Global Sealants and Adhesives Market Key Insights:
- Sealants Types: Silicones, Acrylic, Butyls, Polysulphides, polyurethanes
- Adhesive Types: Reactive, Solvent-based, Water-based, Hot Melt
- Market Performance & Price Trends 2018
- Market Analysis & Outlook 2019-2024
- Demand by Application & Region
- Capacity Addition & Plant Turnarounds
Global Sealants and Adhesives Market Outlook
The global sealants and adhesives market stood at about USD 58 billion in 2018. Growing at a CAGR of 3.7% in the period 2019-2024, it is expected to reach a value of USD 72 billion by 2024. The market is driven by surged demand in the Asia Pacific region where the rising middle-class population has led to an increase in the demand for adhesives and sealants in sectors like infrastructure and construction.
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Sealants and Adhesives: Properties and Applications
Sealants are used to seal the gaps between substrates and joints to prevent environmental elements like water, dust or dirt from entering the structure. Adhesives are used to join together two surfaces by adhesion. Adhesives have higher strength than sealants while sealants have higher flexibility and lower shrinkage ability as compared to adhesives. Sealants are paste like in consistency which allows them to fill the gaps between surfaces and are usually made with an elastomer giving them improved flexibility and elongation properties. Adhesives, on the other hand, usually come in a liquid form, which solidifies upon application, and have superior durability and rigidity as compared to sealants.
Adhesives can be segmented into:
- Reactive Systems
- Solvent Based
- Vinyl Acetate
- PVA (Polyvinyl Acetate)
- Water Based
- Acryl Emulsion
- Vinyl Acetate
- Hot Melt
- EVA (Ethylene Vinyl Acetate)
Sealants can be categorised as:
Sealants and adhesives find extensive application across various industries that are essential in our daily lives, like:
- Paper, board and related products
- Building, construction, civil engineering, craftsmen
- Woodworking and joinery
- Footwear and leather
- Assembly operations
The global sealants and adhesives market is driven by a growing infrastructure industry along with rising demand in the automobile sector. With rising environmental concerns, the automotive industry is looking to manufacture lightweight vehicles with increased fuel efficiency. This, in turn, is aiding the growth of the sealants and adhesives market as the industry is using more adhesives and sealant products in the welding of engine parts. Increasing environmental regulations globally are leading to new technological innovations and R&D investments by major players in the industry, which are proving beneficial for the adhesives and sealants market growth.
The rising industrialisation along with a growing middle class in emerging economies are aiding the sealants and adhesives market. Packaging and assembly along with construction sectors are the major application sectors in these economies. Asia Pacific, especially China, is a leading market for sealants and adhesives. The growing North America construction industry has aided the market growth over the years. In Europe, construction, transportation, and industrial assembly sectors were the leading application segments for sealants and adhesives in 2017.
The report analyses the following key players in the global sealants and adhesives market, looking into their market share, capacity, and latest developments like mergers and expansions, plant turnarounds, and capacity expansions:
- Henkel AG & Co. KGaA
- Sika AG
- Bostik SA
- Saint-Gobain S.A
- H.B. Fuller Company
- Evonik C
- DowDuPont Inc.
- 3M Chemical Limited
- Wacker Chemie AG
EMR’s comprehensive market report on global sealants and adhesives market gives an in-depth insight into the market and provides a SWOT analysis of the market as well as an analysis of Porter’s five forces.