Apr 20, 2022   SOURCE: BusinessWire

The Worldwide Adhesives & Sealants Industry is Expected to Reach $85.8 Billion by 2026 - ResearchAndMarkets.com

The "Global Adhesives & Sealants Market by Adhesive Formulating Technology (Water-based, Solvent-based, Hot-melt, Reactive), Sealant Resin Type (Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl), Application, Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The adhesives & sealants market is projected to grow from USD 71.4 billion in 2021 to USD 85.8 billion by 2026, at a CAGR of 3.7% between 2021 and 2026.

Paper & packaging segment is projected to be the largest application of adhesives

Paper & Packaging is the largest application segment, in terms of both volume and value, in 2020. This is because of the increased use of adhesives in a wide variety of paper bonding applications ranging from corrugated box construction and the lamination of printed sheets to packaging material used for all types of consumer products and the production of large industrial tubes and cores used by manufacturers of roll goods and other materials. The increased demand for flexible packaging will play an important role in driving the adhesives market.

Automotive & transportation is the fastest-growing application of the sealants market

Automotive & transportation application is the fastest-growing segment, in terms of volume, between 2021 and 2026. Growing transportation industry is driving the sealants market. Sealants are replacing mechanical gaskets owing to their resistance to corrosion and chemicals. The popular sealants used for automobiles include polyvinyl, polyurethanes, silicones, and other elastomeric rubbers. The increasing use of plastics, composites, and fibers in automobile manufacturing has aided the growth of the sealants market, as plastics cannot be welded.

Asia Pacific is the fastest market for adhesives & sealants during the forecast period

Asia Pacific is projected to be the largest and the fastest-growing market for adhesives & sealants during the forecast period. Asia Pacific is an emerging market in terms of demand for adhesives & sealants. China and India have been the driving forces behind the rapid development of the market in Asia Pacific, as well as globally. The growth in these countries is attributed to high economic growth and heavy investments in the packaging and automotive & transportation sectors.

Market Dynamics

Drivers

  • Increased Demand for Adhesives in Medical Industry
  • High Demand for Adhesives & Sealants from Building & Construction Industry
  • Growth in Appliance Industry

Restraints

  • Environmental Regulations in North America and Europe

Opportunities

  • Increased Industrial Activity due to Globalization
  • Greater Opportunities in Asia-Pacific and the Middle East
  • Rising Requirement for Non-Hazardous and Sustainable Adhesives
  • Development of Hybrid Resins to Manufacture High-Performance Adhesives & Sealants

Challenges

  • Shifting Rules and Changing Standards

Companies Mentioned

  • 3M
  • Adhesives Research Inc.
  • Akzonobel N.V.
  • Arkema (Bostik)
  • Avery Dennison Corporation
  • Delo Industrie Klebstoffe GmbH & Co. KGaA
  • Dow Inc.
  • Dymax Corporation
  • Franklin International
  • H.B. Fuller
  • Henkel Ag
  • Huntsman Corporation
  • Illinois Tool Works Inc.
  • Jowat Se
  • Mapei Corporation
  • Master Bond Inc.
  • Meridian Adhesives Group
  • Parker Hannifin Corp (Parker Lord)
  • Pidilite Industries
  • Ppg Industries
  • Rpm International Inc.
  • Sika Ag
  • Soudal Group
  • Wacker Chemie Ag

For more information about this report visit https://www.researchandmarkets.com/r/cgmd9l.