The Adhesives & Sealants Industry
Adhesives & sealants industry is gaining popularity with the rise in demand for eco-friendly products. Increasing regulations and growing environmental awareness is driving key manufacturers to produce non-hazardous and green adhesives & sealants.
Among the various applications of adhesives & sealants, pressure sensitive applications have captured significant value share. These products are used in applications such as electrical & electronics, automotive and aviation.
Building & Construction
Growing population and rise in urbanization have led to increasing spending in the building & construction industry. This sector is a key end-use industry for adhesives and sealants as it requires bonding applications in window frames, panels, wall curtains, ceilings, and more. Additionally, the industry is rapidly adopting new technologies and design techniques, which is driving the demand for high-performance adhesives.
The coronavirus pandemic has affected the growth of various industries, including the automotive, packaging, and construction industry. Several projects related to construction, renovation, and repair of buildings and road infrastructure were halted as a result of the lockdowns and other restrictions during the COVID-19 pandemic. This impacted the sales of adhesives and sealants significantly in many countries, leading to significant declines in revenue for manufacturers.
Demand for high-performance glues has been rising as a result of the growing popularity of electric vehicles. These glues are used to attach electronic components and batteries, as well as to reduce the overall weight of the vehicle. Acrylics, epoxies, and cyanoacrylates are widely used aviation adhesives. They are primarily preferred for their superior adhesion, strength, and resistance to temperature and humidity.
Automotive & Transportation
The global adhesives & sealants market is growing at a rapid pace and will continue to grow during the forecast period. This growth is mainly due to the increase in funding for construction activities in developing countries. Additionally, there is an increasing demand for environmentally friendly products. As a result, manufacturers are developing non-hazardous adhesives and sealants. Some of the major players in the market include Henkel AG & Co. KGaA, 3M, H.B. Fuller Company, and Arkema Group (Bostik SA).
The automotive industry is a significant driver of the adhesives & sealants market. The demand for lightweight, low-carbon-emission vehicles has increased. This has led to an increase in sales of high-performance adhesives and sealants.
Adhesives & sealants are used in a wide range of applications including paper, board, and packaging, woodworking and joinery, transportation, leather & footwear manufacturing, electrical & electronics, and building and construction. The market is segmented by adhesive adhesives & sealants industry technology, sealant product type, end-user industry, and geography. The report also includes a comprehensive analysis of the market drivers, restraints, and opportunities.
Electrical & Electronics
The electrical & electronic industry accounts for significant share of the global adhesives & sealants market. This industry is expected to grow at a high rate from 2022 to 2030 due to rising infrastructure investments.
A number of manufacturers are introducing lightweight, low-carbon-emitting cars in the automotive sector, which is driving the demand for adhesives & sealants. Furthermore, the surging demand for safety labels for power equipment and pressure sensitive applications will further boost the growth of the market.
In the aerospace sector, numerous airlines have shut down or reduced their passenger traffic during the COVID-19 pandemic. This has led to the contraction in the production of aircrafts, which is adversely impacting the growth of the industry.
The report analyzes the competitive landscape of the global adhesives & sealants industry, and includes detailed profiles of key players. It assesses the strengths, weaknesses, opportunities, and threats of the leading adhesives & sealants industry companies. It also offers a comprehensive understanding of the user industries that are driving the global market for adhesives & sealants. It uses the Porter’s five forces model to evaluate the market attractiveness.
Medical
The medical industry is another significant driver for adhesives & sealants, with new advancements in healthcare treatments driving the growth of the sector. Adhesives and sealants can help bond materials used in the design of medical devices. This allows manufacturers to create lightweight, durable, and safe products.
Increased R&D activities and technological innovations are surging demand for a wide range of electrical & electronic devices such as tablets, cell phones, laptops, and others that require the bonding of various components. This, in turn, is driving the growth of the market for adhesives & sealants in the electronics sector.
The COVID-19 pandemic has significantly impacted the global production of adhesives & sealants. However, it is expected to regain momentum as the end-use sectors recover from the impact of lockdowns and shutdowns. The recovery of the automotive, building & construction, and electrical & electronics industries will support the growth of the global adhesives & sealants market. In addition, the demand for eco-friendly products with low volatile organic compounds (VOC) is boosting growth in the market. This is resulting in major companies developing products such as Henkel’s Full-Care 5885.
Aviation
The aviation industry largely focuses on adhesives and sealants to bond the various components together. However, the COVID-19 pandemic led to a decrease in aircraft manufacturing and travel restrictions, which temporarily hampered the aviation industry. This, in turn, slowed down the demand for aerospace adhesives and sealants. The industry is expected to regain its momentum in the near future.
Stringent environmental regulations such as the US EPA (the United States Environmental Protection Agency), REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals), Leadership in Energy and Environment Design (LEED), and more have made key manufacturers produce eco-friendly products with low or no VOCs. These green and sustainable products have provided remunerative opportunities to the market.
Some of the major players in the adhesives & sealants industry include Illinois Tool Works Inc., Arkema S.A, Henkel AG & Co. KGAA, Scott Bader Co., Dow Inc., HB Fuller, and Uniseal. Moreover, the industry has witnessed the rise of bio-based products. These products are derived from plant extracts and have lower VOC levels. They are becoming popular among consumers as they are safe for the environment and do not pose any health hazards.