December 2017

Adhesives and Sealants Market - Segmented by Product Type, End-user Industry and Geography - Trends and Forecasts (2018 - 2023)

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The global adhesives market was valued at USD 43,909.30 million in 2016, and is expected to register a CAGR of 5.10% during the forecast period, 2018-2023. The global sealants market was valued at USD 8,991.70 million in 2016, nd is expected to register a CAGR of 6.39% during the forecast period, 2018-2023.

Adhesives and sealants are often grouped together, as they both are applied to the surfaces of materials to adhere and seal them together. They are generally available in the liquid form, which is viscous in nature, with no or little flow characteristics.

Key factors driving the market growth include dynamic economic development in Asia-Pacific and accelerating demand from the automotive industry. The usage of adhesives for composite joints has been consistently increasing in numerous applications, and this is driving the adhesives market. The demand for adhesives in the packaging industry is increasing with the increase in end-user applications. 

The volatility in the raw material prices affects and increases the pressure on the profit margins of the adhesives and sealants manufacturers. Additionally, there is a massive amount of environmental concern involved in the adhesives & sealants market, which is a restraint for the same.

Adhesives and sealants, owing to their ability to bind different materials together by distributing stress more efficiently across the joint, are becoming an integral part of various commercial and industrial sectors. In the global adhesives and sealants market report, we have considered the following major end-user sectors:

  • building and construction
  • paper, board, & packaging
  • transportation
  • woodworking and joinery
  • footwear & leather
  • healthcare
  • electrical & electronics
  •  others

The market has been segmented into adhesives by technology (water-borne, solvent-borne, reactive, hot melts, and others), sealants by product type (silicone, polyurethane, acrylic, polyvinyl acetate, and others), and end-user industry (building & construction; paper, board, & packaging; woodworking & joinery; transportation; footwear & leather; healthcare; electrical and electronics; healthcare; and others).

In terms of revenue in 2017, water-borne adhesives dominated the global adhesives market, with a share of arond 44%. Additionally, in 2017, in terms of revenue, silicone-based sealants dominated the global sealants market with a share of 44.02%.

The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and Middle-East & Africa. Asia-Pacific adhesive market is expected to register a CAGR of 3.63% through 2023 in volume terms. With the improvement in the financial status of the consumers, the purchasing power of the middle-class consumers has increased, which in turn is augmenting the demand for automobiles and buildings (in turn increasing the construction activities) in the Asia-Pacific region, making the region an area of immense potential and opportunities. However, the volatility in the raw material prices in the region has considerably hindered the growth of this market. The chart below depicts the global geographical market split for the year 2017. 

Furthermore, the recovering construction industry in the European region and accelerating demand for electric vehicles across the world will offer numerous opportunities for the growth of the global adhesives and sealants market. Some of the major companies dominating this market for its products, services, and continuous product development are 3M, Dow Chemicals, Henkel AG & Co. KGaA, Avery Dennison, Sika AG, and Ashland Inc.

Few Notable Developments in the Market

  • In Aug 2017, Sika AG completed the acquisition of ABC Sealants, a major manufacturer of adhesives and sealants in Turkey. 
  • In Sept, 2017, H.B. Fuller announced its decision to acquire Royal Adhesives & Sealants, a major manufacturer of specialty adhesives and sealants.

Key Deliverables in the Study

  • Market analysis for the global adhesives and sealants market, with region-specific assessments and competition analysis on a global and regional scale.
  • Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
  • Extensively researched competitive landscape section with profiles of major companies along with their market share.
  • Identification and analysis of the macro and micro factors that affect the global adhesives and sealants market on both, global and regional scales.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
  • Insights on the major countries/regions where this industry is growing and identify the regions that is still untapped.
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