Global Adhesives and Sealants Market

Global Adhesives And Sealants Market Size, Share, Growth Analysis, By Product Type(Milk Formula, Dried Adhesives), By Distribution Channel(Drugstores/ Pharmacies, Supermarkets/Hypermarkets) - Industry Forecast 2023-2030


Report ID: SQMIG30I2361 | Region: Global | Published Date: February, 2024 | Pages: 245 | Tables: 68 | Figures: 75

Global Adhesives And Sealants Market Insights

Adhesives And Sealants Market size was valued at USD 63.66 billion in 2021 and is poised to grow from USD 67.48 billion in 2022 to USD 114.01 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

The adhesives and sealants market is being driven by the rising demand for lightweight, low-carbon-emitting cars. The adoption of new production technologies and the use of new materials in the development of adhesives and sealants are also contributing to market growth. The building sector is another major driver of the market, as adhesives and sealants are used in a variety of end use industries, including tiling, mounting drywall, fittings, ceiling end use industries, bathroom floor coverings, and molding.
 
Stringent environmental regulations are also having an impact on the market, as manufacturers are being forced to focus on creating environmentally friendly adhesives. Volatile organic compounds (VOCs) are created during the production of adhesives and sealants and can lead to a variety of health problems. As a result, there is a growing demand for VOC-free adhesives and sealants. The adhesives and sealants industry is a large and diverse market, and there are a number of different manufacturers that produce a wide range of products. The adhesives and sealants industry is expected to continue to grow in the coming years, as the demand for these products continues to rise. The growth of the automotive and building sectors, as well as the increasing focus on environmental sustainability, are all expected to contribute to market growth.

US Adhesives And Sealants Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 63.66 billion

Largest Segment

Acrylic

Fastest Growth

Acrylic

Growth Rate

6% CAGR

Global Adhesives and Sealants Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Adhesives and Sealants Market By Product ($ Bn)
Global Adhesives and Sealants Market By Product (%)

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Global Adhesives And Sealants Market Segmental Analysis

Global Adhesives and Sealants Market is segmented on the basis of product, technology end use industry, and region. By product, the market is segmented into Acrylic, PVA, Polyurethanes, Styrenic block, Epoxy, EVA, and other products. By technology, the market is segmented into Water-based, solvent-based, hot-melt, reactive, and other technology. By end use industry, the market is segmented into Building and construction, paper, board, and packaging, transportation, woodworking and joinery, footwear and leather, healthcare, electrical and electronics, and other end-user industries. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. 
   
Adhesives And Sealants Market Analysis By Product 

Among the various product segments in the global adhesives and sealants market, the acrylic segment takes the lead with an impressive revenue share of 36.5% in 2022. This dominance can be attributed to several factors that make acrylic adhesives the go-to choice for a wide range of industries. The acrylic segment is expected to continue its remarkable growth trajectory due to the surge in construction activities and substantial investments in infrastructure projects. The construction of chemical/industrial process plants, stadiums, bridges, museums, concert halls, research facilities, and medical buildings creates a strong demand for acrylic adhesives. These adhesives provide exceptional bonding strength and durability, making them indispensable for joining various substrates in construction applications.

Polyurethane adhesive products, on the other hand, are the fastest-growing segment in the adhesives and sealants market. With their superior properties such as fast curing, good abrasion and chemical resistance, and excellent bond strength across diverse substrates like metal, plastic, rubber, wood, and glass, polyurethane adhesives are gaining significant traction. These adhesives leverage reactive technology and incorporate polymers with urethane linkages, resulting in solid and low-viscosity materials that offer quick curing times. These advantages position polyurethane adhesives as a preferred choice across industries where speed, strength, and versatility are critical. Driven by these factors, the acrylic segment maintains its dominance in the market, while the polyurethane segment continues to surge ahead with its rapid growth. The projected expansion of the acrylic segment is bolstered by the increasing construction activities and infrastructure investments, offering ample opportunities for revenue growth. Simultaneously, the exceptional properties and broad applicability of polyurethane adhesives make them an attractive option for industries seeking reliable bonding solutions.

