Adhesive and Sealant Market Trends and Forecast
The future of the global adhesive and sealant market looks promising with opportunities in the paper board & packaging, building & construction, woodworking & joinery, transportation, footwear & leather, and medical markets. The global adhesive and sealant market is expected to reach an estimated $102.5 billion with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are increased consumer demand for do-it-yourself projects, rising construction activities, and increasing demand for high-performance adhesives & sealants.
Resins (epoxy, polyurethane and silicone) solvents and fillers are the major constituents of adhesives and sealants. Cross-linking is done using other important ingredients such as hardeners or curing agents for plasticizers that improve flexibility and different additives like stabilizers and thickeners enhancing performance. Also, natural polymers e.g., cellulose or starch and synthetic polymers like acrylates or butyl rubber can be used to adjust properties for specific applications.
Prices of adhesives and sealants vary greatly depending on their type and use. For example, specialty adhesives & sealants including aerospace or medical applications are relatively expensive compared to general-purpose products. However, whereas premium formulations or brands with advanced performance features may have higher pricing than competitors in relation to adhesives & sealants; it is also possible to find economic solutions for standard industrial uses.
• Lucintel forecasts that adhesive is expected to witness higher growth over the forecast period.
• Within this market, building & construction is expected to witness the highest growth.
Country Wise Outlook for the Adhesive and Sealant Market
The adhesive and sealant market is witnessing substantial growth globally, driven by increased consumer demand for do-it-yourself projects. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major adhesive and sealant producers in key regions: the USA, China, India, Brazil, and Germany.
Emerging Trends in the Adhesive and Sealant Market
Emerging trends in the adhesive and sealant market shaping its future applications and market dynamics:
• Sustainable and Eco-Friendly Products: The development of biodegradable and recyclable glues that are based on polysaccharides is being fueled by growing attention to environmental sustainability.
• Smart Adhesives: This has led to the use of smart catalysts, temperature or pH responsive adhesives for advanced technology purposes.
• High-Performance Adhesives: Advanced formulations are being developed in response to the growing need for durable and strong adhesives utilized in industries like automotive, aerospace and construction.
• Customization and Tailored Solutions: Market offerings are shaped by the demand for industry-specific requirements and applications such as customized adhesives and sealants
• Growth in Emerging Markets: Ever-increasing industrial activities in emerging regions accelerate the demand for adhesives and sealants thus opening new market opportunities.
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Recent Development in the Adhesive and Sealant Market
Ongoing innovations and advancements in various sectors of the adhesive and sealant market which have been highlighted by recent developments:
• Henkel: Henkel announced a major expansion in its portfolio of sustainable adhesives, focusing on eco-friendly formulations that use renewable resources and reduce carbon emissions.
• 3M: 3M introduced a new line of medical-grade adhesives designed for improved skin compatibility and durability, catering to the growing demand in the healthcare sector.
• Sika: Sika acquired MBCC Group, enhancing its capabilities in construction adhesives and sealants. This acquisition is expected to strengthen Sika's market presence and product offerings.
• Bostik (Arkema): Bostik launched a range of smart adhesives with temperature and moisture resistance, aimed at improving performance in demanding industrial applications.
• H.B. Fuller: H.B. Fuller invested in new research and development facilities to advance the development of high-performance adhesives for automotive and industrial applications.
Strategic Growth Opportunities for Adhesive and Sealant Market
Some key strategic growth opportunities for this market include:
Expansion into Emerging Markets:
With development of industries and infrastructures in areas such as Asia-Pacific and Latin America; there are great chances for expansion.
Development of Eco-Friendly Products:
The growth in greenness awareness is leading to demand for eco-friendly or environment-friendly, low-VOC (volatile organic compounds) adhesives/sealants.
Advancements in Technology:
Innovations in smart adhesives and sealants with enhanced performance characteristics can open new application areas and drive market growth.
Growth in End-Use Industries:
In the automotive, aerospace, construction, healthcare sectors which are expanding; they all offer niche markets for adhesive & sealant solutions that are specialized.
Mergers and Acquisitions:
By acquiring strategically or partnering, companies can strengthen their positions on the market with a wider range of products and stronger technological advantages.
For the adhesives and sealants market to grow substantially, it should enter new markets and produce environmentally-conscious high-performance products designed to address different industry demands. Also, strategic investments in R&D and acquisitions for expanding the market will enhance innovation.
Adhesive and Sealant Market Driver and Challenges
Factors including the advancing automotive industry, booming construction sector and technology advancements are driving the fast-growing adhesives and sealants market. The market is however beset with various obstacles such as fluctuating prices of raw materials, tough regulations and cut throat competition. For stakeholders seeking to negotiate their way through these intricacies while capitalizing on emerging prospects in a rapidly changing field, it is important to appreciate these drivers and challenges.
