Adhesives & Sealants Market worth $86.6 billion by 2029 Globally, at a CAGR of 2.6% says MarketsandMarkets™
Chicago, May 15, 2024 (GLOBE NEWSWIRE) -- *The Global **Adhesives & Sealants Market** size was USD 76.1 billion in 2024 and is projected to reach USD 86.6 billion by 2029, at a CAGR of 2.6% between 2024 and 2029**,* as per the recent study by MarketsandMarkets™**. The demand for adhesives & sealants is increasing due to various factors, such as the need to bond dissimilar materials and the substitution of synthetic substrates for traditional materials.
*Download PDF Brochure:* *https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=421*
*Browse in-depth TOC on “Adhesives & Sealants Market”.*
*350 - Market Data Tables
60 - Figures
300 - Pages *
*List of Key Players in Adhesives & Sealants Market**:*
· Henkel AG & Co. KGaA (Germany)
· H.B. Fuller Company (US)
· Sika AG (Switzerland)
· Arkema (Bostik) (France)
· 3M (US)
*Drivers, Restraints, Opportunities and Challenges in **Adhesives & Sealants Market**:*
*1. Drivers: *Growth of building & construction industry*.*
*2. Restraints: *Stringent environmental regulations in North America and Europe
*3. Opportunity: *Investments in emerging markets of Asia Pacific
*4. Challenges: *regulatory compliance
*Key Findings of the Study:*
· The major driver for the adhesives & sealants market is growth of building & construction industry.
· Water-based technology segment is expected to hold largest share of the adhesive’s technology & resin market during the forecasted period.
· Paper & packaging by adhesives application segment holds the largest segment in overall adhesives market during forecast period.
· Silicone segment, by sealants resin type holds the largest segment in overall sealants market during forecast period.
· Building & construction application segment accounted largest share of the global sealant market during forecasted period.
· Asia Pacific region likely to account the largest share of the global adhesives & sealants market during forecasted period.
*Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=421*
Water-based by technology accounted for the largest share of the overall adhesives & sealants market, in terms of value, in 2023. The growth of the water-based segment in the adhesives market is propelled by rising demand in North America's building and construction sector, as well as in new infrastructure endeavours in India, Taiwan, and other emerging nations worldwide. These adhesives offer superior adhesion across various substrates and find extensive application in packaging, including bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding.
Paper & packaging by adhesive application accounted for the largest share of the overall adhesives market, in terms of value, in 2023. The packaging industry is witnessing substantial expansion on a global scale, with much of this growth emanating from developing markets where urbanization is reshaping consumer habits and driving up demand for packaged goods. The surge in e-commerce activity further accelerates this trend. Economic progress and demographic transformations are key drivers behind the momentum in the packaging sector. Anticipated rises in income levels are expected to translate into increased consumer expenditure on packaged products. Additionally, there is a notable uptick in demand for pharmaceutical items, particularly in developed markets such as Japan, driven by the increasing life expectancy of the population.
Silicone segment by sealant resin type is estimated to account the largest share in 2023 in terms of value. Silicone dominates the sealants market globally, with polyurethane following closely behind. Silicone-modified polyether sealants, initially produced in Japan, have now expanded their presence into larger markets in North America and Europe. The utilization of silicone sealants in various automobile bonding applications, including sealing joints, gaps, and cracks, creating low-temperature gaskets, and replacing windscreens, as well as bonding headlamps, fog lamps, tail lamps, lamp covers, caps, and bulb mounting sockets, is propelling the growth of this segment.
Building & construction segment by sealant application dominated the overall sealant market, in terms of value, in 2023. The building and construction sector holds the majority share of the sealants market. In numerous applications, sealants serve a dual purpose as adhesives. For example, in structural glazing for glass-walled buildings, sealants not only provide sealing but also adhere the glass to the building framework. While sealants may not possess the high tensile strength characteristic of adhesives, they offer superior durability and reliability when exposed to high humidity, chemical exposure, or electrical stress. Silicones permit some degree of movement between bonded parts, thus mitigating shearing stresses that may arise from differences in thermal expansion among dissimilar materials.
*Get 10% Customization on this Report: *
* https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=421*
Asia Pacific is the leading market for adhesives & sealants market. Asia Pacific has risen as a significant producer and consumer of adhesives and sealants, driven by growing domestic demand, increasing income levels, and convenient resource availability. It leads in automobile production, with the automotive and transportation industry being a major consumer of these products in the region. Economic growth in Asia Pacific, particularly in emerging markets like India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is fuelling a rise in infrastructure projects, which is expected to boost demand for adhesives and sealants in the building and construction sector.
*Browse Adjacent Markets*: *Coatings Adhesives Sealants and Elastomers Market Research Reports** & Consulting *
*Related Reports:*
· *Rubber Additives Market*
· *Prepreg Market*
· *Acrylic Polymer Market*
· *Synthetic Paper Market*
· *Textile Dyes Market*
CONTACT: About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com