According to Stratistics MRC, the Global Adhesives & Sealants Market is accounted for $72.50 billion in 2022 and is expected to reach $93.34 billion by 2028 growing at a CAGR of 4.3% during the forecast period.
An adhesive is a chemical combination that joins two surfaces jointly to form a single unit, whereas a sealant is a partly solid material used to prevent liquid leakage. Even though they both are considered as a single industry, their presentation is different across end users. Instead, it fill up gaps and opposes relative movement of substrates.
The growing population and urbanization are boosting the residential construction segment in developing countries. There is a rising demand for everlasting houses in these countries, which, in turn, is growing the demand for adhesives & sealants. There are several applications of adhesives & sealants in the construction industry, such as carpet, tiling, wallpapers, and exterior insulation systems. Adhesives & sealants are used to grasp curtain wall panels and insulating glass units in place.
By geography, Asia Pacific region has emerged as one of the important producers plus consumers of adhesives & sealants due to the rising domestic demand, increasing income levels, and easy access to resources. The automotive & transportation industry is one of the main consumers of adhesives & sealants in this region. The economic growth in the Asia Pacific region, mainly in the emerging markets, is causative to the boost the numeral of infrastructure projects that is anticipated to boost the demand for adhesives & sealants in the building & construction sector. COVID-19 pandemic formed a sizable crash on the numerous industries such as textile & garments, construction, and automotive, in which export trade was mostly impacted.
Some of the key players profiled in the Market include Dow DuPont, Adhesive Technologies Corp., 3M, Franklin International, The Reynolds Co., Illinois Tool Works Inc., Sika AG , Mapei Spa, Henkel AG & Co. KGaA, Arkema Group (Bostik SA), Wacker Chemie AG, Pidilite Industries Ltd, H.B. Fuller Company, LORD Corp., American Chemical Inc., Dymax Corporation, Master Bond, Permabond Engineering Adhesives Ltd.
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By Technology:
- Solvent-borne
- Water-borne
- Hot-melts
- Reactive
- Other Technologies
By End User:
- Electronics
- Transportation
- Healthcare
- Building & Construction
- Footwear & leather
- Paper, Board, & Packaging
- Woodworking & Joinery
- Other End-users
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