Adhesives And Sealants Market Analysis By End User Industry

The largest segment in the adhesives and sealants market is the Building and Construction industry. With a substantial market share, this segment dominates due to the indispensable role adhesives and sealants play in the construction of buildings and infrastructure worldwide. The demand for high-quality adhesives and sealants in this sector is primarily driven by the rapid urbanization and infrastructure development taking place globally. The Building and Construction industry relies heavily on adhesives and sealants for a wide range of applications, including flooring, roofing, insulation, panel bonding, and structural bonding. The significance of this segment is further emphasized by the fact that the construction industry is experiencing significant growth, with new projects and renovations occurring across the globe. By leveraging adhesives and sealants, builders and construction professionals can enhance the durability, strength, and overall performance of structures. As a result, the demand for adhesives and sealants in this segment is projected to maintain a steady upward trajectory.

On the other hand, the fastest-growing segment in the adhesives and sealants market is the Electrical and Electronics industry. In today's technology-driven world, this sector is witnessing remarkable expansion due to increasing consumer demand for electronic devices, advancements in communication technologies, and the proliferation of smart devices. Adhesives and sealants play a critical role in the production and assembly of electronic components, ensuring optimal performance, protection against moisture, electrical insulation, and mechanical stability. The Electrical and Electronics industry relies on adhesives and sealants for applications such as bonding and sealing circuit boards, encapsulating electronic components, and securing delicate parts. The growth potential of this segment is further amplified by the constant innovation and introduction of new electronic devices and gadgets in the market. As consumers seek sleeker, more compact, and technologically advanced products, manufacturers need adhesives and sealants that offer superior bonding properties, thermal management capabilities, and resistance to environmental factors.

Global Adhesives and Sealants Market By Product, 2021 (%)

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Global Adhesives And Sealants Market Regional Insights

The Asia Pacific region has emerged as a dominant force in the adhesives and sealants market, commanding a significant revenue share of 41.2% in 2022. Although the COVID-19 pandemic had a substantial impact on industries like textile & garments, construction, and automotive in 2020, the market has exhibited a positive recovery since the third quarter of that year and gained momentum throughout 2021. For instance, the pandemic led to a decline in textile trade between China and India, with a year-on-year decrease of 12.4% in the first two months of 2020 compared to the previous year. However, as the market rebounded, the demand for adhesives and sealants in the Asia Pacific region has steadily risen, driven by factors such as infrastructure development, manufacturing activities, and a recovering export trade.

Moving to the Middle East & Africa, the Gulf Cooperation Council (GCC) countries play a crucial role in driving the growth of the adhesives and sealants market in the region. With growing construction activities in the GCC region, there is a significant increase in the demand for these products. Despite the housing sector's previous underperformance due to declining oil prices and economic slowdown, the construction industry is projected to perform well in the coming years. Investments in residential construction, energy, and transport infrastructure are expected to fuel the demand for adhesives and sealants in the GCC region. In Central & South America, government initiatives aimed at economic recovery are anticipated to fuel infrastructural developments, consequently driving the demand for adhesives and sealants. Countries such as Argentina, Colombia, and Peru are expected to witness growth in the construction industry during the forecast period. Peru, in particular, has experienced a boost in its economy due to increased construction and related business activities in the country. This positive trajectory in the construction industry is set to contribute to the rising demand for adhesives and sealants in Central & South America.

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Global Adhesives And Sealants Market Dynamics

Adhesives And Sealants Market Drivers

Growing Demand from Various End-Use Industries

  • The global adhesives and sealants market is driven by the increasing demand for industrial sealants and adhesives across various industries such as automotive, construction, packaging, electronics, and healthcare. These sectors require reliable bonding and sealing solutions to enhance product performance, durability, and safety.

