Chicago, May 15, 2024 (GLOBE NEWSWIRE) -- The Global Adhesives & Sealants Market size was USD 76.1 billion in 2024 and is projected to reach USD 86.6 billion by 2029, at a CAGR of 2.6% between 2024 and 2029, as per the recent study by MarketsandMarkets™. The demand for adhesives & sealants is increasing due to various factors, such as the need to bond dissimilar materials and the substitution of synthetic substrates for traditional materials.
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List of Key Players in Adhesives & Sealants Market:
- Henkel AG & Co. KGaA (Germany)
- H.B. Fuller Company (US)
- Sika AG (Switzerland)
- Arkema (Bostik) (France)
- 3M (US)
Drivers, Restraints, Opportunities and Challenges in Adhesives & Sealants Market:
1. Drivers: Growth of building & construction industry.
2. Restraints: Stringent environmental regulations in North America and Europe
3. Opportunity: Investments in emerging markets of Asia Pacific
4. Challenges: regulatory compliance
Key Findings of the Study:
- The major driver for the adhesives & sealants market is growth of building & construction industry.
- Water-based technology segment is expected to hold largest share of the adhesive’s technology & resin market during the forecasted period.
- Paper & packaging by adhesives application segment holds the largest segment in overall adhesives market during forecast period.
- Silicone segment, by sealants resin type holds the largest segment in overall sealants market during forecast period.
- Building & construction application segment accounted largest share of the global sealant market during forecasted period.
- Asia Pacific region likely to account the largest share of the global adhesives & sealants market during forecasted period.
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Water-based by technology accounted for the largest share of the overall adhesives & sealants market, in terms of value, in 2023. The growth of the water-based segment in the adhesives market is propelled by rising demand in North America's building and construction sector, as well as in new infrastructure endeavours in India, Taiwan, and other emerging nations worldwide. These adhesives offer superior adhesion across various substrates and find extensive application in packaging, including bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding.
Paper & packaging by adhesive application accounted for the largest share of the overall adhesives market, in terms of value, in 2023. The packaging industry is witnessing substantial expansion on a global scale, with much of this growth emanating from developing markets where urbanization is reshaping consumer habits and driving up demand for packaged goods. The surge in e-commerce activity further accelerates this trend. Economic progress and demographic transformations are key drivers behind the momentum in the packaging sector. Anticipated rises in income levels are expected to translate into increased consumer expenditure on packaged products. Additionally, there is a notable uptick in demand for pharmaceutical items, particularly in developed markets such as Japan, driven by the increasing life expectancy of the population.
Silicone segment by sealant resin type is estimated to account the largest share in 2023 in terms of value. Silicone dominates the sealants market globally, with polyurethane following closely behind. Silicone-modified polyether sealants, initially produced in Japan, have now expanded their presence into larger markets in North America and Europe. The utilization of silicone sealants in various automobile bonding applications, including sealing joints, gaps, and cracks, creating low-temperature gaskets, and replacing windscreens, as well as bonding headlamps, fog lamps, tail lamps, lamp covers, caps, and bulb mounting sockets, is propelling the growth of this segment.
Building & construction segment by sealant application dominated the overall sealant market, in terms of value, in 2023. The building and construction sector holds the majority share of the sealants market. In numerous applications, sealants serve a dual purpose as adhesives. For example, in structural glazing for glass-walled buildings, sealants not only provide sealing but also adhere the glass to the building framework. While sealants may not possess the high tensile strength characteristic of adhesives, they offer superior durability and reliability when exposed to high humidity, chemical exposure, or electrical stress. Silicones permit some degree of movement between bonded parts, thus mitigating shearing stresses that may arise from differences in thermal expansion among dissimilar materials.
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Asia Pacific is the leading market for adhesives & sealants market. Asia Pacific has risen as a significant producer and consumer of adhesives and sealants, driven by growing domestic demand, increasing income levels, and convenient resource availability. It leads in automobile production, with the automotive and transportation industry being a major consumer of these products in the region. Economic growth in Asia Pacific, particularly in emerging markets like India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is fuelling a rise in infrastructure projects, which is expected to boost demand for adhesives and sealants in the building and construction sector.
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