Overview of Adhensive Market
The global sealants and adhesives market generated approx USD 64.52 billion in 2022. Growing at a CAGR of 3.7% in the period 2023-2028, it is expected to generate a value of USD 80.24 billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.5% approx over the forecast period.
- The region’s developing packaging industry will most likely push the market significantly in the future years.
- However, rigorous restrictions governing the use of VOC-free components are projected to stymie industry expansion.
- The development of bio-based and hybrid adhesives is anticipated to be a profitable venture.
The Product Complexity Index ranks Glues 118th. (PCI)
Key Findings and Insights
The adhesives and sealants market is projected to touch a valuation of USD 87.9 billion by 2028 at a CAGR of 5.5% during the forecast period, 2022–2028.
- The growing popularity of wind power has led to an increase in the use of adhesive and sealant-safe materials for wind turbines.
- In recent years, China has emerged as a leader in the production-based adhesives and sealants market, accounting for more than 30% of global production.
- The Asia Pacific region is the largest consumer of adhesives and sealants and is expected to hold the largest share by 2030.
- The Asia Pacific adhesives and sealants market was valued at 22.59 billion in 2021 and the revenue is projected to surpass the valuation of USD 33.86 by 2030.
Demand for Glue Adhesives
The North American sealants and adhesives market is being driven by the growth of the application sectors like construction and transportation. The rising construction industry is also aiding the growth of other related application sectors like woodworking and joinery. The industry is also being driven by the rising packaging industry in the country. The robust online retail industry is a major driver for the growth of the packaging industry.
The rising consumption of convenient packaged foods like ready-to-eat food and ready-to-drink beverages due to the busier lifestyles of consumers will drive the sealants and adhesives industry in North America. Cosmetics is also a major application sector for the packaging industry. The US is a leading cosmetics market. The industry is expected to be propelled forward in the coming years due to the rising demand for premium products from the country’s growing high-income class.
Consumer and DIY are also major application sectors for sealants and adhesives that are witnessing robust growth. The rising demand for diapers, feminine hygiene products, and adult incontinence products in the region is aiding the North American sealants and adhesives market growth. DIY is emerging as a significant trend in the industry as consumers are becoming more interested in DIY projects, influenced by social media, which promotes them as a cost-efficient alternative.
The rising R & D undertakings by major manufacturers and the development of new technologies are expected to aid the North American sealants and adhesives market. Water-based and hot-melt types of adhesives are witnessing growth in the region due to a shift away from solvent-based adhesives in the developed economies, globally.
The worldwide adhesives market is divided into several segments :
1. By Type
- Water-based adhesives
- Solvent-based adhesives
- Hot-melt adhesives
- Reactive adhesives, and other adhesives
The common adhesive types available in the market are:
- Vinyl Acetate
- Acryl Emulsion
- Vinyl Acetate
- EVA (Ethylene Vinyl Acetate)
Adhesives find their uses in sectors like paper, board and related products, building, construction, civil engineering, craftsmen, woodworking and joinery, transportation, footwear and leather, consumer/DIY, and assembly operations, among others.
Sealants generally have a paste-like form, which allows them to flow into the structural gaps.
The common sealants types are:
They find their applications in industries like construction, consumer and DIY, transportation, and assembly, among others. The EMR report analyses the regional markets in North America like the US and Canada.
Water-based adhesives and sealants will continue to be the most popular product until 2025, accounting for about 1/3rd of total demand, due to their low cost, convenience of use, and minimal emissions, making them more ecologically friendly than solvent-based products.
2. By Product
Adhesives are created by combining resins, additives, and solvents.
The adhesives and sealants market in the United States is divided into four segments:
- Adhesive by resin (Silicone, Polyurethane, Acrylic, Epoxy, Cyanoacrylate, VAE/EVA, and other resin kinds).
- Adhesive by technology (Solvent-Borne Coatings, Reactive, Hot Melt, UV-Cured Adhesives)
- Sealant by resin (Polyurethane, Epoxy, Acrylic, Silicone, Other Resins)
- End-user industry (Building and construction, paper, board, and packaging, transportation, woodworking and joinery, footwear and leather, healthcare, electrical and electronics, and other end-user sectors)
Market sizing and forecasting for each segment have been done on the basis of volume (kiloton) and revenue (USD million).
3. By Application
Sealants prevent structural damage by protecting the structure from breaches of water, dust, dirt, insects, chemicals, and others, by sealing the gaps between the substrates and the joints. Adhesives, on the other hand, are used to join two surfaces. They are generally liquid in form and solidify upon application on the surfaces.
Some of their major application included;
- Transportation & Automotives
4. By Region
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.)
- The Middle East and Africa (North Africa and GCC Countries)
Adhesives and sealants are used in every country, with demand varying greatly according to the country’s economic size and degree of development. The need for formulated adhesives and sealants rises in tandem with the production of packaging materials and durable goods, as well as with increases in construction activity and the use of more modern building materials.
Local purchases of consumer goods made using adhesives and sealants, as well as sales of glues, pastes, and other products used in home repairs, do-it-yourself (DIY) projects, and crafts, are all influenced by per capita income levels.
A lot of factors influence the adhesive and sealant product mix in a specific location or country, including:
- Size and performance of the local adhesive and sealant industries (such as packaging, transportation equipment, and footwear)
- Application of Environmental Rules
- Availability and cost of specific adhesive and sealant solutions
Growing Adoption of Water-borne Adhesives
- Water-borne is the majorly consumed adhesive technology across the country due to its favorable properties for multiple applications or end-user industries.
- Water-borne adhesives are often designed as dispersions or emulsions. The distributed polymer (latex) particles have a spherical form with a diameter of 50 – 300 nm. Since the concentration of the developing chains within each latex particle is shallow, high molecular weights are typically attained in emulsion polymerization.
- These adhesives are commonly used in the woodworking and footwear industries for bonding wood, paper, textiles, leather, and other porous substrates.
- Acrylic waterborne adhesives are the major resin type due to their cheaper cost and favorable environmental properties. They are also easier to use with multiple substrates and have moderate strength and resistance to temperature and other environmental factors.
- Waterborne adhesives are more environmentally friendly, have negligible VOC content that does not hamper the safety of workers at manufacturing sites, and is less expensive than other types of technologies.
- Thus, these factors are expected to boost demand for waterborne adhesives over the coming years.
United States Adhesives and Sealants Market Leaders
The United States adhesives and sealants market is consolidated in nature. The major companies include 3M, Arkema Group, Sika AG, HB Fuller Company, and Henkel AG & Co. KGaA, among others (in no particular order).
- In April 2021, Sika AG signed an agreement to acquire The Yokohama Rubber Co. Ltd’s adhesives division, Hematite, based in Japan. Hematite offers polyurethanes, hot melts, and modified silicones technology adhesives and sealants for the automotive and construction industries.
- In Feb 2022, Arkema Group completed the acquisition of Ashland’s Performance Adhesives business. Ashland is a world leader in high-performance adhesives in the United States.
The figure above shows the green bar below how the Adhesive and Sealant Market is fragmented and highly competitive without dominant players globally. And above shows, red shows how the market is consolidated by 1-5 major players.