Butyl Adhesives Market Size to Worth $1.7 Billion by 2032 | CAGR: 5.2%: AMR
The global butyl adhesives market is experiencing growth due to several factors including its high demand in the automotive industry for bonding and sealing applications, as well as its use in the construction sector for weatherproofing and insulation. Additionally, the growing demand for butyl adhesive in the electronics and packaging industries is also contributing to its market growth.
Wilmington, Delaware , March 04, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled,* “**Butyl Adhesives Market** by Type (Tape and Paste), and End-Use Industry (Building and Construction, Automotive, Packaging, Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032”. *According to the report, the global butyl adhesives market was valued at $1.0 billion in 2022 and is projected to reach $1.7 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032. *Prime determinants of growth*
The global butyl adhesives market is experiencing growth due to several factors such as the increasing demand for lightweight and fuel-efficient vehicles, which require advanced adhesive solutions to bond different materials. Additionally, the growing construction industry, particularly in emerging economies, is driving the demand for butyl adhesives for various applications, such as roofing and insulation. However, the volatility in raw material prices and the availability of substitutes, such as silicone adhesives hinders market growth to some extent. Moreover, the development of bio-based butyl adhesives and the increasing use of butyl adhesives in the medical and electronics industries offer remunerative opportunities for the expansion of the butyl adhesives market.
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*Report coverage & details:*
*Report Coverage* *Details*
Forecast Period 2023–2032
Base Year 2022
Market Size In 2022 $1.0 Billion
Market Size In 2032 $1.7 Billion
CAGR 5.2%
No. Of Pages In Report 220
Segments Covered Type, End-Use Industry And Region. Drivers Escalating Demand For The Construction Industry
Exponential Growth In The Renewable Energy Sector
Opportunity Expanding Packaging Industry
Restraint High Cost
*The paste segment is expected to grow faster throughout the forecast period.* Based on the type, the tape held the highest market share in 2022, accounting for more than half of the global butyl adhesives market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that butyl adhesive tapes are widely used in various industries due to their exceptional properties. In the construction sector, they are used for sealing joints and seams in roofing, windows, and doors. In the automotive industry, they serve as a reliable solution for attaching trim, moldings, and weatherstripping. In the electrical industry, they provide insulation and moisture protection for cables and wiring. Additionally, they are utilized in the HVAC industry for sealing ductwork and insulation.
However, the paste segment is projected to manifest the highest CAGR of 5.3% from 2023 to 2032. This can be attributed to the fact that paste formulations are commonly used for various applications due to their versatility and effectiveness. Butyl adhesive paste is frequently utilized for sealing joints and seams in construction, automotive, and manufacturing industries. It provides strong bonding properties, excellent adhesion to a wide range of substrates, and resistance to environmental factors such as moisture, heat, and chemicals. Additionally, paste formulations offer ease of application, enabling precise and uniform coverage, which is crucial for achieving reliable and durable seals.
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*The packaging segment is expected to lead the trial by 2032.*
Based on the end-use industry, the building and construction segment held the highest market share in 2022, accounting for more than one-third of the global butyl adhesives market revenue, and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that butyl adhesive is commonly used in the building and construction industry for various applications due to its unique properties. It is often used as a sealant for windows, doors, and other openings to prevent air and water infiltration. Butyl adhesive is also used as a bonding agent for various materials, such as metal, wood, and plastic, to create strong and durable connections. Additionally, it is used as a sound and vibration dampener in buildings to reduce noise and improve comfort.
However, the packaging segment is projected to manifest the highest CAGR of 4.7% from 2023 to 2032. This can be attributed to the fact that butyl adhesive is commonly used in packaging in the end-use industry due to its strong bonding properties and resistance to moisture, heat, and chemicals. It is often used to seal boxes, cartons, and other packaging materials, providing a secure and durable seal that helps protect the contents from damage during transportation and storage. Butyl adhesive is also used in the production of flexible packaging, such as pouches and bags, where it helps create a strong and reliable seal that prevents leaks and preserves the freshness of the packaged goods. Additionally, butyl adhesive is used in the production of labels and tapes, where it provides a strong and durable bond that helps ensure the labels and tapes stay in place and remain legible.
*Asia-Pacific to **maintain** its dominance by 2032.*
Based on region, Asia-Pacific held the *highest market share* in terms of revenue in 2022, accounting for more than two-fifths of the global butyl adhesives market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The Asia-Pacific region is a significant market for butyl adhesives, with countries like China, Japan, South Korea, and India leading the demand. The growth in the automotive, construction, and packaging industries, coupled with increasing infrastructure development, has driven the demand for butyl adhesives in the region. The automotive sector, in particular, is a major consumer of butyl adhesives, as they are used in the assembly of vehicles, providing strong bonding and sealing properties. The construction industry also contributes to the demand for butyl adhesives, as they are used in applications such as roofing, flooring, and insulation. Additionally, the packaging industry utilizes butyl adhesives for sealing and bonding applications.
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*Players: -*
· HENKEL CORPORATION
· H.B. FULLER COMPANY
· BOSTIK
· 3M
· GENERAL SEALANTS
· RENOLIT SE
· L'ISOLANTE K-FLEX S.P.A
· SIKA
· GUIBAO
· NITTO DENKO CORPORATION
The report provides a detailed analysis of these key players in the global butyl adhesives market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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