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The global adhesives and sealants market size stood at USD 76.08 billion in 2022. The market value is slated to rise from USD 79.38 billion in 2023 to USD 108.64 billion by 2030 at a CAGR of 4.6% during 2023-2030. Fortune Business Insights™ presents this information in its report titled “Adhesives and Sealants Market Size, Share & COVID-19 Impact Analysis, By Adhesive Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive, and Others), End-use Industry (Paper & Packaging, Building & Construction, Woodworking, Consumer/DIY, Automotive & Transportation, Leather & Footwear, and Others)], By Sealant Resin (Silicone, Polyurethane, Emulsion, Polysulfide, and Others), End-use Industry (Building & Construction, Automotive & Transportation, Consumer, and Others)], and Regional Forecast, 2023-2030”.
Adhesives and sealants are extensively deployed across various industries, which include aerospace, automotive, construction, and electronics. The launch of new design techniques and technologies is expected to drive product adoption in the construction sector, boosting industry growth.
Diversion of Raw Materials toward Essential Goods’ Production Hampered Industry Expansion during COVID-19 Pandemic
The pandemic period witnessed the diversion of raw materials toward the production of essential goods such as cleaning products and sanitizers. Besides, the construction industry, which is a major consumer of the adhesives and sealants, was severely impacted on account of lockdown restrictions. These factors restrained the market growth during the pandemic.
Arkema Concluded its Takeover of Ashland’s Performance Adhesives Division
In February 2022, Arkema finalized the takeover of the performance adhesives business owned by Ashland. The move signified a key step in the company’s plan to strengthen its adhesive solutions segment.
According to Arkema, the strengthened segment would play a critical role in implementing its ambition of emerging as a leading player in the innovative materials space.
Market Value to Surge with Growing Adhesive Tapes Adoption in Engineering Application
One of the key factors driving the adhesives and sealants market growth is the soaring deployment of adhesive tapes across a range of engineering applications, including aviation, automotive, and others. The products are gaining traction driven by the low costs of production and labor. The tapes serve as an alternative to mechanical fasteners for various assemblies.
However, the enforcement of stringent environmental regulations associated with the product deployment may hinder the industry expansion.
Market Players Develop Robust Regional Presence to Maintain Industry Positions
Industry players are keen to adopt numerous steps for maintaining their market positions. In a bid to achieve this objective, adhesives and sealants companies are developing new products and strengthening their distribution channels. In addition, market players are also establishing a strong presence at the regional levels.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/adhesives-and-sealants-market-101715
List of Key Players Profiled:
Key Industry Development
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 4.6% over 2023 to 2030 |
Unit | Volume (Kilo Tons), Value (USD Billion) |
Segmentation | By Adhesive Technology
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By Adhesive End-use Industry
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By Sealant Resin
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By Sealant End-use Industry
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By Region
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