Asia Pacific Sealants and Adhesives Market Report and Forecast 2024-2032

Asia Pacific Sealants and Adhesives Market Outlook

The Asia Pacific sealants and adhesives market attained a value of nearly USD 25.3 billion in 2023. It is expected to witness a steady growth in the forecast period 2024-2032 and is projected to reach USD 33.3 billion by 2032.     

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Globally, paper, board and related products along with building, construction, civil engineering, and craftsmen are the major end-use industries for adhesives. Construction is also a major end-use segment for sealants along with consumers and DIY. Silicones are the leading sealant types. Reactive systems and water-based adhesives, on the other hand, are the significant adhesive types. Water-based and hot-melt adhesives are preferred for applications in paper and board, among other related materials. Adhesives are used for various paper and board bonding applications like lamination of sheets, constructions of corrugated boxes, and building packaging materials for a diverse number of consumer products like books, paper towels, and toilet rolls along with large industrial tubes utilised by manufacturers. In construction, a significant application sector for both sealants and adhesives, adhesives find their use in laying tiles and carpets, roofing, flooring, wall coverings, drywall lamination, and timber jointing, among other related applications.

The Asia Pacific is one of the largest markets for sealants and adhesives driven by the rapidly developing emerging economies within the region. China is the leading market in the region accounting for over a half of the regional industry. Japan and India are also some of the significant markets in the Asia Pacific. The healthy growth of the construction industry in China and India is expected to aid the sealants and adhesives market. The global construction industry is projected to attain USD 15.5 trillion by 2030, with China and India along with the US accounting for almost 57% of the expected growth. The infrastructural growth in China is being driven by the expansions planned in the railway network by the China State Railway Group (CR). In India, the construction sector is buoyed by the planned investments into expanding the urban infrastructure and building affordable housing by the government.

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Market Segmentation

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Market Analysis

The Asia Pacific sealants and adhesives market is being driven by the growing infrastructural developments taking place in the region due to the rapid urbanisation. Nearly 60% of the global population resides in the Asia Pacific region. By 2040, the population of the cities in the region is expected to exceed 2 billion. The construction industry is, thus, finding impetus for its growth in the rapidly rising population. The sealants and adhesives industry will find further impetus in the rising construction of smart cities in the Asia Pacific. The investments in smart city technologies is expected to attain USD 45.3 billion in 2021 (excluding Japan).

The healthy growth of the economy in the region is also aiding the market growth, as it is driving the revenue growth of the various end-use sectors of sealants and adhesives like the construction and automotive sector. Between 2020 to 2024, the GDP in the emerging nation in the country is expected to grow at an annual average of 6.1%. India is expected to witness a robust economic growth in the coming five years, with its economy growing at an average of 7.3%.

The Asia Pacific sealants and adhesives market is also being propelled forward by the rising demand from the growing packaging industry in the Asia Pacific. The packaging industry in the region is being driven by the rapid growth of e-commerce platforms and the rising consumption of packaged goods across food and beverage, and personal care sectors. Sealants and adhesive are also finding extensive use in the automobiles industry, especially in the manufacturing of light-weight vehicles. The thriving automotive market in China and India will aid the growth of the Asia Pacific sealants and adhesives.

Competitive Landscape

The report provides a detailed analysis of the key players in the Asia Pacific sealants and adhesives market, covering their market share, capacity, and latest developments like mergers, acquisitions, and investments, plant turnarounds, and capacity expansions:

• Henkel AG & Company, KGaA
• H.B. Fuller Company
• Arkema Inc.
• Sika AG 
• Wacker Chemie AG
• Saint-Gobain S.A
• Evonik Chemicals Limited
• Pioneer Adhesives Inc.
• Shandong Evergain Adhesive Co., Ltd,
• ITLS (H.K.) Co., Limited.
• Pidilite Industries Limited
• Others

The comprehensive report by EMR looks into the manufacturing process of sealants and adhesives and analyses the costs involved. It assesses the market based on the Porter’s five forces model. A SWOT, as well as the value chain analysis, has been provided, as well.