The global Adhesives and Sealants Market is estimated to value at USD 82.4 billion by 2025, exhibiting a CAGR of 5.6% during the forecast period of 2019 to 2025. Increasing the use of high-performance adhesives and sealants in the automotive sector is expected to boost sales of the product over the coming years. Collectively, the adhesives and sealants market is expected to gather significant market revenue during the forecast period, thereby offering several opportunities to investors to spend money on research & development activities.
Adhesives and sealants are gaining traction in several end-use industries including the automotive industry, construction sector, packaging industry, and pressure-sensitive applications. Additionally, increasing penetration of the product in the furniture and footwear industry is further propelling the product demand over the coming years. The use of high-performance adhesives in lightweight passenger cars with higher fuel economy and lower emissions is significantly contributing to adhesives & sealants industry growth over the past few years. Increasing adoption of these products in both interior and exterior automotive applications is the key driving factor associated with industry growth. These adhesives and sealants are rapidly replacing nuts and bolts in order to enhance fuel economy and reduce the weight of the vehicles.
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There is a growing demand for sealants from the construction industry for faster sealing of equipment and longer endurance on substrates. Waterproofing products gaining popularity in exterior applications including terraces and balconies. Waterproofing seals have also found several applications in different building components, while tilting seals are increasingly adopted for various interior applications due to their vivid application scopes. Industry growth for waterproofing and tilting seals is characterized by high penetration capacity among emerging economies and an increasing number of construction projects.
The development of innovative products and the availability of low-cost solutions are expected to favor product demand in the near future. In April 2017, Ashland has unveiled different types of solvent-based pressure-sensitive adhesives (PSA). These PSA) allows manufacturers to enhance the efficacy and usability of their products in demanding applications. Alongside PSAs, Ashland has introduced Aroset PS-6426, which is designed in reference to the HVAC aluminum foil tape applications.
Henkel AG & Company, KGaA, Sika AG, Arkema Group, H.B. Fuller Co., Huntsman Corp., The 3M Co., and Illinois Tool Works (ITW), Inc., are some of the prominent industry participants in the global market.
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