London, Dec. 05, 2023 (GLOBE NEWSWIRE) -- In a notable development for the global Adhesives and Sealants Market, a newly published research intelligence by Fairfield Market Research forecasts a significant upswing for the market. Global revenue is expected to reach US$104.2 Bn by 2030, which is a remarkable rise from a valuation of US$76.1 Bn recorded in 2022.
The market growth is underlined by key trends in adhesive and sealant technologies, emphasizing novel formulas, enhanced bonding properties, quicker cure periods, and improved durability. Major sectors such as construction, automotive, packaging, aerospace, healthcare, electronics, and consumer goods are fuelling this growth.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$76.1 Bn | |
| Estimated Market Size in 2030 | US$104.2 Bn | |
| CAGR | 4.6% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | Dow Inc., 3M Company, Sika AG, Henkel AG & Co. KGaA, BASF SE, B. Fuller Company, Arkema Group, Saint-Gobain S.A., Illinois Tool Works Inc., PPG Industries, Inc., Franklin International, KCC Corporation, Weicon GmbH & Co. KG, Mapei SpA, RPM International Inc. | |
The market for adhesives and sealants is likely to maintain a moderate yet promising CAGR in terms of value, i.e., 4.6% between 2023 and 2030. The regional prominence of Asia Pacific, and the growing preference for water-borne adhesives underscore the dynamic nature of this market.
“The demand for tailor-made adhesives and sealants, catering to specific industry requirements, is on the rise, providing manufacturers with opportunities for niche market penetration. This and more such innovations keep the market afloat,” says the company’s analyst. “The exponential growth of e-commerce creates a continuous stream of opportunities for the adhesives and sealants market, especially in the development of secure and sustainable packaging solutions,” the analyst adds further.
Key Research Insights
- In 2022, water-borne adhesives took the lead, gaining popularity for their low volatile organic compound (VOC) content, environmental compliance, and eco-friendliness.
- The silicone segment led the market in 2022, gaining widespread favour across construction, automotive, electronics, healthcare, and consumer goods industries.
- The burgeoning demand for eco-friendly and sustainable adhesive solutions propels the adoption of water-borne polyurethane adhesives, reinforcing the category's rapid growth.
- Europe, with a dedicated focus on sustainable and eco-friendly solutions across industries, is witnessing an upsurge in demand for bio-based adhesives and sealants.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/global-adhesives-and-sealants-market
Insights into Segmentation Analysis
Sustainability Drives Dominance of Water-borne Adhesives
Water-borne adhesives take the lead in the adhesives sector, showcasing environmentally friendly properties, low VOC content, and adherence to stringent regulations. Widely preferred across industries for their versatility, ease of cleanup, and quick curing times, they excel in applications from packaging to construction.
Reactive Adhesives Surge, Polyurethane and Epoxy Lead the Way
The reactive adhesives category, dominated by polyurethane, epoxy, cyanoacrylate, and modified acrylics in 2022, showcases versatility and superior bonding capabilities across various industries.
Polyurethane adhesives, known for excellent adhesion, impact resistance, and durability, find extensive use in automotive, aerospace, and construction. Epoxy adhesives, anticipated to grow substantially, offer exceptional bonding properties, strength, and durability across industries like aerospace, automotive, construction, electronics, and consumer goods.
Silicone's Dominance, and Polyurethane's Rapid Growth
Recognised for exceptional durability, flexibility, and resistance to extreme conditions, silicone sealants are indispensable in weatherproofing, sealing, and bonding applications.
Meanwhile, the polyurethane category is set to experience the fastest growth, driven by its versatility, robust bonding capabilities, and superior performance across applications in electronics, automotive, construction, aerospace, and packaging.
Key Report Highlights
- Growing environmental awareness is shifting consumer preferences towards eco-friendly and sustainable products, leading to an increased demand for bio-based adhesives and sealants.
- The packaging industry's need for efficient and secure packaging solutions is fueling the demand for adhesives and sealants, ensuring product integrity and safety during transit.
- With the advent of Industry 4.0, smart adhesives that respond to external stimuli such as temperature and pressure are gaining traction, of late.
Insights into Regional Analysis
Asia Pacific Leads the Charge
Asia Pacific is projected to command the largest share of the global market, driven by robust industrialisation, expanding manufacturing sectors, rapid urbanisation, and significant economic growth. China, Japan, India, and South Korea emerge as major contributors, with thriving automotive industries, burgeoning construction sectors, and growing consumer goods demands.
Asia Pacific's economic strength, size, and growing urbanisation contribute to its firm position as the largest market across various industries. The region's emphasis on infrastructural projects, and the adoption of advanced technologies further amplify the demand for adhesives and sealants.
North America’s Rising Tide
With water-borne variants taking the centre stage, North America anticipates substantial growth in the water-borne adhesive category, fueled by sustainability goals, stringent environmental regulations, and a heightened awareness of reducing VOCs.
Industries in North America, including packaging, construction, automotive, and textiles, increasingly opt for water-borne adhesives due to their compliance with strict regulatory standards.
North America's commitment to reducing its carbon footprint aligns with the adoption of water-borne adhesives. As sustainability remains a focal point, the water-borne adhesive category is poised for significant growth in the region, solidifying its position in the adhesives and sealants market.
Browse Global Adhesives and Sealants Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): https://www.fairfieldmarketresearch.com/report/global-adhesives-and-sealants-market
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