Market Overview
| Study Period | 2017 - 2028 |
|---|---|
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2028 |
| Market Size (2024) | USD 12.15 Billion |
| Market Size (2028) | USD 15.26 Billion |
| Growth Rate (2024 - 2028) | 5.85% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Sealants Market Analysis by Mordor Intelligence
The Sealants Market size is estimated at 12.15 billion USD in 2024, and is expected to reach 15.26 billion USD by 2028, growing at a CAGR of 5.85% during the forecast period (2024-2028).
The sealant industry is experiencing significant transformation driven by broader economic trends and infrastructure development initiatives worldwide. The global construction sector is projected to maintain steady growth at 3.5% annually through 2030, with major economies like China, India, the United States, and Indonesia expected to contribute nearly 60% of this expansion. This growth trajectory is supported by increasing urbanization rates, infrastructure modernization programs, and the rising demand for sustainable building solutions. The industry is witnessing a shift toward advanced formulations that offer enhanced durability and environmental compatibility, reflecting the evolving needs of modern construction practices.
Technological advancements and sustainability initiatives are reshaping the sealants landscape, particularly in the electric vehicle (EV) sector, which is projected to grow at an impressive CAGR of 17.75%. Manufacturers are developing specialized sealant solutions that cater to the unique requirements of EV production, including enhanced thermal management properties and compatibility with electronic components. These innovations are complemented by the growing electronics and household appliances industries, which are expected to expand at CAGRs of 2.51% and 5.77% respectively, driving demand for specialized sealing solutions in consumer electronics manufacturing.
The industry is witnessing a notable shift toward eco-friendly formulations and sustainable manufacturing practices. This transition is particularly evident in the construction sector, where green building initiatives and stringent environmental regulations are driving innovation in sealant formulations. Manufacturers are investing in research and development to create products with lower volatile organic compound (VOC) emissions while maintaining or improving performance characteristics. The integration of renewable raw materials and the development of recyclable sealant solutions are becoming increasingly important as sustainability becomes a key differentiator in the market.
Regulatory frameworks and environmental policies are significantly influencing market dynamics, especially in developed regions. The European Union's ambitious climate goals, including targets to reduce CO2 emissions from cars by 55% and vans by 50% by 2030, are accelerating the adoption of advanced sealant technologies in automotive applications. Similar initiatives are being implemented across other major markets, driving investments in environmentally compliant products. Industry players are responding by developing new formulations that meet these stringent requirements while maintaining high performance standards, leading to increased focus on innovation and sustainable product development.
Global Sealants Market Trends and Insights
Growing residential and infrastructural development to thrive the construction sector
- The building and construction industry witnessed steady growth, with a CAGR of 2.6% from 2017 to 2019. This growth was driven by the upswing in global economic activity and increasing demand for single-family homes. In 2020, the COVID-19 pandemic had a major impact on the global building and construction industry. Constraints in labor supply, disruptions in construction finances and the supply chain, and economic uncertainty negatively impacted the global building and construction industry.
- Though the industry showed positive growth in 2021, the pandemic's effect on supply chains, which resulted in a hike in raw material prices, is still plaguing the industry. However, as the construction industry heavily influences a nation's economy, countries in Europe, North America, and Asia-Pacific have used the construction industry to restart their economic cycles by offering support schemes. Some support schemes include the Homebuilder Programme in Australia and the economic recovery plan of EU countries.
- The Asia-Pacific region experiences the highest volume of construction activities, and it is expected to remain the largest construction market till 2028 due to its huge population, increasing urbanization, and increasing investments in infrastructural development in countries like China, India, Japan, Indonesia, and South Korea.
- Increasing emphasis on green buildings and efforts to reduce emissions from global construction activities are expected to result in more sustainable operational procedures during the forecast period. For example, France has sanctioned EUR 7.5 billion for the construction industry to transform itself into a low-carbon energy economy.
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Favorable government policies to promote electric vehicles will propel automotive industry
- Since 2021, the global automotive industry has been expected to grow steadily but at a slower pace because of the decline in consumers' preferences for individual ownership of passenger vehicles and their increased preference for shared mobility in transportation. The global automotive industry is expected to experience a growth rate of 2% annually, with an expected value addition of USD 1.5 trillion in total revenue during the forecast period.
- In 2020, due to the impact of the COVID-19 pandemic, vehicle sales declined but recovered rapidly in 2021 because the governments of various countries took measures to support their economies, as automotive markets usually contribute majorly to their GDP. Vehicle sales declined from 90 million units of passenger vehicles in 2019 to 78 million units in 2020.
