Adhesives and Sealants Market Size & Forecast

Adhesives and Sealants Market Growth Drivers

Growing Adoption of Adhesives & Sealants in the Building & Construction Industry

The building and construction industry is a major contributor to the global economy. In the first quarter of 2023, there were over 919,000 construction establishments in the U.S. alone, employing 8 million individuals and generating nearly USD 2.1 trillion worth of structures annually. This sector has seen a growing adoption of adhesives and sealants, which are crucial for modern construction practices.

Adhesives are used to bond structural components such as panels, facades, and laminates, providing high-strength bonds that distribute loads evenly and enhance the structural integrity of buildings. This eliminates the need for traditional mechanical fasteners like nails or screws, resulting in cleaner aesthetics and reduced material costs. Additionally, adhesives are essential for installing flooring materials such as tiles, wood, laminate, and vinyl, creating strong bonds that ensure stability and durability.

Sealants are used to fill joints and seams in tiled surfaces, preventing water penetration and grout deterioration. Their application in construction not only enhances the performance and longevity of structures but also contributes to improved efficiency and sustainability.

Increasing Demand for Adhesives in the Healthcare Industry

In the healthcare sector, adhesives and sealants are indispensable for assembling various medical devices, including catheters, syringes, IV sets, and diagnostic equipment. They provide strong and reliable bonds between different components, ensuring the integrity and functionality of medical devices.

Moreover, adhesives and sealants are increasingly used in surgical procedures for wound closure, tissue bonding, and hemostasis. In restorative and prosthetic dentistry, adhesives play a critical role in bonding dental materials such as composites, crowns, bridges, and veneers to tooth structures. Dental sealants are also used to protect teeth from decay by sealing pits and fissures, reducing the risk of cavities and promoting oral health.

The rising demand for adhesives and sealants in the healthcare industry underscores their critical role in medical device manufacturing, wound care, drug delivery, surgical procedures, and patient care. As healthcare technologies continue to advance, these materials will remain essential for supporting innovation, improving treatment outcomes, and enhancing patient quality of life.

Market Opportunities

Increasing Demand for Adhesives & Sealants in the Packaging Industry

The packaging industry has seen a growing demand for eco-friendly materials and processes to reduce environmental impact. Adhesives and sealants are crucial in creating sustainable packaging solutions by enabling the use of recyclable materials, reducing packaging waste, and improving energy efficiency in production processes.

Adhesives and sealants used in food packaging must comply with stringent safety and regulatory standards to ensure product integrity and consumer protection. They provide secure seals, tamper-evident features, and barrier properties that protect packaged food products from contamination, spoilage, and tampering, extending shelf life and ensuring food safety.

The growth of e-commerce has also led to increased demand for robust and protective packaging solutions. Adhesives and sealants provide secure seals, reinforcement for corrugated boxes, and tamper-resistant features that protect products during transit and delivery, ensuring a positive customer experience. The increasing demand in the packaging industry reflects the critical role of adhesives and sealants in enabling sustainable, innovative, and efficient packaging solutions that meet the evolving needs of consumers, brands, and regulatory requirements.

Adhesives and Sealants Market Analysis: Key Findings

By Product: Adhesives Segment to Dominate

In 2024, the adhesives segment is expected to dominate the adhesives and sealants market, accounting for a larger share of 80.0%. The segment's substantial share is attributed to the growing adoption of adhesives in the paper and packaging industry, the rising demand for adhesives in the healthcare sector, and the increasing use of adhesives in manufacturing tapes and labels for general-purpose repair and heavy-duty carton sealing.

Adhesives offer numerous benefits, including bonding versatility, strength, durability, improved aesthetics, corrosion protection, enhanced performance, and substrate compatibility. Leading players are continuously innovating to improve productivity. For instance, in January 2023, H.B. Fuller Company launched a new biocompatible adhesive for medical applications, providing effective high tack, secure, and quick bonding under high temperatures. The adhesives segment is projected to register a higher CAGR during the forecast period of 2024–2031.

By Application: Paper & Packaging Segment to Lead

In 2024, the paper and packaging segment is expected to account for the largest share of 30.0% of the adhesives and sealants market. The segment's prominence is due to the rising demand for adhesives and sealants to protect against moisture, dust, and other contaminants during storage and transportation, improve the shelf life of packaged products, and enhance the packaging of drugs.

The benefits of adhesives and sealants in the paper and packaging sector include sealing bonding, enhanced protection, improved shelf life, lightweight packaging, and improved aesthetics. Key players are redefining their business strategies to leverage these benefits. For example, in July 2022, H.B. Fuller Company partnered with Enimac to leverage pressure-sensitive adhesive tapes and provide quality solutions and technical support to a wide range of packaging makers.

However, the building and construction segment is expected to grow at the highest CAGR during the forecast period of 2024–2031. Technological and architectural innovations, increasing demand for adhesives and sealants to fill cracks and seal joints, and the need for high-strength bonds to enhance structural integrity support this growth.

Based on geography, the adhesives and sealants market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 37.0% of the adhesives and sealants market. The growing adoption of adhesives and sealants in the paper & packaging industry, increasing investment in developing economies, and rising adoption of adhesives in the automotive industry are expected to support the growth of the region.

The presence of prominent players offering adhesives and sealants is also supporting the growth of this regional market. For instance, in September 2023, DuPont (U.S.) opened its new adhesives production facility in Zhangjiagang (ZJG), East China. The new facility will produce adhesives to serve customers in the transportation industry, primarily in lightweight and fast-growing vehicle electrification applications. Furthermore, in May 2021, Henkel AG & Co. KGaA (Germany) announced the construction of a new Adhesive Technologies Innovation Center in Shanghai. The state-of-the-art facility will transform Henkel’s current Zhangjiang site into an Innovation Center for China and Asia-Pacific. The new site will also strengthen the position of Henkel Adhesive Technologies to serve a variety of industries and develop leading adhesives, sealants and functional coatings solutions for customers in the region. Moreover, the Asia-Pacific region is projected to register the highest CAGR of 5.0% during the forecast period.

Key Players:

The key players operating in the adhesives and sealants market are Cabot Corporation (U.S.), Ashland Global Holdings Inc. (U.S.), Avery Dennison Corporation (U.S.), H.B. Fuller Company (U.S.), Henkel AG & Co. KGaA (Germany), Arkema S.A.(France), Huntsman Corporation (U.S.), Wacker Chemie AG (Germany), Uniseal Inc. (U.S.), Sika AG (Switzerland), Akzo Nobel N.V. (Netherlands), Dymax Corporation (U.S.), MAPEI S.p.A. (Italy), Meridian Adhesives Group (U.S.), and 3M Company (U.S.).

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Key Questions Answered in the Report:

· Which are the high-growth market segments in terms of product and application?

· What is the historical market size for the adhesives and sealants market?

· What are the market forecasts and estimates for 2024–2031?

· What are the major drivers, restraints, opportunities, challenges, and trends in the adhesives and sealants market?

· Who are the major players in the adhesives and sealants market, and what are their market shares?

· What is the competitive landscape like?

· What are the recent developments in the adhesives and sealants market?

· What are the different strategies adopted by major market players?

· What are the trends and high-growth countries?

· Who are the local emerging players in the adhesives and sealants market, and how do they compete with other players?