Europe Adhesives & Sealants Market Size Flourishing to Reach USD 13 Billion by 2029

Published | 18 February 2023

Europe adhesives & sealants market is expanding due to growing demand from country-wide infrastructure redevelopment and recovery projects in Türkiye and Ukraine and expanding healthcare infrastructure across the region.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe adhesives & sealants market size at USD 8.34 billion in 2022. During the forecast period between 2023 and 2029, the Europe adhesives & sealants market size is projected to grow at an impressive CAGR of 6.37% reaching a value of USD 12.78 billion by 2029. The demand for various electrical and electronic gadgets, including tablets, smartphones, laptops, and others, where adhesives and sealants are frequently used to attach various components, has expanded due to increased technological breakthroughs and R&D efforts. This is one of the main factors driving the market for adhesives and sealants. In the building and construction industry, where adhesives and sealants are frequently used to patch cracks, holes, and seal joints, factors like growing urbanization, population growth, and higher government investment have also contributed to this sector's tremendous rise. As a result, adhesives and sealants are now more widely used in the building and construction industries, which is fueling the market's expansion.

Europe Adhesives & Sealants Market - Overview

An adhesive is a chemical mixture that joins two surfaces together to form a single unit, whereas a sealant is a semisolid material used to prevent fluid leakage. Adhesives are ideal for holding and bonding applications due to their high shear and tensile strength. Sealants, on the other hand, are used to fill gaps and resist substrate movement. Adhesives and sealants are made using similar chemicals and technologies and are used in a variety of industries such as paper packaging, woodworking, footwear manufacturing, building & construction, electrical & electronics, automotive, and many others.

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Opportunity: Massive country-wide urban redevelopment programs in Türkiye and Ukraine

Europe adhesive & sealants market is expected to gain from significant opportunities provided by the massive infrastructure redevelopment projects in earthquake-hit Türkiye and war-ravaged Ukraine.

In Türkiye, analysts estimated that the urban redevelopment across the country post the earthquake would provide huge opportunities for the construction and related industries in total investment of more than USD 250 billion. On February 06, 2023, a 7.8-magnitude of earthquake hit Türkiye and Syria, killing tens of thousands of people and severely damaging infrastructure in cities and villages across its fault line. The President of Türkiye announced that the government would engage in a comprehensive construction program to rebuild cities with safety and sustainability.

In Ukraine, Russia’s war in the country has been continuing for more than a year now. Consequently, infrastructure across Ukraine has been severely damaged. In September 2022, Ukraine government, the European Commission, and the World Bank, along with their partners estimated the cost of Ukraine’s reconstruction and recovery would be about USD 350 billion. As the war continues, the cost is anticipated to escalate.

Massive redevelopment and recovery projects in Türkiye and Ukraine are expected to provide lucrative growth opportunities for construction and supplementary industries. It, in turn, is projected to aid the growth of Europe adhesive & sealants market during the forecast period between 2023 and 2029 and beyond.

Impact of COVID-19 on Europe Adhesives & Sealants Market

The construction and automobile industries were adversely affected by the COVID-19 pandemic. Top corporations attempting to diversify their portfolios did not fare well due to the lack of raw materials and logistical challenges. Building, construction, and irrigation projects, among others, have all temporarily been put on hold or abandoned. However, the demand for adhesive goods started to increase in the paper and packaging sectors as well as the healthcare sector. The restoration of economic activity could spur industry expansion in both emerging and established economies.

Europe Adhesives & Sealants Market – By Application

Europe adhesives & sealants market is segmented by application into Paper & Packaging, Buildings and Construction, Automotive & Transportation, Electrical and Electronics, and Others. The construction industry is expected to provide a plethora of opportunities in the sealant industry. This industry sector is undergoing rapid technological and architectural advancement. Airports, mining facilities, transportation routes, and even residential projects are undergoing extensive transformations to meet changing standards and specifications.

Competitive Landscape

Europe adhesives & sealants market is fiercely competitive. Prominent players in the market include 3M, Arkema Group, Avery Dennison Corporation, Beardow Adams, Dow, Dymax Corporation, H.B. Fuller Company, Henkel AG & Co. KGaA, Huntsman International LLC, Jowat AG, Mapei Inc., Tesa SE (A Beiersdorf Company), MUNZING Corporation, Sika AG, and Wacker Chemie AG.  These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Europe adhesives & sealants market.

Don’t miss the business opportunity in Europe Adhesives & Sealants Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Adhesives & Sealants Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Adhesives & Sealants Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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