhesives often rely on reactive technology.

Application Insights

The construction applications segment dominated the market with a revenue share of more than 44% in 2022. Numerous opportunities are anticipated to arise in the building & construction segment. Rapid technological and architectural innovation is occurring in this segment of the adhesives and sealants industry. Mining operations, airports, transportation routes, as well as residential developments are going through notable changes to meet evolving requirements and norms.

The Asia Pacific market is anticipated to profit from the demand for components used in the assembly of electrical and electronic components. At the international level, China is one of the top producers of numerous electrical and electronic components. The Chinese electrical and electronics sector is anticipated to grow during the forecast period because of investments in cutting-edge technologies like 5G and IoT.

Regional Insights

China dominated the market with a revenue share of more than 53% in 2022. This growth is attributed to the rising income, increasing domestic demand along with rising automobile, packaging, electronics, and consumer goods industry. Further, growth in construction activities in the country is projected to significantly contribute to the market growth.

In 2020, the COVID-19 pandemic had a significant influence on several industries, including textile and apparel, construction, and automotive, as well as on export trade in general. Since the third quarter of 2020, the market exhibited signs of improvement, and it gained traction in 2021.

Key Companies & Market Share Insights

The Asia Pacific adhesives and sealants market is characterized by the presence of medium and large producers with both local and global presence. Some of the company’s strategies include new product launches, expansion, collaborations, and mergers & acquisitions. For instance, Huntsman Corporation successfully acquired Gabriel Performance Products (Gabriel) from Audax Private Equity in January 2021. Gabriel is a key provider of specialized additives as well as epoxy curing agents for sealants, adhesives, coatings, and composite end markets. Some prominent players in the Asia Pacific adhesives & sealants market include:

• 3M Company

• Ashland Inc.

• Avery Dennison Corporation

• BASF AG

• Beardow & Adams (Adhesives) Ltd

• Bostik SA

• Dow Chemical Company

• Eastman Chemical Company

• Ellsworth Adhesives

• H.B Fuller Company

• Henkel AG & Co.

• Momentive Specialty Chemical Inc

• N.D. Industries Inc.

• Sika AG

• Uniseal Inc.

Asia Pacific Adhesives And Sealants Market Report Scope

Asia Pacific Adhesives And Sealants Market Report Segmentation

This report forecasts volume & revenue growth at regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the Asia Pacific adhesives & sealants market report based on technology, product, application, and region:

• Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Water-Based

  • Solvent-Based

  • Hot Melt

  • Reactive & Others

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Acrylic

  • PVA

  • Polyurethanes

  • Styrenic Block

  • Epoxy

  • EVA

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Pressure Sensitive Applications

  • Packaging

  • Construction

  • Furniture

  • Footwear

  • Automotive

  • Other

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Silicones

  • Polyurethanes

  • Acrylic

  • Polyvinyl Acetate (PVA)

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Construction

  • Automotive

  • Packaging

  • Assembly

  • Pressure Sensitive Tapes

  • Consumers

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Asia Pacific

    • China

    • India

    • Japan

    • Rest of Asia Pacific