High Performance Adhesives & Sealants Market - Forecast(2023 - 2028)

Report Code: CMR 90514 Report Format: PDF + Excel

High Performance Adhesives & Sealants Market Overview

High performance adhesives & sealants market size is forecast to reach US$15.3 billion by 2027, after growing at a CAGR of 5.2% during 2022-2027. Globally, the usage of high-performance anaerobic adhesives and sealants in the medical and healthcare segment is projected to drive the high-performance adhesives market growth. These are utilized as UV curable and cyanoacrylic high performance adhesives in medical devices, such as in catheters, syringes, and silicone rubber components. High Performance adhesives & sealants such as vinyl acetate, polyamides, and polysulfide, possess superior heat resistant characteristics and therefore, have many applications in transportation, electrical & electronics and other industries, which is driving the market growth. Additionally, in transportation industry, these thermoplastic adhesives and sealants are widely used in preventing rust and corrosion on automotive body parts, which is further anticipated to boost the growth of the high performance adhesives & sealants market over the projected timeframe.

COVID-19 Impact

The COVID-19 has had a negative impact on adhesives and sealants demand across various end-use industries such as transportation, medical & healthcare, and building & construction, which has reduced high performance adhesives & sealants consumption. There has been a temporary suspension of building and construction activities in various regions, which has adversely affected the high performance adhesives & sealants market growth during the outbreak. For instance, the construction output in Great Britain fell by a record 35.0% in Q2 of 2020 compared with Q1 due to the pandemic. The disruption of the supply chain, resulting in the delay or non-arrival of raw materials, the disruption of financial flows, and the increasing absenteeism of production line workers, forced manufacturers of medical devices and automotive goods to operate at zero or partial capacity. This leads to a decrease in demand for high performance adhesives & sealants, which limited the growth of the market during the pandemic in different regions.

Report Coverage

The report: “High Performance Adhesives & Sealants Market Report – Forecast (2022 - 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the high performance adhesives & sealants industry.

By Resin Type: Epoxy, Polyurethane, Acrylic, Silicone, and Others
By Technology: Solvent-based, Water-based, Hot-melt, UV Curable, and Others
By End Use Industry: Transportation (Aerospace, Marine, Automotive), Packaging, Electrical and Electronics, Building and Construction (Residential, Commercial, Industrial, Infrastructure, Others), Medical and Healthcare, and Others
By Geography: North America (U.S.A., Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East and Africa)

Key Takeaways

  • The Asia Pacific region dominates the high performance adhesives & sealants market owing to the rising growth and increasing investments in the construction industry. For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), till December 2020, FDI in the construction industry stood at US$ 23.99 billion.
  • Rapidly rising demand for water-based high performance adhesives & sealants due to their high mechanical strength and toughness, has driven the growth of the high performance adhesives & sealants market.
  • The increasing demand for high performance adhesives & sealants in transportation sector, due to its usage in preventing rust and corrosion on automotive body parts, has been a critical factor driving the growth of the high performance adhesives & sealants market in the upcoming years.
  • However, the rising health and environmental issues by using high performance adhesives & sealants can hinder the growth of the high performance adhesives & sealants market.

Figure: Asia-Pacific High Performance Adhesives & Sealants Market Revenue, 2021-2027 (US$ Billion)

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High Performance Adhesives & Sealants Market Segment Analysis – By Resin Type

The silicone segment held the largest share in the high performance adhesives & sealants market in 2021. Silicone-based adhesives provide good adhesion and bond strength to wood, natural and synthetic fiber, glass, painted surfaces and other plastics and metals. Silicone-based adhesives and sealants possess excellent electrical and thermal conductivity, adhesion to plastic and metal substrates, and heat resistance as compared to other resins such as epoxy and acrylic. They are utilized in industrial sealing and assembly applications that witness extreme temperature, ultraviolet light, and chemical exposure. Moreover, they are utilized in the manufacture of tapes and labels and provide adhesion to various surfaces, exposed to harsh thermal and chemical conditions. Thus, with the rising usage of silicone, the market for the high performance adhesives & sealants is further estimated to rise over the forecast period.

High Performance Adhesives & Sealants Market Segment Analysis – By End-Use Industry

The medical and healthcare industry held the largest share in the high performance adhesives & sealants market in 2021 and is expected to grow at a CAGR of 5.7% during 2022-2027. The rise in the aging population and advancements in medical devices will increase the usage of UV curable and cyano-acrylic high-performance adhesives, such as in the IV delivery systems, syringes, catheters, silicone rubber components, hearing aids, and other medical devices. The demand for thermoplastic high performance adhesives & sealants is increasing due to developments and advancements in medical devices. Globally, with the rising growth in the medical and healthcare sector, the demand for high performance adhesives & sealants is also estimated to rise. For instance, according to the Invest India, the medical device sector is growing steadily at a CAGR of 15% over the last 3 years and the medical devices industry in India is poised for significant growth with the market size expected to reach US$50 billion by 2025. Thus, with the growing demand for medical devices in the medical and healthcare industry, the high performance adhesives & sealants market would further rise over the forecast period.

