Rising Adoption of Electric Vehicles Boost Adhesives and Sealants Consumption

The adhesives and sealants industry are projected to generate $66,49.9 million revenue in 2021, advancing at a rate of 4.9% from 2021 to 2030, to generate $102,604.3 million revenue in 2030. It is ascribed to the rising product application in the automotive and construction sector. Moreover, the rising materials demand from the packaging industry, with increasing vehicle safety standards and regulations boosts the industry.

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The bio-based adhesives and sealants are projected to create lucrative opportunities for industry players. Companies are focusing on developing bio-based products for replacing chemical-based products. In addition, companies are adopting advanced technologies for bio-based products to develop sustainability efforts without impacting performance.

The major trend in the adhesives and sealants industry is the worldwide rising traction of electric vehicles. The low usage of adhesives and sealants in electric vehicles is ascribed to the lesser automotive engine-related assemblies.

The rising focus on improving structural integrity with growing demand for reducing the overall weight. The demand for adhesives is projected to fuel the coming years.

Among all technologies, water-borne adhesives capture a significant industry share, accounting for over 50%, of the adhesives industry. These adhesives are created by combining polymers, water, and additives. They suit both porous and non-porous materials. These are massively used in the manufacturing of various products, such as home appliances, books, medical tapes, and packaging.

That is why they have lesser VOCs, and hence do not impact the environment-friendly. In addition, they offer excellent heat resistance, better water resistance, and high tack.

Under the application segment, healthcare is projected to witness the fastest growth in the coming years. Medical-grade adhesives are utilized for bonding products such as needles, catheters, dialysis filters, blood bags, syringes, and tube connectors. The manufacturing of such medical products involves types of synthetic materials, such as PEEK, PE, and PP, and difficult-to-bond plastics.

The Healthcare industry utilizes three types of standard adhesives, such as dissolvable, pressure-sensitive, and electrically conductive adhesives. For instance, pressure-sensitive adhesives are used in medical tapes.

The rising usage of adhesives in various medical applications, such as advanced wound care dressings, dental, skincare, incise and surgical drapes, prostheses, otology, and diabetes care devices is a major driver for the expansion of the industry.

The silicone category captures the largest industry share, accounting for more than 40%. It is ascribed to the chemical properties of silicone adhesives and sealants for withstanding high and low temperatures, high durability, insulating qualities, water repulsion, high thermal stability, and low chemical reactivity.

The major players operating in the industry are Henkel AG & Co. KGaA, Sika AG, 3M Company, Arkema Group, Avery Dennison Corporation, PPG Industries Inc., and Sika AG.

Therefore, the worldwide rising adoption of the EVs boosts the demand for adhesives and sealants.

 

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Why Does Flexible Foam Category Hold Largest Share in Bio-Based Polyurethane Market

Since they have a smaller negative impact on the environment, are less expensive, are readily accessible, and degrade over time, bio-based polyurethane coatings have begun replacing petrochemical-based coatings in large quantities. The global bio-based polyurethane market accounted for $34.8 million in 2021, which is predicted to hit a $63.3 million value by 2030. This is owing to the various applications of this polymer, including footwear, biomedical, packaging, and transportation.

Furthermore, synthetic polyurethane compounds are toxic and non-biodegradable. They also use petrochemical-based raw resources, which are already running out, driving up the price of polyurethane manufacture. The bio-based version's excellent compressive strength, bending strength, tensile strength, and water absorption makes it superior to polyurethanes made from petroleum.

The flexible foam category maintained the biggest share in the bio-based polyurethane market, followed by rigid foam and coatings, sealants, and adhesives. Bio-based polyurethane foam that is flexible is strong, supporting, lightweight, and comfortable. A wide range of consumer and business products, including carpet underlay, mattresses, vehicle interiors, chairs, furniture, packaging, and specialty items, employ the material as cushioning. The fact that this material can be extremely stiff, soft, or even viscoelastic accounts for its popularity.

The packaging is expected to grow at a 9% CAGR in the bio-based polyurethane market. One-component polyurethane adhesives are widely used in printed films, snack food bags, and shopping bags. In addition, polyvinyl chloride is attached to aluminum sheets for medical applications using a customized two-component polyurethane adhesive. Furthermore, due to its low viscosity and low application temperature, hot-melt polyurethane is ideally suited for wrapping applications.

Buildings that are environmentally friendly and cost-effective to operate are gaining popularity. The World Green Building Council, central organizations like the Ministry of Skill Development & Entrepreneurship, the SIDBI, and the GSA in the U.S., as well as state governments and municipal bodies internationally, have all recognized and rewarded green buildings.

Due to their high strength, bio-based polyurethanes are utilized in a variety of applications, including roofing, window and door profiles, pipes and gutters, glazing, cement, insulation, hardwood flooring, sealants & adhesives, heavy-duty rubber flooring, and parquet gluing. Due to their capacity to have high green strength, bond wet/frozen timber, and shear strength, they are also commonly used for ceramic tiles, bathtub surrounds, concrete, and mirrors.

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Why Water-Based Adhesives will Help in the Growth of Construction Adhesives Market?

In 2021, the worldwide construction adhesives market was valued at $9,101.5 million and it is projected to touch $14,541.9 million by 2030. The market will advance at a CAGR of 5.3% from 2021 to 2030 due to surging demand for low volatile organic compound content adhesives, such as water-based adhesives and pressure-sensitive adhesives, along with the expanding construction sector. The growing population all around the world, coupled with the rising disposable income will help this market to grow because people will be able to purchase more residential and commercial spaces. 

Under the segmentation of type, the acrylic construction adhesives ruled the construction adhesives market in 2021 with the revenue, accounting for $3,862.3 million revenue. This is predicted to advance at a CAGR of 5.7% from 2021 to 2030 owing to the robust growth of the construction sector in the MEA and APAC regions. There is a strong preference for this category due to its high water-resistant capacity and strong bonding with substrates. Furthermore, polyurethane adhesives are projected to generate the second-highest revenue in the coming years due to their binding capacity with almost every substrate from wood to plastic.

 In 2021, the APAC construction adhesives market generated approximately 45% of the total revenue the construction adhesives market. This can be ascribed to significant economic growth, swift urbanization, growing population, rising disposable income, and consequently, surging consumer purchasing parity will drive the market. Moreover, increasing government investment in infrastructure and rising demand for low volatile organic compound content adhesives propels the market growth. Approximately, $13 trillion will be invested by China in the construction sector by 2030. 

Nevertheless, North America is predicted to generate the second-highest revenue share in the construction adhesives market, advancing at a CAGR of about 5.1% in the forecast period. This can be credited to technologically-advanced adhesives availability and their integration in cladding applications, insulation, roofing, and waterproofing. Additionally, the surging requirement for adhesives offers cracks prevention on airport runways and highways and safeguard buildings from uncertainties of weather. All of this together will drive market growth in this continent.

Hence, boost in the construction sector, swift urbanization, growing population, and rising disposable income will spur market growth.

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