Adhesives & Sealants Market Revenue Will Hit at USD 92.89 BN By 2032

Published Date : 13 Apr 2023

The global adhesives and sealants market size was exhibited at USD 57.30 billion in 2022 and it will grow at a CAGR of 5% in the upcoming years, and expected to touch USD 92.89 billion by 2032.

The adhesives and sealants market growth are driven by the growing construction industry, increasing demand from the automotive industry, and growing demand due to its properties.

Market Overview:

Compounds known as adhesives are used to permanently and firmly connect at least two surfaces. Adhesives and sealants are flexible goods that are frequently used in industrial sectors ranging from malleable packing and fabric to structural uses because of their excellent bonding properties. Both adhesives and sealants are made using similar processes and materials and have a variety of applications. Sealants are semi-solid substances that are mainly used to stop fluid leaks.

Adhesives and Sealants Market Report Scope:

Report Coverage Details
Market Size in 2022 USD 57.30 Billion
Projected Forecast Value in 2032 USD 92.89 Billion
Growth Rate 5% from 2023 to 2032
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
By Adhesives Product
  • PVA
  • Epoxy
  • Acrylic
  • Styrenic block
  • Polyurethanes
  • EVA
  • Others
By Adhesives Technology
  • Solvent based
  • Water based
  • Hot melt
  • Reactive & Other
By Adhesives Application
  • Packaging
  • Pressure Sensitive Applications
  • Furniture
  • Construction
  • Footwear
  • Automotive
  • Others
By Sealants Product
  • Polyurethane [PU]
  • Silicone
  • Acrylic
  • Polyvinyl Acetate [PVA]
  • Others
By Sealants Application
  • Automotive
  • Construction
  • Assembly
  • Packaging
  • Consumers
  • Pressure Sensitive Tapes
  • Others
Regions Covered North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

Report Highlights:

  • By technology, As of September 2021, water-based technology had a significant presence in the adhesives market, comprising more than 50% of the market share. As a diluting medium or carrier in this technology, water is either allowed to evaporate or absorbed by the substrate before setting. Additionally, they lower emissions of volatile organic compounds (VOCs), and stricter government regulations are anticipated to spur the segment's growth in the years to come. On the other hand, the hot melt technology is predicted to experience the highest revenue growth during the study period due to its superior qualities. They quickly bond things together and are therefore used in highly automated production procedures like converting, assembly, bookbinding, packing, and footwear.  

Regional Insights:

Asia Pacific is expected to dominate the market during the forecast period. The market growth in the region is owing to the growing demand for adhesives and sealants from various end-use industries including construction, packaging, automotive and others. In the construction industry, adhesives are used in a wide range of applications such as ceramic tiles, flooring, joint cement, laminations and others. In the automotive sector, these are used in auto, truck and bus assemblies, gasket bonding and others. In the packaging sector, it is used for labels, cups, speciality packaging and others. Thus, with growing these industries the demand for adhesives and sealants is expected to rise over the projected period.

For instance, according to the International Trade Administration, the world's biggest market for vehicles is China, which will remain so as measured by both yearly sales and manufacturing output. By 2025, domestic production is predicted to hit 35 million vehicles. Moreover, Chinese automakers produced 26,082,220 cars in 2021, up 3% from the previous year, according to the OICA. The Pradhan Mantri Awas Yojna plan has sanctioned 122.69 lakh homes, grounded 103.01 lakh homes, and finished 62.21 lakh homes as of 22 August 2022.  

Europe is expected to hold a significant market share over the forecast period. The growth in the region is attributable to the presence of prominent players in the automotive sector such as BMW, Audi AG, Daimler AG and others. Moreover, the rapid adoption of electric vehicles positively influences market expansion. According to the European Environment Agency (EEA), electric trucks and cars saw a significant increase in usage in Europe in 2020. In this region, there were recorded nearly 1,325,000 electronic vehicles in 2019, up from 550,000 the year before. In just one-year, new car purchases increased from 3.5% to 11%. Electric vehicle registrations also rose, from 1.4% in 2019 to 2.2% in 2020. Thus, with growing automotive industry in the region is expected to flourish the growth of the industry.

Market Dynamics:


Growing demand from the construction industry

The growing demand for adhesives and sealants from the construction industry is expected to drive the growth of the market over the forecast period. The increasing population and growing urbanization in the countries like China, India, and Vietnam. There is a growing demand for permanent housing, in turn, driving the demand for adhesives and sealants. 

The Population Division of the UN Department of Economic and Social Affairs (UN DESA) published the 2018 Revision of World Urbanization Prospects, which states that future rises in the size of the world's urban population are anticipated to be heavily concentrated in a small number of nations. India, China, and Nigeria will together be responsible for 35% of the expected increase in the global metropolitan population between 2018 and 2050. India is expected to have 416 million more metropolitan residents by 2050, followed by China with 255 million and Nigeria with 189 million. Thus, with growing urbanization, there will need for housing, which is expected to flourish the demand for the adhesives and sealants market.


Stringent regulations

Depending on the quantity and type of VOCs generated, VOCs have the potential to destroy habitats and have devastating effects on the environment, including acid rain, global warming, and several serious health issues. Therefore, international organizations, federal, state, and municipal governments, as well as non-governmental organizations (NGOs), are increasingly enforcing environmental laws and standards. CARB (California Air Resources Board) rules and LEED (Leadership in Energy and Environmental Design) accreditation standards are at the head of regulating problems regarding adhesives. Both organizations put restrictions on VOCs and the formaldehyde that adhesive creates. Thus, this is expected to hamper the market growth.


Growing automotive industry

The growing automotive sector is expected to provide a lucrative opportunity for market growth during the forecast period. The adhesives and sealants are used in automotive applications such as sealing of core plugs, gasket placing and bonding of automotive hoses. Thus, with growing automobile production the demand for these products will significantly rise. For instance, according to the Society of Indian Automobile Manufacturers, the two-wheeler sector will have the largest sales number in 2021–2022 with 13,466,412. 


Safety and environment

Since adhesives are toxic substances, it is important to limit human contact with them while they are being applied. Asthma, skin allergies, and irritation of the eyes, nostrils, mouth, and skin are the primary side effects of overexposure. Thus, these are expected to act as a major challenge for the growth of the market during the forecast period.

Recent Developments: 

  • In February 2020, Henkel inaugurated its new manufacturing facility in Kurkumbh, India, with a total investment of around USD 57 million.
  • In November 2022, Sabre Adhesives introduced a diverse collection of high-quality industrial adhesives. These adhesives include Polyurethanes Adhesives, MS Polymer Adhesives, Epoxy Adhesives and Others.
  • In January 2021, Huntsman Corporation acquired Gabriel Performance Products. The acquisition strengthens the company's offering in its specialty portfolio which includes CVC Thermoset.
  • In March 2022, Bostik, a global adhesives leader in the construction, consumer and industrial market collaborated with DGE for the distribution of adhesives and sealants in EMEA.

Major Key Players:

  • B. Fuller Company
  • 3M Company
  • Avery Dennison Corporation
  • Dow Chemical Company
  • Bostik SA
  • Uniseal Inc
  • ND Industries Inc.
  • Beardow & Adams Adhesives Inc.
  • Ashland Inc.
  • Momentive Specialty Chemicals Inc.
  • Eastman Chemical Company
  • Sika AG

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