Adhesives And Sealants Market Size, Share & Trends Analysis Report By Technology (Water Based, Solvent Based, Hot Melt), By Product (Acrylic, PVA, Polyurethanes), By Application (Paper & Packaging, Consumer & DIY), By Region, And Segment Forecasts, 2024 - 2030

Adhesives And Sealants Market Trends

The global adhesives and sealants market size was estimated at USD 121.27 billion in 2023 and is projected to grow at a CAGR of 10.1% from 2024 to 2030. The growth of the market can be attributed to its wide utilization for assembly of glass, metal, rubber, and other products during the manufacturing of automobiles and in construction projects. In addition, the growing usage of high-performance sealants in the production of lightweight vehicles helps in improving the global economy and reduces the overuse of conventional resources such as metals and plastics

The growth of the market can be attributed to the surged use of this technology in packaging, automotive, textiles, and construction industries for carton sealing and assembling processes.

Drivers, Opportunities & Restraints

Increasing urbanization and infrastructure development globally are driving the demand for the product market in the construction application. The product market also finds its use in automotive sector, the rise in automotive production across the globe and trend towards lightweight vehicles boost the use for the product in the automotive industry.

The availability and development of alternative bonding and sealing technologies, such as mechanical fasteners and welding, can limit the growth of the market. Fluctuations in the prices of raw materials, such as petrochemicals, can impact production costs and profit margins for manufacturers.

There is a growing demand for environmentally friendly market products, opening opportunities for products with low VOC (volatile organic compounds) and renewable materials. The expanding medical device market and increasing adoption of adhesives in medical applications offer new avenues for market growth.

Industry Dynamics

The adhesives & sealants market is fragmented and competitive, with many small and medium-sized businesses operating. The market comprises small and medium-sized enterprises, with many continuously implementing strategies such as acquisitions, collaborations, and product launches.

Additionally, some companies are expanding their manufacturing facilities to improve their position within the market. The market is expected to grow due to the strategic initiatives that market players adopt, such as acquiring regional markets. For instance, in May 2023, H.B. Fuller acquired Beardow Adams, a UK company, to expand its business in Europe.

Adhesives Technology Insights & Trends

“Reactive & Other segment is expected to witness growth at 8.9% CAGR”

Water based segment dominated the market with a share of 31.7% in 2023. Water-based technology is very versatile and offers advanced bonding for a wide range of applications across various industries. These are made using water, polymers, and additives and work well with porous or non-porous surfaces. They can be applied as solutions and are activated as the water evaporates or is absorbed by the substrate. Water-based adhesives come in various chemistries, including natural-based and synthetic-based materials.

Solvent-based adhesives are widely used in packaging, tape, and medical industries due to their high resistance to various environmental factors and suitability to different substrates. These work well for porous and non-porous surfaces, providing secure adhesion once the liquid dries, leaving only the bonding agent behind. They find applications in diverse industries, including automotive, food packaging, household, and graphics.

Adhesives & Sealants Application Insights & Trends

“Furniture and Woodworking adhesive application segment is expected to witness growth at 11.6% CAGR”

The global paper & packaging industry relies increasingly on adhesives for a wide range of applications as they play a crucial role in ensuring the integrity, durability, and efficiency of products of this industry throughout the value chain. Adhesives are utilized in various phases, from raw material manufacturing to end-product assembling of paper & packaging products. The primary applications of these products in the paper & packaging industry are for producing corrugated cardboard and boxes. Adhesives are used to securely bond different layers of corrugated boards for ensuring their strength and stability. These adhesive formulations offer excellent bonding properties, enabling efficient assembly of packaging materials while maintaining resistance to humidity and temperature changes.

Construction sealants are used in construction applications for concrete road joints, and expansion joints, sealing cracks, as well as for filling concrete gaps. The rise in spending on infrastructure development projects in emerging countries such as China, India, and the U.S. is one of the major reasons driving the use of sealants in construction applications. The lowering of interest rates is expected to benefit future demand for sealants in construction applications. The highest growth in demand for them can be witnessed in countries such as China and India owing to the surged government spending for construction industry.

Adhesives & Sealants Product Insights & Trends

“Epoxy phase segment is expected to witness growth at 9.2% CAGR”

The acrylic segment is expected to dominate the market and hold a share of 36.7% in 2023. The growth of this segment of the market can be attributed to their ability to bond a variety of materials, including metals, plastics, glass, ceramics, and wood. Acrylic adhesives also have excellent resistance to moisture, extreme temperatures, chemicals, and UV radiation. This makes them ideal for both indoor and outdoor applications.

The silicone sealants are expected to dominate the market and is projected to grow at a CAGR of 10.0% during the forecast period. The presence of laws supporting their application in a wide range of industries fuels the growth of this segment. The introduction of TAFE (Tractors and Farm Equipment Limited) regulations that mandate the reduction of the overall weight of the automobiles to keep the pollution in check has led to increased consumption of silicone sealants in automotive applications.

Regional Insights

North America market has been experiencing steady growth in recent years due to increase in building and construction activities. This increasing building and construction projects in the region resulted in a higher need for adhesives & sealants

U.S. Adhesives And Sealants Market Trends

U.S. market has seen an increase in automobile production in the region in recent years. This increase in automobile production has resulted in demand for adhesives & sealants which are used in automotive products.

