Growing Demand for Bio-based Adhesives & Sealants to Bolster Market Growth

The adhesives & sealants market for manufacturing industry is expected to witness exponential growth over the upcoming decade due to increasing demand from end-use industries. Adhesives and sealants are extensively used across a wide spectrum of industries, including electronics & electrical, aerospace, automotive, food & beverages, and transportation. The entry of new manufacturing technologies coupled with increasing usage of new materials in the development of adhesives and sealants are some of the key factors that are expected to drive the overall growth of the global adhesives & sealants market for manufacturing industry during the forecast period.

Market players involved in the current market landscape are expected to focus on innovations and launching environment-friendly and sustainable adhesives and sealants due to evolving consumer preferences and changes in the regulatory framework. Several players involved in the current market landscape are also likely to focus on improving the quality and functional properties, including recyclability and Energy efficiency to gain competitive edge. Moreover, market players are projected to expand their production capacity, eye mergers & acquisitions, and increasingly tap onto lucrative opportunities in developing regions of the world, such as India, China, Brazil, Vietnam, etc.

At the back of these factors, the global adhesives & sealants market for manufacturing industry is on the course to surpass US$ 33.3 Bn mark by the end of 2030.

Request a sample to get extensive insights into the Adhesives & Sealants Market

Increasing Demand from Automotive Sector to Drive Market

The automotive sector is expected to provide fertile grounds for market growth to the players involved in the current adhesives & sealants market for manufacturing industry. Over the past couple of decades, increasing pressure on OEMs to minimize the weight of the vehicle by regulatory bodies has resulted in significant rise in the demand for lightweight adhesives and sealants– a factor that is projected to boost the growth of the global adhesives & sealants market for manufacturing industry during the assessment period.

The development of new adhesive technologies are increasingly being utilized by the OEMs around the world. Automotive adhesives, including pressure-sensitive adhesive (PSA) tapes and films have garnered considerable popularity worldwide and the trend is set to continue during the forecast period. At present, the usage of adhesives across the automotive sector has expanded from brake shoes to floor underlayment, hood assembly, motor magnets, wire tracking, etc. Market players are expected to focus on refining and introducing innovative PSA films during the forecast period and cater to bonding requirements of the industry.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Market Players Focus on Innovations, Increasing Production, and Expanding Product Portfolio

Players operating in the current adhesives & sealants market for manufacturing industry are expected to focus on both, organic as well as inorganic growth strategies to improve their position in the market. The integration of new technologies and compliance with new environmental regulations are likely to compel the market players to lean toward product innovation. For instance, in 2019, due to the mounting environmental pressure, Jowat announced the launch of a bio-based hot melt adhesive that is primarily developed to fulfil the growing requirement for environment-friendly bonding across the packaging sector. In 2019, H.B Fuller announced the launch of Advantra Warrior ™ - a hot melt adhesive that is primarily developed to fulfil the growing demand for case and carton sealing applications. In June 2020, Bostik announced the launch of a new range of engineering adhesives for high-end packaging applications. Expanding the product portfolio, product innovation, and increasing production capacity are some of the key growth strategies that are likely to gain further momentum during the forecast period.

Stuck in a neck-to-neck competition with other brands? Request a custom report on Adhesives & Sealants Market

Demand to Decline amid COVID-19 Pandemic

The outbreak of the novel COVID-19 pandemic has severely impacted the overall growth of the global adhesives & sealants market for manufacturing industry during 2020. The economic toll of the COVID-19 crisis on stakeholders, suppliers, manufacturers, and end users, especially in 2020, is expected to put forward several barriers for the players involved in the adhesives & sealants market for manufacturing industry, including manufacturing, pricing, and transportation. The downturn in the demand for adhesives and sealants, especially in the first two quarters of 2020, is expected to hinder market growth. However, as lockdown restrictions around the world are being lifted by governments and local authorities, cross-border trade and transportation activities are gradually resuming due to which, the supply chain across the adhesives & sealants market for manufacturing industry is showing signs of recovery.

