Adhesives And Sealants Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 81.03 Billion |
| Market Size (2029) | USD 109.82 Billion |
| CAGR (2024 - 2029) | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adhesives And Sealants Market Analysis
The Adhesives And Sealants Market size is estimated at USD 81.03 billion in 2024, and is expected to reach USD 109.82 billion by 2029, growing at a CAGR of greater than 6% during the forecast period (2024-2029).
COVID-19 had a significant impact on the adhesives and sealants market, causing both disruptions and opportunities. The pandemic led to lockdowns and disruptions in the construction, automotive, and manufacturing end-user industries. This resulted in a decline in demand for adhesives and sealants in the short term. However, the pandemic also fueled the demand for adhesives and sealants used in medical supplies, personal protective equipment, and hygiene products. The market studied has now recovered from the initial impact of COVID-19, and it is expected to continue to grow in the long term.
- Expanding packaging and building and construction industries worldwide are expected to drive the demand in the market studied during the forecast period.
- However, strict environmental regulations set by the government on the use of volatile organic compounds are anticipated to hamper the growth of the market.
- The increasing awareness about renewable and eco-friendly products is projected to generate opportunities in the adhesives and sealants market in the coming years.
- The Asia-Pacific region represents the largest market. It is also expected to be the fastest-growing market over the forecast period. This is due to the rise in consumption from China, India, and ASEAN countries.
Adhesives And Sealants Market Trends
Packaging Industry to Dominate the Market
- The packaging segment is the largest consumer of the adhesives and sealants market. The packaging industry is witnessing strong demand from end-user industries, such as food and beverages, cosmetics, consumer goods, stationery, etc.
- The current rise in oil costs favors paperboard over plastics, finally giving paperboard an advantage, plateauing at 41% of the worldwide packaging sales for a decade, even as the share of plastic increased by 5% to 37% during the same period.
- As per the CEPI, the European Union's member countries collectively produced 84.8 million tons of paper and board in 2022. In 2022, there was a decline in nearly all paper and board categories, except for household and sanitary grades, which exhibited notable exceptions. Concurrently, paper consumption demonstrates rated stability despite the economic slowdown experienced in the European Union.
- In the United States, the differential growth across materials and formats is a by-product of the shifting consumer behaviors and product innovation within the market. This drives the fundamental shifts in the packaging industry.
- The beverage industry in the United States has experienced substantial growth as a result of shifting trends in consumer habits. According to PMMI's Beverage Report, the North American beverage industry is expected to grow by 4.5% during the period of 2018 to 2028. Sellers are anticipated to achieve the major portion of beverage sales in North America.
- The increase in the use of internet technologies and web applications support the growth of online retail shopping. This phenomenon supports the growth of the packaging industry.
- The demand for cosmetics and food and beverage products is expected to increase due to the growth in population, the demand for quality products, urbanization, and the consumers’ inclination toward technology. This factor is fueling the demand in the packaging industry.
- Hence, the demand in the adhesives and sealants market is expected to increase due to the robust growth of the global packaging industry during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market. The increasing demand from industries such as packaging, construction, automotive, healthcare, etc., in countries such as China, India, and Japan is driving the market.
- China's growth is fueled mainly by rapid expansion in the residential and commercial building sectors and the country's expanding economy. China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030. As a result, increased building activity in nations like China is projected to fuel the region's adhesive industry. All such factors tend to increase the demand for adhesives across the region.
- Industries such as food and beverage, cosmetics, and consumer goods are continuously innovating new products, increasing production, and resorting to attractive packaging materials to attract customers. For example, in India, the packaging category is the highest end-user category, holding about 67% of total adhesive users.
- According to the Indonesian Packaging Association, the majority of demand is made up of flexible and rigid plastic packaging, driven by the domestic food, beverage, and pharmaceutical industries.
- The adhesives are an excellent substitute for nuts & bolts used in the automotive and aerospace industry, and hence, their increasing application automatically minimizes the overall weight of the vehicle.
- As per OICA, the Global Automotive Industry is currently growing at a substantial rate of 6% in 2022 over 2021. In 2022, various developed and developing countries across the world, including China, Germany, South Korea, Canada, the United Kingdom, and Italy, experienced an increase in automotive production. In 2022, over 85 Million Units of Motor vehicles were manufactured.
- Furthermore, several countries in the region are putting efforts into enhancing the automotive sector by investing heavily in electric cars to achieve net zero emissions. For example, as of 2022, approximately 3% of passenger cars sold in Japan were electric vehicles, increasing by 1.8% compared to the previous year.
- Construction activities are growing in the region with the lockdown measure eased up. The area is always at the forefront of infrastructure development and is expected to witness growth in funding for construction activities in the forecast period, hence driving the market.
