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Adhesive and Sealant Market Trends, 2016-2024

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The worldwide adhesive and sealant market is estimated close to USD 52 billion by 2024.
Hexa Research
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Adhesive and Sealant Market Share, Size, Analysis, Growth,
Trends and Forecasts to 2024 | Hexa Research
The global adhesive and sealant market is estimated to reach nearly USD 52 billion by
2024 (2016 to 2024 - forecast period). Adhesives are substances which permanently join
two surfaces or materials. Sealants, on the other hand, are used to bind the gaps between
two materials. They prevent liquid-seepage through openings.
The market had a demand of 11.7 million tons (in terms of volumes) in 2015. Growth of
automotives, packaging, and construction industries is anticipated to fuel these volumes
till 2024. Infrastructural developments and need for reducing vehicular-weights are the
primary market drivers. Strict regulations encouraging bio-based products can challenge
market growth.
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Bio-based adhesives are gaining prominence due to their low manufacturing costs and eco friendliness. The adhesive and sealant industry is divided on the basis of technologies,
products, applications, and regions. Solvent-based, water-based, reactive & others, and
hot melt are the technologies.
Water-based led with over 40% shares in 2015. It exceeded USD 8 billion that year. This
segment is predicted to dominate over the next eight years. The same can be credited to
its ability to lower VoC (volatile organic content) emissions.
Adhesive products include acrylic, polyvinyl acetate (PVA), polyurethanes, styrenic block,
epoxy, ethylene-vinyl acetate (EVA), and others. Sealant products encompass
polyurethanes, silicones, acrylic, PVA, and others. Acrylic adhes ives generated almost USD
5 billion in 2015. They are used to develop UV light curing and waterborne & heat resistant
technologies.
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EVA adhesives accounted for over 400 kilotons (KT) in 2015. They should regain their
shares in the near future. Silicone sealants reportedly surpassed USD 2 billion in 2015.
They will grow further due to expanding automotives and construction industries.
Pressure sensitive, automotives, footwear, furniture, construction, medical, packaging, and
others constitute the adhesive applications. Pressure sensitive tapes, assemblies,
packaging, automotives, construction, and others are the sealant applications.
Pressure sensitive adhesive applications were valued over USD 6 billion in 2015. They are
expected to generate over 4 KT by 2024, at 4.8% CAGR. Packaging accounted for over 20%
demand in 2015. Automotive sealants generated more than 18% demand the same year.
They can exhibit 5.4% CAGR till 2024.
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Automotive adhesives would grow at about 5% CAGR from 2016 to 2024. Their key
applications comprise carpeting, sealing doors & windows, and bonding decorative trims,
side moldings, & vinyl roofs.
North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and Middle East &
Africa (MEA) are geographies in the adhesive and sealant market. APAC reigned over the
global market in 2015, earning above USD 11 billion. Increased budgets for development
projects in India, China, & Indonesia may boost regional demand.
North America captured over 20% shares with respect to demand in 2015. It is expected to
witness slow growth in the forecast period. The demand for silicone sealants in Europe
exceeded 150 KT in 2015. It will expand significantly. LATAM is led by Brazil and followed
by Argentina & Mexico.
Major players operating in the worldwide adhesive and sealant market include the 3M
Company, The Dow Chemical Company, Henkel AG & Co. KGaA, and H. B. Fuller. Together,
they hold more than 45% of the industry.
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