GVR Report cover Adhesives And Sealants Market Size, Share & Trends Report

Adhesives And Sealants Market Size, Share & Trends Analysis Report By Technology, By Product, By Application, By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2021 - 2028

  • Published Date: Dec, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-081-1
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 200

Report Overview

The global adhesives and sealants market size was valued at USD 60.06 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028. Changes in material consumption patterns, wherein materials such as aluminum, metal, and paper are being replaced by highly durable materials, are anticipated to positively affect the product demand in packaging applications over the next eight years. Consistent demand for packaging products from the food and beverage industry is anticipated to remain the key driver for the market in the U.S. Additionally, the increasing presence of discount retailers in the U.S. and high potential for grocery retail is likely to push the adhesive demand for packaging products.  This, in turn, is likely to benefit the long-term growth of the market.

U.S. adhesives market size, by technology, 2018 - 2028 (USD Billion)

The paper and packaging segment in the U.S. adhesives market emerged as the largest application segment in 2020. Increasing demand for bio-based products is expected to augment the demand for hot melt technology over the forecast period and contribute to the expansion of the paper and packaging segment.

The COVID-19 pandemic affected the demand for adhesives and sealants in the U.S. According to the government report, the GDP of the U.S. shrunk by 3.5% in 2020 from 2019 owing to a decline in the manufacturing output of the end-use industries such as building and construction, automotive and transportation, aerospace and defense, packaging, and consumer. Overall, adhesives volume registered Y-O-Y growth of 0.4% in 2020.

Technology Insights

In 2020, the reactive and others segment held the largest revenue share of over 45.0% in the global adhesives market. Reactive technology-based products offer several advantages and thus are the key factors behind the growth of the segment. These advantages include high manufacturing speed owing to short stetting time, higher heat resistance, and strong adhesion properties to a wide range of substrates.

The hot melt segment is anticipated to grow at a lucrative pace from 2021 to 2028. Within the textiles and fabrics industry, the use of polyester hot melt adhesives started gaining prominence in the last decade. The wider use of the product was observed in cotton, wool, and fabrics sub-sectors over the last few years. The reason being the product greatly improves the anti-pilling performance of cotton-woven fabrics while enhancing the elastic recovery rate of the fabric.

The use of hot melt adhesive products in the dashboard of automotive vehicles is increasingly becoming popular across the globe. These products find applications in the dashboard wherein they offer reduced vibrations, coupled with greater insulation from the sound. The increased focus to offer soundproof ride is likely to push the product’s penetration in the automotive industry over the forecast period.

Product Insights

The silicones segment accounted for the largest share of over 30.0% in 2020, in terms of volume, in the global sealants market. The segment is projected to grow on the account of rising construction activities and investments in infrastructure space. The construction of chemical/industrial process plants, stadiums, bridges, museums, concert halls, research facilities, and medical buildings is projected to benefit the expansion of the segment.

Polyurethane adhesive products exhibit superior properties such as fast curing, good abrasion and chemical resistance, and excellent bond strength on various substrates such as metal, plastic, rubber, wood, and glass. These products are generally based on reactive technology and contain polymers, which have urethane linkages. These materials provide solidity, low viscosity, and less cure time to the adhesive.

Epoxy-based products adhere to a wide variety of materials and their superior properties are dependent on the nature of cross-linking polymers. They provide high resistance to chemicals and environments and high-temperature resistance, along with high strength bonding on a variety of substrates. These adhesives are generally based on reactive technology.

Application Insights

The paper and packaging segment was the largest segment in the adhesives industry and accounted for a revenue share of over 25.0% in 2020. Flexible packaging is projected to provide new avenues for market players over the coming years. A sudden rise in healthcare spending positively affected the demand for packaging products on account of the demand for PPE kits, surgical masks, and other healthcare products. 

Global adhesives market share, by application, 2020 (%) 

The building and construction segment is projected to provide numerous opportunities in the industry. This segment in the adhesives and sealants industry is witnessing rapid technological and architectural innovation. Airports, mining facilities, transportation routes, and even residential projects are undergoing an immense transformation in order to comply with transitioning standards and specifications.

