The global adhesive and sealant industry is involved in manufacturing the world’s most versatile bonding agents. While adhesives and sealants are chemically similar and have a similar technology base, their functionality is different. Adhesives represent the larger share of the global adhesives and sealants market, at almost 75% of the overall market. Adhesives dominate the market not only in terms of market share but also in terms of innovation, reports Markets and Markets. Sealants account for the remaining 25% of the market.
The global adhesives and sealants industry is predicted to witness strong growth over the coming years, developing further to capture the market’s vast potential. Technology developments are fuelling growth in the adhesives and sealants industry. Asia-Pacific dominates the market with regard to both volume and revenue.
Market Segments
Synthetic resin and rubber adhesives represented the leading market segment within the adhesive and sealant industry in 2011, exceeding the $10 billion mark, reports SBI. Natural base glues and adhesives have not enjoyed the same type of growth, remaining low from 2006 onwards to stay under $1.5 billion.
Regional Market Share
- In Russia, as in many nations around the world, construction and reparation projects rely heavily on sealants and foam, reports IndexBox. Builders need sealants and foams for a wide range of activities, including the installation of windows and doors, general installation and repair tasks, and sealing and filling various types of joints. While demand for sealants and foam will continue in the medium term, consumption of these goods has begun to slow and market growth it is expected to decelerate in Russia. December 2011 saw the end of talks addressing the country’s accession to the WTO. This is likely to play a determining role in the future of the sealants and foam sector.
- In the US, demand for medical adhesives and sealants is increasing due to the number of surgical interventions required to cater to the now-aging baby boomer population. Frost & Sullivan cites Cyanoacrylates and PEG as the two key polymers with the greatest potential for market growth. They offer greater potential due to their ease of use and biological properties. Popular sealant types include synthetic sealants, fibrin sealants and collagen-based sealants. Medical adhesives and sealants that are durable, nonirritating and biocompatible are taking off in direct-patient applications. Compared with other medical sectors, product life cycles are long, which lends a degree of stability to the market. Target-specific applications of adhesives allow the sector to tailor products to fit specific purposes like vascular sealants and spine sealants. Demand for sealants used to prevent wound infection and spur the healing process continues to rise. Market growth in this sector is fuelled by ease of use, product safety, and biocompatibility. Overall, Global Industry Analysts predicts the US medical adhesive and sealant market will be worth close to $2.5 billion by 2017.
Industry Leaders
Leading names currently operating in the global adhesive and sealant industry include Adhesives Research, Sybron Dental Specialties, DENTSPLY, Johnson & Johnson, Procter & Gamble, Den-Mat, Berry Plastics, 3M, Protein Polymer Technologies, Kerr, HemCon Medical Technologies, Ethicon, Baxter, Aveva Drug Delivery Systems, HARTMANN, Covidien and CryoLife.
Market Outlook
The global market for adhesives and sealants is fuelled by various factors, including a versatile range of applications spanning several different sectors. Strong demand from Asia-Pacific also continues to spur growth in the industry. Advances in technology are facilitating the growing number of niche applications for adhesives and sealants currently being explored. Markets and Markets underlines the importance of these new applications to meet consumer demand and provide manufacturers with new opportunities.
As the prices of raw materials continue to rise, however, the market is witnessing an increasing degree of volatility. The use of solvent-borne adhesives and sealants is likely to be curbed by initiatives launched by regulatory authorities such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and EPA (Environmental Protection Agency). Product innovation remains the way forward for manufacturers under pressure from restrictive regulations and rising raw materials prices.
Leading Industry Associations
