Adhesives and Sealants Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Adhesives and Sealants Market
The Adhesives and Sealants market size was valued at USD 79.38 billion in 2023, and the market is now projected to grow from USD 82.88 billion in 2024 to USD 118.83 billion by 2032, exhibiting a CAGR of 4.6% during the forecast period of 2024-2032.
In the desolation of pandemic and lockdown phase, the manufacturing activities were on a halt with feeble supply chain disruptions and thus the adhesives and sealants market growth were ruptured in this phenomenon. However, as industries slowly recoup, there's a bounce back in request driven by the automotive and development segments. The expanded accentuation on cleanliness and security measures impelled request for sealant in healthcare and packaging applications.
The flourished trend of the adhesive tapes is the modern drift within the advertise due to its quick working time, adaptability, and fast holding property. These tapes are getting to be a preferred choice for engineers totally different areas, extending from aviation and automotive segment. Adhesives act as an elective to mechanical clasp for all sorts of congregations and can be defined with different viscosities as well as drawn into films and tapes concurring to prerequisites.
The exponential surge in the rising requisites for electric vehicles (EVs) drives critical development within the cements and sealant division. As automotive producers grasp naturally neighborly electric portability arrangements, inventive holding advances are getting to be basic for the complicated get together of EV components. Adhesives and sealants, a critical member in this move, allow the lightweight manufacture of components, seal high-voltage battery frameworks, and contribute to the in general improved execution of electric vehicles.
Comprehensive Analysis of Adhesives and Sealants Market
The adhesive technology analysis resulted in the segmentation categorized as water-based, reactive, solvent-based, hot-melt. Among all these adhesive technologies, the reactive segment proved to leading and most useful. On the reference of adhesive end-user industry, the market pool for adhesive and sealants are categorized into building and construction, automotive and transportation, woodworking, paper and packaging, and consumer DIY. Of all these segments the paper and packaging were denoted the dominant category. On the bifurcation of sealant resin analysis, the market is portioned into emulsion, silicone, polyurethane, polysulfide and others. The sealant end-use analysis segmentation resulted into the classification as consumer, automotive and transportation, building and construction and others.
An overwhelming adhesives and sealants market share was acquired by the Asia Pacific continent generating a revenue of over USD 29.70 billion in the prescribed year. This can be owing to the rising request from the building & development, car, and bundling segments. The showcase in this locale is driven by components such as developing populace and surging consumption within the mechanical division. The rising populace is augmenting the request for vehicles, driving to high item request within the automotive industry.
The market for adhesives and sealants is divided in nature and comprises small-scale and medium-scale companies. Most of them are ceaselessly embracing techniques, such as acquisitions, collaborations, unused item dispatches, and growing their fabricating offices, to fortify their positions within the advertise and drive business growth. Key players such as 3M (U.S.), BASF SE (Germany), PPG Industries (U.S.), Sika AG (Switzerland), Arkema S.A. (France), Ashland Inc. (U.S.), Evonik Industries (Germany), H.B. Fuller Company (U.S.), Henkel Corporation (Germany), RPM International Inc. (U.S.) have created a strong regional nearness, dissemination channels, and item offerings to preserve their position within the showcase.
In between the month of February 2023, the 3M company divulges its modern therapeutic cement that can adhere to the skin for up to 28 days and is expecting for utilize with a wide cluster of wellbeing screens, sensors, and long-term restorative wearables. Earlier to 2022, the standard wear time for expanded therapeutic cements was up to 14 days. 3M presently copies that standard to assist convey a more patient-centric demonstrate of care.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 4.6% from 2024 to 2032
Unit Volume (Kiloton), Value (USD Billion)
Segmentation By Adhesive Technology
Water-based
Solvent-based
Hot-melt
Reactive
Others
By Adhesive End-use Industry
Paper & Packaging
Building & Construction
Woodworking
Consumer/DIY
Automotive & Transportation
Leather & Footwear
Others
By Sealant Resin
Silicone
Polyurethane
Emulsion
Polysulfide
Others
By Sealant End-use Industry
Building & Construction
Automotive & Transportation
Consumer
Others
By Region
North America (By Adhesive Technology, By Adhesive End-use Industry, By Adhesive Country, By Sealant Resin, By Sealant End-use Industry, By Sealant Country)
U.S. (By End-use Industry)
Canada (By End-use Industry)
Europe (By Adhesive Technology, By Adhesive End-use Industry, By Adhesive Country, By Sealant Resin, By Sealant End-use Industry, By Sealant Country)
Germany (By End-use Industry)
U.K. (By End-use Industry)
France (By End-use Industry)
Italy (By End-use Industry)
Spain (By End-use Industry)
Rest of Europe (By End-use Industry)
Asia Pacific (By Adhesive Technology, By Adhesive End-use Industry, By Adhesive Country, By Sealant Resin, By Sealant End-use Industry, By Sealant Country)
China (By End-use Industry)
India (By End-use Industry)
Japan (By End-use Industry)
South Korea (By End-use Industry)
Rest of Asia Pacific (By End-use Industry)
Latin America (By Adhesive Technology, By Adhesive End-use Industry, By Adhesive Country, By Sealant Resin, By Sealant End-use Industry, By Sealant Country)
Brazil (By End-use Industry)
Rest of Latin America (By End-use Industry)
Middle East & Africa (By Adhesive Technology, By Adhesive End-use Industry, By Adhesive Country, By Sealant Resin, By Sealant End-use Industry, By Sealant Country)
South Africa (By End-use Industry)
Saudi Arabia (By End-use Industry)
Rest of the Middle East & Africa (By End-use Industry)