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Adhesives and Sealants Market Size To Reach USD 107.27 Billion By 2030, Due To Rising Demand From Construction, Automotive, Paper And Packaging Industries | Grand View Research, Inc.

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Adhesives and Sealants Market Size To Reach USD 107.27 Billion By 2030, Due To Rising Demand From Construction, Automotive, Paper And Packaging Industries | Grand View Research, Inc.

June 07
07:28 2022
Adhesives and Sealants Market Size To Reach USD 107.27 Billion By 2030, Due To Rising Demand From Construction, Automotive, Paper And Packaging Industries | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to new report available with Grand View Research, Rising investments in construction and infrastructure is projected to play a key role in the expansion of the global adhesive & sealants industry. The positive outlook of infrastructure projects across Asia, the U.S., the Middle East, and Eastern Europe is likely to fuel the demand for adhesives and sealants over the coming years.

Adhesives And Sealants Industry Overview

The global adhesives and sealants market size was valued at USD 63.79 billion in 2021 and is expected to reach USD 107.27 billion by 2030, at a CAGR of 5.9% from 2022 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.

Gather more insights about the market drivers, restrains and growth of the Global Adhesives And Sealants Market

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 2022 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.

                             U.S. adhesives market size, by technology, 2020 - 2030 (USD Billion)

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 Y-O-Y growth of 0.4% in 2020.

 

Adhesives And Sealants Market Segmentation

Based on the Technology Insights, the market is segmented into Water based, Solvent based, Hot melt, Reactive & other.

  • Reactive & others segment held the largest share of over 48% in the global adhesives market, in terms of volume. Reactive technology-based products offer several advantages and thus are the key factors behind the growth of the segment.
  • 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. 

 

Based on the Product Insights, the market is segmented into Acrylic, PVA, Polyurethanes, Styrenic block, Epoxy, EVA, Silicones, Polyvinyl acetate and Other.

  • The silicones segment attracted the highest demand in the sealants market and accounted for a share of over 31.0% in 2021, in terms of volume.
  • 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.

 

Based on the Application Insights, the market is segmented into Paper & packaging, Consumer & DIY, Building & construction, Furniture & woodworking, Footwear & leather, Automotive & transportation, Medical, Assembly and Other.

  • Paper & packaging was the largest segment in the adhesives industry and accounted revenue share of over 29% in 2021. Flexible packaging is projected to new avenues for market players over the coming years.
  • 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.

 

Based on the Adhesives And Sealants Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

  • Asia Pacific dominated the market and accounted for nearly 37.0% share of global volume in 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.

 

Market Share Insights:

  • September 2019: Sika AG, a specialty chemical company, acquired Crevo-Hengxin, a manufacturer of silicone sealants and adhesives based in China. This acquisition was done to expand target markets and sealing & bonding presence in China and the Asia-Pacific region.
  • July 2020: Arkema acquired Fixatti, a manufacturer of thermos-bonding adhesive powder. This acquisition was done to strengthen the global offering of hot melt adhesive solutions for niche industrial applications in industries, such as construction, automotive, textile and others.

 

Key Companies Profile:

The global adhesives & 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 chain at different levels witnessed different obstacles such as shortage of raw materials & labor, the halting of industrial production, etc.

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.

 

Order a free sample PDF of the Adhesives And SealantsMarket Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market

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