The factors responsible for driving the adhesives and sealants market include:
Growth of Construction Industry: Boost in construction activities due to building and infrastructure projects raises demand for adhesives and sealants.
Increase in Car Production Rate: The need for high-performance adhesives and sealants for vehicle assembly and repair is driven by the growing automotive industry.
Advancement in Technology: Innovation in adhesive formulations as well as application technologies improve performance and open up new areas of application.
Rising Consumer DIY Activities: The demand for adhesives and sealants increases with the trend towards home improvement and DIY projects.
Challenges in the adhesives and sealants market are:
Volatile Raw Material Prices: Changes in prices as well as disruptions to supply chains of some major raw materials could affect production costs and product pricing.
Tough Competition among Organizations Manufacturing Products of Adhesive nature: Due to its competitive environment, this industry necessitates constant innovation besides differentiation if a firm has to hold onto its market share.
Concerns about Health & Safety: Product performance standards complicate the process of ensuring that products are both non-toxic and safe leading to higher research budgets.
Increased construction activity and technological advancementsoffer tremendous growth potential for adhesives and sealants market. However, the industry must grapple with issues of raw material price volatility, regulatory compliance, competitive forces, among others if it hopes to grow and remain profitable. It is therefore crucial for organizations to critically manage these conditions since they will enable them exploit any chances that may arise or overcome any barriers likely to come on their way in this lively market.
Adhesive and Sealant Suppliers and Their Market Shares
In this globally competitive market, several key players such as Arkema, BASF, Evonik Industries, H.B. Fuller, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players contact us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies adhesive and sealant companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the adhesive and sealant companies profiled in this report include-
• Arkema
• BASF
• Evonik Industries
• H.B. Fuller
• Henkel
• Lord Corporation
• Scott Bader
• Sika
• The 3M Company
• Uniseal
These companies have established themselves as leaders in the adhesive and sealant industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the adhesive and sealant market are evolving, with the entry of new players and the emergence of innovative adhesive and sealant technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Adhesive and Sealant Market by Segment
The adhesives and sealants market has witnessed rapid growth in recent years. These include construction adhesives, automotive sealants, and medical adhesives. The growing demand for infrastructure development is driving the need for construction adhesives. Similarly, there has been increasing need for automotive sealants in order to cater for rising vehicles production with the growing number of repairs carried out. In addition, the increased usage of healthcare technologies has increased the demand for medicines causing a significant rise in number of medical devices all over the world.
Adhesive and Sealant Market by Product [Value from 2018 to 2030]:
• Adhesive
• Sealant
Adhesive and Sealant Market by Application [Value from 2018 to 2030]:
• Paper Board & Packaging
• Building & Construction
• Woodworking & Joinery
• Transportation
• Footwear & Leather
• Medical
• Others
Adhesive and Sealant Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Features of the Global Adhesive and Sealant Market
Market Size Estimates: Adhesive and sealant market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Adhesive and sealant market size by product, application, and region in terms of value ($B).
Regional Analysis: Adhesive and sealant market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, applications, and regions for the adhesive and sealant market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the adhesive and sealant market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the adhesive and sealant market size?
Answer: The global adhesive and sealant market is expected to reach an estimated $102.5 billion by 2030.
Q2. What is the growth forecast for adhesive and sealant market?
Answer: The global adhesive and sealant market is expected to grow with a CAGR of 4.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the adhesive and sealant market?
Answer: The major drivers for this market are increased consumer demand for do-it-yourself projects, rising construction activities, and increasing demand for high-performance adhesives & sealants.
Q4. What are the major segments for adhesive and sealant market?
Answer: The future of the adhesive and sealant market looks promising with opportunities in the paper board & packaging, building & construction, woodworking & joinery, transportation, footwear & leather, and medical markets.
Q5. Who are the key adhesive and sealant market companies?
Answer: Some of the key adhesive and sealant companies are as follows:
• Arkema
• BASF
• Evonik Industries
• H.B. Fuller
• Henkel
• Lord Corporation
• Scott Bader
• Sika
• The 3M Company
• Uniseal
Q6. Which adhesive and sealant market segment will be the largest in future?
Answer: Lucintel forecasts that adhesive is expected to witness higher growth over the forecast period.
Q7. In adhesive and sealant market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the adhesive and sealant market by product (adhesive and sealant), application (paper board & packaging, building & construction, woodworking & joinery, transportation, footwear & leather, medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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