The adhesives and sealants market is poised for growth, with a CAGR of 5 % forecast to exceed $105.87 billion by 2032.

News from Newark, Oct. 19, 2023 (GLOBE NEWSWIRE) - Brainy Insights forecasts the global adhesives and sealants market, which was worth US$65 billion in 2022, to reach US$105.87 billion by 2032. Due to the growing population of China and India, the Asia Pacific region now has access to a significant market in the automotive, real estate, and electronics industries. The number of government measures aimed at improving infrastructure in this region to attract foreign capital and improve the quality of life of citizens is also increasing. Due to attractive emerging markets, major market players are becoming more prevalent in the global adhesives and sealants industry. The market will grow in the long run due to the development of construction, automotive, and electronics industries in this region.

The key advantage of the global adhesives and sealants market

The Asia-Pacific region will dominate the market during the forecast period.

The Asia-Pacific region is currently dominating the global adhesives and sealants market due to the growing population in the region, which is also fueling the growth of the construction, automotive, packaging, and electronics industries and the demand for adhesives and sealants. Owing to the growing number of major market players who are focusing on establishing their manufacturing facilities in developing countries to bolster the lucrative gains from the rising demand for adhesives and sealants in the region, Asia Pacific will continue to dominate the market during the forecast period.

The adhesives segment dominated the market in 2022 with the largest market share of 53% and revenue of $32.46 billion.

Product Segment

The product segment is categorized into adhesives and sealants. In 2022, the adhesives segment dominated the market with the largest market share of 53% and market revenue of $32.46 billion.

In 2022, the building and construction segment dominated the market with the largest market share of 32% and market revenue of $20.80 billion.

Application Segment

The application segment is divided into paper board & packaging, woodworking & carpentry, footwear & leather, building & construction, transportation, medical, automotive, packaging, aviation, and other industries. In 2022, the building and construction segment dominated the market with the largest market share of 32% and market revenue of $20.80 billion.

Market Development

October 2023 - Henkel's LOCTITE line offers the best solution for production repair adhesives for paper and board. Obstacles faced by paper and board industry machines can be eliminated and productivity can be increased with LOCTITE repair adhesives. In the paper and paperboard manufacturing process, industrial gearboxes are important. It is important that they operate reliably for a long life with minimal maintenance. LOCTITE 518 is a medium-strength sealer with exceptional tolerance to contamination. It is ideal for use on steel, aluminum and cast iron flanges. LOCTITE 518 cures when placed between tightly spaced metal surfaces without air. It is a hard iron, aluminum and steel sealing agent specific to flange joint surfaces.

Market Dynamics

Driving factor: emerging construction, automotive and packaging sectors.

The use of adhesives and sealants is widespread in the construction, automotive, and packaging sectors. The use of adhesives and sealants in these industries extends the life cycle of end products. Growing populations and rising standards of living have increased demand for housing and other amenities such as shopping centers and parks.

The construction of public infrastructure requires large amounts of governments to finance. Owing to the increasing demand for adhesives and sealants in packaging, construction, and automotive applications, the market will grow.

Limitations

Limitations: Strict government regulations.

The use of adhesives and sealants in any industry that directly affects consumers, including the packaging industry, is receiving increasing attention from regulatory organizations. More careful monitoring is needed at every level, as the chemicals used to produce adhesives and sealants can potentially harm both people and the environment. Stringent regulations applicable to the manufacture and use of adhesives and sealants can cause problems for market participants. Regulatory oversight has intensified due to the urgency imposed by international authorities to prevent environmental degradation.

Opportunities

Opportunities: Expanding the global market for consumer goods.

Growth of the construction and automotive industries. In line with industry research and development of new materials that offer the best adhesives and sealants with improved and enhanced performance is increasing. With improved properties such as bacteriostatic, thermal insulation, moisture and air barrier, adhesives and sealants have a wider range of applications. They are already being used in medical and home appliances. Improved product advancements will create lucrative opportunities in the global adhesives and sealants market. Nowadays they are used in medical and household appliances. The improved product development will create lucrative opportunities in the global adhesives and sealants market.

Problems

Problems: Lack of standardized regulatory system.

There are problems in managing international trade because each government has developed its own set of rules that producers must follow. Conflicting requirements of multiple regulations increase manufacturer costs and take time, resulting in inefficiencies and financial loss. The streamlining of laws and regulations must address the above problems, otherwise market participants will suffer significant losses.

Main players

• Arkema S.A.
• Avery Denison Corporation
• BASF SE
• Evonik Industries AG
• H.B. Fuller
• Henkel AG & Co. KGAA
• Pidilite Industries
• Sika AG
• The 3M Company
• Uniseal, Inc.

Key segments covered by the market

By product type

• Adhesives
• Germetics

Application

• Paper boards and packaging
• Woodworking and carpentry
• Footwear and leather
• Building and Construction
• Transportation
• Medicine
• Automobiles
• Packaging
• Aviation
• Other industries

Regional

• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and the rest of South America)
• Middle East and Africa (UAE, South Africa, rest of MAM)

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