Adhesives and Sealants Market Size By Application (Construction, Pressure Sensitive, Furniture, Packaging, Automotive), By Technology (Solvent, Water-based, Reactive, Hot Melt), By Product (Polyurethane [PU], Acrylic, Epoxy, EVA, Polyvinyl Acetate [PVA]), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023

Published Date: Mar 2016  |  Report ID: GMI372  |  Authors: Kunal Ahuja, Sonal Singh

Report Format: PDF   |   Pages: 210   |   Base Year: 2015

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Adhesives and Sealants Market size was over USD 25 billion and 6.4 billion in 2015 respectively is slated to grow above 5.5%.

Europe adhesives market size, by product, 2012-2023 (USD Million)
Europe adhesives market size, by product, 2012-2023 (USD Million)

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Increasing application scope in packaging, construction and automobile industries should drive adhesives and sealants market size. Technological development with extensive application of these products, should positively influence the industry growth.

Construction and automobile industries are major consumers of adhesives and sealants with majority of the demand witnessed from BRICS economies. In 2013, the construction spending in China and India was about USD 1.6 trillion and USD 425 billion respectively.  

Adhesives are applied in panels, partition and insulation whereas sealants are used in facades and fire protection applications. Strong trend towards growth in infrastructure spending due to increased population and rapid industrialization, should favor the growth of adhesives & sealants market size..

Positive outlook towards growth in vehicle sales with strong implementation of regulations to reduce automotive weight, should boost adhesives & sealants market size. They are used in panel laminating application in vehicle industry. In 2015, automotive production was over 90 million units and is estimated to surpass 110 million by 2022. Passenger car on an average use approximately of 15 to 18 kg of sealing products and glues used for replacing mechanical fasteners. Technology innovation has resulted to decrease spot welding process up to 50% which helps in reducing automobile weight.

Major raw materials used for manufacturing adhesives & sealants are derived from synthetic fibers, crude oil and resins. Stringent government norms to reduce carbon emission during production process may hinder product demand. This has resulted, the industry participants to invest in research to develop bio-based alternatives. Soybean polyols and vegetable oils are used as raw materials in production of biobased products.

Biobased adhesives market holds for about 2% overall demand and expects significant growth rate. Major industry players in biobased production includes, BASF, ADCO, Henkel, Dow, Evonik, Croda, Cargill and Dupont.

Adhesives and Sealants Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 6.4 Billion (USD)
Historical Data for: 2012 to 2015 Forecast Period: 2016 to 2023
Forecast Period 2016 to 2023 CAGR: 5.5% 2023 Value Projection: 50 Billion (USD)
Pages: 210 Tables, Charts & Figures: 226
Geographies covered: North America, Europe, Asia Pacific, China, India, Japan, Middle East & Africa (MEA)
Segments covered: Application, Technology, Product Polyurethane and Region
Companies covered (14): 3M Company, H.B. Fuller Company, Dow Chemical Company, Avery Dennison Corporation, BASF AG, Bostik SA, ND Industries Inc., Uniseal Inc, Ashland Inc., Beardow & Adams Adhesives Inc., Eastman Chemical Company, Momentive Specialty Chemicals Inc., Sika AG
Growth Drivers:
  • Strong automotive production indicators
  • Rise in infrastructure spending
Pitfalls & Challenges:
  • Volatile raw material price trend
  • Complex environmental norm complaince

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Adhesives and Sealants Market, By Technology

Waterborne adhesives market size should register above USD 13.5 billion by 2023. Increasing environmental issues due to exposure to oncogenic fillings during manufacturing process should favour waterborne technology as it releases low VoC emissions and decreases functional costs.

Hot melt adhesives market size would foresee gains at above 5% by 2023. It prohibits VoC emissions and displays exceptional adhesion characteristics when compared to solvent based technology.  

Adhesives and Sealants Market, By Product

Acrylic adhesives market size should witness growth at above USD 8.5 billion by 2023. The product has quick setting time along and excellent bonding characteristics. These materials are used in the production of UV light and waterborne curing technology.

PVA adhesives market size was over 2.5 million tons in 2015. It is made by polymerization of vinyl acetate monomer and is used as adhesives for porous materials including paper, wood, cloth and as a consolidant for permeable building stone. EVA adhesives market size holds a small portion of the share and expects consumption to surpass 700 kilo tons by 2023. Epoxy adhesives market size should grow significantly at over 4.5% by 2023.

Silicone sealants market size was over USD 2 billion in 2015. Growing industrialization in BRICS countries should drive the product market growth. Key performance metrics include chemical & corrosion resistance and has elongation and water repelling properties. PU (Polyurethane) sealants market size should witness at above USD 2.5 billion by 2023 and would grow at average rates.

Adhesives and Sealants Market, By Application

Adhesives market size from pressure sensitive applications should register over USD 9.5 billion by 2023. These are mainly used in heat treatment and are mainly used in automobile and labels applications. Adhesives market size from packaging application should witness gains at above 5% by 2023. These are mostly used in flexible packaging, envelopes and disposables.

Sealants market size from construction application should generate over USD 2 billion by 2023. Rise in construction expenditure especially in India and China would drive product demand.

Sealants market size from automotive applications was over USD 1.75 billion in 2015. Growth in automotive sales along with rise in per-capita spending capacity particularly in China and India should drive product demand.

Adhesives and Sealants Market, By Region

China adhesives market size, was over USD 5 billion in 2015. Favorable regulation promoting growth along with FDI schemes to promote end-use industries growth should drive regional product demand. Asia Pacific formed a major share in global pressure sensitive adhesive market in 2015.

North America, dominated by U.S. adhesives market size, should surpass USD 8.5 billion by 2023. Growth in construction spending along with growth in automobiles sales in the region should boost product demand.

Europe sealants market size should exceed 700 kilo tons by 2023. Presence of major automotive industries in Germany and France should drive regional industry growth. China sealants market size should surpass USD 2 billion by 2023. Silicones and PU were the major products used for numerous applications.

Competitive Market Share

Global adhesives and sealants market share is moderately fragmented as top four companies constitute over 40% of the overall share. Some companies operating in this industry are Dow Chemical, 3M, HB Fuller, Henkel, Sika AG, BASF, Ashland, Uniseal, Bayer, N.D. Industries, Eastman Chemical, Bostik, Avery Dennison, Acucote, Creative Materials and Franklin International. Some companies are present across the value chain which benefit better production output.

Adhesives and sealants market value chain has foreseen a lot of mergers and acquisitions over the past few years. For instance, in April 2015, Henkel acquired Novamelt, a German based company to strengthen its position in sealants, adhesives and functional coatings market. H.B. Fuller acquired industrial adhesives business unit of Wisdom Worldwide Adhesives, an American company to focus on the product line of the company.

Adhesives and Sealants Industry Background

Adhesives and sealants are versatile products, which are used in most industrial sectors from non-rigid bonding in flexible packaging and textile to structural applications, where it is designed to offer high bonding strength. Sealants are thick, non-pourable materials and vary from adhesives in their primary role of filling gaps between surfaces in order to prevent passage of water, air and chemicals. In sealants industry, a larger proportion of manufacturers have backward integration, mainly in case of Dow Corning and Momentive in silicone sealants and polymers

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