- The introduction of electric vehicles worldwide has contributed significantly to the overall revenue of the global automotive market because of their cheaper energy costs, environmentally benign nature, and efficient mobility features. Various government policies and standards also work as driving factors to increase EV production. For instance, the EU standards for CO2 emissions increased the demand for electric vehicles in 2021. As per the IEA's Sustainable Scenario, 230 million electric vehicles are required to replace combustion fuel-based vehicles by 2030. In 2021, Tesla, the largest EV manufacturer, recorded a rise of 157% in the number of electric vehicles manufactured. This growing trend of consumers preferring electric vehicles is expected to rise further during the forecast period (2022-2028).
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil and military aviation will boost the aircraft production
Segment Analysis: End User Industry
Building and Construction Segment in Sealants Market
The building and construction segment dominates the global sealants market, accounting for approximately 62% of the total market share in 2024. This significant market position is primarily driven by the extensive use of joint sealants in various construction applications, including weatherproofing, joint sealing, and structural glazing. The segment's growth is supported by increasing infrastructure development activities across regions, particularly in Asia-Pacific countries like China and India. The demand is further bolstered by the rising adoption of sustainable building practices and energy-efficient construction methods that require high-performance sealants for improved insulation and weatherization. Additionally, the renovation and rehabilitation of existing infrastructure in developed regions continue to create substantial demand for construction sealants.
Healthcare Segment in Sealants Market
The healthcare segment is emerging as the fastest-growing segment in the global sealants market, with a projected growth rate of approximately 4% during 2024-2029. This accelerated growth is primarily attributed to the increasing adoption of medical-grade sealants in surgical procedures, wound closure applications, and medical device assembly. The segment is witnessing significant technological advancements in biocompatible sealants that offer improved safety and efficacy in medical applications. The expansion of healthcare infrastructure globally, coupled with the rising demand for minimally invasive surgical procedures, is driving innovation in medical sealants. Furthermore, the growing emphasis on infection prevention and control in healthcare settings is creating new opportunities for antimicrobial sealants.
Remaining Segments in End User Industry
The automotive and other end-user industries segments continue to play vital roles in shaping the global sealants market. The automotive sector utilizes specialty sealants extensively in vehicle assembly, particularly in electric vehicle manufacturing where specialized sealants are required for battery components and electrical systems. The other end-user industries segment encompasses diverse applications including electronics, aerospace, marine, and general industrial applications. These sectors contribute to market growth through specialized applications such as electronic component sealing, aerospace structural bonding, and industrial equipment maintenance. The continuous evolution of manufacturing technologies and increasing focus on lightweight materials across these industries drives ongoing innovation in sealant formulations.
Segment Analysis: Resin
Silicone Segment in Sealants Market
Silicone sealants dominate the global sealants market, holding approximately 43% market share in 2024, owing to their exceptional elasticity and versatile applications across industries. These sealants demonstrate superior weather resistance and flexibility over a wide range of temperatures, making them particularly valuable in structural glazing applications for windows in wall facades. The segment is also experiencing the fastest growth trajectory, projected to grow at around 6% through 2029, driven by increasing demand from both interior and exterior applications. Silicone sealants' compatibility with diverse materials including glass, plastics, metals, repainted surfaces, and fiberglass has established them as the preferred choice in construction applications. Their high utilization in the automotive industry, particularly in windshield installations and glass substrate applications, further reinforces their market dominance. The segment's growth is additionally supported by increased funding, foreign investments, and policy support programs in key markets like China and India.
Remaining Segments in Resin Segmentation
The sealants market encompasses several other significant resin segments including polyurethane sealants, acrylic sealants, epoxy sealants, and other specialized resins. Polyurethane sealants have established themselves as crucial components in construction and automotive applications due to their strong adhesion properties and durability. Acrylic sealants are valued for their cost-effectiveness and ease of application, particularly in interior applications. Epoxy sealants, while representing a smaller market share, maintain their importance in specific industrial applications requiring high strength and chemical resistance. Other specialized resins, including polysulfide and butyl-based sealants, continue to serve niche applications where specific performance characteristics are required, such as in aerospace and marine applications.
