in the process of rationalizing its portfolio of 40 brands into a
global Bostik brand along with several local brands. Bostik is
combining this rationalization effort with enhanced marketing
to build awareness around the Bostik brand.
Cost-focused efforts include improving manufacturing and
supply chain efficiencies and building scale through capital investments and M&A. As an example, H.B. Fuller recently set
a target of reducing manufacturing costs by 200 basis points
between 2015 and 2020 through a greater focus on sourcing efforts, manufacturing excellence, and infrastructure investments.
The successful formulators are incredibly savvy when it comes
to balancing growth investments with cost management in order to maximize long-term profitability and competitiveness.
CW: How have VOC and other environmental regulations af-
fected the market for adhesives and sealants?
Hinz: The U.S. EPA and other organizations have worked diligently to institute measures designed to reduce the impact of
VOCs and other potentially hazardous materials on the environment, workers in manufacturing environments, and end users.
The ongoing conversion of solvent-based adhesives to water-based adhesives for certain applications is an example of this
trend. Recent actions like the passage of TSCA reform by the
U.S. House and Senate will serve to formalize efforts to review,
test, and regulate chemicals used in the adhesives and sealants
market. While the underlying health and environmental benefits
of these reform measures are hard to dispute, the higher costs
World Adhesives & Sealants Market is Expected to Reach $66,876 Million by 2022—Allied
Market Research
According to a new report published by Allied Market Research,
titled, “World Adhesives & Sealants Market: Opportunities and
Forecasts, 2015–2022,” the adhesives and sealants market is expected to reach $66,876 million by 2022, growing at a CAGR of
3. 7 percent from 2016 to 2022. Water-based adhesives segment
held about 40 percent share of the global adhesives market in
2015, owing to its viability as an alternative choice to conventional solvent-based adhesive products.
Factors driving the overall adhesives and sealants market are increasing automobile production and surging demand for packaging material. The automotive industry is
gradually replacing welding activities of engine parts assembly with adhesives and sealants products to reduce
the vehicle weight, which in turn increases fuel efficiency.
Strong growth in infrastructure activity is also expected to
drive the growth of adhesives and sealants market. Rapid
urbanization and population growth in developing countries combined with rebounding construction activities in
developed markets of Europe and the U.S. is fueling the
demand for adhesives & sealants products. Stringent regulations on volatile organic chemical (VOC) emission is likely
to restrain the market, as solvent-based adhesives (vinyl
acetate, resins, rubber and others) have the tendency to
react with nitrogen oxides present in the atmosphere to
form ozone, which poses a health threat by causing respiratory problems. The increasing popularity of environment-friendly adhesives over traditional solvent-based and water-based adhesives acts as an opportunity for the market
growth.
Water-based adhesives segment is expected to continue
its lead throughout the analysis period. This is owing to in-
kling of major end-user industries namely packaging and
construction toward water-based adhesive products; as sol-
vent-based adhesive products are highly prone to volatile
organic compound (VOC) emissions. Other factors attribut-
ing to its growth are its user-friendly nature and safety in
the working environment. Water-based adhesives are free of
toxic elements and hazardous organic elements, thus fulfill-
ing the regulations. In the year 2015, the silicone-based seal-
ants segment occupied more than 40 percent of the world
Sealants market revenue due to compatibility, strength,
stability, and durability. Compatibility of silicone sealants in
construction applications has made it the most commend-
able type in the market.
The demand from footwear and medical applications is
increasing at the higher CAGRs of 5. 6 percent and 4. 8 percent, respectively, during the forecast period. This is due to
reasons such as, increasing global footwear production, especially in China & other emerging countries, and growing
Adhesives usage in several medical areas, such as implant,
tissue bonding, dental and wound closure.
Key findings of the study
• Asia-Pacific is expected to continue to lead the
market throughout 2022, followed by Europe.
• Silicone sealants are expected to dominate the sealants market until 2022.
• Paperboard & packaging and building & construction together accounted more than half of the global
Adhesives & sealants demand in 2015.
• Hot melt adhesives market volume is projected to
grow with a higher CAGR of 6.1 percent during the
forecast period.
• China alone contributed to around 20% of the world
adhesives & sealants revenue in 2015.
Asia-Pacific and Europe dominate the adhesives & sealants market, together contributing two-thirds of the world’s
revenue. Globally, Asia-Pacific dominates the building and
construction, packaging, and automotive production, where
adhesives and sealants are majorly applicable. Hence, this
region was the major consumer of adhesives and sealants in
2015, and is expected to maintain this position throughout
the forecast period.
