PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389862
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389862
The global adhesives and sealants market is poised for remarkable growth, with projections indicating that it will surge from its 2022 valuation of approximately $76.1 billion to an impressive $104.2 billion by 2030. The market is expected to achieve a steady CAGR of 4.6% between 2023 and 2030.
Key Market Trends
Key Growth Drivers
Increased Demand for Water-Borne Adhesives Across Industries: The global adhesives and sealants market is witnessing substantial growth due to the rising demand for water-borne adhesives across diverse industries. These adhesives are preferred for their eco-friendly nature and low VOC content, making them suitable for applications in industries like packaging, construction, automotive, textiles, and healthcare.
Soaring Popularity of Silicone Sealants: Silicone sealants are expected to drive significant market expansion within the adhesives and sealants industry. Their outstanding durability, flexibility, and resistance to extreme conditions make them indispensable in construction, automotive, electronics, healthcare, and consumer goods sectors.
Technological Advancements and Innovations: Continuous technological advancements and innovation are key drivers of market growth. Innovations include eco-friendly adhesives, bio-based adhesives, self-healing smart adhesives, and adhesives compatible with advanced materials like composites and nanomaterials.
Major Growth Barriers
Volatile Raw Material Prices: Fluctuations in the prices of key raw materials, such as petrochemical-based compounds, resins, and solvents, impact production costs for adhesive and sealant manufacturers, leading to challenges in maintaining stability and competitiveness.
Lengthy Curing and Drying Time: Lengthy curing and drying times for certain adhesives and sealants can disrupt production cycles, especially in industries where quick assembly or repair is critical, such as automotive and electronics.
Regional Front-runners
The Largest Share in Asia Pacific: Asia Pacific continues to be the dominant revenue-contributing region in the global adhesives and sealants market, driven by robust industrialization, manufacturing expansion, urbanization, and economic growth.
North America's Emphasis on Water-Borne Adhesives: North America is expected to witness significant growth in the water-borne adhesive category due to sustainability efforts, environmental regulations, and the desire to reduce VOCs in industries like packaging, construction, and automotive.
Competitive Landscape Analysis
Leaders in the Global Adhesives and Sealants Market