Author: Himanshu Patni
21 February 2022
Global Adhesives & Sealants Market was was valued around USD 61 billion in 2020 and is projected to grow at a CAGR of ~5% over the forecast period (2021-2027). Over the decades rise in construction activities has been observed which is mainly due to rising disposal income of population and countries focuses on infrastructural development like increase in spending on roads, railways and urban infrastructure. Adhesives and sealants like acrylic and epoxy are widely used in construction industry. Further, it is expected that construction investments logged significant growth rate during the forecast period. Further, researchers are constantly looking for new kinds of adhesives and new ways to use them. For example, engineers at European Airbus, one of the world’s largest manufacturers of airplanes, has found that plastic like adhesives can be used to hold airplane sections together. The adhesives are cheaper and easier to use than traditional welds and rivets.
Furthermore, adhesives and sealants market would be driven by increasing demand from paper & packaging industry, rising demand for wooden furniture, automotive & transportation industry, leather & footwears, electronics, and others. For instance, production of automobiles increased to 91.8 million in 2019 compared to 89.7 million in 2014. However, in 2020 production decreased to 77.6 million due to manufacturing shutdown in order to curtail the spread of COVID-19.
The COVID-19 pandemic severely impacted several markets across the globe, particularly in India, the U.S., Spain, and other Western European nations. The pandemic also had a significant impact on the market of adhesives & sealants, majorly attributable to the shutdown of manufacturing facilities in compliance with government regulations, to reduce the spread of disease. The shutdown of factories and warehouses caused additional losses to adhesives & sealants manufacturing companies as the previously manufactured and stocked adhesives & sealants could not be sold due to temporary trade bans and reduced demand.
For a detailed analysis of the Covid-19 Impact on the Market browse through – https://univdatos.com/report/adhesives-sealants-market/
Based on type, market is bifurcated into adhesives & sealants. Further, adhesives is divided into water-based, solvent-based, hot-melt, and reactive & others and sealants into silicone, polyurethane, plastisol, emulsion, polysulfide, butyl, and others. Among all, water–based adhesives held considerable market share. These kind of adhesives are developed using a combination of polymers, and additives. They are ideal for porous or non-porous substrates.
Based on application, adhesives market is further divided into paper & packaging, building & construction, woodworking, consumer & DIY, automotive & transportation, leather & footwear, assembly, medical, electronics, and others and sealants market into building & construction, automotive & transportation, consumer, and others. Among all, paper & packaging and automotive & transportation held prominent market share owing to growing logistics and e-commerce industry and adhesives are used for joining seats, spoilers, tailgates, side skirts, bumpers, headlights, dashboards, and etc. in automotive & transportation. However, woodworking is expected to grow at significant rate owing to population opting for wooden furniture with changing trends.
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Additionally, the report provides detailed initiatives that are being taken in the field of adhesives & sealants market. The market is classified into distinct regions including North America, Europe, Asia Pacific, and the Rest of World. Asia Pacific is likely to witness highest growth owing to the increased demand from the food and beverage industry with rising population in the region.
Global Adhesives & Sealants Market Segmentation
Market Insight, by Type
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
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