Introduction and high growth prospects of high-performance polymers in the construction sector have worked to the advantage of the global adhesives and sealants market. While the building and construction industry has been the mainstay of adhesives and sealants sales worldwide, furniture, paper and pulp, packaging, automotive and transportation, electronics, and footwear also represent some of the other key consumer segments that generate measurable demand for adhesives and sealants. Applications in packaging and paper in fact accounted for nearly a fourth of total sales of adhesives and sealants recorded in 2018, indicates a new upcoming intelligence study of Fairfield Market Research. The report also suggests that the rampant expansion of packaged food sector will provide a magnificent impetus to the sales of innovative sealants and adhesives in the near future.
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Evolving Automotive Industry Looks at Adhesives and Sealants as Preferred Fastening Materials
With the massive consumption volume of over 19 MT every year, adhesives and sealants continue to garner a majority of traction within the building and construction industry. However, the demand for automotive and transportation applications has been growing exponentially over the recent past. The industry’s move to the e-mobility of the future and the consecutive rise in demand for fuel-efficient, lightweight automobiles are giving a strong push to the sales of adhesives and sealants in global market. OEMs associated with the automotive industry are especially seeking innovative and highly effective materials that would promote excellent bonding of components that are lighter in weight when compared to their conventional fastening alternatives. The role of sealants and adhesives in reducing noise, vibration, and harshness (NVH application) is also gathering significance, thereby bolstering sales further.
Packaging Application Underpins Sales of Adhesives and Sealants in Multiple Sectors
While the construction industry’s rebound in Europe and North America contribute significantly to the rising demand, robust infrastructural progress of developing Asian economies and some other countries such as Brazil are expected to register heavy consumption of adhesives and sealants. However, given the impact of COVID-19 impact on the building and construction industry, the sales of sealants will most likely remain dampened for a while. On the other hand, adhesives continue to sell out steadfast as the consumption by medical, packaging, and paper industries is thriving incessantly. With ecommerce and packaged food sectors growing in leaps and bounds, innovative and cost-effective adhesive products with low-odour high-adhesion attributes will gain ground faster. Emerging packaging application in the beauty and cosmetics landscape is also expected to be a major booster to the adhesives and sealants market. Solid growth in sales of labels and tapes will further supplement demand.
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Sustainable Solutions Garner Interest of Adhesive and Sealant Manufacturers
While the US and western European countries represent maturing markets, manufacturers of sealants and adhesives will highly likely discover new opportunities in eastern European economies, Turkey, and Russia. The trend in these countries is however inclining towards environmentally sustainable adhesive and sealant materials. In terms of consumption, Asia Pacific was the top consumer region in 2018, led by China. The rise of green building standards their rapidly growing expanse will be among the important contributors in fostering the demand for adhesive and sealants. Although water-based adhesives remain the most sought-after, hot melt adhesives are also likely to witness decent growth in demand in the near future. In an effort to achieve versatile applicability, companies are investing in speciality adhesives and reactive adhesives that mark some of the recent industry trends. In 2018, the 10 leading players in the global adhesives and sealants market captured more than half the total market valuation. Some of the most prominent companies include H.B. Fuller, Sika, 3M, Bostik, Henkel, and Dow.
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