Global Adhesives And Sealants Market Trends, Growth, & Share-2031

(MENAFN- Straits Research) Introduction

Adhesives are substances that permanently and firmly bond at least two surfaces together. Sealants fill the space between at least two surfaces to form a barrier or protective coating. Both adhesives and sealants are manufactured using similar processes and substances and have numerous applications. Sealants are semi-solid substances primarily used to prevent fluid leakage. They provide a barrier or protective coating by bridging the spaces between substrates to seal joints and components. Several industries utilize adhesives and sealants, including electronics, aerospace, automotive, food and beverage, and transportation.

Market Dynamics

Surging Demand from Building and Construction Industry Drives the Global Market

The increase in demand for adhesives and sealants is due to the expansion of the construction and packaging industries. Adhesives and sealants are frequently used to install carpets, wallpaper, insulation systems, curtain wall panels, and glass insulation. Additionally, they are utilized for countertop lamination, ceramic tiles, underlayment, drywall lamination, manufactured housings, prefinished panels, resilient flooring, roofing, and wall coverings. In addition, rapid population growth and urbanization in developing nations like China, India, Brazil, Indonesia, Mexico, and Bangladesh have substantially increased the demand for adhesives and sealants. Between 2020 and 2030, an estimated 43 million new homes will be constructed annually worldwide. In 2019, global construction expenditures increased from USD 9.5 trillion in 2014 to USD 12 trillion, demonstrating steady and robust growth. The unprecedented growth of the construction and building industry is expected to drive the global adhesives and sealants market.

Rising Demand in the Asia-Pacific Countries Creates Tremendous Opportunities

The rising income of the middle class, the escalating frequency of construction projects, and the soaring demand from the automotive and packaging industries will propel market expansion in these nations. Several players in the automotive industry also substitute welding with adhesives and sealants to reduce manufacturing costs and vehicle weight. In addition, adhesives and sealants enable the automotive industry to improve fuel economy. Similarly, the paper and packaging industry is a significant market for adhesives and sealants. In many construction activities, conventional fastening and joining solutions are also replaced by adhesives and sealants. Utilizing adhesives and sealants in construction provides long-lasting adhesion and reduces complexity and labor demand. Thus, the increasing use of adhesive sealants by various end-user industries in the Asia-Pacific region is anticipated to create lucrative growth opportunities for the market.

Regional Analysis

Asia-Pacific is the most significant global adhesives and sealants market shareholder and is expected to grow at a CAGR of 5.64% during the forecast period. Asia-Pacific has emerged as the world's largest market for adhesives and sealants. This expansion can be attributed to a growing population, rapid urbanization, and increased demand from various industries, including construction, electronics, packaging, medical, and healthcare. Further, the leading market in Asia-Pacific is China, followed by India. The robust expansion of industries such as construction, packaging, automotive, and healthcare in these nations has propelled the growth of the regional adhesives and sealants market. In addition, factors such as rural-to-urban migration and the demand for affordable housing drive construction in China, thereby contributing to the expansion of the regional market.

Europe is anticipated to exhibit a CAGR of 5.47% over the forecast period. In Europe, the major end-use industries for adhesives and sealants are construction, paper and packaging, industrial assembly, and transportation, with half of the products used in industrial applications. The increasing prevalence of e-commerce applications has resulted in robust demand in the paper and board packaging end-use market. According to FEICA, COVID-19 had a mixed impact on the industry, fostering the growth of the paper and packaging, healthcare, and medical technology industries while having a negative effect on the building and construction and automotive and transportation industries. Even though the COVID-19 outbreak negatively impacted the building and construction industry in 2020, the increasing demand for eco-friendly materials due to the emphasis on sustainable development will propel market growth.

Key Highlights

• The global adhesives and sealants market was valued at USD 68,371.03 million in 2022. It is estimated to reach USD 110,604.74 million by 2031, growing at a CAGR of 5.49% during the forecast period (2023–2031).
• Based on type, the global adhesives and sealants market is divided into adhesives and sealants.
  The adhesives segment accounts for the largest market share and is anticipated to grow at a CAGR of 5.69% over the forecast period.
• Based on adhesives by technology, the global and adhesives sealants market is divided into water-based, solvent-based, hot melt, reactive, pressure sensitive, and other.
  The water-based segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 6.77% over the forecast period.
• Based on sealants by structure, the global adhesives and sealants market is bifurcated into silicone, PU, acrylic, polysulfide, butyl, plastisol, and others.
  The silicone segment owns the highest market share and is predicted to grow at a CAGR of 4.41% over the forecast period.
• Based on end-user, the global adhesives and sealants market is divided into building and construction, paper and packaging, transportation, woodwork and joinery, consumer/DIY, footwear and leather, and others.
  The paper and packaging segment is the largest contributor to the market and is anticipated to exhibit a CAGR of 6.29% over the forecast period.
• Asia-Pacific is the most significant global adhesives and sealants market shareholder and is expected to grow at a CAGR of 5.64% during the forecast period.