Global adhesives and sealants market forecast with a CAGR of 5.89 percent through 2026
Dublin, Ireland – The “Adhesives & Sealants Market – Global Outlook & Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The adhesives and sealants market was valued at USD 50061.01 million in 2020, growing at a CAGR of 5.89% during the forecast period
The adhesives and sealants industry serves a significant purpose in numerous industries such as aerospace and defense, paper and packaging, construction, manufacturing, transportation, etc. The outburst of population and urbanization in developing countries such as China, India, Brazil, Indonesia, Mexico, Bangladesh, etc., has fostered the demand for adhesives and sealants by a considerable amount. Water-based adhesives and hot melt adhesives comprise more than 50% of the total demand in India.
The typical difference between an adhesive and sealant is that sealants offer lower strength and higher elongation than adhesives.
Water-based adhesives had the highest market share, followed by pressure-sensitive adhesives. The major factor of water-based adhesives popularity is the almost negligible emissions of VOCs. Thus, they offer an environment-friendly solution.
Silicone-based sealants have an excellent low-temperature movement capability and outstanding UV and heat stability. Major applications of such sealants are protecting glazing systems, insulating glass units to improve thermal performance, and missile impact and bomb blast situations. Thus, they have the highest share in the global sealants market.
The APAC emerged as the largest market for adhesives and sealants among all the regions. The rising population, rapid urbanization, increase in demands from the industries such as construction, electronics, packaging, medical and healthcare, etc., are propelling growth in the APAC adhesives and sealant market.
Germany is the largest market for adhesives and sealants in Europe. The major end-use sectors for adhesives and sealants in Europe are building and construction, paper and board, industrial assembly, and transportation.
Silicone-based sealants will dominate the sealants industry due to the numerous advantages they offer. The increased popularity of biobased adhesives has led to innovations and green adhesives and sealants;
Due to investments in the non-oil sectors in the middle eastern countries, the demand for adhesives and sealants is expected to grow rapidly.
The key adhesive and sealants market companies are Henkel, H.B. Fuller Arkema S.A, Avery Dennison, and 3M.