The adhesives and sealants market is projected to grow from U.S. $71.4 billion in 2021 to $85.8 billion by 2026, at a CAGR of 3.7% between 2021 and 2026. This is according to a new report from ResearchAndMarkets.
The major drivers for the growth are increased demand for adhesives in the medical industry, increasing demand for adhesives and sealants from the building and construction industry, as well as growth in the appliances industry.
However, the paper and packaging industry and the automotive and transportation sectors have been and are expected to hold as the fastest growing sectors (see below).
The reactive and formulating technologies segment is expected to register the fastest growth during the forecast period because these solutions exhibit high-bond strength and long-term durability under severe environmental conditions. They also typically offer a better performance advantage than hot-melt or solvent-borne technologies.
Paper & packaging: the largest application of adhesives
The paper and packaging has been the largest application segment in terms of adhesives — in volume and value. This is because of the increased use of adhesives in:
- A variety of paper-bonding applications, including corrugated-box construction and the lamination of printed sheets
- Packaging material used for all types of consumer products
- Production of large industrial tubes and cores used by manufacturers of roll goods and other materials
The increased demand for flexible packaging will play an important role in driving the adhesives market.
Automotive & transportation: the fastest-growing application of sealants
The automotive and transportation sectors are the fastest-growing segment for sealants in relation to volume and this is expected to continue through 2026.
Sealants are replacing mechanical gaskets owing to their resistance to corrosion and chemicals. The popular sealants used for vehicles include polyvinyl, polyurethanes, silicones, and other elastomeric rubbers. The increasing use of plastics, composites, and fibers in auto manufacturing has also aided this growth, since plastics cannot be welded.
Most challenges in these markets, according the new report, relate to shifting rules and changing standards, such as for greater sustainability regulations.
A few of the top adhesive and sealant companies mentioned in the report:
- Adhesives Research Inc.
- Arkema (Bostik)
- Avery Dennison Corporation
- Delo Industrie Klebstoffe GmbH & Co. KGaA
- Dow Inc.
- Dymax Corporation
- H.B. Fuller
- Henkel Ag
- Huntsman Corporation
- Illinois Tool Works Inc.
- Master Bond Inc.
- Meridian Adhesives Group
- Parker Hannifin Corp (Parker Lord)
- Sika Ag
- Wacker Chemie Ag