Adhesives and Sealants Market is anticipated to rise at a CAGR of 5.1% from 202

Posted by omkar on October 9th, 2019

The Global Adhesives and Sealants Market size is estimated to be USD 58.60 billion in 2019 and is predicted to reach USD 101.28 billion by 2030 with a CAGR of 5.1% from 2020-2030.

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Adhesives and sealants are the substances that block the passage of fluids through the surface or joints. The function of adhesive is to hold the two surface together strongly for a longer period of time; whereas, sealants may be described as a substance that attaches two surfaces and then filling the spaces with a protective coating. The major applications of adhesives and sealants account to woodworking, leather and footwear industries, paper and packaging, automotive and transportation industry, building and Constructions, etc.

The research is still ongoing on the application of sealants in medical sciences; few studies have revealed that the sealants are the surgical glue can be used to seal the wounds in short span of time. Asia Pacific is considered to be the dominating leader of this market and is estimated to have the largest market share during the forecast years, owing to the elevating demand of the product from building and constructions and automobile industries, especially from the developing nations like India, China, South Korea, and others. Increasing research & development activities and the launch of the latest innovations are also liable in attracting the growth in the market size of adhesives and sealants.

The increasing demand for sealants address from the building and construction industries, advancements in automotive industries and the revolutionary changes in packaging industries are the prime reasons responsible for driving the growth of the Adhesives and Sealants market. In addition, the changing consumer preference towards hot melt adhesives coupled with the elevating demand for DIY projects is also responsible for increasing the market size of adhesives and sealants worldwide. Furthermore, the economic growth in Asia Pacific and the changing focus towards composites is also responsible for propelling the growth of the market.

However, the emission of VOC, strict environmental norms in North America and Europe and the fluctuating raw material prices serves to be the constraints of adhesives and sealants market. Moreover, the development of electric vehicles, growing demand for green, non-hazardous adhesives, and the development of hybrid raisins to serve the purpose of high-performance adhesives and sealants are responsible in creating great opportunities for this market. The major challenge faced by the market is due to the changing standards and changing crude oil prices.

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Competitive Landscape

The report covers comprehensive competitive analysis and profiles of major market players such 3M Company, Ashland Inc., Avery Dennison Corporation, BASF AG, Beardow & Adams (Adhesives) Ltd., Bostik SA, Dow Chemical Company, Eastman Chemical Company, Ellsworth Adhesives, H.B Fuller Company, Henkel AG & Co., Momentive Specialty Chemical Inc., N.D. Industries Inc., Sika AG, and Uniseal Inc.