- As per Invest India, the Indian construction industry is expected to reach USD 1.4 Trillion by 2025, and the construction industry in India works across 250 sub-sectors with linkages across sectors and over 54 global innovative construction technologies identified under a Technology Sub-Mission of PMAY-U to start a new era in Indian Construction Sectors.
- According to the National Bureau of Statistics of China, the value of construction output accounted for CNY 31.2 trillion (USD 4.5 trillion) in 2022, up from CNY 29.31 trillion (USD 4.2 trillion) in 2021. Moreover, as per the forecast given by the Ministry of Housing and Urban-Rural Development, China’s construction sector is expected to maintain a 6% share of the country’s GDP going into 2025.
- Furthermore, South Korean builders' overseas building orders have surpassed 30 billion US dollars for the third consecutive year in 2022, owing to strong demand from Asia, North America, and the Pacific Ocean regions.
- Hence, such market trends are expected to significantly impact the growth of the adhesives and sealants market in the region during the forecast period.
Adhesives and Sealants Industry Overview
The global adhesives and sealants market is fragmented in nature. The major players (not in any particular order) include Henkel AG & Co. KGaA, 3M, H.B. Fuller Company., Arkema, and Sika AG, among others.
Adhesives and Sealants Market Leaders
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3M
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Henkel AG & Co. KGaA
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Sika AG
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Arkema
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H.B. Fuller Company
*Disclaimer: Major Players sorted in no particular order
Adhesives and Sealants Market News
- May 2023: Henkel AG & Co. KGaA, a global leader in adhesives, sealants, and functional coatings, has officially opened its Technology Center in Bridgewater, New Jersey, US. The facility showcases Henkel’s entire technology portfolio of adhesives, sealants, functional coatings, and specialty materials and supports an environment for collaboration with customers from over 800 industry segments to develop innovative solutions.
- September 2022: Henkel AG & Co. KGaA expanded its production facility in Brandon, South Dakota, to manufacture thermal interface material adhesives. These adhesives are used in the electronics and automotive industry and sold under Loctite and Bergquist.
- January 2022: Bostik, the adhesive solution company of Arkema, signed an agreement with DGE Group, a specialty chemicals distributor, to distribute its products in Europe, the Middle East, and Africa. This agreement includes Born2Bond engineering adhesives designed for automotive, electronics, luxury packaging applications, and several others for by-the-dot applications.
Adhesives & Sealants Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Report
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Expanding Building and Construction Sector
- 4.1.2 Increasing Demand from the Packaging Industry
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
- 4.2.2 High Fluctuations in Raw Material Pricing
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Adhesive Resin
- 5.1.1 Polyurethane
- 5.1.2 Epoxy
- 5.1.3 Acrylic
- 5.1.4 Silicone
- 5.1.5 Cyanoacrylate
- 5.1.6 VAE/EVA
- 5.1.7 Other Resins (Polyester, Rubber, etc.)
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5.2 Adhesives Technology
- 5.2.1 Solvent-borne
- 5.2.2 Reactive
- 5.2.3 Hot Melt
- 5.2.4 UV-cured Adhesives
- 5.2.5 Water-borne
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5.3 Sealant Resin
- 5.3.1 Silicone
- 5.3.2 Polyurethane
- 5.3.3 Acrylic
- 5.3.4 Epoxy
- 5.3.5 Other Resins (Bituminous, Polysulfide UV-curable, etc.)
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5.4 End-user Industry
- 5.4.1 Aerospace
- 5.4.2 Automotive
- 5.4.3 Building and Construction
- 5.4.4 Footwear and Leather
- 5.4.5 Healthcare
- 5.4.6 Packaging
- 5.4.7 Woodwork and Joinery
- 5.4.8 Other End-user Industries (Electronics, Consumer/DIY, etc.)
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5.5 Geography
- 5.5.1 Asia-Pacific
- 5.5.1.1 China
- 5.5.1.2 India
- 5.5.1.3 Japan
- 5.5.1.4 South Korea
- 5.5.1.5 Indonesia
- 5.5.1.6 Malaysia
- 5.5.1.7 Thailand
- 5.5.1.8 Vietnam
- 5.5.1.9 Rest of Asia-Pacific
- 5.5.2 North America
- 5.5.2.1 United States
- 5.5.2.2 Canada
- 5.5.2.3 Mexico
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 France
- 5.5.3.4 Italy
- 5.5.3.5 Spain
- 5.5.3.6 Russia
- 5.5.3.7 Turkey
- 5.5.3.8 NORDIC Countries
- 5.5.3.9 Rest of Europe
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Colombia
- 5.5.4.4 Rest of South America
- 5.5.5 Middle East and Africa
- 5.5.5.1 Saudi Arabia
- 5.5.5.2 South Africa
- 5.5.5.3 Qatar
- 5.5.5.4 United Arab Emirates
- 5.5.5.5 Egypt
- 5.5.5.6 Algeria
- 5.5.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) **/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Akzo Nobel NV
- 6.4.2 3M
- 6.4.3 Aica Kogyo Co. Ltd
- 6.4.4 Arkema Group
- 6.4.5 AVERY DENNISON CORPORATION
- 6.4.6 Dow
- 6.4.7 DuPont
- 6.4.8 H.B. Fuller Company
- 6.4.9 Henkel AG & Co. KGaA
- 6.4.10 Huntsman International LLC
- 6.4.11 Illinois Tool Works Inc.
