WASHINGTON, June 27, 2023 (GLOBE NEWSWIRE) -- Global Adhesives and Sealants Market is valued at USD 66.8 Billion in 2022 and is projected to reach a value of USD 103.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.50% over the forecast period 2023-2030.
One of the most significant economic areas is the Adhesives and Sealants business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for adhesives and sealants, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Adhesives and Sealants market growth over the forecast period. One of the main factors favorably affecting the demand for adhesives and sealants is the growth in construction and automotive industries, the growing demand for eco-friendly and low VOC adhesives and sealants, and the increasing use of adhesives and sealants in the manufacturing of electronics and medical devices.
We forecast that the building & construction category in Adhesives and Sealants market sales will account for more than 30% of total sales by 2028 due to the increasing use of these products in the construction of commercial and residential buildings, along with the rising demand for energy-efficient buildings.
The Asia-Pacific region is the largest producer and consumer of adhesives and sealants, with China being the largest market in the region. The region's rapid economic growth, coupled with the growing demand for various end-user applications, such as automotive, construction, and packaging, is driving the growth of this market.
Market Dynamics
Increasing Demand for Electronics and Electrical Equipment to Drive the Market:
The electronics and electrical equipment industry is one of the major end-users of adhesives and sealants. These materials are used to manufacture printed circuit boards (PCBs), mobile devices, computer components, and other electrical and electronic equipment. The growing demand for these products, coupled with the increasing trend of miniaturization, is expected to drive the demand for adhesives and sealants to market expansion throughout the forecast period.
Continuous Product Innovation to Promote Market Growth:
Manufacturers are investing heavily in research and development to introduce innovative products that offer superior performance, efficiency, and sustainability. These products are extensively used in various industries such as automotive, construction, packaging, and medical. This trend is expected to continue, with manufacturers focusing on developing products that meet the evolving needs of customers.
Top Players in the Global Adhesives and Sealants Market
- Henkel AG & Co. KGaA
- 3M Company
- Dow Chemical Company
- Arkema Group
- H.B. Fuller Company
- Sika AG
- Avery Dennison Corporation
- Illinois Tool Works Inc.
- Saint-Gobain S.A.
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Top Trends in Global Adhesives and Sealants Market
- One trend that Vantage Market Research (VMR) expects to see in the Adhesives and Sealants industry is the growing demand for lightweight and fuel-efficient vehicles. The shift towards lightweight and fuel-efficient vehicles is driving the demand for adhesives and sealants in the automotive industry. These products help reduce the weight of vehicles and improve fuel efficiency.
- Another trend that VMR predicts will continue in the Adhesives and Sealants industry is an increase in construction activities. The growth of the construction industry is driving the demand for adhesives and sealants, especially in emerging economies. The use of these products in building and construction activities helps reduce downtime, improve efficiency, and enhance durability.
Top Report Findings
- Based on product type, most of the Adhesives and Sealants market's revenue is controlled by the adhesives category. Factors include superior properties such as bonding strength, versatility, and durability and their wide range of applications such as construction, automotive, packaging, and electronic driving its significant market share.
- Based on Application, the building & construction category dominated the Adhesives and Sealants market. This trend is anticipated to continue because of the increasing use of these products in the construction of commercial and residential buildings, along with the rising demand for energy-efficient buildings.
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Top 10 Players Generates More Than 45% of the Global Adhesives and Sealants Market Revenue
The report also found that the largest players in the Adhesives and Sealants market are technology providers & manufacturers such as Henkel AG & Co. KGaA, 3M Company, Dow Chemical Company and Arkema Group. These companies are expected to benefit from increased demand for their products and services, as well as growing investment in new products. Other major players include H.B. Fuller Company, Sika AG, Avery Dennison Corporation, Illinois Tool Works Inc., Saint-Gobain S.A., Mapei Corporation, Huntsman Corporation, BASF SE and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Adhesives Category in Adhesives and Sealants Market to Generate Over 40% Revenue
Adhesives and Sealants are an expensive investment. Vantage Market Research has analyzed the market for Adhesives and Sealants to understand its current state and potential future growth factors. For better understanding, based on product type the Adhesives and Sealants market is divided into: adhesives and sealants.
During the forecast period, the market for adhesives is anticipated to experience the highest CAGR for the acrylic-based adhesives substrate category due to their wide range of applications such as construction, automotive, packaging, and electronics. Adhesives are used for bonding substrates, improving product performance, and reducing overall weight of the final product.
On the other hand, the sealants category is anticipated to grow significantly over the forecast period because of its increasing demand from the construction, automotive, and aerospace industries. Sealants are used for filling gaps, stopping the flow of fluids, and improving the durability of the final product.
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Global Adhesives and Sealants Market Segmentation
By Product Type
- Adhesives
- Sealants
By Applications
- Paper Board & Packaging
- Building & Construction
- Woodworking & Joinery
- Transportation
- Footwear & Leather
- Medical
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 66.8 Billion |
| Revenue Forecast by 2030 | USD 103.8 Billion |
| CAGR | 6.50% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Henkel AG & Co. KGaA, 3M Company, Dow Chemical Company, Arkema Group, H.B. Fuller Company, Sika AG, Avery Dennison Corporation, Illinois Tool Works Inc., Saint-Gobain S.A. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/adhesives-and-sealants-market-1858/request-sample |
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