Technological Advancements

  • Continuous advancements in adhesive and sealant technologies, such as the development of high-performance and eco-friendly formulations, are driving market growth. Manufacturers are investing in research and development activities to introduce innovative products with improved properties, such as enhanced bond strength, flexibility, and resistance to extreme temperatures, chemicals, and environmental conditions.

Adhesives And Sealants Market Restraints

Volatile Raw Material Prices

  • Fluctuations in the prices of raw materials used in the manufacturing of adhesives and sealants can pose a significant challenge for manufacturers. Price instability can impact the overall production costs and profit margins, leading to increased product prices or reduced profitability.

Environmental and Regulatory Concerns

  • Adhesives and sealants often contain volatile organic compounds (VOCs) and other chemicals that can have adverse environmental effects. Stringent regulations and an increasing focus on sustainability drive the demand for eco-friendly alternatives, which may require manufacturers to invest in research and development or modify their existing products to comply with environmental standards.

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Global Adhesives And Sealants Market Competitive Landscape

The global adhesives and sealants market is a highly competitive industry characterized by the presence of numerous key players and a wide range of product offerings. The market is driven by various factors such as increasing demand from industries like automotive, construction, packaging, and healthcare. Major players in the market dominate the market through their strong distribution networks, extensive product portfolios, and continuous investments in research and development activities to introduce innovative and sustainable adhesive and sealant solutions. Additionally, strategic partnerships, mergers and acquisitions, and collaborations are common strategies adopted by these players to further strengthen their market position. 

Adhesives And Sealants Market Top Player's Company Profiles

•    Henkel AG & Co. KGaA (Germany)
•    3M Company (US)
•    Sika AG (Switzerland)
•    H.B. Fuller Company (US)
•    Bostik SA (France)
•    Dow Chemical Company (US)
•    Illinois Tool Works Inc. (US)
•    Avery Dennison Corporation (US)
•    Ashland Global Holdings Inc. (US)
•    RPM International Inc. (US)
•    Huntsman Corporation (US)
•    LORD Corporation (US)
•    Mapei S.p.A. (Italy)
•    Wacker Chemie AG (Germany)
•    Arkema S.A. (France)
•    Pidilite Industries Ltd. (India)
•    Jowat SE (Germany)
•    Permabond LLC (UK)
•    Soudal NV (Belgium)
•    Hexion Inc. (US)

Adhesives And Sealants Market Recent Developments

  • In December 2021, Arkema announced its acquisition of Permoseal, a South African company known for manufacturing adhesives used in woodworking, packaging, building, and do-it-yourself projects. This strategic move by Arkema aims to strengthen its position in the thriving industrial, construction, and DIY sectors in South Africa and Sub-Saharan Africa. 

  • In January 2021, Huntsman Corporation successfully finalized the purchase of Gabriel Performance Products (Gabriel). Gabriel is a specialty chemical manufacturer based in North America, known for producing specialty additives and epoxy curing agents specifically designed for the coatings, adhesives, sealants, and composite sectors. The acquisition was made from Audax Private Equity, enabling Huntsman Corporation to expand its portfolio and strengthen its presence in these targeted markets.

Global Adhesives And Sealants Key Market Trends

  • Increased focus on sustainability: Sustainability has become a significant trend in the adhesives and sealants market. Manufacturers are increasingly developing eco-friendly formulations that minimize environmental impact throughout the product lifecycle. This includes reducing VOC emissions, using renewable or bio-based raw materials, and optimizing packaging for recyclability. For instance, water-based adhesives that eliminate or reduce the use of solvents are gaining popularity due to their lower environmental footprint.

