Adhesives & Sealants Market worth $86.6 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 3, 2024 /PRNewswire/ -- The report "Adhesives & Sealants Market by Adhesive Technology (Water-based, Solvent-based, Hot-melt, Reactive), Sealant Resin Type (Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl), Application, & Region - Global Forecast to 2029", 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.

The adhesives and sealants market are witnessing expanding growth opportunities driven by several factors, including the demand for bonding dissimilar materials and the replacement of traditional materials with synthetic substrates. This market growth is further bolstered by rising applications in construction and automotive sectors, advancements in adhesive technologies, and escalating demand in the Asia Pacific region.

Browse in-depth TOC on "Adhesives & Sealants Market"

350 – Tables
60 – Figures
300 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=421

The major driver for the adhesives & sealants market is growth of building & construction industry.

Population growth and urbanization are key drivers propelling the residential construction sector in developing nations like China, India, Indonesia, Vietnam, Brazil, and Mexico. The rising demand for permanent housing in these regions is consequently boosting the need for adhesives and sealants. Within the construction industry, adhesives and sealants find diverse applications such as carpeting, tiling, wallpapers, and exterior insulation systems, as well as in securing curtain wall panels and insulating glass units.

According to Global Construction Perspectives and Oxford Economics, the global construction output is projected to increase by 85% to reach USD 15.5 trillion by 2030, with China, the US, and India contributing up to 57% of this growth. This upsurge is attributed to economic recovery in these major economies.

Factors such as globalization, urbanization, improving standards of living, rising purchasing power parity (PPP), infrastructural development, and the growing necessity to construct megacities in emerging economies are driving the construction industry worldwide. In developed countries, the construction industry accounts for approximately 5% of GDP, while in developing economies, it represents around 8%. There is a significant anticipated demand for infrastructure in emerging economies over the next two decades, with global infrastructure investment estimated to reach USD 3.7 trillion annually by 2040.

Water-based technology segment is expected to hold largest share of the adhesive's technology & resin market during the forecasted period.

The expansion of the water-based adhesives market segment is fuelled by increasing demand within the building and construction sector in North America, alongside the emergence of new infrastructure projects in India, Taiwan, and other developing nations globally. Water-based adhesives, renowned for their excellent adhesion properties across diverse substrates, are extensively utilized in a wide array of packaging applications. These include bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding.

Paper & packaging by adhesives application segment holds the largest segment in overall adhesives market during forecast period.

The packaging industry worldwide is witnessing expansion primarily driven by burgeoning markets in less developed regions, where urbanization is prompting shifts in consumer lifestyles, thus fuelling the demand for packaged goods. Additionally, the e-commerce sector is contributing significantly to this growth trajectory. Economic advancement and demographic transitions are key catalysts propelling the packaging industry forward. With anticipated income growth, consumer expenditure on packaged goods is expected to rise. Moreover, the packaging industry is experiencing heightened demand for pharmaceutical products, particularly in developed markets such as Japan, driven by increasing life expectancy rates.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=421

Silicone segment, by sealants resin type holds the largest segment in overall sealants market during forecast period.

Silicone is at the forefront of the overall sealants market, with polyurethane trailing closely behind. The market for silicone-modified polyether sealants has extended beyond its original Japanese production base to encompass larger markets in North America and Europe. The adoption of silicone sealants for a multitude of automobile bonding applications, such as sealing joints, gaps, and cracks, forming low-temperature gaskets, and replacing windscreens, as well as bonding headlamps, fog lamps, tail lamps, lamp covers, caps, and bulb mounting sockets, is driving the growth of this segment.

Building & construction application segment accounted largest share of the global sealant market during forecasted period.

The building and construction sector holds the largest portion of the sealants market. In various applications, sealants also serve as adhesives. For instance, in structural glazing for glass-walled buildings, sealants not only seal but also bond the glass to the building framework. While sealants may lack the high tensile strength typically associated with adhesives, they offer exceptional durability and reliability when exposed to conditions such as high humidity, chemical exposure, or electrical stress. Silicones enable some movement between bonded parts, thus alleviating shearing stresses that may arise from differences in thermal expansion among different materials.

Asia Pacific region likely to account the largest share of the global adhesives & sealants market during forecasted period.

Asia Pacific has established itself as a prominent hub for the production and consumption of adhesives and sealants, driven by growing domestic demand, rising income levels, and abundant access to resources. The region leads in automobile production and the automotive and transportation industry stands out as a significant consumer of adhesives and sealants. Economic expansion in Asia Pacific, notably in emerging markets like India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam, is fuelling the surge in infrastructure projects, thereby boosting the demand for adhesives and sealants in the building and construction sector.

Key Players

Major players in the adhesives and sealants market are Henkel AG & Co. KGaA (Germany), H.B. Fuller Company (US), Sika AG (Switzerland), Arkema (Bostik) (France), and 3M (US).

Browse Adjacent Market: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting

Related Reports:

Construction Sealants Market - Global Forecasts to 2028

Polyurethane Sealants Market - Global Forecast to 2027

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: [email protected]
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/adhesive-sealants-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/adhesive-and-sealant.asp

Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets