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.
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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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.
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