Hybrid Adhesives & Hybrid Sealants Market - Forecast(2023 - 2028)

Hybrid Adhesives & Hybrid Sealants Market Overview

The Hybrid Adhesives & Hybrid Sealants Market size is estimated to reach US$20.7 billion by 2027, after growing at a CAGR of 8.6% during the forecast period 2022-2027. The hybrid adhesives & hybrid sealants are a superior class of adhesives and sealants produced through hybrid technology and combining different classes of polymeric materials and resins such as epoxy cyanoacrylate, epoxy polyurethane, epoxy polysulfide, acrylics, polyvinyl acetate and others. The superior properties of hybrid adhesives & sealants such as good adhesion, mechanical endurance, temperature fluctuations resistance, excellent technical features and negligible VOC emissions are fueling its demand in the major end-use industries, majorly automotive. In addition, rapid advancement in construction & building activities and rapid development in infrastructural projects act as driving factors in the hybrid adhesives & hybrid sealants industry. Moreover, the environmental sustainability and demand for adhesives with negligible VOC emissions are propelling the demand in the market. The covid-19 outbreak resulted in major growth hamper in the hybrid adhesives & hybrid sealants market due to logistics restrictions, closure of building & construction sites, falling automotive production and other lockdown restrictions. However, significant recovery in major end-use sectors such as construction, transportation and other industries post-pandemic are boosting the demand for poly polycarboxylate polymer. Thus, the hybrid adhesives & hybrid sealants industry is anticipated to grow rapidly and contribute to the hybrid adhesives & hybrid sealants market size during the forecast period.

Hybrid Adhesives & Hybrid Sealants Market Report Coverage

The “Hybrid Adhesives & Hybrid Sealants Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Hybrid Adhesives & Hybrid Sealants Industry.

By Resin Type: MS Polymer Hybrid, Epoxy-Polyurethane, Epoxy-Cyanoacrylate, Epoxy-Polysulfide and Others.
By Substrate: Plastics, Metal, Rubber, Composite and Others.
By Application: Flooring, Carpet Laying, Roofing, Façade, Wall Covering, Glazing, Structural Bonding and Others.
By End-Use Industry: Automotive (Passenger Vehicles [PVs], Light Commercial Vehicles [LCVs], Heavy Commercial Vehicles [HCVs]), Building & Construction (Residential, Commercial, Industrial and Infrastructure), Aerospace (Commercial, Military and Others), Marine (Passenger Ships, Cargo Ships and Others), Metallurgy and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle-East (Saudi Arabia, UAE, Israel and Rest of the Middle-East) and Africa (South Africa, Nigeria and Rest of Africa)]

Key Takeaways

• The Asia-Pacific dominates the Hybrid Adhesives & Hybrid Sealants Market, owing to growth factors such as growing construction advancements, a flourishing base for transportation and urbanization, thereby boosting growth in this region.
• The flourishing construction sector across the world is fueling the demand for hybrid adhesives & hybrid sealants for various applications such as roofing, flooring substrates, walls and others, thereby influencing the growth in the hybrid adhesives & hybrid sealants market size.
• The demand for epoxy cyanoacrylate is significantly growing over other types such as epoxy polyurethane, epoxy-polysulfide, MS polymer, acrylics, polyvinyl acetate and others due to excellent adhesion, eco-friendliness, sustainability and corrosion resistance.
• However, the limited opportunities due to a lack awareness of hybrid adhesives & sealants and the hike in raw material prices act as a challenging factor in the hybrid adhesives & hybrid sealants industry.

Figure: Asia-Pacific Hybrid Adhesives & Hybrid Sealants Market Revenue, 2021-2027 (US$ Billion)

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Hybrid Adhesives & Hybrid Sealants Market Segment Analysis – by Resin Type

The epoxy cyanoacrylate segment held a significant Hybrid Adhesives & Hybrid Sealants Market share in 2021 and is forecasted to grow at a CAGR of 8.5% during the forecast period 2022-2027. The demand for epoxy cyanoacrylate is comparatively high over types such as epoxy polyurethane, MS polymer hybrid, acrylics and others due to excellent bonding strength, robust curing and reduced assembly time. Moreover, the epoxy-cyanoacrylate provides fast-fixing and offers excellent bonding across various substrates such as plastics, metal, composites and others, thereby has flourished demand across major industries such as automotive, aerospace, construction and others. Thus, owing to excellent features and utilization in major industries, the epoxy-cyanoacrylate resin segment is expected to grow rapidly during the forecast period.

Hybrid Adhesives & Hybrid Sealants Market Segment Analysis – by End-use Industry

The building & construction segment held a significant Hybrid Adhesives & Hybrid Sealants Market share in 2021 and is forecasted to grow at a CAGR of 8.7% during the forecast period 2022-2027. The hybrid adhesives & hybrid sealants have fuelling demand in the construction sector for roofing, structural bonding, walls, flooring and others due to their environment-friendly features, excellent bonding, adhesion and water resistance. The building & construction industry is significantly flourishing owing to growth factors such as a rise in residential housing and accommodation projects, demand for modular construction projects, commercial building expansion and urbanization. For instance, according to the U.S. Census Bureau, residential construction spending in the US rose from US$797.728 in May 2021 to US$947,272 in May 2022. According to Statistics Canada, the investment in commercial construction rose by 1.7% in December 2021 compared to the previous year. With the increase in construction projects, the applicability of hybrid adhesives & hybrid sealants for roofs structures, glazing, flooring and others is rising, which, in turn, is anticipated to boost the growth prospects for the building & construction industry in the hybrid adhesives & hybrid sealants market during the forecast period.

