Adhesives and sealants are made from a mixture of resins, additives, and solvents. It has strong mechanical and tensile strength, making it a viable fastener for high-pressure situations, and the combination of adhesives and sealants depends entirely on its end use. The adhesive is used to bond two surfaces together indefinitely and with varying amounts of tension. While sealants usually have less strength compared to glue, they are often used to fill gaps and resist the relative movement of the surfaces to which they are applied. Sealants, despite not having great strength, convey a number of properties. They seal top structures to the substrate and are particularly effective in waterproofing processes by keeping moisture out (or in) the components in which they are used. They can provide thermal and acoustical insulation and may serve as fire barriers. According to a report titled "South Korea Adhesive & Sealant Market Overview, 2027," published by Bonafide Research, adhesives and sealants are expected to grow at a significant rate during the forecast period. Among adhesives and sealants, adhesives have the majority of the market share. However, the sealant market is expected to grow at a healthier rate than adhesives during the forecast period. In adhesive formulation technology, water-based adhesives lead the market due to the fact that they possess a variety, flexibility, and economic practicality. Water-based adhesives set quickly and form powerful bonds that, unless exposed directly to excess water or moisture, remain strong for an extended period of time. During the forecast period, hot-melt adhesives are expected to grow at a lucrative rate due to the increasing use of polyester hot-melt adhesives in the textile and fabric industries. Moreover, the use of hot melt adhesive products in the dashboard of automotive vehicles is increasingly becoming popular. These products find applications in the dashboard, wherein they offer reduced vibrations coupled with greater insulation from the sound. The increased emphasis on providing soundproof rides is expected to drive product penetration in the automotive industry during the forecast period. In adhesives by application, paper, cardboard, and packaging hold the highest market share due to increasing online shopping with rising internet technologies and web applications. Moreover, the demand for cosmetics and food and beverage products is expected to grow due to the growing population, demand for quality products, urbanization, and consumers' inclination toward technology, hence, fuelling the demand for the packaging industry. During the forecast period, electrical and electronics are expected to grow at a significant rate due to increasing demand for the miniaturization/automation of mobile devices, touch screens, displays, and medical electronic systems. The consumption of electrical adhesives is increasing as the demand for these products grows. In sealants by resin type, silicone sealant is the most commonly used sealant in factors like bonding glass, ceramics, metals, plastic, concrete, and bricks. They are also used in aerospace and engineering. The main applications of silicone sealant are its construction properties and inertness. Because of increased urbanization, the demand for housing has increased, giving rise to the building and construction industry. Due to this, there is an increase in the use of sealants. The application of adhesives and sealants releases large amounts of chemical gases that are considered harmful and dangerous when inhaled. The regulations on their use are becoming stricter. In addition, the growing awareness of consumers about health and the environment has become a major concern for manufacturers. These factors may act as restraints for the growth of the adhesives and sealants market. The global healthcare sector has expanded significantly over the past few years. As a result, all associated industries flourished, including medical adhesives. Medical adhesives have thrived as new treatments and technologies have emerged. On the other hand, the expanding healthcare industry will benefit and drive the growth of the medical adhesives market. Covid 19 The COVID-19 outbreak has disrupted most supply chains across the country. Certain adhesives have witnessed strong demand due to their applications in the paper and packaging industries as well as healthcare. The shutting down of automotive companies where adhesives and sealants are used as a prime bonding material for hoods, grills, and interior panels, has temporarily hampered the growth of the adhesives and sealants market. Furthermore, falling consumer income and international travel restrictions led to a decrease in demand for adhesives and sealants. ? Considered in this report: • Geography: South Korea • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • South Korea Adhesives & Sealants market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type in the report: • Adhesive • Sealant By Formulating Technology in the report: • Water-based • Solvent-based • Hot-melt • Reactive & Others By Resin Type in the report: • Silicone • Polyurethane • Acrylic • Polyvinyl Acetate • Other Sealant Product By Application in the report: • Paper, Board, and Packaging • Buildings and Construction • Automotive & Transportation • Woodworking and Joinery • Footwear and Leather • Healthcare • Electrical and Electronics • Consumer & DIY • Other End-user Industries The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Adhesives & Sealants Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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