The global adhesives & sealants or joining fastening market is expected to grow from USD 74.52 billion in 2024 to USD 95.75 billion in 2029, with a CAGR of 5.14% between 2024 and 2029.
In many industries such as automotive, construction, and manufacturing, adhesives & sealants or joining and fastening play a critical component. Adhesives are designed to fulfill specific requirements according to the industries in which they are applied. Adhesives and sealants provide high safety and structural integrity in automobiles, whereas in the construction industry, they are used to bond and seal materials like concrete, wood, and glass that prevent air and water leakage. The growing number of construction activities all across the world, with the demand to construct the building at a faster pace using various technologies, promotes the market’s growth rate.
Adhesives play an important role in construction activities for structural parts. For example, adhesives help fix the floor between the existing floor and the substrate using joints, which is the latest trend in construction activities. There is a lot more in the construction industry an adhesive can do, which is gearing up the market’s growth rate. In today’s world, people are showing interest in spending more on construction activities, such as building or renovating buildings with the latest technologies. Therefore, the growing popularity of innovations in the construction industry is eventually propelling the market’s growth rate.
Increasing disposable income, especially in urban areas, is inclined to prominently leverage the growth rate of the adhesives & sealants or joining & fastening market. Urban people mostly prefer high-quality building infrastructure, which is possible with the variety of materials escalating the growth rate of the market.
Automobile companies’ strategies to boost the sales of vehicles by cutting off the high costs, which are affordable even for the common people, are additionally gearing up the growth rate of the market. Great innovations in the automobile industry, like the launch of luxurious cars and bikes with advanced technologies, are gearing up with the requirement of adhesives and sealants for various applications solely to impel the market’s growth rate. Electric vehicles have been one of the most important ways of transportation in recent years. People are highly inclined to choose electric cars or bikes in emerging countries like India, China, and others. E.V. sales are breaking the record, which is estimated to continue the same flow in the coming years. The growing prominence to introduce a high number of vehicles according to the people’s demand is certainly to outrage the growth rate of the adhesives & sealants or to join & fastening market.
Fluctuations in the supply chain of raw materials required for manufacturing various products in the industries like automotive, construction, and others is likely to degrade the growth rate of the adhesives & sealants and joining & fastening market.
Lack of awareness over the use of adhesives, especially in undeveloped countries, is slowly degrading the growth rate of the market. Difficulty in recruiting skilled personnel who have knowledge of the effective usage of adhesives and sealants can also hinder the market’s growth rate. The improper application of the adhesives and sealants or joining and fastening may lead to failure of the overall structure. This may lead to a negative impact on the growth rate of the market.
On going demand for the construction of residential and commercial buildings in urban cities with the growing number of people living in these areas is lucratively to pose huge growth opportunities for the market. In the developed and emerging countries, there is high demand for the adhesives and sealants in various applications from consumer goods to electronics. Therefore, adhesives and sealants or joining and fastening market share have the dominant growth opportunities through the forecast period in major countries like India, China, Australia, and others.
Stringent rules and regulations by the government to approve or extend innovative applications for public safety are a great challenge for key market players. Government authorities take a lot of time to test new applications and then give approvals, which is a long process. Relatively, the stability of the adhesives is lower at high temperatures, which is also one of the factors that act as a barrier to the market’s growth rate. Adhesives and sealants do not have stability at high temperatures. Also, the large objects cannot bond with the smaller bonding surface area, which is a negative factor that limits the market’s growth rate.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
80.8% |
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Segments Covered |
By Resin Type, End User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
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Market Leaders Profiled |
Owens Corning (U.S.) Nippon Sheet Glass Co. Ltd. (Japan) Johns Manville (U.S.) Knauf Insulation (U.S.) PPG Industries, Inc. (U.S.) Certain Teed Corporation (U.S.) Pittsburgh Corning Corporation (U.S.) Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia) Saint-Gobain ISOVER (U.S.) Glassolutions Saint-Gobain (U.K.) |
The polyurethane segment is leading with the highest share of the market during the forecast period. The polyurethane resin type has huge benefits in various applications due to its durability, tough bonds, and sealants. In fact, the P.U. can withstand moderate temperatures rather than any other resin types, which is an additional factor for the segment’s share to grow in the coming years. The silicone segment is expected to have the highest growth opportunities throughout the forecast period.
The automotive segment has been gaining traction over the share of the market in the past few years and is expected to grow at the same rate during the forecast period. The automotive industry is evolving across the world at a faster pace, and the quick adoption of the latest technologies and the production of a high number of vehicles according to the customer’s preferences is likely to escalate the market’s growth rate. The building & construction segment is likely to have the fastest growth rate during the forecast period 2024 to 2029. There are ‘n’ number of applications of adhesives and sealants in the construction industry, which is ascribed to boosting the market share in this segment.
The presence of the topmost companies with respect to every industry is engraved in amplifying the growth rate of the market in this region. The U.S. and Canada are the major countries that accounted for leveraging the demand for advanced construction activities with various methods is merely surging the market’s growth rate. Also, the increasing popularity of high-quality interior designs at affordable prices is setting up new growth opportunities for adhesives and sealants or joining and fastening the market in North America. In addition, the rising support from government authorities through investments is accounted for by fuelling the growth rate of the market.
India and China, being the most populous countries across the world, are setting up new opportunities to construct various buildings with high-quality materials, enhancing the market’s growth rate. Rapid urbanization is a boom for the construction of a number of buildings with ambitious infrastructural plans in China, and India is projected to set new opportunities for the market to grow. Growing investment support from both private and public sectors is likely to propel the market’s growth rate. Also, the growing prominence of the quick launch of new technologies in end-user industries is to level up the growth rate of adhesives and sealants or joining and fastening markets.
U.K. and Germany are the hub for the manufacturing of luxurious cars. The increasing popularity of the use of adhesives and sealants or joining and fastening in manufacturing units in automotive industry is a definite factor for the market to grow immensely in Europe. High per capita income and a growing number of people’s interest in the highly advanced electric vehicles in Europe are common to elevate the market’s growth rate.
Owens Corning (U.S.) Nippon Sheet Glass Co. Ltd. (Japan) Johns Manville (U.S.) Knauf Insulation (U.S.) PPG Industries, Inc. (U.S.) Certain Teed Corporation (U.S.) Pittsburgh Corning Corporation (U.S.) Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia) Saint-Gobain ISOVER (U.S.) Glassolutions Saint-Gobain (U.K.) are some of the notable companies in the global Adhesives and Sealants or Joining and Fastening market.
By Resin Type
By End Users
By Region
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