Adhesives & Sealants Market to Expand from USD 70.6 Billion in 2023 to USD 115.3 Billion by 2032 at 5.6% CAGR

Adhesives & Sealants Market Growth Driven by Surge in Construction, Automotive, and Packaging Demand, with a Focus on Sustainable, Eco-Friendly Solutions

AUSTIN, TX, UNITED STATES, December 23, 2024 /EINPresswire.com/ -- The Adhesives & Sealants Market¹ Size was valued at USD 70.6 billion in 2023, and is expected to reach USD 115.3 billion by 2032, and grow at a CAGR of 5.6% over the forecast period 2024-2032.

Market Overview

Adhesives & Sealants is experiencing significant growth due to its widespread adoption in industries such as construction, automotive, and packaging. According to the American Chemistry Council (2023), the demand for advanced adhesive technologies is surging, driven by the automotive sector's move toward lightweight materials and electric vehicles. The European Chemicals Agency (ECHA) also highlighted in 2023 that regulations promoting the use of low-VOC adhesives have spurred innovation and adoption of sustainable products. Furthermore, Henkel AG, a leading company in the sector, announced in 2024 its investment in bio-based adhesives to cater to rising consumer preferences for eco-friendly options. Such developments underscore the market's dynamic growth trajectory.

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Key Companies: 
• Henkel AG & Co. KGaA (Loctite, Technomelt)
• The 3M Company (Scotch-Weld, VHB Tape)
• B. Fuller Company (Clarity, Flextra)
• Sika AG (Sikaflex, Sikadur)
• Arkema S.A. (Bostik, Kynar)
• Dow Inc. (Dowsil, Betaseal)
• Illinois Tool Works Inc. (Permatex, Devcon)
• RPM International Inc. (DAP, Tremco)
• Avery Dennison Corporation (Fastener Adhesive, Supreme Tape)
• Wacker Chemie AG (Elastosil, SilGel)

What are the Growth Factors of the Adhesives & Sealants Market?

The adoption of adhesives for lightweight bonding in automotive manufacturing and weatherproofing in building applications has grown exponentially.
Increasing regulatory focus on VOC emissions drives innovation in sustainable and bio-based adhesives.
Sealants are being widely used in medical devices and minimally invasive surgical procedures due to their biocompatibility.

Market Segmentation and Sub-Segmentation included are:

By Adhesives Product
• Acrylic
• PVA
• Polyurethanes
• Styrenic block
• Epoxy
• EVA
• Other

By Adhesives Technology
• Water Based
• Solvent Based
• Hot Melt
• Reactive & Others

By Adhesives Application
• Paper & packaging
• Consumer & DIY
• Building & construction
• Furniture & woodworking
• Footwear & leather
• Automotive & Transportation
• Medical
• Others Application

By Sealants Product
• Silicones
• Polyurethanes
• Acrylic
• Polyvinyl acetate
• Others Product

By Sealants Application
• Building & Construction
• Assembly
• Automotive & Transportation
• Consumer
• Others

Which Segment Dominated the Adhesives & Sealants Market in 2023?

Paper Board & Packaging accounted for 30.25% of the market share in 2023, making it the dominant segment. The growing e-commerce industry has been a major driver, with companies increasingly utilizing adhesives for secure and tamper-proof packaging solutions. Flexible adhesives are preferred in food packaging to ensure product integrity while meeting stringent safety regulations. For example, the expansion of cold storage chains in the food sector has further amplified the demand for sealants that ensure air-tight packaging.

What are the Opportunities in the Adhesives & Sealants Market?

• With increasing awareness of environmental issues, the market is shifting towards bio-based adhesives. Manufacturers investing in biodegradable and low-VOC solutions are expected to capitalize on this trend.
• Adhesives are finding new uses in wearable devices and flexible electronics, offering immense potential in the consumer electronics segment.

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Which Region Dominated the Adhesives & Sealants Market in 2023?

Asia-Pacific dominated the adhesives and sealants market and held 43% of the market share in 2023. The region's rapid industrialization, especially in countries like China and India, has bolstered demand in the construction and automotive sectors. For example, China's growing emphasis on green building practices has driven the adoption of eco-friendly adhesives. Additionally, the rise in e-commerce in the region has significantly boosted the packaging industry.

Recent Developments

• July 2023: Sika acquiredChema, a family-owned Peruvian company known for tile grouts, adhesives, and mortars, bolstering its Building Finishing portfolio and expanding its distribution presence in Peru.
• March 2023: Arkema acquiredPolytec PT, enhancing Bostik’s adhesives range for batteries and electronics, aligning with the Group’s strategy to offer sustainable, full-system solutions in these growing markets.

The Adhesives & Sealants Market is poised for robust growth, driven by innovations in eco-friendly solutions and rising demand across industries. Key trends include advancements in bio-based adhesives and expanding applications in healthcare and electronics.

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¹ https://www.snsinsider.com/reports/adhesives-and-sealants-market-1683