Westford USA, June 12, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Adhesives and Sealants Market will attain a value of USD 114 Billion by 2031, with a CAGR of 6.0% over the forecast period (2024-2031). The use of lightweight materials is growing; thus, the market share is expected to grow in coming years. More of these lightweight materials, especially composites and polymers are being employed by the automotive as well as the aerospace industries with a view of enhancing fuel efficiency and minimizing carbon emissions. A dramatic surge in adhesives and sealants is necessitated by their need for bonding among two surfaces efficiently and for long term.
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Adhesives and Sealants Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $71.5 Billion |
| Estimated Value by 2031 | $114 Billion |
| Growth Rate | Poised to grow at a CAGR of 6% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Adhesive Technology, Sealant Resin Type, Adhesive Applications, Sealants Application |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increased focus on sustainability |
| Key Market Opportunities | Demand for sustainability & eco-friendly products |
| Key Market Drivers | Increased use of highly potent active pharmaceutical ingredients |
Resistance to Weathering and Chemicals Allows Acrylic Product Type to Hold High Market Share
The market for acrylic adhesives and sealants is dominated by its many uses, such as quick cure periods, excellent bonding strength, and resilience to chemicals and weathering. The increasing demand for them in numerous industries, such as electronics, construction and automotive sectors, where their performance qualities meet a variety of application requirements, is also another factor that contributes to their wide-spread adoption.
Extensive Usage in Flooring and Insulation to help this Segment Lead
The building and construction sector holds considerable sway over the worldwide adhesives and sealants market due to their widespread use in diverse applications such as structural bonding, flooring, and insulation. In the market, adhesives and sealant reign supreme due to the continuous need for trustworthy and durable bonding solutions that can ensure aesthetic appeal, energy efficiency, structural integrity when erecting buildings.
Asia Pacific Gaining Momentum to Spearhead Adhesives and Sealants
With a considerable revenue share of 41.2% in 2023, the Asia Pacific region has emerged as a formidable force in the adhesives and sealants market. For example, the pandemic-induced downturn led to a significant drop in textile commerce between China and India, which fell by 12.4% year over year in the first two months of 2020 compared to the same period the previous year.
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Adhesives and Sealants Market Insight
Drivers:
- Increased use of highly potent active pharmaceutical ingredients
- Adhesives and Sealants Lead the Charge in Lightweight Revolution
- E-commerce & Digitalization
Restraints:
- Volatile Raw Material Prices
- Environmental and Regulatory Concerns
- Startups is Leading to Fluctuation in Price and Product Differentiation
Prominent Players in Adhesives and Sealants Market
The following are the Top Adhesives and Sealants Companies
- 3M Company (US)
- RPM International Inc. (US)
- Pidilite Industries Ltd. (India)
- Henkel AG & Co. KGaA (Germany)
- Sika AG (Switzerland)
- H.B. Fuller Company (US)
- Arkema S.A. (France)
- Dow Chemical Company (US)
- Bostik (Arkema Group) (France)
- Avery Dennison Corporation (US)
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Key Questions Answered in Global Adhesives and Sealants Market Report
- How is the need for adhesives and sealants affected by the growing usage of lightweight materials in sectors like aerospace and automotive?
- What factors, specifically in the automotive, construction, and electronics industries, contribute to the large market share of acrylic adhesives and sealants?
- What specific applications are the driving forces behind the building and construction industry's major influence on adhesive and sealant dominance in the global market?
This report provides the following insights:
- Analysis of key drivers (Increasing emphasis on lightweight materials, advanced manufacturing techniques across diverse industries, adhesives & sealants capable of effectively bonding lightweight materials and elevated performance standards in consumer electronics), restraints (Adhesives & sealants often contain volatile organic compounds, chemicals that can have adverse environmental effects and not modify their existing products to comply with environmental standards), opportunities (Substantial investments into large-scale infrastructure development projects, notable growth prospects for manufacturers of adhesives & sealants and rising income levels & increased purchasing power in emerging economies), and challenges (Adhesives & sealants market experiences frequent regulatory changes and additional costs for external testing to ensure compliance) influencing the growth of adhesives and sealants market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the adhesives and sealants market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the adhesives and sealants market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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Automotive Adhesives and Sealants Market
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