Global Adhesives and Sealants Market Size to Cross USD 94.1 billion by 2028

58
Adhesives and Sealants Market

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global adhesives and sealants market size at USD 65.27 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size of global adhesives and sealants market to grow at a CAGR of 5.4% reaching a value of USD 94.12 billion by 2028. Adhesives and sealants are made from comparable synthetic substances and innovations and are used in a similar range of applications. Changes in material consumption patterns, with highly durable materials replacing materials, such as aluminum, metal, and paper, act as major driving factors. It is expected to have a positive impact on the demand for adhesives and sealants in packaging, construction, automobiles, and many other applications over the next eight years. However, production of adhesives and sealants may be hindered by the use of more chemicals.

Global Adhesives and Sealants Market – Overview

Adhesives and sealants have been increasingly important in recent decades, because of the rapid urbanization and population growth. Following the expansion of R&D activities and localized production, Asia Pacific may offer promising growth opportunities. Furthermore, the expansion of the housing sector, urbanization, and strong policies may help the global market gain significant traction. The trend toward electronic devices, such as smartphones, electronic parts, and laptops, is positive for the growth of global adhesives and sealants market.

The global adhesives and sealants market for the assembling industry is driven by the increased use of adhesives and sealants in electronic items, batteries, and machines. As evidenced by their use in electric vehicles, adhesives and sealants are gaining popularity around the world. Adhesives and sealants are used throughout an airplane’s interior, exterior, and engine compartments. The market is further expected to be driven by the food and beverages industry’s consistent demand for packaging products, due to their advantages over the other types of adhesives. Moreover, adhesives are preferred for use in the interior, exterior, and engine compartments of airplanes. Adhesives carry heavier loads and help with the even distribution of stress across joints. As there is no gap, bolt, or other securing element to weaken construction, adhesives also maintain integrity and strength of materials. During forecast period, these factors are projected to further drive the demand for adhesives and sealants on a global scale.

Request for Sample Report @ https://www.blueweaveconsulting.com/report/adhesives-and-sealants-market/report-sample

Global Adhesives and Sealants Market – Technology Advancements

Global adhesives and sealants market has been divided into Solvent-based, Water-based, Hot melt, Reactive, and others based on the technology; Paper & Packaging, Consumer & DIY, Building & Construction, Furniture & Woodworking, Footwear & Leather, Automotive & Transportation, Medical, and Others, based on end-use industries; into PVA (Polyvinyl alcohol), EVA (Ethylene-vinyl acetate), Polyurethanes, Acrylic, Styrenic block, Epoxy, and Others based on the product type. Currently, polyurethane adhesive under the product type category dominates the market, accounting for most of the share.

Adhesive & sealant manufacturers are now required to produce eco-friendly products with no- or low-VOC (volatile compounds) levels due to the strict regulations set forth by the USEPA (United States Environmental Protection Association); Europe’s Registration, Evaluation, Authorisation and Restrictions of Chemicals (REACH); Leadership in Energy and Environmental Design (LEED); and other regional regulatory authorities. Both sealants and adhesives are frequently applied to materials, such as metals, wood, glass, and plastics. They are based on a variety of formulations, including organic, inorganic, acrylic, polyurethane, and silicone. The ongoing search for new chemical compositions of industrial adhesives and sealants that can withstand high levels of stress parallels the evolution taking place in the architecture and manufacturing industries. Due to the high unmet needs in industrial and consumer applications, these products are constantly evolving in terms of bonding performance and specialized functionality. It is also a main growth driver for global adhesives and sealants market.

Impact of COVID 19 on Global Adhesives and Sealants Market

The construction industry has faced many obstacles because of COVID-19 pandemic. Major global economies, such as the US, Germany, the UK, Italy, South Korea, Spain, and Japan are among those that were adversely affected by the pandemic. Construction activities were suspended in most countries, due to supply chain disruptions, lack of labor and raw materials, and social distancing policies, as well as workforce dislocation. Construction firms with low cash reserves and high debt levels experienced a liquidity crisis. With this coronavirus outbreak, however, more temporary hospitals and quarantine facilities were built. The severe disruption by COVID-19 pandemic in construction activities and global supply chain networks affected global adhesives and sealants market. With the relaxations in business activities, the market is expected to grow at the pre COVID-19 level.

Competitive Landscape

Prominent players in global adhesives and sealants market include 3M Company, Reckitt Benckiser Group Plc, Ashland Inc., Avery Denison Corporation, H B Fuller, Henkel AG, Sika AG, Pidilite Industries, Huntsman, Wacker Chemie AG, RPM International Inc., Arkema, Huntsman Corporation, Illinois Tool Works Inc., Dow Inc., KCC Corporation, and Wacker Chemie AG. These companies use R&D, expansions, acquisitions, and new product releases to further enhance their market position.

Contact Us:

BlueWeave Research Blog

Phone No: +1 866 658 6826

Email: info@blueweaveconsulting.com