Asia Pacific Adhesives And Sealants Market Trends

“China adhesives market to witness market growth of CAGR 7.9%”

Asia Pacific is a prominent consumer of products in the world with revenue share of 41.3% in 2023. The growth of the market in this region can be attributed to the increasing consumption of adhesives & sealants for building and construction across key countries such as Indonesia, India, and Sri Lanka.

The China adhesives And sealants market has been experiencing steady growth in recent years due to the increasing demand for automotive production. This increasing demand in vehicles has resulted in a higher need for adhesives & sealants.

Europe Adhesives And Sealants Market Trends

The increasing demand for products in Europe can be attributed to increasing construction projects in the region. This increasing construction projects in the region has resulted in rising demand for adhesives & sealants.

Germany adhesives & sealants market is Europe’s biggest automotive market, in terms of manufacturing and sales of automotive vehicles. This rise in demand for automotive vehicles production in the region has led to rising demand for adhesives & sealants.

Central & South America Adhesives And Sealants Market Trends

Central & South America is projected to be an emerging market for adhesives & sealants that is expected to grow continuously during the forecast period. Countries such as Brazil and Argentina are promoting the development of new building and construction projects in the region, this has resulted into increasing demand for adhesives & sealants.

Brazil adhesives & sealants market is expected to grow over the forecast period. This growth is attributed to growing automotive, construction, and packaging industry in the region. This has resulted in increase demand for adhesives & sealants.

Middle East & Africa Adhesives And Sealants Market Trends

The Middle East market for adhesives & sealants is expected to grow over the forecast period. This growth is attributed to the rising construction projects in the region. The rise in construction projects has resulted in to increasing demand for adhesives & sealants.

Saudi Arabia adhesives & sealants market is expected to grow over the forecast period. This growth is attributed to increasing mega construction projects in the region. This increasing in the mega construction projects had resulted in to rising demand for adhesives & sealants.

Key Adhesives And Sealants Company Insights

Some of the key players operating in the market include Henkel AG, Dow, Kuraray Co., and Ashland Inc., among others.

• Henkel AG is a multinational company that operates in various industries including adhesives, sealants, surface treatments, and other industrial chemicals. The company is known for its well-known brands such as Loctite, Bonderite, Teroson, Technomelt, Aquence, and Schwarzkopf. The company holds leading positions in both industrial and consumer businesses, offering a diverse portfolio that includes hair care products, laundry detergents, fabric softeners, adhesives, sealants and functional coatings.

• Dow, Inc. specializes in material science. The company’s product portfolio includes plastics, performance materials, coatings, silicones, and industrial intermediates. It offers a wide range of products and solutions in packaging, infrastructure, mobility, and consumer care segments. Dow’s products are used in various sectors such as homes and personal care, durable goods, adhesives & sealants, coatings and food & specialty packaging.

Pidilite Industries, Sika AG, and RPM International Inc., among others, are some of the emerging market participants in the market.

• RPM International Inc. is a multinational company with subsidiaries that specialize in specialty coatings, sealants, and building materials. They have a diverse portfolio of brands, RPM operates in various segments, including construction products, performance coatings, and specialty products. DAP, a subsidiary of RPM International Inc., is a well-known brand. They manufacture and markets products such as caulk, sealants, spackling and glazing compounds, contact cement, and other specialty adhesives. The company has a significant global presence. They sell their products in 170 countries and operate 121 manufacturing facilities in 26 countries.

• Sika AG is a specialty chemical company offering products for bonding, sealing, damping, reinforcing, and protection in the construction and automotive industry. The company has subsidiaries in 103 countries around the world and operates in over 400 factories, producing innovative technologies for consumers worldwide.

Recent Developments

• In February 2023, 3M introduced a new medical adhesive that offers a 28-day wear time. This product is designed to adhere to the skin for an extended period compared to the previous tape, which had a wear time of 14 days. It is intended for use with various sensors, health monitors, and long-term medical wearables. Prolonged wear time for devices and monitors may lead to cost savings, increased data collection for better decision-making, and reduced patient disruption. The new adhesive, 3M Medical Tape 4578, also provides liner-free stability and can be stored for up to one year, offering device makers more flexibility in the design process.

• In February 2022, Arkema announced the acquisition of Ashland's performance adhesives business in the U.S. This acquisition aligns with Arkema's plan to strengthen its adhesive solution segment. In 2021, Ashland's performance adhesives in North America generated approximately USD 360 million in sales.

Adhesives And Sealants Market Report Scope

Global Adhesives And Sealants Market Report Segmentation

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

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

  • Water Based

  • Solvent Based

  • Hot Melt

  • Reactive & Others

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

  • Acrylic

  • PVA

  • Polyurethanes

  • Styrenic block

  • Epoxy

  • EVA

  • Others Product

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

  • Paper & packaging

  • Consumer & DIY

  • Building & construction

  • Furniture & woodworking

  • Footwear & leather

  • Automotive & transportation

  • Medical

  • Others Application

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

  • Silicones

  • Polyurethanes

  • Acrylic

  • Polyvinyl acetate

  • Others Product

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

  • Construction

  • Automotive

  • Packaging

  • Assembly

  • Consumers

  • Others Application

• Adhesives & Sealants Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

    • Russia

    • Italy

    • Spain

    • Turkey

  • Asia Pacific

    • China

    • Japan

    • South Korea

    • India

    • Indonesia

  • Central & South America

    • Brazil

    • Argentina

    • Colombia

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

    • UAE