Adhesives and Sealants Market to Cross a Value of USD 79.8 Billion by 2028, at a CAGR of 5.6 % from 2022-2028 Thanks to Rising Product Demand in Construction Industry
SkyQuest’s Adhesives and Sealants Market research report provides in-depth analysis of market size, share, revenue, volume and trends. It is a comprehensive research report as it accurately portrays the dynamics of the global market including industry growth trends, technological assessment, growth dynamics, regional areas, product pipeline, product portfolio, and competitive scenario.
WESTFORD, U.S., Feb. 02, 2023 (GLOBE NEWSWIRE) — Asia Pacific takes leadership position in adhesive and sealant market due to rapid progress in the building and construction industry, where the product has significant application. The market has witnessed tremendous growth due to the increasing trend towards lightweight, low-carbon cars. Sales of high-performance adhesives have also increased as lightweight passenger cars with better fuel economy and reduced emissions become more popular. Additionally, the need for adhesive packaging materials is likely to be driven by the growing presence of bargain stores and strong potential for grocery shopping. Such a trend will undoubtedly have a positive impact on the long-term growth of the market.
According to a recent study by SkyQuest, the world’s leading economies will invest an average of $3.4 trillion annually in infrastructure through 2030 to support goals for global economic growth and provide advanced facilities to citizens. This factor could create tremendous opportunities for players operating in the Adhesives & Sealants market.
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Adhesives are substances that connect at least two surfaces firmly and permanently. Materials known as sealants adhere to at least two surfaces and fill the space between them to form a barrier or protective layer. Both adhesives and sealants are manufactured using comparable techniques and materials and are versatile. Materials known as sealants are semi-solid and are primarily used to stop liquid leaks.
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Prominent players in the Adhesives and Sealants market
The packaging segment is experiencing increasing demand from various industries
With a revenue share of 27% in 2022, the packaging segment dominated the adhesives and sealants market. High cohesive strength and weather resistance are two properties that sealants offer. The properties of the product indicate its widespread use in the packaging and food delivery industries, driving the expansion of the sealant market. In addition, due to their extensive use in the food industry, sealants offer resistance to UV rays, cold resistance for freezer packaging and blocking resistance for liquid products. These characteristics contribute to the expansion of the market.
Asia Pacific led the adhesives and sealants market with a share of 43% in 2022. The increasing demand from sectors like electronics, construction and packaging in countries like China, India and Japan. Flexible packaging has become increasingly popular among manufacturing companies because it is lightweight and makes it easy to sell items in different quantities without significantly increasing packaging costs, as is the case with metal or glass packaging. To attract customers, industries such as food and beverage, cosmetics and consumer products are constantly introducing new items, increasing production and using eye-catching packaging.
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The building and construction segment will remain dominant globally due to huge investments in infrastructure development
The construction sector had a 43% share of the adhesives and sealants market in 2022. The segment is expanding and continues to see significant increases in sales thanks to a growing demand for construction materials, which increases demand for sealants and in turn drives market expansion. Adhesives are used in a variety of places including floors, glazing, walls, ceilings and windows; As a result, the market will increase as the construction sector develops.
The manufacture of chemical and petroleum-based products is tightly regulated by environmental laws in Europe and North America. The manufacture of solventborne products in these regions is regulated by government agencies such as the Epoxy Resin Committee (ERC) and the European Commission (EC). It affects the production capacities of companies in North America and Europe. The strict environmental regulations are forcing manufacturers to concentrate on producing environmentally friendly adhesives.
The research report on Adhesives and Sealants Market will serve as an important resource and guide for strategic planning for market players. The report provides key insights into industry trends, anticipated opportunities and future product launches by leading companies.
Key developments in the adhesives and sealants market
HB Fuller, a leading supplier of adhesives, announces the launch of Swift®melt 1515-I, its first biocompatible product to be approved in IMEA (India, Middle East and Africa). The article is intended for medical adhesive tape applications that occur in certain climate zones, e.g. B. the hot and humid conditions in the Indian subcontinent, are to be used. Swift®melt 1515-I provides an efficient, high-tack bond that is secure, fast, and resistant to temperature and shear.
Leading provider of AI software for the design of materials, chemicals and industrial goods, Citrine Informatics, announces the closing of a $16 million Series C investment round. Drive Catalyst, Alumni Ventures, ISAI Cap Venture, Presidio Ventures and other investors joined the round led by Prelude Ventures and Innovation Endeavors. The recent funding round will be used to accelerate the expansion and development of Citrine’s AI-driven materials and chemical design platform.
Scott Bader (Wellingborough, UK) and Elixir (Bengaluru, India) have worked together to distribute Crestabond structural adhesives across India. The company’s plan to promote the Indian composites market is reflected in the announcement. The company operates throughout the country and offers high-tech adhesive solutions. It also offers a full line of high-quality automatic dispensers and portable dispensers to complement its merchandise.
Meridian Adhesives Group (Meridian) announced the acquisition of Design Polymerics, a manufacturer of high-performance sealants, adhesives and insulating compounds. Thanks to its diverse product offering, commitment to sustainability, technological expertise and strong customer relationships, the company has managed to become a leader in HVAC, insulation and indoor air quality.
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Important Key questions answered in Adhesives and Sealants market report
What is the expected CAGR and valuation for the global market?
What are the key drivers and key challenges in the target market?
What global events had a major impact on market growth?
What lucrative opportunities are there in the major regional markets?
Who are the key manufacturers in Adhesives and Sealants market space?
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