Global Adhesives & Sealants Capacity, Production, Demand-Supply, Value Range and Market Forecast Analysis, 2032

Market Overview:

The adhesives & Sealants market is estimated to be over 60 Billion USD with the Industrial & Construction sector accounting for a major share. Adhesives account for 90% of the global market while sealants make up the balance. The industrial adhesives and sealant market is estimated over 34 Billion USD while the construction sector accounts for over 22 Billion USD.

According to Prismane Consulting Herfindahl-Hirschman index (HHI) calculations, the Adhesives & Sealants market is highly fragmented. The top 100 global manufacturers of synthetic specialty adhesives and sealants have significant sales volume. Amongst these 100 players, the top 5 players account for a whooping share of more than 30% or almost one-third of the total market. All other players other than the top 100 account for a marginal share. 

Major players in the adhesives and sealant industry are Henkel, Sika, Bostik, H.B. Fuller, 3M, DowDuPont, and Royal. Henkel markets its adhesives and sealants with the brand name LOCTITE and has a variety of adhesives and sealants in its portfolio. Henkel accounts for more than 20% of the global adhesives and sealants market. In terms of product development and sales, companies are investing in R&D, brand building, and consumer relations to support their competitive position.

Polymer dispersion adhesives account for the largest market share in global adhesives consumption owing to their pricing and versatility. There has been a decline in solvent-based adhesives in developed economies due to regulations on Volatile Organic Compounds (VOCs) emissions. Polyurethane and silicone-based sealants together account for more than 50 percent of total sealant demand.

The global adhesives and sealants market is estimated to witness an average growth of 4 to 5% during the forecast period 2023-2032. Geographically, Asia Pacific is the largest market followed by North America and Western Europe. Western Europe, Central & Eastern Europe, and Middle East Africa together account for slightly more than 35%. A growing middle class along with an increase in disposable income and improved standard of living in Asia-Pacific has generated a strong demand for adhesives and sealants.

Growth in Asian countries has significantly outpaced North America and Western Europe and this trend is estimated to continue shortly. Asia-Pacific is the biggest market at the global level in 2023 accounting for almost 40% of the global demand on account of increased adhesive use in athletic footwear and shoe manufacturing market and shift of the footwear manufacturing from North America and Europe to Asia-Pacific regions like China, India, Vietnam, South Korea, and other South East Asian Countries. 

The demand for all types of adhesives and sealants in Western Europe has been relatively weaker due to more challenging economic conditions. In another major restructuring event; the United Kingdom has opted for a hard exit from the European Union, opening speculations and debates on new trade policies in the European Union. The UK is on course to leave the union in March 2025. The U.K. is now renegotiating its future trade relations and planning for a two-year "transition" period to smooth the way to post-Brexit relations. The ongoing recovery in the North American building & construction sector is likely to push the demand for adhesives and sealants in the mid-term forecast.

New formulations amongst others include OBCs added to hot melt adhesive (HMA) along with other polyolefin elastomers. OBCs are used for compatibilization of polypropylene blends. OBCs can be used in pressure-sensitive adhesives (PSA). OBC-based adhesives are used in baby diapers and other hygiene products. They are also used as packaging adhesives. The demand for OBCs in adhesive applications is likely to grow at a CAGR of around 9.5% in the long-term forecast.

Adhesives & Sealants can be produced from resins and mineral fillers. They are gaining importance in various sectors such as industrial, automotive, medical, woodworking, electrical & electronics, sporting goods, and many more niche areas. Adhesives & Sealants offsets traditional joining techniques such as welding, reverting, and others due to their price favourability and sustainability. It is suited well in high-volume production or assembling products with large volume areas. The selection of proper adhesive depends on various factors like substrates to be joined, application restrictions, and user requirements. Adhesives & Sealants can be classified depending on origin (natural & synthetic), resins used, technology, and application. The demand for raw materials used in adhesives, such as propylene, ethylene, and vinyl acetate monomer (VAM), has been moving significantly higher in recent years.

Major types of adhesives included in the Global Adhesives & Sealants - 2023 World Analysis are pressure-sensitive adhesives, water-based adhesives, solvent-based adhesives, silicone based solvent, hot melt adhesives, laminating adhesives, electronic adhesives, polyamide hotmelt adhesives, tile adhesives, spray adhesives, surgical sealants & adhesives, automotive adhesives, cyanoacrylate adhesives, reactive adhesives, epoxy adhesives, structural adhesives and uv curing adhesives. The sealants included as a part of the study include polyacrylate sealants, silicone sealants, urethane sealants, thread sealants, gaskets and flange sealants, elastomeric sealants and anaerobic sealants. Major manufacturers and their detailed adhesives and sealants product portfolio have been discussed in the report.

This report has been prepared focusing on Electronic Adhesives and covers the worldwide view of Electronic Adhesives, along with a historical perspective, forecast, and strategic recommendations.