Adhesives & Sealants Market by Adhesive Technology (Water-based, Solvent-based, Hot-Melt, Reactive & Others), Sealant Resin (Silicone, Polyurethane, Plastisol, Emulsion, Butyl, Polysulfide), Application, and Region - Global Forecasts to 2023
“The adhesives & sealants market is projected to grow at a CAGR of 4.93% between 2018 and 2023, in terms of value.”
The adhesives & sealants market is projected to grow from USD 56.59 billion in 2018 to USD 71.99 billion by 2023, at a CAGR of 4.93% between 2018 and 2023. The rising demand for adhesives and sealants across various applications, such as paper & packaging, building & construction, woodworking, consumer/DIY, automotive & transportation, leather & footwear, assembly, and others, is expected to drive the growth of the adhesives & sealants market. The environmental regulations in North American and European countries regarding the production of chemical- and petro-based products are restraining the growth of the adhesives & sealants market.
“Based on application, the paper & packaging segment is expected to lead the adhesives & sealants market during the forecast period.”
The paper & packaging application accounts for the largest share in the adhesives & sealants market and is expected to remain the largest market segment between 2018 and 2023.
The growth of this segment is expected to be driven by increased use of adhesives in a wide variety of paper bonding applications. These applications range from corrugated box construction and the lamination of printed sheets to packaging material used for all types of consumer products and the production of large industrial tubes and cores used by manufacturers of roll goods and other materials.
“The Asia Pacific region is expected to lead the adhesives & sealants market during the forecast period.”
The Asia Pacific region is projected to lead the adhesives & sealants market from 2018 to 2023, in terms of value. Asia Pacific has emerged as one of the leading producers as well as consumers of adhesives & sealants due to the increasing domestic demand, rising income levels, and easy access to resources. According to OICA, Asia Pacific led the vehicle production market in 2017. Automotive & transportation industry is one of the major applications of adhesives & sealants in this region. The economic growth in the APAC region, particularly in emerging markets such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is contributing to the increase in the number of infrastructure projects, which is expected to drive the demand for adhesives & sealants in the building & construction application.
Breakup of Primary Interviews:
By Company Type: Tier 1 – 30%, Tier 2 – 42%, and Tier 3 – 28%
By Designation: C-Level Executives – 32%, Directors – 38%, and Others – 30%
By Region: Asia Pacific – 55%, North America – 17%, Europe – 15%, South America – 9%, and Middle East & Africa – 4%
Henkel (Germany), Sika (Switzerland), Arkema (France), H.B. Fuller (US), Huntsman (US), 3M (US), and Illinois Tool Works (ITW) (US) are the key players operating in the adhesives & sealants market.
This report provides detailed segmentation of the adhesives & sealants market on the basis of adhesive formulating technology, sealant resin, application, and region. Based on adhesive formulating technology, the adhesives & sealants market has been segmented into water-based, solvent-based, hot-melt, and reactive & others. Based on application, the adhesives & sealants market has been segmented into paper & packaging, building & construction, woodworking, consumer/DIY, automotive & transportation, leather & footwear, assembly, and others. Based on sealant resin, the adhesives & sealants market has been segmented into silicone, polyurethane, plastisol, emulsion, polysulfide, butyl, and others. Based on application, the adhesives & sealants market has been segmented into building & construction, automotive & transportation, consumer, and others. Based on region, the adhesives & sealants market has been segmented into Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Reasons to Buy the Report
From an insight perspective, this research report has focused on various levels of analyses-industry analysis (industry trends), key players in the adhesives & sealants market, and company profiles. These insights together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the adhesives & sealants market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on adhesives & sealants offered by top players in the adhesives & sealants market
Product Development/Innovations: Detailed insights on upcoming technologies, research & development activities, and new product launches in the adhesives & sealants market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for adhesives & sealants across various regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the adhesives & sealants market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the adhesives & sealants market