Adhesives and Sealants Market to Surpass USD 114 Billion Valuation by 2031, Sustainability to Play a Crucial Role in Future Market Expansion | SkyQuest
WESTFORD, Mass., July 16, 2024 /PRNewswire/ -- According to SkyQuest, the global, Adhesives and Sealants Market size was valued at USD 67.48 billion in 2022 and is poised to grow from USD 71.5 billion in 2023 to USD 114 billion by 2031, growing at a CAGR of 6.0% in the forecast period (2024-2031).
Adhesives and sealants are extensively used across multiple industry verticals for numerous bonding and joining applications. Advancements in adhesive technologies and growing demand for sustainable products are key factors augmenting the global adhesives and sealants market development. Adhesives and sealants companies are expected to primarily target the development of adhesives and sealants that are free from volatile organic compounds (VOCs). The global adhesives and sealants market is segmented into type, resin type, end user industry, and region.
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Adhesives and Sealants Market Overview:
Report Coverage |
Details |
Market Revenue in 2023 |
$ 71.5 billion |
Estimated Value by 2031 |
$ 114 billion |
Growth Rate |
Poised to grow at a CAGR of 6.0% |
Forecast Period |
2024–2031 |
Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Adhesive Technology, Adhesive Application, Sealant Resin Type and Sealant Appliction |
Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Report Highlights |
Updated financial information / product portfolio of players |
Key Market Opportunities |
High demand for sustainable adhesives and sealants |
Key Market Drivers |
Rising demand for infrastructure development and growing use of adhesives and sealants in the construction industry |
Segments covered in Adhesives and Sealants Market are as follows:
- Adhesive Technology
- Water-Based Adhesives (PVA Emulsion Adhesives, Acrylic Polymer Emulsion Adhesives, VAE Emulsion Adhesives, SBC Latex Adhesives, Others), Solvent-Based Adhesives (Polyurethane Adhesives, Acrylic Adhesives, Chloroprene Rubber (CR) Adhesives, Polyvinyl Acetate (PVA) Adhesives, Polyamide Adhesives, Synthesized Rubber Adhesives, Others), Hot-Melt Adhesives (Ethylene-vinyl Acetate (EVA) Adhesives, Styrenic Block Copolymer (SBC) Adhesives, Metallocene Polyolefin (MPO) Adhesives, Polyolefin Adhesives, Amorphous Poly-alphaolefin (APAO) Adhesives, Others), Reactive & Others (Polyurethane Adhesives, Epoxy Adhesives, Others)
- Adhesive Application
- Paper & Packaging, Building & Construction, Woodworking, Automotive & Transportation, Consumer & DIY, Leather & Footwear, Assembly, Electronics, Medical, Others
- Sealant Resin Type
- Polyurethanes, Silicone, Plastisol, Emulsion, Polysulfide, Butyl, Others
- Sealants Application
- Building and Construction, Automotive & Transportation, Consumer, Others
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Eco-friendly Nature of Water-based Adhesives and Sealants Makes them Popular
Water-based adhesives and sealants are highly popular among many applications such as construction and packaging. The eco-friendly nature of such adhesives and sealants is what has made them a popular choice for almost all end users around the world. Ban on the use of toxic chemicals to make adhesives and sealants is also a key factor that is projected to help this segment bolster market growth over the coming years. High emphasis of governments and organizations to promote sustainability will also promote the sales of water-based adhesives and sealants in the future.
Better adhesive and sealing capabilities of solvent-based adhesives and sealants are making them popular. More and more companies are investing in the development and manufacturing of solvent-based adhesives and sealants to capitalize on their growing demand going forward. The automotive and aerospace industries are key industry verticals, where the demand for high-performance solvent-based adhesives and sealants is rising at a notable pace.
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High Demand for Infrastructure Development Pushing Adhesives and Sealants Sales in Building and Construction Applications
Building and construction activities are changing with the adoption of novel practices to promote sustainability and keep the costs minimal. From flooring to roofing, all construction applications utilize adhesives and sealants in some or other form. Advancements in material technology and the use of novel construction approaches are also forecasted to help adhesives and sealants companies maximize their business scope in the long run. High emphasis on sustainability is also expected to create new opportunities for adhesives and sealants providers in this industry vertical over the coming years.
Polyurethane Adhesives and Sealants to Remain Popular for Their High Durability
Polyurethane adhesives and sealants are highly preferred in almost all industry verticals owing to their high versatility and durability for multiple applications. High adhesive strength and flexibility offered by polyurethane is also a key factor that helps this segment hold a high share of the global adhesives and sealants market.
The global adhesives and sealants market is highly opportune and offers attractive opportunities for new as well as established companies. Innovation and sustainability are expected to be key factors determining the success of any adhesives and sealants company going forward.
Related Reports:
Automotive Adhesives and Sealants Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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SkyQuest Technology
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USA (+1) 351-333-4748
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SOURCE SkyQuest Technology
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