Adhesives & Sealants Market worth $71.99 billion by 2023 | CAGR of 4.93%

The adhesives & sealants market is estimated at USD 56.59 billion in 2018 and is projected to reach USD 71.99 billion by 2023, at a CAGR of 4.93% between 2018 and 2023. Adhesives are used to join identical or different materials or substrates by their surfaces, whereas sealants are designed for gap filling, tightness, and long-term flexibility. The market size for adhesives is much higher than that for sealants. In many cases, sealants are also used for their adhesive properties, and therefore, the sealants market is influenced by the adhesives market growth. 
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Adhesives & Sealants

The market is witnessing significant growth, with rapidly growing demand from the Asia Pacific and South American regions, especially from China, India, and Brazil, owing to the rising demand for automobiles, increasing infrastructure development, and increasing paper & packaging applications.

Market Leaders - Adhesives & Sealants Market

Companies operating in the adhesives & sealants market are focused on different organic and inorganic growth strategies to expand their presence and increase their market shares, globally. New product development, merger & acquisition, and investment & expansion were the key growth strategies adopted by leading players in the adhesives & sealants market between January 2016 and June 2018. Leading manufacturers of adhesives & sealants include Henkel (Germany), Sika (Switzerland), Arkema (France), H.B. Fuller (US), Huntsman (US), 3M (US), and Illinois Tool Works (ITW) (US).
Henkel, Sika, and Arkema are the key players in the adhesives & sealants market. These companies accounted for a major share of all developmental strategies that took place in between January 2016 and June 2018.
Henkel is a market leader in the adhesives & sealants business. The company has a strong global position and is expected to retain its market share in the near future. The company is focusing on launching new products by 2020 with the aim of increasing its sales and meeting its 2020 targets. For instance, in February 2018, the company launched LOCTITE rubber adhesives, also known as Loctite SI 5930 FIT, for in-tire bonding applications under its adhesive technologies segment. Similarly, in July 2017, Henkel acquired Darex Packaging Technologies (US), a supplier of high-performance sealants and coatings for the metal packaging industry. With this acquisition, the company expanded its market position and strengthened its adhesive technologies business.
Sika is another key player that has established a strong foothold in this market. The company also has a wide product portfolio of adhesives and sealants market. The company has been expanding its product portfolio to cater to the growing demand for adhesives and sealants. It has also invested significantly in product innovation in the past few years. For instance, in March 2018, Sika introduced SikaPower-4508, a one-component heat curing paint shop adhesive & sealant based on flexibilized epoxy resin for the US market.
Arkema focuses on the needs of its customers by offering a range of services through different strategies. Bostik is the specialty adhesives business line of Arkema. The company has adopted various organic and inorganic growth strategies to enhance its production capacity, product portfolio, and geographic reach in the adhesives & sealants market. For instance, in December 2016, Arkema expanded its manufacturing capacities of HMPSA by opening a new facility in Gujarat, India. This development helps the company in supporting the growing demand for its products in both Indian and export markets.
Premium Insights of this study:
  • Attractive Opportunities in the Adhesives & Sealants Market 
  • Adhesives Market, By Formulating Technology 
  • Adhesives Market, By Application 
  • Sealants Market, By Resin Type 
  • Sealants Market, By Application 
  • Adhesives & Sealants Market,  Developed vs. Developing Countries 
  • APAC Adhesives Market, By Application and Formulating Technology 
  • Adhesives & Sealants Market Share, By Country
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