Adhesive and Sealants Market Size Expected to Garner USD 103 Billion by 2030 growing at 5.8% CAGR - Exclusive Report by Acumen Research and Consulting
The Global Adhesive and Sealants Market Size is predicted to reach USD 103 Billion by 2030 from USD 62.9 Billion in 2021, at a CAGR of 5.8% between 2022 and 2030, as per the Acumen Research and Consulting
The adhesive and sealants market is a rapidly evolving industry with a high demand for innovative and versatile products. The trend toward the use of eco-friendly and sustainable materials in the manufacturing process is a major driving force in this market. Companies are investing in research and development to produce adhesives and sealants with improved performance and reduced environmental impact.
The increasing demand for lightweight and strong bonding materials in various end-use industries such as construction, packaging, and consumer goods is also contributing to the growth of the adhesive and sealants market. The rise of e-commerce and online shopping has led to an increase in the demand for packaging materials, further fueling the growth of the market. The development of new technologies such as nanotechnology and biotechnology is also creating new opportunities for the market.
Adhesive and Sealants Market Statistics
- Global adhesive and sealants market revenue collected USD 62.9 Billion in 2021, with a 5.8% CAGR between 2022 and 2030
- Asia-Pacific adhesive and sealants market value gathered more than USD 22.5 Billion in 2021
- By adhesive application, construction sector capture over 28% of total market share in 2021
- According to the US Census Bureau, the construction industry has grown by 8.9% in 2021 compared to the previous year
- Growing demand for sustainable and eco-friendly products, fuels the adhesive and sealants market size
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Adhesive and Sealants Market Trends
The adhesive and sealants market has undergone significant changes in recent years due to advancements in technology and a growing demand for high-performance, eco-friendly, and versatile products. With the increasing trend toward automation, the use of adhesives and sealants in various industries has increased, leading to an increased demand for high-tech adhesives and sealants. Additionally, the increasing popularity of packaging and construction activities, coupled with the growing need for effective and efficient bonding and sealing, has also been driving the expansion of this market.
The growth in the construction industry, especially in emerging economies, has led to significant demand for adhesives and sealants. The use of adhesives in the construction industry has increased as they provide a strong and durable bond, as well as improved insulation, reducing energy consumption and costs. The demand for lightweight and high-strength adhesives in the automotive industry is also driving the market's growth.
The packaging industry is another significant end-user of adhesives and sealants, with demand expected to increase due to the growing demand for packaged products. The rise in e-commerce and the increasing demand for packaging products have led to the growth of the packaging industry, which, in turn, has driven the global market growth.
Adhesive and Sealants Market Segmentation
Acumen Research and Consulting has segmented the global adhesive and sealants market by adhesive product, adhesive technology, sealant product, adhesive application, sealant application, and region.
- By adhesive products, the industry is categorized into eva, acrylic, polyurethanes, epoxy, PVA, styrenic block, and others.
- By adhesive technology, the market is divided into the water-based, solvent-based, hot melt, and reactive & other.
- By adhesive application, the industry is split into automotive, pressure-sensitive applications, construction, footwear, packaging, furniture, and others.
- By sealant products, the market is bifurcated into polyvinyl acetate, silicones, acrylic, polyurethanes, and others.
- By sealant application, the market is segmented into consumers, construction, pressure-sensitive tapes, automotive, packaging, assembly, and others.
- By region, the market is classified into Europe, Latin America, Asia-Pacific, North America, and the MEA.
Adhesive and Sealants Market Regional Overview
Geographically, the Asia-Pacific region holds the largest share of the adhesive and sealants Market. This growth is due to the growing demand from various end-use industries, increasing urbanization, population growth, and the presence of large economies and skilled labor in the region. The region has experienced significant growth in the construction, packaging, and automotive industries, which has driven the demand for adhesives and sealants. Additionally, the increasing urbanization and population growth in the region have led to a surge in the construction of residential and commercial buildings, which has increased the demand for adhesives and sealants. The Asia-Pacific region is home to some of the largest economies in the world, such as India, China, and Japan, and these countries have been experiencing significant economic growth in recent years.
Adhesive and Sealants Market Players
The global market is highly competitive with the presence of several large multinational companies and local players. Mergers and acquisitions, collaborations, and partnerships are common strategies adopted by companies to expand their market presence and strengthen their position in the market. Some of the major adhesive and sealants market companies are Avery Denison Corporation, Sika AG, Henkel AG & Co., Arkema, 3M Company, BASF SE, H.B Fuller Company, Ellsworth Adhesives, Ashland Inc., N.D. Industries Inc., Uniseal Inc., The Dow Chemical Company, Beardow & Adams Limited, Eastman Chemical Company, and Momentive Specialty Chemical Industries.
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