The global adhesives & sealants market size will grow to USD 80.0 billion by 2025 from USD 63.2 billion in 2020, at a CAGR of 4.8% during the 2020-2025 period. The growth of the market is supported by the increasing construction and automobile applications, advancements in formulating technologies, and growing demand in the APAC region.
Browse 280 market data Tables and 69
Figures spread through 364 Pages and in-depth TOC on "Adhesives & Sealants Market by Adhesive Formulating Technology
(Water-based, Solvent-based, Hot-melt, Reactive), By Sealant Resin Type
(Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl), Application,
Region - Global Forecast to 2025"
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Henkel AG (Germany) is the leading company in the
manufacturing of adhesives & sealants. It has a diversified product
portfolio with several investments in product innovation. Its customers can
choose from a wide variety of adhesive & sealant products. It has a strong
network for distributing and manufacturing adhesives with more than 138
production sites to meet the changing demands of the adhesives & sealants
industry, worldwide. The company continuously focuses on its organic &
inorganic growth. This will boost the growth of the company and, also, its
adhesives & sealants business, globally. In July 2017, Henkel AG acquired
Darex Packaging Technologies (US), a supplier of high-performance sealants and
coatings for the metal packaging industry around the world. The company has
expanded its market positions and strengthened its adhesive technologies
business and complements its technology portfolio with the help of this
acquisition.
The second most active company in the market is
H.B. Fuller (US). The company offers broad products in the adhesives &
sealants range. It focuses on R&D for new product and innovation. It is one
of the leading industrial adhesives & sealants manufacturers and has a good
position in the market. It has a presence in diversified geographical markets.
The company is continuously focusing on organic and inorganic growth
strategies, which are expected to increase its presence and revenue, globally.
As a part of inorganic growth, in October 2017, H. B. Fuller acquired Royal
Adhesives & Sealants (US), a leading manufacturer of high-value specialty
adhesives & sealants. This acquisition has led to a broader portfolio of
the company along with its expanded development and production capabilities.
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The key market players are Henkel
AG (Germany), H.B. Fuller (US), Sika AG (Switzerland), Arkema (Bostik SA)
(France), 3M Company (US), Huntsman Corporation (US), Illinois Tool Works Inc.
(US), Avery Dennison Corporation (US), Dow Inc. (US), and Wacker Chemie AG
(Germany). These players have adopted various strategies, such as merger &
acquisition, investment & expansion, new product launch, partnership &
agreement, and joint venture to grow in the market. New product launch was the
key strategy adopted by the major players between 2016 and 2020. This strategy
helped companies strengthen their product portfolios and cater to the rising
needs of end-users. `
COVID-19 Impact
on the Global Adhesives & Sealants Market
COVID-19 has posed many challenges for the
automotive sector. The US, Germany, the UK, Italy, South Korea, Spain, and
Japan are among the adversely affected major industrialized economies.
According to a study by Boston Consulting Group, despite encouraging reports on
progress toward a vaccine, numerous risks remain. It is projected that the
sales in Europe and the US will not rebound to pre-COVID levels until 2023 at
the earliest.
COVID-19 has posed many challenges in the
construction sector. Major economies across the world, such as the US, Germany,
the UK, Italy, South Korea, Spain, and Japan, are among the severely affected
countries by the pandemic. Social distancing measures, supply chain
disruptions, and workforce dislocation have led to the suspension of
construction activities in most countries due to the disruptions in supply
chains and shortage of raw materials and labor. Construction companies with high
debts and lower cash reserves faced a liquidity crisis. However, the
construction of temporary hospitals and quarantine centers increased with this
outbreak of coronavirus.
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