Global Adhesives And Sealants Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Adhesives and Sealants Market analyses, the global adhesives and sealants market has been experiencing significant growth and is expected to continue expanding in the coming years. The market analysis suggests that the increasing demand for adhesives and sealants across various industries, including automotive, construction, packaging, and healthcare, is driving this growth. Factors such as rising urbanization, infrastructure development, and growing industrial activities in emerging economies are also contributing to the market's positive outlook. Additionally, the shift towards lightweight and eco-friendly adhesive solutions, advancements in technology, and the increasing adoption of adhesives and sealants in various applications are further fueling market expansion. However, challenges such as volatile raw material prices and stringent environmental regulations may pose as obstacles to market growth.

Report Metric Details
Market size value in 2021 USD 63.66 billion
Market size value in 2030 USD 114.01 billion
Growth Rate 6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Milk Formula, Dried Adhesives, Sealants, Ready-to-Feed Adhesives, Sealants, Other
  • Distribution Channel
    • Drugstores/ Pharmacies, Supermarkets/Hypermarkets, Convenience Stores, Online Channels, Other Distribution Channels
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Customization scope

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  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Adhesives And Sealants Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Adhesives And Sealants Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Adhesives And Sealants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Adhesives And Sealants Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Adhesives And Sealants Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Adhesives And Sealants Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

The workers' compensation code for sealants and adhesives is 2891.

Low-emitting adhesives and sealants are products that emit fewer volatile organic compounds (VOCs) than traditional adhesives and sealants. VOCs are chemicals that vaporize at room temperature and can contribute to air pollution. Low-emitting adhesives and sealants are a growing trend in the construction industry, as more and more builders are looking for ways to reduce their environmental impact.

Some non-toxic sealants and adhesives to use around bearded dragons are silicone sealants, epoxy adhesives, cyanoacrylate adhesives, non-toxic aquarium sealants, and acrylic sealants.

Adhesives And Sealants Market size was valued at USD 63.66 billion in 2021 and is poised to grow from USD 67.48 billion in 2022 to USD 114.01 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

Global adhesives and sealants market is highly fragmented in nature and comprises small-scale and medium-scale companies. Most of them are continuously adopting strategies, such as acquisitions, collaboration, new product launches, and expanding their manufacturing facilities, to strengthen their positions in the market and drive business growth. 'Henkel AG & Co. KGaA', '3M', 'H.B. Fuller Company', 'Sika AG', 'Bostik SA', 'Arkema Group', 'The Dow Chemical Company', 'BASF SE', 'Ashland Global Holdings Inc.', 'Avery Dennison Corporation', 'Huntsman Corporation', 'Illinois Tool Works Inc.', 'Jowat SE', 'Momentive Performance Materials Inc.', 'Pidilite Industries Ltd.', 'RPM International Inc.', 'Royal Adhesives & Sealants LLC', 'SCIGRIP Smarter Adhesive Solutions', 'Wacker Chemie AG', 'Franklin International'

The global adhesives and sealants market is driven by the increasing demand for industrial sealants and adhesives across various industries such as automotive, construction, packaging, electronics, and healthcare. These sectors require reliable bonding and sealing solutions to enhance product performance, durability, and safety.

The switch from internal combustion engines (ICEs) to battery-powered vehicles is something that many nations, including the United States, place a strong emphasis on (EVs). Energy.gov reports that from 308,000 in 2020 to 608,000 in 2021, sales of new light-duty plug-in electric vehicles in the US, including all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), about doubled. And in the years to come, that trend will only intensify.

The Asia Pacific region has emerged as a dominant force in the adhesives and sealants market, commanding a significant revenue share of 41.2% in 2022. Although the COVID-19 pandemic had a substantial impact on industries like textile & garments, construction, and automotive in 2020, the market has exhibited a positive recovery since the third quarter of that year and gained momentum throughout 2021. For instance, the pandemic led to a decline in textile trade between China and India, with a year-on-year decrease of 12.4% in the first two months of 2020 compared to the previous year. However, as the market rebounded, the demand for adhesives and sealants in the Asia Pacific region has steadily risen, driven by factors such as infrastructure development, manufacturing activities, and a recovering export trade.

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