- 6.4.12 MAPEI SpA
- 6.4.13 NANPAO RESINS CHEMICAL GROUP
- 6.4.14 Pidilite Industries Ltd
- 6.4.15 Sika AG
- 6.4.16 Soudal Holding NV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Awareness of Renewable and Eco-friendly Products
- 7.2 Increasing Use of Digital Technologies in Manufacturing and Marketing
Adhesives And Sealants Industry Segmentation
Adhesives are substances that join or bond two or more surfaces together by sticking to them. They are a type of material that provides cohesion between different substrates, creating a durable and often permanent bond. Adhesives are used in various applications, from everyday household use to industrial and technological processes.
Sealants are materials used to fill, seal, or close gaps and joints to prevent the passage of liquids or gases. They are designed to provide a barrier against moisture, air, dust, and other environmental elements. Sealants are commonly used in construction, automotive, aerospace, and other industries to create airtight and watertight seals and provide insulation and protection.
The adhesives and sealants market is segmented by adhesive resin, adhesives technology, sealant resin, end-user industry, and geography. By adhesive resin, the market is segmented into polyurethane, epoxy, acrylic, silicone, cyanoacrylate, VAE/EVA, and other resins (polyester, rubber, etc.). By adhesives technology, the market is segmented into solvent-borne, reactive, hot melt, UV-cured, and water-borne adhesives. The market is segmented into silicone, polyurethane, acrylic, epoxy, and other resins (bituminous, polysulfide, UV-curable, etc.) by sealant resin. By end-user industry, the market is segmented into aerospace, automotive, building and construction, footwear and leather, healthcare, packaging, woodwork and joinery, and other end-user industries (electronics, consumer/DIY, etc.). The report also covers the market size and forecasts for the adhesives and sealants market in 27 major countries across the major regions. The report offers the market size in value terms in USD for all the abovementioned segments.
| Adhesive Resin | Polyurethane | |
| Epoxy | ||
| Acrylic | ||
| Silicone | ||
| Cyanoacrylate | ||
| VAE/EVA | ||
| Other Resins (Polyester, Rubber, etc.) | ||
| Adhesives Technology | Solvent-borne | |
| Reactive | ||
| Hot Melt | ||
| UV-cured Adhesives | ||
| Water-borne | ||
| Sealant Resin | Silicone | |
| Polyurethane | ||
| Acrylic | ||
| Epoxy | ||
| Other Resins (Bituminous, Polysulfide UV-curable, etc.) | ||
| End-user Industry | Aerospace | |
| Automotive | ||
| Building and Construction | ||
| Footwear and Leather | ||
| Healthcare | ||
| Packaging | ||
| Woodwork and Joinery | ||
| Other End-user Industries (Electronics, Consumer/DIY, etc.) | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Indonesia | ||
| Malaysia | ||
| Thailand | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Turkey | ||
| NORDIC Countries | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Qatar | ||
| United Arab Emirates | ||
| Egypt | ||
| Algeria | ||
| Rest of Middle East and Africa |
Adhesives & Sealants Market Research FAQs
How big is the Adhesives And Sealants Market?
The Adhesives And Sealants Market size is expected to reach USD 81.03 billion in 2024 and grow at a CAGR of greater than 6% to reach USD 109.82 billion by 2029.
What is the current Adhesives And Sealants Market size?
In 2024, the Adhesives And Sealants Market size is expected to reach USD 81.03 billion.
Who are the key players in Adhesives And Sealants Market?
3M, Henkel AG & Co. KGaA, Sika AG, Arkema and H.B. Fuller Company are the major companies operating in the Adhesives And Sealants Market.
Which is the fastest growing region in Adhesives And Sealants Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Adhesives And Sealants Market?
In 2024, the Asia Pacific accounts for the largest market share in Adhesives And Sealants Market.
What years does this Adhesives And Sealants Market cover, and what was the market size in 2023?
In 2023, the Adhesives And Sealants Market size was estimated at USD 76.17 billion. The report covers the Adhesives And Sealants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Adhesives And Sealants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Adhesives & Sealants Industry Report
Statistics for the 2024 Adhesives and Sealants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Adhesives and Sealants analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
