SAN FRANCISCO, Feb. 15, 2022 /PRNewswire/ -- The global adhesives and sealants market size is expected to reach USD 95.41 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. Rising investments in construction and infrastructure are projected to play a key role in the expansion of the market.
Key Insights & Findings from the report:
- Adhesives accounted for the largest revenue share of over 85.0% in 2020. The market is projected to grow on account of the rising construction spending around the world owing to the growing demand in applications such as flooring, carpet laying, countertop lamination, and drywall lamination.
- In terms of volume, Asia Pacific was the largest regional market in 2020 and is anticipated to maintain its lead over the forecast period. The growth of the regional market is primarily attributed to the expansion of the industrial sectors in countries such as China, India, South Korea, Indonesia, and Singapore.
- The paper and packaging application segment accounted for a revenue share of over 25.0% in 2020 in the adhesives market. Rising demand for flexible packaging for the end-use industries, such as food and beverage and consumer, is projected to benefit the expansion of the segment.
- In the adhesives market, the water-based technology segment is projected to expand on account of the excellent joining quality, fast set speed, and a reduction in the usage of solvent-based technology formulations. This segment is likely to expand at a lucrative CAGR of 6.6% from 2021 to 2028, in terms of revenue.
Read 200-page market research report, "Adhesives And Sealants Market Size, Share & Trends Analysis Report By Technology, By Product, By Application, By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2021 - 2028", published by Grand View Research.
Adhesives & Sealants Market Growth & Trends
The positive outlook of infrastructure projects across Asia, the U.S., the Middle East, and Eastern Europe is likely to fuel the demand for adhesives and sealants over the coming years. With environmental regulations forcing industry participants to adopt eco-friendly products, water-based and non-solvent products are projected to gain greater prominence in the market in the near future.
Increasing infrastructure spending across the residential and commercial sectors worldwide is propelling the installation of different types of flooring such as resilient and wooden, which, in turn, is fueling the consumption of adhesives and sealants. The rising need for residential space on account of the increasing population as well as rising standard of living is leading toward the growth of the global industry.
The adoption of adhesive products is substituting the usage of mechanical fasteners in the industries such as automotive, aerospace, and packaging. The use of such products instead of conventional equipment offers a reduction in the final weight of the product, which has become a key focus area in the automotive and aerospace industries over the last half a decade. Most formulators in the packaging industry also rely on adhesives rather than heavy bolting techniques to minimize their freight charges.
The major demand arises across multiple application scopes as buyers from diverse fields demand high-quality, sustainable, and eco-friendly products. The demand is high for adhesives and sealants, which have lower levels of Volatile Organic Compounds (VOCs), give out fewer emissions, and provide aesthetic bonding solutions across numerous substrates, simultaneously meeting the international and regional government regulations. Water-based products are considered environment-friendly since they contain zero VOCs. They also provide good long-term high temperature and moisture resistance.
Adhesives & Sealants Market Segmentation
Grand View Research has segmented the global adhesives market on the basis of technology, product, application, and region; and segmented the global sealants market on the basis of product, application, and region:
Adhesives Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Water Based
- Solvent Based
- Hot Melt
- Reactive & Others
Adhesives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Acrylic
- PVA
- Polyurethanes
- Styrenic Block
- Epoxy
- EVA
- Others
Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Paper & Packaging
- Consumer & DIY
- Building & Construction
- Furniture & Woodworking
- Footwear & Leather
- Automotive & Transportation
- Medical
- Others
Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- GCC
Sealants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Silicones
- Polyurethanes
- Acrylic
- Polyvinyl Acetate
- Others
Sealants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Construction
- Automotive
- Packaging
- Assembly
- Consumers
- Others
Sealants Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- GCC
List of Key Players of Adhesives & Sealants Market
- 3M Company
- Ashland Inc.
- Avery Denison Corporation
- H B Fuller
- Henkel AG
- Sika AG
- Pidilite Industries
- Huntsman
- Wacker Chemie AG
- RPM International Inc.
Check out more related studies published by Grand View Research:
- Hot Melt Adhesives Market - The global hot melt adhesives market size is expected to reach USD 10.71 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.8% from 2021 to 2028. Increasing demand for hot melt adhesives in packaging applications, including cardboard and corrugated boards, is anticipated to propel market growth over the coming years.
- Acrylic Adhesives Market - The global acrylic adhesives market size is expected to reach USD 9.65 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.3% during the forecast period. Increasing demand for high-quality premium adhesives from the construction and other end-use industries is projected to drive the market.
- Hybrid Adhesives & Sealants Market - The global hybrid adhesives and sealants market size is expected to reach USD 22.50 billion by 2025 according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.3% over the forecast period. Growing popularity of hybrid resins has led to its usage in adhesives and sealants. Increasing infrastructural developments and demand for lightweight vehicles are anticipated to augment the market during the forecast period.
Browse through Grand View Research's coverage of the Plastics, Polymers & Resins Industry
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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