Hybrid Adhesives & Hybrid Sealants Market Segment Analysis – by Geography

The Asia-Pacific held the largest Hybrid Adhesives & Hybrid Sealants Market share in 2021 up to 45%. The robust demand and lucrative growth scope for hybrid adhesives & hybrid sealants in this region are influenced by the growing construction sector, flourished manufacturing base and fast-paced infrastructural development and urbanization. The construction industry is significantly growing in APAC due to the rise in residential housing and development of commercial spaces, investments in various infrastructural projects and public transportation. For instance, according to the National Investment Promotion & Facilitation Agency, the construction sector in India is projected to reach US$1.4 trillion by 2025. According to World Bank data, the growth of the construction sector in the South Asia region is 6.6% in 2022. According to International Trade Administration (ITA), the construction sector in China is projected to grow by an annual average of 8.6% between 2022 and 2030. With the fast-paced development and production in the construction sector, the applicability of hybrid adhesives & hybrid sealants for carpet layment, wall covering, roofing, façade and others is growing, which, in turn, is projected to boost the growth scope for the Asia-Pacific region in the hybrid adhesives & hybrid sealants market and contribute majorly in the hybrid adhesives & hybrid sealants market size during the forecast period.

Hybrid Adhesives & Hybrid Sealants Market Drivers

Rapid Growth of the Automotive  Sector

Hybrid Adhesives & Hybrid Sealants have major applicability in the automotive sector for others due to their superior features such as negligible volatile organic compounds, adhesion, excellent bonding and corrosion resistance. The lucrative growth in the automotive sector is due to growth factors such as a rise in vehicle production, flourishing vehicle electrification and expansion of automotive manufacturing units. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), the production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and quadricycles increased from 22,655,69 units in 2020-21 to 22,933,230 units in 2021-22 in India. According to the International Organization of Motor Vehicles Manufacturers (OICA), the total automotive vehicle global production increased from 77,621,582 units in 2020 to 80,145,988 units in 2021. With the robust growth of automotive production, the demand for hybrid adhesives & sealants based on polysulfide, elastic adhesives, acrylics, epoxy-polyurethane and others for applicability in glazing, bonding, glass fiber, metal and other substrates and others is rising, thereby propelling the demand and driving the hybrid adhesives & hybrid sealants industry.

Flourishing Growth of the Aerospace Industry

Hybrid Adhesives & Hybrid Sealants have major demand in the aerospace sector for a wide range of applications involving engines, the interior & exterior of aircraft, coatings and others. The aerospace industry is enormously growing owing to growth factors such as rising air traffic, spiking aircraft production and rising income levels. For instance, according to the Federation Aviation Administration (FAA), the US aviation aircraft fleet is expected to grow from 205,870 aircraft in 2021 to 208,790 aircraft by 2041. According to Boeing Market Outlook (BMO), the aerospace sector increased from US$8.5 trillion in the year 2020 to US$9 trillion in 2021. With the rapid increase in aircraft production and demand in aerospace deliverables, the applications for hybrid adhesives & hybrid sealants in aircraft, helicopters and others are rising, which, in turn, is providing major growth scope and driving the hybrid adhesives & hybrid sealants industry.

Hybrid Adhesives & Hybrid Sealants Market Challenges

Limited Industrial Opportunities and Rise in Raw Material Price:

The hybrid adhesives & hybrid sealants have comparatively low acceptance from various end-users. The lack of awareness of product availability and applicability range across various industries is a challenging factor. In addition, the preference for conventional adhesives and sealants is still high owing to the negligence of the benefits offered by hybrid technology. The applicability is limited due to limited market opportunities in developed economies and comparatively low utilization as a a result of lack of awareness of the product. Moreover, the rise in price for raw materials such as polyurethane resin, silicone resin and others is hindering the growth scope and applicability. For instance, Shin-Etsu raised the silicone prices by a 10% increase in April 2022. Thus, owing to high prices for raw materials and poor awareness of the product, the hybrid adhesives & hybrid sealants industry anticipates a major challenge and slowdown.

Hybrid Adhesives & Hybrid Sealants Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Hybrid Adhesives & Hybrid Sealants Market. The top 10 companies in the Hybrid Adhesives & Hybrid Sealants Market are:

1. Wacker Chemie AG
2. Sika AG
3. 3M Company
4. Hermann Otto GmbH
5. Kisling AG
6. American Sealants, Inc.
7. Novachem Corporation
8. Bostik
9. Tremco Illbruck GmbH & Co. KG.
10. Soudal

Recent Developments

• In January 2022, DAP announced the launch of the latest advanced hybrid sealants that outperform the silicone type, combining the best features of polyurethane and silicone, with superior applicability in the extreme temperature range.
• In February 2021, Bostik acquired Polipas, a leader in hybrid-technology sealants and adhesives, intending to provide high-quality sealing and bonding solutions in the construction sector.
• In August 2019, Meridian Adhesives Group, a leader of hybrid adhesives and high-performance specialty epoxy, ethylene vinyl acetate hot melt and others, acquired Epoxies, Etc. to support the growth and expansion of its product portfolio and technology in the adhesives business.

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