Demand for products in the assembly of electrical and electronics components is projected to benefit the global market. China is among the leading countries for the production of various electrical and electronic components at the global level. Investments in emerging technologies such as 5G and IoT are projected to boost the Chinese electrical and electronics industry growth over the forecast period.

Regional Insights

Asia Pacific dominated the market and accounted for over 35.0% share of the global volume in 2020. The COVID-19 pandemic created a sizable impact on various industries such as textile and garments, construction, and automotive in 2020, wherein export trade was also largely impacted. For instance, as per the government data, the textile trade between China and India observed a year-on-year decline of 12.4% in the first 2 months of 2020 from the previous year. The market has shown a positive recovery since the third quarter of 2020 and is projected to gain momentum during 2021.

GCC is one of the key growth engines for the Middle East and Africa. Growing construction activities in the GCC region are likely to fuel the demand for adhesives and sealants over the forecast period. In the recent past, the housing sector in GCC countries did not perform well. This was mainly due to the decline in oil prices and economic slowdown. However, over the coming years, the construction industry is projected to perform well owing to the investments in residential construction, energy, and transport infrastructure.

Government initiatives for economic recovery are anticipated to fuel the infrastructural developments in Central and South America. The construction industry in countries such as Argentina, Colombia, and Peru is expected to witness growth over the forecast period. This, in turn, is anticipated to fuel the demand for adhesives and sealants in Central and South America. For instance, the growth of the economy of Peru can largely be attributed to an increase in construction and related business activities in the country.

Key Companies & Market Share Insights

The market for adhesive and sealants is characterized by the presence of medium and large producers, which have local as well as international presence. These producers observed a reduction in demand during 2020 owing to the COVID-19 pandemic. Value chains at different levels witnessed different obstacles such as shortage of raw materials and labor and halting of industrial production. In 2020, several players reported heavy losses owing to low demand for adhesives as manufacturing operations in the end-use industries were suspended due to nationwide lockdowns and other government restrictions. In the first nine months of 2020, Henkel’s sales decreased by around 4.5%, dropping down to EUR 14,485 million. Some prominent players in the global adhesives and sealants market include:

  • 3M Company

  • Ashland Inc.

  • Avery Denison Corporation

  • H B Fuller

  • Henkel AG

  • Sika AG

  • Pidilite Industries

  • Huntsman

  • Wacker Chemie AG

  • RPM International Inc. 

Adhesives And Sealants Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 63.79 billion

Revenue forecast in 2028

USD 95.41 billion

Growth Rate

CAGR of 6.0% from 2021 to 2028

Market demand in 2021

21,848.4 kilotons

Volume forecast in 2028

30,839.7 kilotons

Growth Rate

CAGR of 5.1% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million, volume in kilotons, and CAGR from 2021 to 2028

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Colombia; Argentina; GCC

Key companies profiled

3M Company; Ashland Inc.; Avery Denison Corporation; H B Fuller; Henkel AG; Sika AG; Pidilite Industries; Huntsman; Wacker Chemie AG; RPM International Inc.

Customization Scope

Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

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Segments Covered in the Report 

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global adhesives market report on the basis of technology, product, application, and region; and segmented the global sealants market report on the basis of product, application, and region:

  • Adhesives Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • Water Based

    • Solvent Based

    • Hot Melt

    • Reactive & Others

  • Adhesives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • Acrylic

    • PVA

    • Polyurethanes

    • Styrenic Block

    • Epoxy

    • EVA

    • Others

  • Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • Paper & Packaging

    • Consumer & DIY

    • Building & Construction

    • Furniture & Woodworking

    • Footwear & Leather

    • Automotive & Transportation

    • Medical

    • Others

  • Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

      • Colombia

    • Middle East & Africa

      • GCC

  • Sealants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • Silicones

    • Polyurethanes

    • Acrylic

    • Polyvinyl Acetate

    • Others

  • Sealants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • Construction

    • Automotive

    • Packaging

    • Assembly

    • Consumers

    • Others

  • Sealants Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

      • Colombia

    • Middle East & Africa

      • GCC

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