Post COVID-19, the global adhesives & sealants market size is projected to reach USD 66.8 billion in 2021 from USD 63.5 billion in 2019, growing at a CARG of 2.6%, between 2019-2021. The growth of the medical devices, & personal protective equipment market, personal hygiene products, and the increasing use of single-use disposable medical products are expected to impact the demand for medical & hygiene adhesives positively.
The adhesives & sealants industry in the APAC region is expected to grow at the highest CAGR during the forecast period, owing to their increasing demand from the rapidly growing manufacturing sector in emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for adhesives & sealants in the APAC region. Continuous growth in infrastructure and increase in production of packaging products, medical devises, & PPE are driving the adhesives & sealants industry.
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The key players in the global adhesives & sealants market are Henkel (Germany), H.B. Fuller (US), Sika (Switzerland), Arkema (France), Huntsman Corporation (US), 3M Company (US), Ethicon, Inc. (Johnson & Johnson Services) (US), Illinois Tool Works Inc. (US), Avery Dennison Corporation (US), DowDuPont Inc. (US), Wacker Chemie Ag (Germany), RPM International Inc. (US), Baxter International Inc. (US), Akzo Nobel N.V. (Netherlands), and PPG Industries (US). Lord Corporation (US), Adhesives Research Inc. (US), Delo Industrie Lebstoffe GMBH & Co. KGAA (Germany), DYMAX Corporation (US), Mapei Corporation (Italy), Meridian Adhesives Group (US), Master Bond Inc. (US), Soudal Group (Belgium), Pidilite Industries (India), Jowat SE (Germany), Franklin International (US), and Ashland Inc. (US). These players have adopted various strategies, such as merger & acquisition and investment & expansion between 2016 and 2019, to enhance their market shares and expand their global presence.
Ethicon, Inc. (Johnson & Johnson Services) (US) is a global surgical product company engaged in the manufacturing and development of products catering to areas of wound management, plastic surgery, bleeding management, hernia management, catheter infection control, and women’s health. The company operates through three business units, namely, consumer, medical devices, and pharmaceutical. It conducts business in 52 countries; however, priority markets are the US, the UK, Brazil, China, France, Germany, India, and Switzerland, among others. The company manufactures medical adhesives under the medical devices segment and markets them under brands, Dermabond and Vistaseal. Ethicon’s strength is built on various factors, such as formulating technology, strategic raw material sourcing, and its global network of operations in over 50 countries. The company, in conjunction with its parent company, Johnson & Johnson, aims to increase its presence in emerging countries such as India, Brazil, and Indonesia. In December 2019, Ethicon launched a new sealant named VISTASEAL. This sealant can be used in hemostasis to manage bleeding during surgery. It is a first-of-a-kind fibrin sealant designed to be sprayed without gas in open as well as minimally invasive procedures. It comes in pre-filled syringes.
Henkel (Germany) is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes); laundry & home care (household cleaning products, such as laundry detergent and dishwashing liquid), beauty care (beauty & oral care products, such as shampoos, toothpaste, hair colorants, and shower products), and corporate. The adhesive technologies segment of the company is a leader in the adhesives market across various end-use industries, globally. Moreover, the company manufactures medical adhesives under this segment and markets them under the brand name Loctite. Henkel has operations in North America, Latin America, APAC, Europe, the Middle East, and Africa. The company focuses on R&D and investment to maintain its leading position in the adhesives business. In June 2019, Henkel introduced a new product named Loctite Liofol LA 2798. It can be used in various applications, including pet food, medical applications, and convenience products (fatty foodstuffs, oil fatty acids, and alcoholic contents).
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