Global Adhesives & Sealants Market (2023-2028) by Formulating Technology, Resin, Application, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis

The growth of the market is attributed to the growing use of adhesives and sealants in the construction and automotive industries

The Global Adhesives & Sealants Market is estimated to be USD 64.86 Bn in 2023 and is expected to reach USD 85.98 Bn by 2028, growing at a CAGR of 5.80%.

An adhesive is used mainly for its ability to bond two surfaces together. Adhesives have strong shear and tensile strength, making them viable bonding materials for high-pressure situations. Applied accurately using a meter/mix dispensing system or adhesive dispenser, they can provide long-lasting bonds. A sealant is generally lower in strength than an adhesive and is also used for a different purpose. Sealants are often used to fill gaps and resist relative movement of the surfaces they are applied to. Even though adhesives are generally stronger, sealants give the assembly much more flexibility.
According to a world bank report, Globally, over 50% of the population lives in urban areas today. By 2045, the world's urban population will increase by 1.5 times to 6 billion. City leaders must move quickly to plan for growth and provide the essential services, infrastructure, and affordable housing their expanding populations need. Hence, construction activities in many regions are increasing as the construction activities increasing demand for Adhesives and Sealants also increases. Adhesives and Sealants are generally used to close the small openings between surfaces where other materials like concrete or mortar can’t be used. In construction, Adhesives and Sealants are used to seal cracks, joints in concrete roads, expansion joints, and fill gaps between concrete.

However, some adhesives and sealants contain toxic chemicals that can harm human health and the environment. These chemicals can also be released during manufacturing, posing a risk to workers and nearby communities. Adhesives and sealants can create significant amounts of waste during the manufacturing process, and if not disposed of properly, they can contribute to landfills and pollution. Also, it isn't easy to recycle adhesives and sealants. This creates a challenge for the adhesives and sealants market.

Moreover, Eco-friendly adhesive creates an opportunity for the adhesives and sealants market. This is due to the expanding understanding of conventional adhesives' effect on the environment and human wellness. There are several benefits to using eco-friendly adhesives; they are biodegradable, suggesting that they will certainly damage down gradually and not contribute to long-term air pollution. Eco-friendly adhesives and sealants are commonly made from renewable resources, reducing the dependence on non-renewable materials such as petroleum.

Market Segmentations

The Global Adhesives & Sealants Market is segmented based on Formulating Technology, Resin, Application, and Geography.

• By Formulating Technology, the Global Adhesives & Sealants market is classified into Water-Based, Solvent-Based, Hot Melt Adhesives, Reactive, and Other Adhesives. The demand for Hot Melt Adhesives formulating technology is predicted to grow with the highest CAGR in the forecasting period. The hot melt adhesive product is used in various industries. In the automotive industry, these products are used for dashboards. This product reduced vibrations coupled with greater insulation from the sound. The wider use of the product was observed in the textile industry over the last few years. The product greatly improves the anti-pilling performance of cotton-woven fabrics while enhancing the elastic recovery rate of the fabric.
• By Product, the Global Adhesives & Sealants market is classified into Acrylic, PVA, Polyurethanes, Styrenic block, Epoxy, and EVA. The Acrylic segment is anticipated to grow with height CAGR in the forecasting period. This segment is increased due to the increasing construction of process plants, stadiums, bridges, museums, concert halls, research facilities, and medical buildings, which is projected to benefit the segment's expansion.
• By Application, the Global Adhesives & Sealants market is classified into Building and construction, Paper, Board, and packaging, Automotive and transportation, Woodworking and joinery, Footwear and leather, Healthcare, Electrical and electronics, and Others. The building & construction segment is predicted to grow with the highest CAGR in upcoming years. Adhesives and Sealants help to close the small openings between surfaces where other materials like concrete or mortar can’t be used. As construction activities increase in various regions, the demand for adhesives and sealants also increases.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Asia-Pacific region is predicted to hold the largest market share in the forecasting period. The demand for such products increases, and the demand for adhesive tape also increases. Hence the demand for adhesives & sealants from this region.

Recent Developments

• Huntsman Corp. announced it completed the acquisition of Gabriel Performance Products (Gabriel), a manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants, and composite end-markets, from Audax Private Equity. - January 2021

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Ashland Inc., BASF SE, Beardow & Adams Ltd., DELO Industrial Adhesives LLC, Dow Inc., etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Adhesives & Sealants Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Adhesives & Sealants Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Adhesives & Sealants Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

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