Global Adhesives and Sealants Market size worth above $64.7 billion and $15 billion by 2027
Published Date: February 19, 2021 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights, Inc., the Adhesives and Sealants Market size is set to surpass USD 64.7 Billion and USD 15 Billion by 2027.
Adhesives are chemical substances used for bonding application of two substrates. The characteristics offered by adhesives are good tensile strength, high bonding, sheer strength which are well-suited for industrial applications including packaging, automotive and construction industry. The rising demand for high quality and durable products should boost the growth of adhesives market.
Sealants are chemical substances which prevents surface leakages. The properties of sealant including compressibility, elongation, modulus of elasticity and resistance to tear and fatigue enhances its application for filling gaps. These properties of sealant are best suited for its application in industries including pressure sensitive tapes, consumer durable and automotive.
Growing demand for solvent based adhesives in automobile manufacturing should augment market growth
Global solvent based adhesive market witnessed a consumption of over 1805 tons in 2020, which is likely to exhibit significant gains up to 2027. The product offers light weight to automobiles owing to its wide application in production of automobile parts including mechanical fasteners and gaskets to reduce automobile weight. The demand for production of light weight automobile is rising which should accelerate the adhesives market growth.
Strict rules and regulations associated with automobile manufacturing can restrain the market growth. The solvent based adhesives are highly inflammable and toxic in exposure to high temperatures. Companies are investing huge amount to limit the toxicity and improve technological developments for solvent based adhesive which represents substantial growth opportunities for market growth.
“As per industry forecast, Solvent based adhesives market share should register over 1.4% gains by 2027, pertaining to rising demand from end-users including transportation and automotive”
Browse key industry insights spread across 370 pages with 374 market data tables and 50 figures & charts from the report, “Global Adhesives Market By Technology (Water Based, Solvent Based, Hot Melt, Reactive & Other), By Product (Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy And EVA), By Application (Pressure Sensitive Applications, Packaging, Construction, Furniture, Footwear And Automotive), Sealants Market Size By Product (Silicone, Polyurethane [PU], Acrylic, Epoxy, EVA, Polyvinyl Acetate [PVA]), By Application (Construction, Automotive, Packaging, Assembly, Pressure Sensitive Tapes, Consumers) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rising construction industry has raised the demand for acrylic which should boost the demand for adhesives and sealants market
Acrylic sealant market demand from construction industry should exceed CAGR of 5.5% up to 2027. Acrylics have high rigidity, scratch resistance, optical clarity and dimensional stability owing to its ability to withstand adverse environmental conditions. These properties of acrylic sealant are well suited for its application in construction industry. Upcoming infrastructure projects along with growing population should stimulate the adhesives and sealants market growth.
Acrylic adhesives are easy to form and cut and do not deteriorate in sunlight pertaining to its application in coating of metals, paint additive, flooring and carpets. Shift from traditional design to modularization along with changing technology and planning in construction industry should trigger the adhesives and sealants market share.
“As per industry forecasts, acrylic sealants from construction applications should register gains at over 7% by 2027, pertaining to increasing population and rapid urbanization"
Rising demand for pressure sensitive tapes from paint industry should drive adhesives and sealants demand in Europe
Europe pressure sensitive tape sealant business is predicted to achieve substantial growth in the predicted period. Coating and painting materials including thinners, plasters, printing inks and dyes is rapidly increasing in the region. The paint application offers benefits of resistance against rust on metals in vehicle parts. The pressure sensitive tapes are widely used for surface covering during paint applications in vehicles. This application of the pressure sensitive tapes shows opportunities for the adhesives and sealants market growth.
Germany, France, Italy, Spain and UK should stimulate the demand for adhesives and sealants owing to growing packaging industry in the region. Technological innovations, attractive economy and sustainability should stimulate the growth of the regional adhesives and sealants market. The convenience of easy delivery systems has led to the growth of packaging industry thereby boosting the adhesives and sealants market.
“As per market estimates, Pressure sensitive tape business in Europe should register over 5% gains by 2027, pertaining to growing logistics industry and changing consumer preference for convenient delivery system”
The global adhesives and sealant industry share is highly fragmented and comprises various companies including HB Fuller, Sika, Huntsman Corporation, DowDuPont, Avery Dennison Corporation, Arkema, 3M Company, RPM International Inc., PPG Industries, Lord Corporation. Companies are majorly focusing on strategic agreements such as acquisitions, mergers and partnerships to expand their production volume, and widen their geographic distribution network.