Adhesives and Sealants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Adhesives and Sealants Market is segmented by Adhesive Technology (Water-borne, Solvent-borne, Reactive, Hot Melt, and Other Adhesive Technologies), Sealant Product Type (Silicone, Polyurethane, Acrylic, Polyvinyl Acetate, and Other Sealant Product Types), End-user Industry (Building and Construction, Paper, Board, and Packaging, Transportation, Woodworking and Joinery, Footwear and Leather, Healthcare, Electrical and Electronics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Adhesives and Sealants Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4.5 %

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Market Overview

The adhesives and sealants market was valued at over USD 59 billion in 2020, and the market is projected to register a CAGR of over 4.5% during the forecast period (2021-2026).

Owing to the COVID-19 impact across the world, various construction activities have been halted, and industrial activities have been put on hold for quite a long period. For instance, according to OICA, automobile production declined by around 23% in the first nine months of 2020 compared to the same period in 2019. This has negatively affected the demand for adhesives and sealants in 2020.

  • Over the medium term, major factors driving the growth of the market studied are the shifting focus toward the usage of composites and the increasing demand from the packaging industry.
  • The packaging segment dominated the market, and it is likely to grow during the forecast period, owing to the robust growth in demand for packaging materials from the food and beverage and e-retail companies.
  • The rising demand for bio-based adhesives is likely to provide huge opportunities for the market studied over the forecast period.
  • Asia-Pacific dominated the market across the world, with robust demand from the end-user industries, such as packaging, transportation, electronics, construction, and furniture.

Scope of the Report

Adhesives are made from a combination of resins, additives, and solvents. The composition of the resins and additives entirely depends on the end use to which they are put to. The adhesives and sealants market is segmented by adhesive technology, sealant product type, end-user industry, and geography. By adhesive technology, the market is segmented into water-borne, solvent-borne, reactive, hot melt, and other adhesive technologies. By sealant product type, the market is segmented into silicone, polyurethane, acrylic, polyvinyl acetate, and other sealant product types. By end-user industry, the market is segmented into building and construction, paper, board, and packaging, transportation, woodworking and joinery, footwear and leather, healthcare, electrical and electronics, and other end-user industries. The report also covers the market size and forecasts for the adhesives and sealants market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton) and revenue (USD million).

Adhesives Technology
Water-borne
Acrylic
Polyvinyl Acetate (PVA) Emulsion
Ethylene Vinyl Acetate (EVA) Emulsion
Polyurethane Dispersion and CR (Chloroprene Rubber) Latex
Other Water-borne Adhesives
Solvent-borne
Chloroprene Rubber
Poly Acrylate (PA)
Styrenic Block Copolymers
Other Solvent-borne Adhesives
Reactive
Polyurethane
Epoxy
Cyanoacrylate
Modified Acrylic
Anaerobic
Silicone
Other Reactive Adhesives
Hot Melt
Ethylene Vinyl Acetate
Styrenic Block Copolymers
Thermoplastic Polyurethane
Other Hot Melt Adhesives
Other Adhesive Technologies
Sealant Product Type
Silicone
Polyurethane
Acrylic
Polyvinyl Acetate
Other Sealant Product Types
End-user Industry
Building and Construction
Paper, Board, and Packaging
Transportation
Woodworking and Joinery
Footwear and Leather
Healthcare
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Australia & New Zealand
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Paper, Board, and Packaging Segment to Dominate the Market Demand

  • The paper, board, and packaging segment is the largest consumer of the adhesives and sealants market. The packaging industry has been witnessing strong demand from end-user industries, such as food and beverages, cosmetics, consumer goods, stationery, and other end-user industries.
  • Online retail shopping is increasing at a higher rate with the rising internet technologies and web applications, which has largely supported the growth of the packaging industry.
  • Moreover, the demand for cosmetics and food and beverage products is expected to grow due to the growing population and demand for quality products, urbanization, and consumers inclining toward technology, hence, fueling the demand for the packaging industry.
  • Asia-Pacific is expected to witness the strongest growth in the demand for packaging materials due to the robust economic performance of the developing countries, promising robust market demand, and the growing population, which is adding new demand to the market.
  • The flexible packaging market in the Asia-Pacific region is expected to reach USD 131 billion by 2023 at an estimated CAGR of over 4.5% during the period 2018-2023.
  • Matured markets like Europe and North America are also expected to witness noticeable growth in their packaging industry due to the influence of online retail business trends.
  • Hence, with such robust growth of the packaging industry across the world, the demand in the adhesives and sealants market is also expected to increase during the forecast period.
Adhesives and Sealants Market Revenue Share

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share of more than 40%. The increasing demand from industries, such as packaging, construction, and electronics in the countries such as China, India, and Japan.
  • Industries such as food and beverage, cosmetics, and consumer goods are continuously seen innovating new products, increasing production, and resorting to attractive packaging materials in order to attract customers.
  • Manufacturing companies have been shifting to flexible packaging, as it is lightweight and helps to facilitate selling products in different quantities without making much difference in packaging cost, as in the case of metal or glass packaging.
  • This has been leading to robust growth in the demand for flexible packaging, which is further creating a noticeable demand for adhesives in packaging applications.
  • The Chinese automotive manufacturing industry is the largest in the world. The industry witnessed a huge slowdown in 2018, wherein the production and sales declined. A similar trend continued in 2019, with the production witnessing a 7.5% decline in 2019. According to the China Association of Automobile Manufacturers (CAAM), automotive production has witnessed a decline of around 6.7% in the first nine months of 2020.
  • Hence, such market trends are expected to have a significant impact on the growth of the adhesives and sealants market in the region during the forecast period.
Adhesives and Sealants Market Growth By Region

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Competitive Landscape

The adhesives and sealants market is fragmented with the top five players accounting for almost 36% of the market. Some of the major players in the market include Henkel AG & Co. KGaA, 3M, H.B. Fuller Company, Arkema Group (Bostik SA), and Sika AG, among others.