Analysts’ Viewpoint

The global adhesives & sealants market for manufacturing industry is expected to expand at an impressive CAGR of ~8% during the forecast period. The market growth can be primarily attributed to the widening demand from end-use sectors, innovative manufacturing techniques, increasing usage of new bio-based materials, and research and development. The growing demand for environment-friendly adhesives and sealant is anticipated to provide considerable boost to the overall growth of the global adhesives & sealants market for manufacturing industry during the assessment period. Organic and inorganic growth strategies, including mergers & acquisitions, along with product innovation will remain key to gain competitive edge.

Adhesives & Sealants Market for Manufacturing Industry: Overview

  • Sealant is used to seal spaces and prevent fluids or other substances from passing through material surfaces or joints. Adhesive, on the other hand, is used to hold two surfaces together for an indefinite length of time and varying amounts of stress. The main differences between adhesives & sealants are strength and other physical characteristics associated with strength.
  • The global adhesives & sealants market for manufacturing industry is expected to expand at a significant pace during the forecast period due to increase in demand for adhesives & sealants in electronic and automotive production
  • Asia Pacific held major share of the global adhesives & sealants market for manufacturing industry in 2019. The adhesives & sealants market for manufacturing industry in the region is anticipated to expand at a rapid pace during the forecast period. North America and Europe are other key regions of the global adhesives & sealants market for manufacturing industry.

Key Growth Drivers of Adhesives & Sealants Market for Manufacturing Industry

  • Increase in demand for adhesives & sealants in various electronic products such as electronic appliances and batteries offers significant opportunities to the global adhesives & sealants market for manufacturing industry
  • Adhesives & sealants play an important role in the automotive industry. Focus on reduction of vehicle weight in the production of electric vehicles is a key factor driving the adhesives & sealants market for manufacturing industry
  • Adhesives and sealants are employed in diverse applications in the electronics industry. Adhesives and sealants are majorly used in printed circuit boards (PCB), which is a primary component employed in electronic products.
  • Stringent regulations on CO2 emissions of vehicles are being imposed worldwide. Adhesives and sealants play an important role in reducing CO2 emissions. Adhesives & sealants provide vehicles with structural strength. Adhesives & sealants also possess the ability to bond various surfaces together.

Major Challenges for Adhesives & Sealants Market for Manufacturing Industry

  • Majority of raw materials employed in adhesives & sealants are petrochemical derivatives. In April 2020, global crude oil prices declined significantly due to sudden stoppage in demand for oil & natural gas and restricted travel across the world due to the COVID-19 pandemic.
  • Overdependence on primary petrochemical derivatives has led to substantial volatility in prices over the past few years. Furthermore, depletion of crude oil sources is another factor boosting price volatility in the global adhesives & sealants market.

Lucrative Opportunities for Adhesives & Sealants Market for Manufacturing Industry

  • Environmental and health concerns caused by the rise in carbon footprint and volatility in prices of raw materials have prompted players operating in the global adhesives & sealants market to produce bio-based adhesives
  • Bio-based adhesives not only provide environmental benefits by decreasing carbon footprint but also help lower the total production cost of adhesives and sealants, as compared to that of their synthetic alternatives

Asia Pacific to Dominate Adhesives & Sealants Market for Manufacturing Industry

  • Asia Pacific dominated the global adhesives & sealants market for manufacturing industry in 2019. Growth of the manufacturing sector in countries such as China, India, and Japan is anticipated to drive the demand for adhesives and sealants in automotive and electrical & electronics industries in the region. Surge in automotive production in China and India is propelling the demand for adhesives and sealants in the manufacturing industry in these countries.
  • Germany, the U.K., and France account for a large share of the adhesives and sealants market for manufacturing industry in Europe. Adhesives are extensively used in a wide range of applications. The adhesives & sealants market for manufacturing industry in Europe is driven by increasing demand for adhesives & sealants in industries such as automobile and electronics.
  • Several countries in Europe, especially Germany, Russia, Turkey, and France are major producers of automotive. Demand for adhesives & sealants is projected to increase in these countries in the near future.

