Rising demand for gaming laptops and the growth of electronic markets are key factors driving market revenue growth
The global Adhesives and Sealants Market size is expected to reach USD 99.48 Billion in 2030 and register a revenue CAGR of 4.6% over the forecast period, according to the latest report by Reports and Data. Increase in demand for the product from end-use industries is the key factor driving market revenue growth. Adhesives are substances that help to bind two items together to make them solid and tough, and sealants are used as a hard coating on a permeable surface or to block the flow of fluid. Adhesives and sealants are utilized in a variety of applications, including building construction, paper packaging, transportation, and others. Increased demand for high-performance adhesives in the automotive, pressure-sensitive, construction, furniture, packaging, and footwear industries, as well as the increased penetration of lightweight passenger cars with high fuel efficiency and lower emissions, are driving the market revenue growth. Rise in demand for drywall, bathroom flooring, fixtures for walls, ceiling applications, tiling applications, and molding applications in the construction industry, as well as the increased use of adhesives in both interior and exterior vehicle applications, all further drive the market revenue growth. In addition, rapid urbanization and industrialization, RD activities, an increase in investments, and the expansion of end-user industries provide profitable opportunities for market players during the forecast period.
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Key Companies in the market include: Henkel AG Co. KGaA, H.B. Fuller Company, Sika AG, Arkema S.A., 3M Company, Huntsman Corporation, Illinois Tool Works Inc., Avery Dennison Corporation, Wacker Chemie AG, and RPM International Inc.
Some Key Highlights From The Report
Water-based segment accounted for the largest revenue share in 2020. In the construction and automotive industries, water-based adhesives are preferred in porous and non-porous substrates. Water-based adhesives have excellent water resistance, high bond strength, and corrosion and water resistance. Water-based adhesives are environmentally friendly since they contain no volatile organic compounds (VOCs), which is driving the adhesives and sealants market demand from industrial applications.
Paper, board, packaging segment is expected to account for the largest revenue share in the global adhesives and sealants market over the forecast period. The packaging industry has seen strong demand from end-use industries like cosmetics, food beverages, stationery, consumer goods, and others. Adhesives are utilized in more than 80% of food packaging. Adhesives also help in bonding refined paper, hence a high demand in the paper and packaging industry.
Silicone segment is expected to register a rapid revenue growth rate in the global adhesives and sealants market over the forecast period, due to various beneficial properties, such as high-temperature resistance, excellent resistance to UV radiation, oil, ozone, and many other chemicals. This increases its acceptance in a variety of industries, including the construction industry.
Market in the Asia Pacific is expected to contribute to highest revenue share in the global adhesives and sealants market during the forecast period due to the increasing population and shift of manufacturing sites from developed to developing countries in APAC. The
automotive as well as the packaging industry have witnessed a rise in the demand with contribution from the ASEAN countries.
In February 2020, Henkel officially inaugurated its new production facility in Kurkumbh, near Pune in India. With a total investment of about USD 57 million, the business unit aims to serve the growing demand of Indian industries for high-performance solutions in adhesives, sealants and surface treatment products. Designed as a smart factory, the new plant enables a wide range of Industry 4.0 operations and meets the highest standards for sustainability.
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Market Segmentation:
Adhesives Formulating Technology Outlook (Revenue, USD Billion; 2019-2030)
- Water-Based
- Solvent-Based
- Hot-Melt
- Reactive
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Building Construction
- Paper, Board, Packaging
- Automotive Transportation
- Woodworking Joinery
- Footwear Leather
- Healthcare
- Electrical Electronics
- Consumer
- Others
Sealants Resin Type Outlook (Revenue, USD Billion; 2019-2030)
- Silicone
- Polyurethane
- Acrylic
- Polyvinyl Acetate
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Adhesives and Sealants market report:
- What is the expected market size of the global Adhesives and Sealants market during the forecast period?
- What factors are expected to hamper global Adhesives and Sealants market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Adhesives and Sealants market?
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