Adhesives & Sealants Market to Reach Value of USD 33.3 Bn by 2030, Notes TMR Study

• The adhesives & sealants market is projected to expand at a CAGR of 8% during 2020–2030
• Rising products demand from electric vehicles manufacturers is anticipated to fuel the growth prospects in the adhesives & sealants market
• Presence of considerable number of product consumers in China is helping Asia Pacific maintain prominent market position

WILMINGTON, Del., Sept. 23, 2022 /PRNewswire/ -- The global adhesives & sealants market is prognosticated to reach a value of USD 33.3 Bn by the end of 2030, notes a review by Transparency Market Research (TMR). Besides, the TMR outlook that the market for adhesives & sealants is expected to expand at a CAGR of 8% during the forecast period, from 2020 to 2030.

The adhesives & sealants market in Asia Pacific is projected to expand at notable pace during the forecast period. The growth of the Asia Pacific market is ascribed to many factors including rising products demand from varied end-use industries from the region. This aside, China is anticipated to maintain its leading position in the regional market during the forecast period owing to many factors including the presence of advanced assembling base, easy availability of natural substances, and presence of sizable consumer base in the country.

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Adhesives & Sealants Market: Key Findings

• The popularity of adhesives is being increasing in the recent years owing to their different properties such as high shear and rigidity. Hence, the utilization of adhesives is being rising for holding as well as holding-related applications. Moreover, sealants are being used to fill holes and restrain the general growth of substrates. While these products hold lower strength in comparison with adhesives, they are gaining traction owing to their quality of adaptability, states a TMR study on the global adhesives & sealants market.
• Adhesives and sealants find application in appliance manufacturing, electronics & electrical, battery production, aerospace manufacturing, and automotive assembling. During the airplane manufacturing, adhesives & sealants are being applied across the outside, inside, and motor compartments of the airplanes. Rising demand for different aviation adhesives such as epoxies, cyanoacrylates, and acrylics is boosting the growth prospects in the global adhesives & sealants market.
• The market demand for adhesives & sealants is anticipated to increase in the forthcoming years owing to rise in their use in electronic items, machines, and batteries. This aside, these products are being utilized in the electric vehicles. Hence, rising adoption of electric vehicles globally owing to increasing awareness about environmental concerns is expected to drive the business prospects in the global adhesives & sealants market in the near future.
• Key vendors in adhesives & sealants market are focusing on the expansion of their businesses in newer regions. Hence, they are using different strategies including mergers, acquisitions, and partnerships. Such initiatives are projected to impact positively on the future of adhesives & sealants market, state analysts at TMR. This aside, rising R&D efforts of players in order to improve the quality of their products is expected to help in the overall market growth, note a TMR assessment that provides in-depth insights on trends in the adhesives & sealants market.

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Adhesives & Sealants Market: Growth Boosters

• Rising products use in the manufacturing of airplanes is boosting the sales growth in the market
• Increase in the demand for electric vehicles is anticipated to fuel demand growth in the market for adhesives & sealants

Adhesives & Sealants Market: Key Players

Some of the key players profiled in the report are:

• RPM International Inc.
• Illinois Tool Works Inc.
• Sika AG
• KGaA
• Dow Inc
• The 3M Company
• Henkel AG and Co.
• H.B. Fuller Company
• Avery Dennison Corporation
• Ashland
• KCC Corporation
• Huntsman International LLC
• Bostik SA

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Adhesives & Sealants Market Segmentation

Adhesive Type

• Acrylic
• Epoxy
• Poly Vinyl Acetate (PVA)
• Polyurethane (PU)
• Styrenic Block
• Ethyl Vinyl Acetate (EVA)
• UV Adhesive
• Silicone
• Others (including Cyanoacrylate and Hot-melt)

Sealant Type

• Acrylic
• Epoxy
• Poly Vinyl Acetate (PVA)
• Polyurethane (PU)
• Modified Silane Polymer (MS)
• Silicone
• Others (including Cyanoacrylate and Hot-melt)

Application

• Electronics & Electrical
• Appliance Manufacturing
• Aerospace Manufacturing
• Battery Production
• Automotive Assembling
• Others (including Conformal Coatings and Wire Tracking)

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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SOURCE Transparency Market Research