High Performance Adhesives & Sealants Market Segment Analysis – By Geography

Asia-Pacific region dominated the high performance adhesives & sealants market with a share of 43% in the year 2021. The Asia Pacific region is predicted to continue its dominance in the market during the forecast period due to the increasing requirement for high performance adhesives & sealants in developing countries such as China, Japan, India, and South Korea. China is expected to continue its dominance in the high performance adhesives & sealants market during the forecast period. This is due to the growth of the transportation and construction industries in the country. For instance, according to International Trade Administration, in China, construction industry revenue was reported to increase from US$ 968 billion in 2019 to US$ 1.1 trillion in 2021. India and Taiwan are also predicted to grow their high performance adhesives & sealants market during the forecast period, with increased investments by the government in construction, transportation, and other end-use industry. High performance adhesives & sealants are used in automobiles for preventing corrosion and rust on the body parts and other components of automobiles. According to Invest India, in 2020, the transportation industry was worth US$ 806.63 billion and is further expected to grow at a CAGR of 5.9%. Thus, the rising usage of high performance adhesives & sealants in various end-use industries will drive the market growth in the forecast period.

High Performance Adhesives & Sealants Market Drivers

Increasing Demand for Water-based Coatings Will Drive the Market Growth

The increasing demand for water-borne coatings is the key driver for the high performance adhesives & sealants market, especially from developing countries. High mechanical strength and toughness are the major properties exhibited by the water-based high performance adhesives & sealants, additionally with electrical and thermal properties. The high cost of high performance adhesives & sealants can be foreshadowed by the excellent properties and long life of the water-based coatings. In addition, high performance adhesives & sealants technology is projected to be majorly adopted due to the low pollution caused by them, under the strict regulations by the government, especially to control the air pollution. In various regions, under the paints and coatings segment, the major share is held by the water-based technology of high performance adhesives & sealants. Thus, the excessive use of water-based coatings in building and construction, transportation, and other end-use industries will drive the growth of the high performance adhesives & sealants market in the forecast period.

Increasing Demand for High Performance Adhesives & Sealants in the Transportation Industry

High performance adhesives & sealants in the transportation industry provide great advantages in preventing rust and corrosion on automotive body parts. It involves applying a primer to metal parts that are anti-corrosive and are made up of a thin epoxy-based coating. Furthermore, with formulations availability, concrete, and steel marine structures are protected by high performance adhesives & sealants, to adhere to wet substrates, such as coating water tanks, outfall structures, fish ladders, and dams. Automotive applied in water suspension uses high performance adhesives & sealants such as vinyl acetate and polysulfide, as a primer, and as two-part liquid marine coatings. In recent years the rising production of automotive has further raised the demand for high performance adhesives & sealants. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), in Austria, motor vehicle production increased from 86,300 units in 2020 to 92,000 units in the year 2021. Similarly, in the USA, the production of motor vehicles increased from 62,39,401 units in 2020 to 68,57,182 units in the year 2021. With the increasing production of automobiles, it is estimated that in the upcoming years the requirement for high performance adhesives & sealants in the transportation industry will rise. This, will boost the growth of the market.

High Performance Adhesives & Sealants Market Challenges

Rising Health and Environmental Issues Will Hamper the Market Growth

The application of high performance adhesives & sealants emits abundant chemical gases, which are considered to be hazardous when inhaled. Therefore, there are strict regulations applied on their usage. Moreover, the rising awareness about health effects and environmental concerns, have become prominent for manufacturers. The main impact includes skin allergies, irritation of the eyes, nose, throat, and skin, and asthma. The U.S. Environmental Protection Agency, are taking different measures and hence, are implementing stringent rules and regulations on the manufacturers of high performance adhesives & sealants. Thus, the rising health and environmental issues by using high performance adhesives & sealants, will hamper the market growth.

High Performance Adhesives & Sealants Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies players adopt in the high performance adhesives & sealants markets. High performance adhesives & sealants top 10 companies include:

  1. Henkel
  2. 3M
  3. Chugoku
  4. H.B. Fuller
  5. Illinois Tool Works
  6. Arkema
  7. Sika AG
  8. Royal Adhesives & Sealants
  9. Huntsman International LLC
  10. Chemique Adhesives, Inc.

Recent Developments

  • In April 2020, Chugoku launched solvent-free epoxy coating for water ballast tanks. It also meets new Korean regulations under the Atmospheric Environment Conservation Act for the management of volatile organic compounds (VOCs).
  • In July 2020, Arkema acquired Fixatti, a manufacturer of thermos-bonding adhesive powder. This acquisition was done to strengthen the global offering of hot-melt adhesives solutions for niche industrial applications in industries, such as construction, automotive, textile, and others.
  • In July 2021, Chemique Adhesives, Inc., a pioneer in the development of solvent-free polyurethane, water- based adhesives and adhesive application equipment, Launches New Turftak LV Synthetic Turf Adhesive, to increases the production efficiencies of synthetic turf installers by as much as 50 percent over traditional turf adhesive offerings.

