Fort Collins, Colorado, Nov. 10, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Adhesives and Sealants Market size was valued at USD 69.2 Billion in 2022 and is expected to reach USD 113.2 Billion by 2032 at a CAGR of 5.1%
Adhesives and sealants are used in various construction applications such as flooring, insulation, roofing, and structural bonding, contributing to the overall market growth. Also, their essentiality follows across various industries and applications. Adhesives are substances capable of bonding two or more surfaces together by adhesion. They offer an alternative to traditional mechanical fastening methods such as nails, screws, or rivets.
Adhesives and sealants provide strength, durability, and protection. Whether in construction, automotive, electronics, packaging, or countless other sectors, adhesives and sealants join materials or create a barrier against moisture, chemicals, and other environmental factors.
Increasing use in the packaging and electronics industries is fostering market growth. Adhesives and sealants find extensive applications in the packaging and electronics industries. With the rise of e-commerce and online retail, the demand for efficient packaging solutions has surged. Adhesives and sealants provide secure bonding for packaging materials, improving product protection during transportation and storage. In the electronics industry, adhesives and sealants are used in circuit assembly, component bonding, and display manufacturing, supporting the growth of these sectors.
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Segmentation Overview:
The global adhesives and sealants market has been segmented into technology, products, applications, and regions. The acrylic segment expects to lead the market growth for adhesives and sealants. Acrylic adhesives and sealants are versatile products known for their fast curing, good adhesion, and excellent weather resistance. They are used in various industries, such as automotive, construction, electronics, and consumer goods. By region, North America is leading the adhesives and sealants market. The construction, automotive manufacturing, and aerospace sectors are the major contributors to the market growth. The United States is North America’s largest consumer of adhesives and sealants, with a strong demand from the construction and automotive industries. The increasing focus on sustainability and green solutions drives the region’s demand for eco-friendly adhesives and sealants.
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Adhesives and Sealants Market Report Highlights:
- The global adhesives and sealants market growth is anticipated at a CAGR of 5.1% by 2032.
- The increasing demand from the construction industry and applications in the automotive sectors are the key factors driving the adhesives and sealants market growth.
- Based on the product, the adhesives and sealants are further categorized into Adhesives (Acrylic, PVA, Polyurethanes, Styrenic block, Epoxy, EVA, and Others), Sealants (Silicones, Polyurethanes, Acrylic, Polyvinyl acetate, others).
- Based on application, the market is segmented into adhesives(paper & packaging, consumer & DIY, building & construction), and sealants (construction, automotive, packaging)
- Some prominent players in the adhesives and sealants market report include Evonik Industries AG, BASF SE, Arkema S.A., The 3M Company, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, and Uniseal Inc.
Industry Trends and Insights:
In June 2023, Huntsman updated its product portfolio for battery performance and protection.
In 2023, Saint Gobain, a leading manufacturer of glass and housing solutions, announced its plan to invest INR 3400 crore (USD 400 Million approx) in Tamil Nadu, India. For the next five years, the company would invest massively across its portfolio in several sectors.
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Adhesives and Sealants Market Segmentation:
By Technology: Water-based, solvent-based, hot melt, reactive, others.
By Products: Acrylic, PVA, styrenic block, epoxy, eva
By Applications: Paper and packaging, consumer & DIY, construction, automotive, packaging.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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