Sealants Market Geography Segment Analysis
Sealants Market in Asia-Pacific
The Asia-Pacific region represents the dominant force in the global sealants market, driven primarily by robust growth in construction sealants activities and automotive manufacturing. Countries like China, India, Japan, and South Korea form the backbone of regional demand, with significant contributions from emerging economies like Indonesia, Malaysia, and Thailand. The region's market dynamics are shaped by increasing urbanization, infrastructure development, and the rapid expansion of industrial manufacturing capabilities across multiple sectors.
Sealants Market in China
China stands as the powerhouse of the Asia-Pacific sealants market, commanding approximately 25% of the regional market share in 2024. The country's dominance is underpinned by its massive construction industry, which is expected to maintain strong growth through the decade. China's automotive sector, particularly its electric vehicle segment, continues to drive substantial demand for specialized industrial sealants. The country's manufacturing capabilities, supported by over 100 sealant manufacturers, enable it to maintain its position as both a major producer and consumer of sealants in the global market.
Sealants Market in India
India emerges as the fastest-growing market in the Asia-Pacific region, with a projected CAGR of approximately 6% during 2024-2029. The country's rapid industrialization and urban development initiatives are creating unprecedented demand for sealants across various applications. India's automotive sector, particularly with new investments in electric vehicle manufacturing, is driving significant growth in sealant consumption. The construction industry's expansion, coupled with government infrastructure projects and increasing foreign direct investment, continues to boost market growth.
Sealants Market in Europe
Europe maintains its position as a crucial market for sealants, characterized by stringent regulations and high-quality standards. The region's market is driven by technological advancements in automotive manufacturing, sustainable construction practices, and innovative industrial applications. Countries like Germany, France, the UK, and Italy lead the market with their robust manufacturing bases and advanced construction sectors.
Sealants Market in Germany
Germany dominates the European sealants market, holding approximately 20% of the regional market share in 2024. The country's leadership is anchored in its strong automotive manufacturing sector, particularly in electric vehicle production, and its advanced construction industry. German manufacturers are at the forefront of developing innovative sealant solutions, especially for high-performance applications in automotive and aerospace sealants sectors.
Sealants Market in United Kingdom
The United Kingdom demonstrates remarkable growth potential in the European sealants market, with an expected CAGR of approximately 6% from 2024-2029. The country's market is driven by extensive infrastructure development projects and the growing adoption of sustainable construction practices. The UK's aerospace industry, being research-intensive and export-oriented, continues to create specialized demand for high-performance sealants.
Sealants Market in Middle East & Africa
The Middle East & Africa region presents a dynamic market for sealants, primarily driven by extensive construction activities and infrastructure development projects. Saudi Arabia leads the regional market, benefiting from massive construction projects and infrastructure developments, while also showing the fastest growth rate. South Africa contributes significantly to the regional demand, particularly through its automotive and construction sectors.
Sealants Market in North America
North America represents a mature yet innovative market for sealants, with significant demand from construction, automotive, and aerospace industries. The United States dominates the regional market, while Mexico shows the fastest growth potential. The region's focus on sustainable building practices and the increasing adoption of electric vehicles continues to drive market evolution.
Sealants Market in South America
The South American sealants market shows promising growth potential, with Brazil emerging as both the largest and fastest-growing market in the region. Argentina also maintains a significant presence in the regional market. The region's automotive manufacturing sector and increasing construction activities, particularly in Brazil, drive market growth. Additionally, the demand for marine sealants in coastal areas is contributing to the market expansion.
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Competitive Landscape
Top Companies in Sealants Market
The global sealants market features prominent players like Sika AG, Henkel AG & Co. KGaA, Soudal Holding NV, 3M, and RPM International Inc. leading the industry through continuous innovation and strategic initiatives. Companies are heavily investing in research and development to develop sustainable and eco-friendly sealant solutions, particularly focusing on low-VOC formulations and bio-based alternatives. Operational agility is demonstrated through the optimization of manufacturing processes and supply chain networks, with companies establishing regional production facilities to better serve local markets. Strategic moves predominantly involve acquisitions of local manufacturers to penetrate new markets and strengthen existing market positions, particularly in emerging economies. Geographic expansion remains a key focus, with companies establishing new manufacturing facilities and distribution networks, especially in high-growth regions like Asia-Pacific and emerging markets in Eastern Europe and Latin America.
Market Structure Shows Balanced Competition Dynamics
The sealant industry exhibits a fragmented structure with a mix of global conglomerates and specialized manufacturers competing across various application segments. Global chemical companies with diverse product portfolios leverage their extensive distribution networks and technical expertise to maintain strong market positions, while specialized manufacturers focus on niche applications and regional markets. The market demonstrates moderate consolidation, with the top five companies collectively holding a significant but not dominant share, allowing for healthy competition and innovation.
