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    Paint and Coating Market ReportsIndustry News

    Adhesives and Sealants Market to Surpass $114 Billion by 2031

    Adhesives and Sealants Market to Surpass $114 Billion Valuation by 2031.jpg

    Image courtesy of SkyQuest. 

    July 19, 2024

    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.

    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

    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.

    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.

    View report summary and Table of Contents (TOC):    https://www.skyquestt.com/report/adhesives-and-sealants-market. 


    KEYWORDS: adhesive and sealant industry adhesives and sealants adhesives and sealants market

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