The global sealants market size was USD 73.73 Billion in 2021 and is expected to register a revenue CAGR of 3.7% over the forecast period, according to the latest report by Reports and Data.
The Sealants market growth is expected to be driven by increasing demand for sealants from construction, packaging, automotive, furniture, and footwear industries. Sealants are used to replace mechanical fasteners such as welds, screws, rivets and gaskets. This helps produce lightweight, compact vehicles at relatively low cost. Adhesive durability is highly dependent on the properties of the adhesive. Helps regulate bond strength. Glass structures require the use of sealants on the panels for a stable structure. A major challenge facing the industry is the fluctuating cost of raw materials used in sealing products. The market is mainly driven by the robust growth and demand of the packaging industry due to the huge demand and rise of the food and packaging industry.
Population growth and urbanization are driving housing construction in developing countries such as India, China, Vietnam, Indonesia, Brazil and Mexico. In these countries, the demand for permanent housing is increasing, which increases the demand for sealants. Sealants are used in a variety of construction applications such as tiles, carpets, wallpaper and exterior insulation systems. Sealants are also used to secure curtain wall panels and insulating glass units. Therefore, increasing demand for adhesives and sealants from the construction industry is a key driver of market revenue growth.
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Companies profiled in the market report include Henkel AG Co. KGaA, H.B. Fuller Company, Sika AG, Arkema S.A., 3M Company, Huntsman Corporation, Illinois Tool Works Inc., Avery Dennison Corporation, Wacker Chemie AG, and RPM International Inc.
Some Key Highlights from the Report
- Based on regional analysis, the Asia-Pacific market is anticipated to bring the highest revenue share to the global adhesives and sealants market during the forecast period. Countries such as China, India and Japan are seeing increasing demand from industries such as packaging, construction and electronics. Industries such as cosmetics, food and beverages, and consumer products are constantly developing new products, increasing production, and using attractive packaging materials to attract customers. Manufacturers have switched to flexible packaging because it is lightweight, has no significant packaging cost difference compared to metal or glass packaging, and can sell products in varying quantities. This has created a demand for flexible packaging materials significantly, increasing the demand for adhesives for packaging applications.
- On November 27, 2020, Tata Steel launched Galvanova, a new generation steel that meets the growing unmet needs of small and medium-sized enterprises (MSMEs). The introduction of Galvanova has strengthened the company's portfolio by focusing on the consumer electronics and solar industries. This product is suitable for HVAC, false ceilings and solar applications.
- On April 28, 2022, Paul Wurth, a business area of the SMS Group, was acquired by his Jindal Stainless Ltd. (JSL), at Kalinganagar Steelworks he was commissioned to build a 2 million tonne blast furnace. The new blast furnace had an operating volume of 2,307 m3 and included a bellless top, TMT machine, copper and cast-iron staves.
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For the purpose of this report, Reports and Data has segmented the global sealants industry into Adhesives Formulating Technology Outlook , Application Outlook, Sealants Resin Type Outlook, Regional Outlook:
Adhesives Formulating Technology Outlook (Revenue, USD Billion; 2019-2030)
- Water-Based
- Solvent-Based
- Hot-Melt
- Reactive
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Building Construction
- Paper, Board, Packaging
- Automotive Transportation
- Woodworking Joinery
- Footwear Leather
- Healthcare
- Electrical Electronics
- Consumer
- Others
Sealants Resin Type Outlook (Revenue, USD Billion; 2019-2030)
- Silicone
- Polyurethane
- Acrylic
- Polyvinyl Acetate
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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