Automotive Assembling to Lead Adhesives & Sealants Market for Manufacturing Industry

  • Advancements in technology have reduced the application of spot welding by nearly 50%, which has helped reduce the overall weight of automobiles. Furthermore, the implementation of stringent regulations in the U.S. to increase fuel efficiency has prompted major manufacturers to reduce the weight of automobiles. This, in turn, is driving the demand for adhesives & sealants in the automotive assembling application.

Market Players Engage in R&D Activities and Expansion of Production Capacities

  • Key players operating in the global adhesives & sealants market for manufacturing industry include
    • Henkel AG and Co. KGaA,
    • Sika AG,
    • Bostik SA,
    • RPM International Inc.,
    • KCC Corporation,
    • H.B. Fuller Company,
    • The 3M Company,
    • Illinois Tool Works Inc.,
    • Avery Dennison Corporation,
    • Huntsman International LLC,
    • Dow Inc.,
    • Ashland. These companies are investing significantly in the expansion of production capacities for adhesives & sealants.

Adhesives & Sealants Market for Manufacturing Industry – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global adhesives & sealants market for manufacturing industry in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global adhesives & sealants market for manufacturing industry so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global adhesives & sealants market for manufacturing industry would expand during the forecast period of 2020 to 2030.

The report offers intricate dynamics about different aspects of the global adhesives & sealants market for manufacturing industry, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global adhesives & sealants market for manufacturing industry during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global adhesives & sealants market for manufacturing industry and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (tons).

This study covers a detailed segmentation of the global adhesives & sealants market for manufacturing industry, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global adhesives & sealants market for manufacturing industry, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Adhesives & Sealants Market for Manufacturing Industry

The report provides detailed information about the global adhesives & sealants market for manufacturing industry on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global adhesives & sealants market for manufacturing industry, so as to help them design successful strategies and make target-driven decisions.

  • Which adhesive type and sealant type segments of the global adhesives & sealants market for manufacturing industry would emerge as major revenue generators during the forecast period?
  • How are key market players successfully earning revenues out of the advantages of the adhesives & sealants market for manufacturing industry?
  • What would be the Y-o-Y growth trend of the global adhesives & sealants market for manufacturing industry between 2020 and 2030?
  • What are the winning imperatives of leading players operating in the global adhesives & sealants market for manufacturing industry?
  • Which application segment is expected to create lucrative opportunities for the global adhesives & sealants market for manufacturing industry during the forecast period?
  • Which are leading companies operating in the global adhesives & sealants market for manufacturing industry?

Research Methodology – Adhesives & Sealants Market for Manufacturing Industry

The research methodology adopted by analysts for compiling the global adhesives & sealants market for manufacturing industry report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global adhesives & sealants market for manufacturing industry.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global adhesives & sealants market for manufacturing industry.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global adhesives & sealants market for manufacturing industry.

Adhesives & Sealants Market for Manufacturing Industry – Segmentation

TMR’s research study assesses the global adhesives & sealants market for manufacturing industry in terms of adhesive type, sealant type, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global adhesives & sealants market for manufacturing industry.

Adhesive Type

  • Acrylic
  • Epoxy
  • Poly Vinyl Acetate (PVA)
  • Polyurethane (PU)
  • Styrenic Block
  • Ethyl Vinyl Acetate (EVA)
  • UV Adhesive
  • Silicone
  • Others (including Cyanoacrylate and Hot-melt)

Sealant Type

  • Acrylic
  • Epoxy
  • Poly Vinyl Acetate (PVA)
  • Polyurethane (PU)
  • Modified Silane Polymer (MS)
  • Silicone
  • Others (including Cyanoacrylate and Hot-melt)

Application

  • Electronics & Electrical
  • Appliance Manufacturing
  • Aerospace Manufacturing
  • Battery Production
  • Automotive Assembling
  • Others (including Conformal Coatings and Wire Tracking)

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Adhesives Sealants Market

Buy Now