The global adhesives and sealants market size is expected to reach USD 85.4 billion by 2028 according to a new study by Polaris Market Research. The report “Adhesives and Sealants Market Share, Size, Trends, Industry Analysis Report, By Product Type (Acrylic, Silicone, Polyurethane, Polyvinyl Acetate); By Adhesion Technology; By End-Use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Adhesives and sealants are increasingly being used in the automotive, construction, and healthcare industries. Rising industrialization, increasing urbanization, and growing penetration of automobiles boost the growth of the market.
Growing disposable income, changing lifestyles, and increasing investment in the construction industry have supported the industry growth. However, the COVID-19 outbreak has impacted the industry owing to operational challenges, transportation delays, travel restrictions, disruption of the supply chain, and workforce impairment.
The different product types include acrylic, silicone, polyurethane, polyvinyl acetate, and others. Polyurethane adhesives and sealants are cured under a wide temperature range and offer superior adhesion properties, high strength, and greater environmental and chemical resistance.
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The products are used in diverse industries such as automotive, construction, packaging, healthcare, electrical and electronics, consumer, and others. The construction segment accounted for the highest share in 2020. However, the demand is expected to increase from the automotive sector during the forecast period.
The Asia Pacific dominated the global industry in 2020 and is expected to maintain its dominance over the forecast period. Increasing applications in construction, paper and packaging, and woodworking increase the demand for adhesives and sealants in the Asia Pacific.
Some major industry participants include Arkema S.A., Artimelt AG, Avery Dennison Corporation, H.B. Fuller Company, 3M Company, Ashland Global Specialty Chemicals Inc., AdCo (UK) Ltd, Henkel AG, Beardow Adams, Huntsman Corporation, Dow Inc., Sika AG, Illinois Tool Works Inc., Wacker Chemie AG, and Hexcel Corporation, among others.
Industry players are collaborating for research and development, strengthening industry presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged market participants to leverage new technologies to develop high-quality products.
Polaris Market Research has segmented the adhesives and sealants market report on the basis of product, adhesion technology, end-use, and region:
Adhesives and Sealants, Product Outlook (Revenue, USD Billion, 2016 – 2028)
- Polyvinyl Acetate
Adhesives and Sealants, Adhesion Technology Outlook (Revenue, USD Billion, 2016 – 2028)
- Hot Melt
Adhesives and Sealants, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Electrical and Electronics
- Consumer Goods
Adhesives and Sealants, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa