Wilmington, Delaware, United States, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The adhesives & sealants market is expected to reach US$ 33.3 billion by 2030. Adhesives and sealants market sales are expected to increase at a CAGR of 8% until 2030. With the growing demand for adhesives and sealants from industries like construction, footwear, doors and beverage, medical, automotive, and leather, demand for these products has grown.
The use of smartphones and the advancement of technology are expected to fuel demand for these products in the market. Sustainable products are increasingly in demand due to consumer awareness of green construction and eco-friendly buildings.
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Advanced sealants and adhesives are likely to benefit greatly from nanotechnology. Incorporating nanomaterials may improve properties like adhesion, barrier, and resistance to the environment. Smart technologies and the Internet of Things (IoT) will increase the need for adhesives and sealants for sensors and electronic components. Besides conducting electricity, these smart adhesives may be capable of controlling temperatures or protecting electronic devices against electrical surges.
3D printing technology processes may affect adhesives and sealants for additive manufacturing. Material used in 3D printing must be able to adhere well to a variety of substrates and provide structural integrity to the parts that are being printed. Sealants and adhesives will be manufactured and applied more digitally and automatically, improving the quality control and precision of application.
Customized adhesive and sealant formulations will become more common in the near future. As a result, manufacturers may be able to tailor products to fit specific applications more easily. The industry will continue to evolve as a result of stricter regulations regarding waste disposal, emissions, and toxicity. For manufacturers to create products that meet these regulations, research and development will be essential.
Key Findings of the Market Report
- Acrylic is expected to be the dominant product segment in the market. Growing construction activities and investments in infrastructure will result in a rise in demand for these products.
- The growing demand for automobiles and batteries in the market is expected to drive demand for battery production applications.
- A rise in healthcare expenditures and a significant increase in healthcare products is expected to drive demand for sealants & adhesives.
- Revenue in the adhesive and sealants market is expected to increase as government regulations and safety standards are improved.
- Consumer durables are experiencing rapid growth, which is likely to boost sealant market growth.
Global Adhesives & Sealants Market: Growth Drivers
- Sealants and adhesives are highly reliable and durable medical devices that offer resistance to high temperatures, ultraviolet light, and sterilization cycles, among others. The rising investments in the medical industry will therefore contribute to market growth.
- Water-based products continue to grow in demand, forcing many major manufacturers to increase production capacity for the coming years. Different industries such as food and beverage and packaging operations are expected to increase adhesive & sealant demand in the coming years.
- Governments' continuous investment in infrastructure projects, combined with the growing use of adhesives designed to withstand high temperatures in the automotive industry, will benefit the global adhesives market. Globally, government regulations are encouraging the use of eco-friendly adhesives and sealants, allowing manufacturers to expand their product line.
Global Adhesives & Sealants Market: Regional Landscape
- Adhesives & sealants are expected to be most popular in North America. Government regulations promoting VOC-free content as well as the growth of the packaging industry drive the adhesives and sealants market in North America. Increasing e-commerce activities and demand for portable packaged products are driving sealants market demand in the United States.
- The United States government in infrastructure and construction to stimulate the economy is investing a significant amount of money. In the coming years, North America should experience strong growth due to these factors.
- Asia Pacific region is expected to be the dominant region for adhesives & sealants in the market. Growing disposable incomes and increasing production facilities are driving the Asia-Pacific sealants and adhesives market. In addition, the demand for electric vehicles in India and the rapid growth of packaging consumption drive the adhesive and sealant market in India.
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Global Adhesives & Sealants Market: Key Players
Companies are focusing on customer acquisition, mergers and collaborations, and launching new products in the future. Several other key developments are outlined below:
The global adhesives and sealants industry is dominated by several notable companies, including Illinois Tool Works Inc., KGaA, Sika AG, RPM International Inc., The 3M Company, Dow Inc., Huntsman International LLC, Henkel AG and Co., H.B. Fuller Company, Ashland, Avery Dennison Corporation, KCC Corporation, Bostik SA, and others.
Key Developments
- In September 2023, Ann Arbor-based Coherix plans to develop technology that can reduce production costs while improving the safety, quality, and lifespan of electric vehicle batteries. To ensure performance and safety, the company develops proprietary process-control software, machine vision, and artificial intelligence.
- In September 2023, FEICA, the Association of the European Adhesive and Sealant Industry, held its annual conference and expo to launch the new study "The European Adhesives and Sealants".
Global Adhesives & Sealants Market: Segmentation
By Adhesive Type
- Acrylic
- Epoxy
- Poly Vinyl Acetate (PVA)
- Polyurethane (PU)
- Styrenic Block
- Ethyl Vinyl Acetate (EVA)
- UV Adhesive
- Silicone
- Others (including Cyanoacrylate and Hot-melt)
By Sealant Type
- Acrylic
- Epoxy
- Poly Vinyl Acetate (PVA)
- Polyurethane (PU)
- Modified Silane Polymer (MS)
- Silicone
- Others (including Cyanoacrylate and Hot-melt)
By Application
- Electronics & Electrical
- Appliance Manufacturing
- Aerospace Manufacturing
- Battery Production
- Automotive Assembling
- Others (including Conformal Coatings and Wire Tracking)
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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