The global adhesives and sealants market size was valued at USD 67.48 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. Changes in material consumption patterns, wherein materials, such as aluminum, metal, and paper, are being replaced by highly durable materials. This is anticipated to positively affect the products demand in packaging applications, over the next eight years.
Consistent demand for packaging products from the food & 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 the 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. Moreover, the market is driven by demand from industries such as construction, automotive, and packaging. With the growth of these industries in the U.S., the demand for adhesives and sealants is expected to increase.
The paper & packaging application segment in the U.S. adhesives market is expected to emerge as the fastest-growing application segment at an estimated CAGR of 4.9% from 2023 to 2030. 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 & packaging segment.
The COVID-19 pandemic affected the adhesive & sealant products demand 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 end-use industries such as building & construction, automotive & transportation, aerospace & defense, packaging, and consumer. Overall, adhesives volume registered a Y-O-Y growth of 0.4% in 2020.
Reactive & others technology dominated the market with a revenue share of 49.2% in 2022. Reactive technology-based products offer several advantages and thus are the key factors behind the growth of the segment. These advantages include high manufacturing speeds owing to short setting time, higher heat resistance, and strong adhesion properties to a wide range of substrates hot-melt segment is anticipated to grow at a lucrative pace from 2022 to 2030. Within the textiles & 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 the cotton, wool, and fabrics sub-sector 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 increasingly becoming popular across the globe. These products find applications in the dashboard wherein it offers 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 during the forecast period.
Acrylic product segment dominated the market with a revenue share of 36.5% in 2022. 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 & 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 that 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.
Paper & packaging segment dominated the market with a revenue share of 29.3% in 2022. Flexible packaging is projected to new avenue for market players over the coming years. The 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.
Building & construction segment is projected to provide numerous opportunities in the industry. This segment in the adhesives & sealants industry is witnessing rapid technological & architectural innovation. Airports, mining facilities, transportation routes & even residential projects are undergoing an immense transformation in order to comply with transitioning standards & specifications.
Demand for products in the assembly of electrical & electronics components is projected to benefit the global market. China is among the leading countries in 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 & electronics industry during the forecast period.
Asia Pacific region dominated the market with a revenue share of 41.2% in 2022. The COVID-19 pandemic created a sizable impact on various industries such as textile & 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 gained momentum during 2021.
GCC is one of the key growth engines for the Middle East & Africa. Growing construction activities in the GCC region are likely to fuel the demand for adhesives & 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 the economic slowdown. However, over the coming years, the construction industry is projected to perform well owing to investments in residential construction, energy, and transport infrastructure.
Government initiatives for economic recovery are anticipated to fuel the infrastructural developments in Central & South America. The construction industry in countries such as Argentina, Colombia, and Peru is expected to witness growth during the forecast period. This, in turn, is anticipated to fuel the demand for adhesives & sealants in Central & 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.
The global adhesives and sealants market is characterized by the presence of medium and large producers, which have local as well as international presences. 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 & labor, the halting of industrial production, etc.
In 2020, several players reported heavy losses owing to low demand for adhesives as manufacturing operations in 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 to EUR 14,485 million. Many manufacturers are developing adhesives and sealants that are free from volatile organic compounds (VOCs) and other harmful chemicals. These products are eco-friendly and comply with various environmental regulations. Some of the 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.
In July 2023, HB Fuller acquired Adhezion Biomedical for entering into the topical skin bonding market, and also making expansion in the medical adhesives sector
In June 2023, Ashland Inc. introduced PolyplasdoneTM Plus, a multifunctional disintegrant, that offers lubrication and super powder flow during the process of pharmaceutical manufacturing. This innovation caters to the development of adhesives and sealants required for the manufacturing of tablets
In May 2023, Huntsman announced the development of carbon nanotube, polyurethane, and epoxy materials for enhancing the performance and protection of electric vehicle batteries. These are useful adhesive products through which the company is aiming to support the sustainability goals of the automotive sector
In May 2023, Sika AG completed the acquisition of MBCC Group for expanding its position in the construction chemicals sector, and enhancing its product and solution offerings in adhesives and sealants
In January 2023, Avery Dennison Corporation announced an agreement for the acquisition of Thermopatch. The purpose is to make expansion in its position by including adhesives and sealants in its Retail Branding and Information Solutions (RBIS) Apparel Solutions division
In June 2021, Wacker Chemie AG unveiled a highly effective silicone emulsion for hair conditioners. Silicone adhesive and sealants are flexible, and are also temperature resistant, thus being highly effective in conditioning hair
Report Attribute |
Details |
Market size value in 2023 |
USD 71.42 billion |
Revenue forecast in 2030 |
USD 107.27 billion |
Growth rate |
CAGR of 6.0% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Quantitative units |
Revenue in USD Million, Volume in Kilotons and CAGR from 2023 to 2030 |
Report coverage |
Revenue & 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.; Italy; France; Spain; China; India; Japan; South Korea; Brazil; Colombia; Argentina; GCC |
Key companies Listed |
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 up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue 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 2018 to 2030. For this study, Grand View Research has segmented the global adhesives and sealants market based on product, technology, application, and region; and segmented the global sealants market based on technology, product, application, and region, as follows:
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
Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Paper & packaging
Consumer & DIY
Building & construction
Furniture & woodworking
Footwear & leather
Automotive & transportation
Medical
Others
Sealants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Silicones
Polyurethanes
Acrylic
Polyvinyl acetate
Others
Sealants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Construction
Automotive
Packaging
Assembly
Consumers
Others
Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
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
b. The global adhesives and sealants market size was estimated at USD 67.48 billion in 2022 and is expected to reach USD 71.42 billion in 2023. Rising penetration of flexible packaging products and adhesive demand in households are projected to assist the market growth.
b. The global adhesives and sealants market is expected to grow at a compound annual growth rate of 6.0% from 2023 to 2030 to reach USD 107.27 billion by 2030.
b. The Asia Pacific was the key regional segment of the adhesives and sealants market with a revenue share of above 35% of the global market in 2022. Rising industrial production and thus product demand in assembly operations coupled with moderate growth of the construction sector in China and India are projected to drive the market growth.
b. Some of the key players operating in the adhesives & sealants market are 3M Company, Ashland Inc., Avery Denison Corporation, Bostik, H.B Fuller Company, Henkel AG and Sika AG.
b. The key factors that are driving the adhesives and sealants market are global infrastructure investments and the lucrative growth of the packaging industry.
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The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.
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