Saudi Arabia Adhesives and Sealants Market
Saudi Arabia Adhesives and Sealants Market to expand at a CAGR of 5.17% during 2023-2029
Published | 10 February 2023
Saudi Arabia adhesives and sealants market size is flourishing owing to increased population, rapid urbanization, increased spending, and increased popularity of adhesives and sealants in the building construction sectors.
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Saudi Arabia adhesives and sealants market size was estimated at USD 2.5 billion in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia adhesives and sealants market size is projected to grow at a CAGR of 5.17% reaching a value of USD 3.54 billion by 2029. Demand for a variety of electrical and electronic devices, such as tablets, smartphones, laptops, and others, where adhesives and sealants are frequently used for bonding various components, has increased due to technological advancements and R&D activities. This is one of the primary factors driving the adhesives and sealants market. In the building and construction industry, which has seen significant growth due to factors such as population growth, urbanization, and increased government spending, adhesives and sealants are frequently used to fill cracks, openings, and seal joints. As these products' popularity in the building and construction industries has grown, so has the market for adhesives and sealants.
Saudi Arabia Adhesives and Sealants Market – Overview
An adhesive is a chemical mixture that joins two surfaces to form a single unit, whereas a sealant is a semisolid substance used to stop fluid leakage. Adhesives have high shear and tensile strengths, making them perfect for applications involving holding and bonding. On the other hand, sealants are used to fill gaps and prevent substrates from shifting to one another. Adhesives and sealants are produced using comparable chemicals and technologies in a variety of industries, including paper packaging, woodworking, footwear manufacturing, building & construction, electrical & electronics, automotive, and others.
Adhesives and sealants are in high demand in the building and construction industries.
Rising population and urbanization are driving the residential construction segment in developing regions. There is a growing demand for permanent housing in Saudi Arabia, which is driving up demand for adhesives and sealants. Carpet, tiling, wallpaper, and exterior insulation systems all use adhesives and sealants. Adhesives and sealants are also used to hold curtain wall panels and insulating glass units in place.
Use of chemicals in the production of adhesives and sealants that is excessive
Many chemical gases, including some that are hazardous to breathe when inhaled, are released by adhesives and sealants. As a result, there are stricter regulations governing their use. Growing consumer awareness of environmental and health issues has become a major concern for manufacturers. The industry is facing tough challenges as a result of the regulatory environment. Environmental organizations are taking several actions and placing more barriers and limitations on manufacturers.
Impact of COVID-19 on Saudi Arabia Adhesives and Sealants Market
The COVID-19 outbreak has disrupted the majority of supply chains. A manpower and resource shortage has contributed to a logistical issue. One of the raw materials that have been redirected to other sectors of the economy so they can produce sanitizers and other essential goods is alcohol. The second quarter of 2020's business has suffered from a lack of market consumers. Certain adhesive products are in high demand because they are used in the paper and packaging industry, as well as the healthcare industry. It was anticipated that the consumption of sealant would decline by a double-digit percentage in 2020 as a result of the lockdown's extension and other restrictions, which have harmed building and construction activities.
Saudi Arabia Adhesives and Sealants Market – By Technology
Saudi Arabia adhesives and sealants market is divided into Solvent-based, Water-based, Hot melt, Reactive, and others. In terms of volume, the reactive & others segment accounts for the majority of the market. Reactive technology-based products offer numerous advantages and are thus driving segment growth. These advantages include increased heat resistance, faster manufacturing speeds, and strong adhesion properties to a variety of substrates. The hot-melt segment is expected to grow rapidly between 2023 and 2029. Polyester hot melt adhesives have become increasingly popular in the textile and fabric industries over the last decade. The product has seen increased use in the cotton, wool, and fabrics sub-sector in recent years. The product greatly improves
Saudi Arabia adhesives and sealants market is fiercely competitive, with 3M Company, Reckitt Benckiser Group Plc, Ashland Inc., Avery Denison Corporation, H B Fuller, Henkel AG, Sika AG, Pidilite Industries, Huntsman, and Wacker Chemie AG. 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 Saudi Arabia adhesives and sealants market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Adhesives and Sealants Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Adhesives and 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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- Saudi Arabia Adhesives and Sealants Market - By Adhesives (Technology (Solvent–based, Water–based, Hot Melt, Reactive & Others), Product (PVA (Polyvinyl alcohol), EVA (Ethylene–vinyl acetate), Polyurethanes, Acrylic, Styrenic block, Epoxy, Others), Application (Paper & Packaging, Consumer & DIY, Building & Construction, Furniture & Woodworking, Automotive & Transportation, Others)); By Sealants (Product (Silicones Polyurethanes, Acrylic, Polyvinyl Acetate, Others), Application (Construction, Automotive, Packaging, Assembly, Consumers, and Others)), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: February 2023
High demand for adhesives and sealants in the construction and building sector, increasing R&D activities, growing need for environmentally safe and non-toxic adhesives, and technology advancements could boost the growth of Saudi Arabia Adhesives and Sealants Market during the forecast period between 2023 and 2029.
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