Recent Developments

  • In September 2019, Henkel invested INR 400 crore in its new production facility near Pune, which caters to the growing demand for a high-performance solution in adhesives and sealants from Indian industries.
  • In November 2018, Arkema Group (Bostik) announced the acquisition of Afinitica, a Spanish company specializing in instant adhesives.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Report

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Shifting Focus Toward Adhesive Bonding for Composite Materials

      2. 4.1.2 Increasing Demand from the Packaging Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations Regarding VOC Emissions

      2. 4.2.2 Impact of COVID-19

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Adhesives Technology

      1. 5.1.1 Water-borne

        1. 5.1.1.1 Acrylic

        2. 5.1.1.2 Polyvinyl Acetate (PVA) Emulsion

        3. 5.1.1.3 Ethylene Vinyl Acetate (EVA) Emulsion

        4. 5.1.1.4 Polyurethane Dispersion and CR (Chloroprene Rubber) Latex

        5. 5.1.1.5 Other Water-borne Adhesives

      2. 5.1.2 Solvent-borne

        1. 5.1.2.1 Chloroprene Rubber

        2. 5.1.2.2 Poly Acrylate (PA)

        3. 5.1.2.3 Styrenic Block Copolymers

        4. 5.1.2.4 Other Solvent-borne Adhesives

      3. 5.1.3 Reactive

        1. 5.1.3.1 Polyurethane

        2. 5.1.3.2 Epoxy

        3. 5.1.3.3 Cyanoacrylate

        4. 5.1.3.4 Modified Acrylic

        5. 5.1.3.5 Anaerobic

        6. 5.1.3.6 Silicone

        7. 5.1.3.7 Other Reactive Adhesives

      4. 5.1.4 Hot Melt

        1. 5.1.4.1 Ethylene Vinyl Acetate

        2. 5.1.4.2 Styrenic Block Copolymers

        3. 5.1.4.3 Thermoplastic Polyurethane

        4. 5.1.4.4 Other Hot Melt Adhesives

      5. 5.1.5 Other Adhesive Technologies

    2. 5.2 Sealant Product Type

      1. 5.2.1 Silicone

      2. 5.2.2 Polyurethane

      3. 5.2.3 Acrylic

      4. 5.2.4 Polyvinyl Acetate

      5. 5.2.5 Other Sealant Product Types

    3. 5.3 End-user Industry

      1. 5.3.1 Building and Construction

      2. 5.3.2 Paper, Board, and Packaging

      3. 5.3.3 Transportation

      4. 5.3.4 Woodworking and Joinery

      5. 5.3.5 Footwear and Leather

      6. 5.3.6 Healthcare

      7. 5.3.7 Electrical and Electronics

      8. 5.3.8 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Australia & New Zealand

        7. 5.4.1.7 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

        4. 5.4.2.4 Rest of North America

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 AdCo (UK) Ltd

      3. 6.4.3 Arkema Group (Bostik SA)

      4. 6.4.4 artimelt AG

      5. 6.4.5 Ashland

      6. 6.4.6 Avery Dennison Corporation

      7. 6.4.7 Beardow Adams

      8. 6.4.8 Buhnen GmbH & Co. KG

      9. 6.4.9 CHEMENCE

      10. 6.4.10 DELO Industrial Adhesives

      11. 6.4.11 Dow

      12. 6.4.12 Dymax

      13. 6.4.13 Franklin International

      14. 6.4.14 H.B. Fuller Company

      15. 6.4.15 Henkel AG & Co. KGaA

      16. 6.4.16 Hexcel Corporation

      17. 6.4.17 Huntsman International LLC

      18. 6.4.18 ITW Performance Polymers

      19. 6.4.19 Jowat SE

      20. 6.4.20 LINTEC Corporation (Mactac)

      21. 6.4.21 Parker Hannifin Corp

      22. 6.4.22 Mapei SpA

      23. 6.4.23 Master Bond

      24. 6.4.24 merz+bentel ag

      25. 6.4.25 Paramelt BV

      26. 6.4.26 Permabond LLC

      27. 6.4.27 Pidilite Industries Ltd

      28. 6.4.28 RPM International Inc.

      29. 6.4.29 Sashco

      30. 6.4.30 Sika AG

      31. 6.4.31 The Soudal Group

      32. 6.4.32 TESA SE - A Beiersdorf Company

      33. 6.4.33 Reynolds Co.

      34. 6.4.34 THE YOKOHAMA RUBBER CO. LTD

      35. 6.4.35 UniSeal Inc.

      36. 6.4.36 Wacker Chemie AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Demand for Bio-based and Hybrid Adhesives

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Adhesives and Sealants Market market is studied from 2016 - 2026.

The Adhesives and Sealants Market is growing at a CAGR of >4.5% over the next 5 years.

The Adhesives and Sealants Market is valued at 59 Billion USD in 2016.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

3M, Henkel AG & Co. KGaA, H.B. Fuller Company, Sika AG, Arkema Group (Bostik SA) are the major companies operating in Adhesives and Sealants Market.

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