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1. High Performance Adhesives & Sealants Market- Market Overview
    1.1 Definitions and Scope
2. High Performance Adhesives & Sealants Market - Executive Summary
    2.1 Key Trends by Resin Type
    2.2 Key Trends by Technology
    2.3 Key Trends by End-Use Industry
    2.4 Key Trends by Geography
3. High Performance Adhesives & Sealants Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. High Performance Adhesives & Sealants Market - Startup Companies Scenario Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. High Performance Adhesives & Sealants Market – Industry Market Entry Scenario PremiumPremium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. High Performance Adhesives & Sealants Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. High Performance Adhesives & Sealants Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. High Performance Adhesives & Sealants Market – By Resin Type (Market Size -US$ Million/Billion)
    8.1 Epoxy
    8.2 Polyurethane
    8.3 Acrylic
    8.4 Silicone
    8.5 Others
9. High Performance Adhesives & Sealants Market – By Technology (Market Size -US$ Million/Billion)
    9.1 Solvent-based
    9.2 Water-based
    9.3 Hot-melt
    9.4 UV Curable
    9.5 Others
10. High Performance Adhesives & Sealants Market - By End-Use Industry (Market Size -US$ Million/Billion)
    10.1 Transportation
        10.1.1 Aerospace
        10.1.2 Marine
        10.1.3 Automotive
            10.1.3.1 Passenger Cars
            10.1.3.2 Light Commercial Vehicles
            10.1.3.3 Heavy commercial Vehicle
            10.1.3.4 Others
    10.2 Packaging
    10.3 Electrical and Electronics
    10.4 Building and Construction
        10.4.1 Residential
            10.4.1.1 Independent homes
            10.4.1.2 Row homes
            10.4.1.3 Large apartment buildings
        10.4.2 Commercial
            10.4.2.1 Hospitals and Healthcare Infrastructure
            10.4.2.2 Educational Institutes
            10.4.2.3 Hotels and Restaurants
            10.4.2.4 Banks and Financial Institutions
            10.4.2.5 Hyper and Super Market
            10.4.2.6 Shopping Malls
            10.4.2.7 Others
        10.4.3 Industrial
            10.4.3.1 Manufacturing Plants
            10.4.3.2 Industrial Plants
            10.4.3.3 Warehouses
            10.4.3.4 Others
        10.4.4 Infrastructure
        10.4.5 Others
    10.5 Medical and Healthcare
    10.6 Others
11. High Performance Adhesives & Sealants Market - By Geography (Market Size -US$ Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zeeland
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. High Performance Adhesives & Sealants Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. High Performance Adhesives & Sealants Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share at Country Level - Major companies
    13.4 Market Share by Key Geography - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product - Major companies
14. High Performance Adhesives & Sealants Market – Key Company List by Country Premium Premium
15. High Performance Adhesives & Sealants Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Demand Market Analysis Market 2019-2024 ($M)
2.Global Sealants Market, by Type Market 2019-2024 ($M)
3.Global Supply Market Analysis Market 2019-2024 ($M)
4.Global Demand Market Analysis Market 2019-2024 (Volume/Units)
5.Global Sealants Market, by Type Market 2019-2024 (Volume/Units)
6.Global Supply Market Analysis Market 2019-2024 (Volume/Units)
7.North America Demand Market Analysis Market 2019-2024 ($M)
8.North America Sealants Market, by Type Market 2019-2024 ($M)
9.North America Supply Market Analysis Market 2019-2024 ($M)
10.South America Demand Market Analysis Market 2019-2024 ($M)
11.South America Sealants Market, by Type Market 2019-2024 ($M)
12.South America Supply Market Analysis Market 2019-2024 ($M)
13.Europe Demand Market Analysis Market 2019-2024 ($M)
14.Europe Sealants Market, by Type Market 2019-2024 ($M)
15.Europe Supply Market Analysis Market 2019-2024 ($M)
16.APAC Demand Market Analysis Market 2019-2024 ($M)
17.APAC Sealants Market, by Type Market 2019-2024 ($M)
18.APAC Supply Market Analysis Market 2019-2024 ($M)
19.MENA Demand Market Analysis Market 2019-2024 ($M)
20.MENA Sealants Market, by Type Market 2019-2024 ($M)
21.MENA Supply Market Analysis Market 2019-2024 ($M)

LIST OF FIGURES

1.US High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
2.Canada High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
3.Mexico High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
4.Brazil High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
5.Argentina High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
6.Peru High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
7.Colombia High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
8.Chile High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
9.Rest of South America High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
10.UK High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
11.Germany High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
12.France High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
13.Italy High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
14.Spain High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
15.Rest of Europe High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
16.China High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
17.India High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
18.Japan High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
19.South Korea High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
20.South Africa High Performance Adhesives & Sealants Market Revenue, 2019-2024 ($M)
21.North America High Performance Adhesives & Sealants By Application
22.South America High Performance Adhesives & Sealants By Application
23.Europe High Performance Adhesives & Sealants By Application
24.APAC High Performance Adhesives & Sealants By Application
25.MENA High Performance Adhesives & Sealants By Application