The global adhesives and sealants market size is expected to reach USD 82.4
billion by 2025, according to a new report by Grand View Research, Inc. It is
anticipated to expand at a CAGR of 5.6% during the forecast period. High demand
for adhesives and sealants from construction, packaging, assembly, and
automotive sectors coupled with their rapidly expanding application scope are
the significant factors stimulating the growth.
The market has witnessed a significant rise
in R&D spending with companies focusing on developing bio-based
alternatives due to stern environmental policies. Soybean-derived polyols,
vegetable oil-based polyamides, epoxies, and polyisoprenes are the major
bio-based adhesives and sealants. However, their cost of production is higher
than conventional adhesives, which poses a limitation on their adoption rates.
Water-based adhesives segment captured the
highest market share in 2017 owing to environment-friendly product formulation.
In addition, the zero emissions of Volatile Organic Compounds (VOCs) by these
products is a prominent factor that is expected to propel demand in near
future.
Fast paced lifestyle along with the growing
middle class population is driving growth of the packaging sector in Asia
Pacific. This is expected to boost the adhesives and sealants market as a large
volume of adhesive consumption goes into packaging applications, such as carton
boxes, envelopes, carton closures, cups, flexible packaging, specialty
packaging, bags, and disposables.
Sealants find huge applications in
construction industry owing to their quick seal abilities and longer endurance
on substrates. Waterproofing sealants are majorly used for exterior applications,
such as terrace, balcony and other building components. Tilting and several
other sealants are particularly used in interior applications and owing to
these vivid application scopes, these sealants have high penetration capacity
across growing economies with huge building project funds and government aid.
Asia Pacific is expected to be the fastest
growing region during the forecast period. Surge in automotive sector is
expected to have a positive influence on regional market growth. Automotive companies
are merging their businesses with the adhesives and sealants formulating giants
to cut down their cost of procurement and to enhance their supply chain
efficiency, and to reducing the operational time per unit production. Apart
from the automotive sector, there is a significant demand for adhesives and
sealants from plywood applications in the furniture industry, which further
fuels market growth.
The market for adhesives and sealants has
witnessed significant mergers and acquisitions in the recent past. The
principal objective behind this strategy was to acquire a significant share in
regional markets and reduce distribution costs. For instance, in March 2017,
Avery Dennison Corporation announced the acquisition of Hanita Coatings, an
Israeli manufacturer of pressure-sensitive materials like specialty films and
laminates.
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Further key findings from the report suggest:
· In terms of revenue, water based adhesives
is predicted to witness the fastest CAGR of 6.5% over the forecast period, on
account of environment friendliness and extensive utilization of the product in
paper laminations, labeling, tapes, and bag manufacturing among other
applications
· Silicone led the sealants market in 2017
terms of volume share owing to superior resistance to weathering and aging of
the product
· Acrylic segment held the dominant market
share of 35.7% in terms of volume in 2017, owing to its superior properties,
such as high strength, environmental resistance, immediate tack, and capacity
to bond on various substrates
· In terms of revenue, the automotive
application of sealants is predicted to witness the fastest CAGR of 6.8%,
during the forecast period owing to rising automotive sales in Asia Pacific
· Asia Pacific captured the highest market
share of 42.7% in terms of revenue in 2017 owing to the significant growth of
end-use industries like construction, automotive, and packaging
· The global adhesives and sealants market is
highly fragmented in nature with over 65% share occupied by medium and small
enterprises.
Grand View Research has segmented the
global adhesives and sealants market on the basis of technology, application,
product, and region:
Adhesives Technology Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Water based
·
Solvent based
·
Hot melt
·
Reactive & other
Adhesives Product Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Acrylic
·
PVA
·
Polyurethanes
·
Styrenic block
·
Epoxy
·
EVA
·
Other
Adhesives Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Pressure sensitive applications
·
Packaging
·
Construction
·
Furniture
·
Footwear
·
Automotive
·
Other
Sealants Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Silicones
·
Polyurethanes
·
Acrylic
·
Polyvinyl acetate
·
Other
Sealants Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Construction
·
Automotive
·
Packaging
·
Assembly
·
Pressure sensitive tapes
·
Consumers
·
Other
Adhesives Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Sealants Regional Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