The industry is characterized by active merger and acquisition activities, particularly focused on technology acquisition and geographic expansion. Large companies are acquiring smaller, specialized manufacturers to expand their product portfolios and gain access to proprietary technologies and established customer relationships. Regional players are increasingly becoming attractive acquisition targets for global companies looking to strengthen their presence in specific markets or gain access to local distribution networks. This trend is particularly evident in emerging markets where local knowledge and established customer relationships are crucial for success.
Innovation and Sustainability Drive Future Success
For incumbent companies to maintain and expand their market share, focusing on technological innovation and sustainable product development is crucial. Market leaders are investing in advanced manufacturing technologies and digital solutions to improve operational efficiency and product quality. Building strong relationships with end-users through technical support and customized solutions remains vital, while developing environmentally friendly products aligned with increasingly stringent regulations is becoming a key differentiator. Companies are also strengthening their distribution networks and expanding their presence in high-growth application segments.
Contenders in the adhesive sealants industry can gain ground by focusing on specialized market segments and developing innovative solutions for specific applications. Building a strong regional presence before expanding globally, investing in research and development for sustainable solutions, and forming strategic partnerships with established players can help smaller companies compete effectively. The increasing focus on environmental regulations and sustainability requirements presents opportunities for companies to differentiate themselves through eco-friendly innovations. Success in the market increasingly depends on the ability to adapt to changing customer preferences, particularly regarding environmental sustainability and performance requirements, while maintaining cost competitiveness through efficient operations.
Sealants Industry Leaders
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3M
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Henkel AG & Co. KGaA
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RPM International Inc.
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Sika AG
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Soudal Holding N.V.
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- May 2022: ITW Performance Polymers announced a distribution partnership with PREMA SA in Poland for its Devcon brand.
- January 2022: H.B. Fuller announced the acquisition of UK-based Apollo Chemicals to expand its foothold in the European market.
- December 2021: Sika planned to establish a new technology center and manufacturing factory for high-quality adhesives and sealants in Pune, India. The company primarily manufactures products for the transportation and construction industries through its three new production lines.
Global Sealants Market Report Scope
Aerospace, Automotive, Building and Construction, Healthcare are covered as segments by End User Industry. Acrylic, Epoxy, Polyurethane, Silicone are covered as segments by Resin. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.
End User Industry
| Aerospace |
| Automotive |
| Building and Construction |
| Healthcare |
| Other End-user Industries |
Resin
| Acrylic |
| Epoxy |
| Polyurethane |
| Silicone |
| Other Resins |
Region
| Asia-Pacific | Australia |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Singapore | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific | |
| Europe | France |
| Germany | |
| Italy | |
| Russia | |
| Spain | |
| United Kingdom | |
| Rest of Europe | |
| Middle East & Africa | Saudi Arabia |
| South Africa | |
| Rest of Middle East & Africa | |
| North America | Canada |
| Mexico | |
| United States | |
| Rest of North America | |
| South America | Argentina |
| Brazil | |
| Rest of South America |
| End User Industry | Aerospace | |
| Automotive | ||
| Building and Construction | ||
| Healthcare | ||
| Other End-user Industries | ||
| Resin | Acrylic | |
| Epoxy | ||
| Polyurethane | ||
| Silicone | ||
| Other Resins | ||
| Region | Asia-Pacific | Australia |
| China | ||
| India | ||
| Indonesia | ||
| Japan | ||
| Malaysia | ||
| Singapore | ||
| South Korea | ||
| Thailand | ||
| Rest of Asia-Pacific | ||
| Europe | France | |
| Germany | ||
| Italy | ||
| Russia | ||
| Spain | ||
| United Kingdom | ||
| Rest of Europe | ||
| Middle East & Africa | Saudi Arabia | |
| South Africa | ||
| Rest of Middle East & Africa | ||
| North America | Canada | |
| Mexico | ||
| United States | ||
| Rest of North America | ||
| South America | Argentina | |
| Brazil | ||
| Rest of South America | ||
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Market Definition
- End-user Industry - Building & Construction, Automotive, Aerospace, Healthcare, and Others are the end-user industries considered under the sealants market.
- Product - All sealant products are considered in the market studied
- Resin - Under the scope of the study, resins like Polyurethane, Epoxy, Acrylic, Silicone, and Others are considered
- Technology - For the purpose of this study, One component and Two component sealant technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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