Adhesives and Sealants Market is expected to reach US$ 77,598.29 million by 2030

PRESS RELEASE BY The Insight Partners 15 Sep 2023

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Strong Growth of Construction and Automotive Industries Drives Global Adhesives and Sealants Market

Adhesives and sealants are materials used for attaching two surfaces and filling in gaps between the substrates, respectively. Various sealant products are designed for different applications, including structural glazing or bonding facade elements. Key properties of sealant are consistency, durability, hardness, exposure resistance, adhesion, and staining. Polymer-based adhesives are used for high-strength bonding and permanent elasticity. They require moisture to set. Hence, these materials are used for projects where other glues are often unsuitable.

The adhesives and sealants market size was valued at US$ 55,986.03 million in 2022 and is expected to reach US$ 77,598.29 million by 2030; it is estimated to register a CAGR of 4.2% from 2022 to 2030.

The construction industry in various countries across the world is growing due to continuing industrialization and urbanization, increasing population, growing income of a middle-class population, and increasing infrastructural developments and investments in the construction industry. Asia Pacific marks presence of many economies such as China and India, with the largest construction market. The construction industry in India is growing due to rising government focus on infrastructure projects and growing residential and commercial construction activities. Also, the construction industry in Mexico is growing due to economic growth and public investments in infrastructure projects. During 2019–2020, the country’s President and private sector representatives announced multiple projects as a part of the nation’s infrastructure plan. Mexico is also moving rapidly toward green and environmentally-friendly construction activities. The construction industry in the country has embraced the green building movement. In the construction industry, adhesives and sealants are used to bond and seal concrete, steel, and tiles to make durable structures. Hence, the strong growth of the construction industry in various countries propels the adhesives and sealants market growth.

Adhesives and Sealants Market

Adhesives and Sealants Market Size Report | Global & Analysis 2030

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Adhesives and Sealants Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Resin Type [Adhesives (Epoxy, Polyurethane, Acrylic, and Others), and Sealants (Silicone Sealant, Urethane Sealant, Acrylic Sealant, Polysulfide Sealant, and Others)], by End-Use Industry (Automotive, Aerospace, Paper and Packaging, Building and Construction, Electrical and Electronics, Medical, and Others)

As per Organisation Internationale des Constructeurs d'Automobiles (OICA), American countries recorded the production of ~16.2 million commercial and passenger cars in 2010 and recorded growth in production rate by more than 23%, reaching ~20 million commercial and passenger cars in 2019. The automotive industry in China has grown in the past few years, thus contributing a significant share of the global automotive market. Further, many automotive companies have invested in the automobile manufacturing sector to increase production & sales, and research & development. Hence, the strong growth of the automotive industry in various countries across the world bolsters the demand for adhesives and sealants.

Henkel AG and Co KGaA, HB Fuller Company, Sika AG, 3M Co, Huntsman International LLC, Dow Inc, Wacker Chemie AG, Parker Hannifin Corp, Dymax Corporation, and Astro Chemical Company Inc are among the key players in the global adhesives and sealants market.

Impact of COVID-19 Pandemic on Global Adhesives and Sealants Market Growth

During the COVID-19 pandemic, disruptions in chemicals & materials manufacturing operations significantly impacted global supply chains and hindered product manufacturing activities, delivery schedules, and sales. Various chemicals & materials companies reported delays in product deliveries and a slump in product sales in 2020. Moreover, restrictions on international travel imposed by governments of various countries in Europe and Asia Pacific compelled manufacturers and suppliers to temporarily discontinue their business strategies such as partnerships. All these factors hampered many sectors during the pandemic and restrained the growth of the chemicals & materials industry.

In 2021, businesses regained their production capacities as the governments of many countries eased out the previously imposed restrictions. Moreover, an increase in COVID-19 vaccination drives improved the situation, impeding business activities worldwide. Further, manufacturers could overcome the demand and supply gap by operating at total capacity. Moreover, the trade volumes in the chemicals & materials industry are projected to increase significantly in the next few years due to the relaxation of border and trade restrictions. Thus, the revival of operations in the manufacturing units positively impacted the adhesives and sealants market.

The "Global Adhesives and Sealants Market Analysis to 2030" is a specialized and in-depth study of the chemicals & materials industry, focusing on the global adhesives and sealants market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The global adhesives and sealants market is segmented on the basis of resin type and end-use industry. Based on resin type, the adhesives and sealants market is bifurcated into adhesives (epoxy, polyurethane, acrylic, and others) and sealants (silicone sealant, urethane sealant, acrylic sealant, polysulfide sealant, and others). Based on end-use industry, the market is segmented into automotive, aerospace, paper and packaging, building and construction, electrical and electronics, medical, and others. In 2022, based on the end-use industry, the building and construction segment dominated the global adhesives and sealants market, whereas the paper and packaging segment is expected to be the fastest-growing segment in the market. Adhesives and sealants for infrastructure provide substrates with various mechanical properties, including water impermeability, chemical resistance, and superior adhesion and can guarantee speedy cure to improve process efficiency. Adhesives and sealants ensure durability on roads, airports, and other areas.

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