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CHEMICALS AND ADVANCED MATERIALS

Adhesives and Sealants Market Analysis by Adhesive Technology (Solvent-Based, Water-Based, Radiation Cured, and Hot Melt); by Application (Paper & Packaging, Building & Construction, Woodworking, Automotive, Leather & Footwear, and Others); by Sealant Type (Silicone, Polyurethane, Emulsion, Polysulfide, and Others); and by End-User (Building & Construction, Automotive & Transportation, Healthcare, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Bostik Inc. at Assembly Show in Rosemont presented a range of innovative bonding solutions of adhesives and sealants based on polyamide hot melt technology and low-pressure molding adhesives. This will protect electronic parts from humidity, dust, and other debris.

  • BASF SE designed eco-friendly adhesive Acronal RC 3705 and Acronal RCF 3706 to prevent interference with the recycling process of paper and cardboard boxes. The adhesives achieved certification by Papiertechnische Stiftung.

Global Adhesives and Sealants Market Size, Forecast, and Trend Highlights Over 2023 – 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 65 Billion

Forecast Year Market Size (2033)

~ USD 90 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global adhesives and sealants market is estimated to garner a revenue of ~USD 90 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 65 Billion in the year 2022. Increasing demand for packaged food increases the demand for the adhesives and sealants market. Along with, the high demand for online food and a preference for food away from home and multi-cuisine tastes increase the market growth. As per the USDA Economic Research Service, the U.S. people’s food-away-from-home spending rose from USD 922.2 billion in 2020 to USD 1.17 trillion in 2021.

adhesive and sealant market overviewGet more information on this report:Download Sample PDF

The rising use of sealants in the construction and building sector in flooring, glazing, ceilings, and windows is estimated to hike the demand for silicone adhesive market size during the forecast period. For instance, the authorized new privately owned houses in 2021 in the U.S rose from 1,772 to 1,841 in 2022. Furthermore, massive surge in research and development activities, as well as rise in technical advancement are some more factors which are propelling the growth of the market over the forecast period.

Global Adhesives and Sealants Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Use of Leisure Products – Leisure products include sports equipment, mobile phones, gaming products, etc. Rising living standards and disposable income are expected to drive market growth, resulting in more growth opportunities. According to the U.S Bureau of Economic Analysis, in 2022, the U.S outdoor recreation economy comprises 1.8%, which is USD 374.3 billion in current-dollar gross domestic product for the nation.

  • Rising Disposable Income – As per the U.S Bureau of Economic Analysis, the disposable personal income of individuals rose from -0.4% in Jun 2022 to 0.1% in Aug 2022.

  • Rising Demand for Computers and Laptops – As per the National Center for Education Statistics, out of 121,520,200 households, about 111,603,400 households have computers.

  • Increasing Purchase of Electronics Devices – The global imported value of electrical machinery and equipment during 2021 was worth USD 3,594,456,634 rising from USD 2,909,455,427 in 2019.

  • Elevating Manufacturing Industries of Camera Lenses, and Connectors – Increasing use of cameras by filmmakers, video, and photographers and rising opportunities in the photography and film editing sector is estimated to rise the demand for camera lenses. For instance, around 9,400 openings are projected every year for camera operators, and film and video editors between 2021 to 2031.

Challenges

  • Release of Harmful and Hazardous Gases -  The usage of adhesive and sealants mostly emits various type of chemical gases, which are highly hazardous and put harmful effects on environment and on human health as well. The effects of such release of gases leads towards the health issues such as visual disorder, dizziness, irritation in eyes and nose, headache and so on. Hence this factor is estimated to hamper the growth of the market.

  • Rising Awareness of Health

  • Growing Restrictions by the Government

The global sealants market is segmented and analyzed for demand and supply by sealant type into silicone, polyurethane, emulsion, polysulfide, and others. Out of these, the silicone segment is anticipated to hold the largest market size by the end of 2033 on the back of increasing use in construction and buildings of the water resistance and structural stability of silicone sealants. For instance, the import value of prepared glues and other prepared adhesives, as per the estimations, was worth USD 15,677,255 in 2021 across the world. Additionally, increasing investment in infrastructure sector is another major factor which is fueling up the growth of the adhesives and sealants market size over the forecast timeframe.

Global Adhesives and Sealants Market Regional Synopsis

The Asia Pacific adhesives and sealants market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033 on the account of increasing digitalization and new high-tech initiatives in the region, along with the radically growing population and increasing expenditure in industrial division. For instance, China’s digital economy in 2018 reached over USD 4 trillion as per the estimations comprising nearly 35% of GDP.

Market Segmentation

Our in-depth analysis of the global adhesives and sealants market includes the following segments:

    By Adhesive Technology

  • Solvent-Based
  • Water-Based
  • Radiation Cured
  • Hot Melt

     By Application

  • Paper & Packaging
  • Building & Construction
  • Woodworking
  • Automotive
  • Leather & Footwear
  • Others

     By Sealant Type

  • Silicon
  • Polyurethane
  • Emulsion
  • Polysulfide
  • Others

 

     By End-User

  • Building & Construction
  • Automotive & Transportation
  • Healthcare
  • Others

Top Featured Companies Dominating the Global Adhesives and Sealants Market

  • 3M

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Bostik Inc.
  • Sika Corporation
  • H.B. Fuller Company
  • RS Components & Controls (I) Ltd.
  • BASF SE
  • The Dow Chemical Company
  • Wacker Chemie AG
  • General Electric Company
  • MAPEI S.p.A.

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