Adhesives and Sealants Market to Grow with 5% CAGR Through 2030, says P&S Intelligence

NEW YORK, May 11, 2022 /PRNewswire/ -- The adhesives and sealants market was valued at $66,649.9 million in 2021, and it will propel at a CAGR of 4.9% during 2021–2030, to reach $102,604.3 million by 2030. According to the market research report published by P&S Intelligence. This will primarily be because of the increasing product application in the construction and automotive industries. Moreover, the snowballing demand for these constituents from the packaging industry, together with the strong vehicle safety regulations, is helping the industry grow.

Amongst all technologies, water-borne adhesives had the largest share, of 50%, in the adhesives and sealants market in 2021. These kinds of adhesives, also called water-based adhesives, are formed with a combination of water, polymers, and additives. They are appropriate for both permeable and non-permeable materials and used in the manufacturing of a wide range of products, including home appliances, books, medical tapes, and packaging. Moreover, since they are low on VOCs, they are not hazardous to the environment.

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Key Findings of Adhesives and Sealants Market Report

• The availability of bio-based adhesives and sealants is likely to generate countless opportunities for the market players. Due to the increasing ecological apprehensions, companies are evolving bio-based products to substitute chemical products.
• The usage of adhesives in healthcare applications is predicted to advance at the highest CAGR, of around 6% in the coming years. Medical-grade adhesives are used to fix catheters, needles, plastic enclosures, syringes, dialysis filters, blood bags, and tube connectors.
• The three kinds of adhesives regularly used in the healthcare industry are dissolvable, pressure-sensitive, and electrically conductive adhesives. Medical tapes, for example, make use of pressure-sensitive adhesives.
• The silicone category is projected to have the largest revenue share, of over 40%, in the adhesives and sealants market in 2030. This ascendency can be credited to the capability of these adhesives to endure extreme temperatures, isolating qualities, high levels of resilience, water repulsion, thermal stability, and little chemical reactivity.
• APAC made the highest revenue in the adhesives market in 2021 because of the growing economies and infrastructure investments, expanding purchasing power, and moving of adhesive & sealant production from developed counties to APAC.
• Conversely, Europe had the largest revenue share in the sealants industry in 2021. The industry is likely to grow at a CAGR of approximately 4.0%, as many top car manufacturers, for instance, Audi AG and Daimler AG, have production units here.

A significant trend in the adhesives and sealants market is the growing penetration of electric vehicles around the globe. As per the International Energy Agency, new registrations of electric cars reached 3 million in 2020. Furthermore, the global electric car stock hit the 10-million mark in 2020. With the rising need to reduce the vehicle weight further, traditional fasteners, such as nuts and bolts, are being replaced with adhesives & sealants.

Browse detailed report on Global Adhesives and Sealants Market Size, Industry Shares, Global Growth and Analysis 2022 To 2030

The major players are progressively engaging in partnerships and launching new products to consolidate their position.  For example, in September 2021, Henkel AG & Co. KGaA and Pregis LLC publicized a partnership to develop advanced protective packaging, to achieve environmental goals. Other key players are The Dow Chemical Company, PPG Industries Inc., Sika AG, 3M Company, Arkema Group (Bostik SA), H.B. Fuller Company, and Avery Dennison Corporation.

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