December 9, 2023

Adhesives and Sealants Market Analysis: Sustainable Growth and Emerging Trends 2030

The global adhesives and sealants market continues to witness robust growth, with annual consumption exceeding 19 million tons across industries ranging from construction, automotive, and transportation to packaging, furniture, footwear, and electronics. In 2018, the paper and packaging industry alone accounted for 25% of this consumption. The flourishing packaged food sector, coupled with rising environmental concerns and sustainability initiatives, is driving the demand for adhesives and sealants, which are increasingly integrated into packaging materials.

Cosmetics and Personal Care Products Industry Driving Market Expansion

Consumer goods, cosmetics, and personal care product manufacturers are playing a pivotal role in accelerating the growth of the adhesives and sealants market. With social media influencers setting new trends and a tech-savvy Millennial and Generation-Z population driving online sales, the demand for cosmetics and beauty products continues to soar. Consequently, the market for adhesives and sealants used in packaging applications is experiencing steady growth, directly influenced by the expansion of the beauty and cosmetics industry.

Construction Projects and Automotive Industry Dynamics Fuel Growth

The rebound of construction projects and evolving trends in the automotive industry are also contributing significantly to the adhesives and sealants market. In the construction sector, adhesives and sealants are widely used in various applications, including concrete, tiles, flooring, HVAC, drywall lamination, and roofing. This surge in construction activity, particularly in Western Europe, the US, and across the Asian subcontinent, is further propelling market advances. In Asia Pacific, remarkable growth in the residential and housing sector is a major factor driving the market’s promising outlook.

In the automotive and transportation industry, adhesives and sealants are playing a pivotal role in achieving lightweight and fuel-efficient vehicles. These materials are emerging as ideal substitutes for traditional fasteners like screws, bolts, and rivets, contributing to weight reduction and noise, vibration, and harshness (NVH) reduction in vehicles.

Asia Pacific Leads Global Consumption

Asia Pacific emerged as the leading consumer of adhesives and sealants in 2020, accounting for over 45% of global demand. China’s focus on environmental protection, innovation, and industrialization, coupled with significant construction spending, is set to spur further demand growth in the region. While Western Europe and the US remain mature markets for adhesive and sealant manufacturers, growth opportunities are on the horizon in Russia, Turkey, and Eastern European countries.

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Innovative Technologies and Versatility Driving Market Evolution

Water-based adhesives currently dominate the market, representing over 50% of global demand. Hot melt adhesives (HMA) are projected to witness growth, particularly in packaging and construction applications, due to their ease of use. In the tapes and labels segment, HMA is overtaking solvent-borne adhesives as it eliminates the need for drying or curing processes. Additionally, reactive adhesives based on epoxies and urethanes are expected to be the fastest-growing technologies in the coming years, driven by their versatility and suitability for applications in aerospace and automotive industries using lightweight materials.

Regulatory Compliance and Sustainability

Regulatory authorities are closely monitoring adhesives and sealant formulations, especially in North America and Europe, where stringent building codes are in place for energy-efficient buildings. As environmental and health awareness among consumers grows, industry regulations are becoming more stringent. Manufacturers must ensure compliance with relevant registration authorities, such as LEED and the US Green Building Council, which emphasize Environmental Product Declarations (EPDs) to enhance transparency in building materials. Rising raw material costs have also prompted manufacturers to explore alternatives like renewable materials, while maintaining performance and properties remains a key challenge.

Innovation and Research & Development Key to Competitive Edge

In this thriving market, the top 10 companies, including industry giants like 3M, Henkel, Bostik, H.B. Fuller, Sika, and Dow, accounted for just over 50% of total revenue in 2018. These companies are focusing on cost-effective product development and building brand recognition and consumer bases. For instance, Henkel’s investment of over US$150 million in a technology innovation center in Düsseldorf, Germany, aligns with its commitment to offering innovative and sustainable solutions to meet the growing demand for adhesives and sealants.

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The global adhesives and sealants market is poised for further expansion, driven by sustainability efforts, innovation, and evolving industry dynamics. Industry players are investing in research and development to stay competitive and meet the demands of an ever-evolving market.

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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This press release first seen on Brilad