Adhesives And Sealants Industry Overview
The global adhesives and sealants market size was valued at USD 63.79 billion in 2021 and is expected to reach USD 107.27 billion by 2030, at a CAGR of 5.9% from 2022 to 2030.
Changes in material consumption patterns, wherein materials, such as aluminum, metal, and paper, are being replaced by highly durable materials. This is anticipated to positively affect the products demand in packaging applications, over the next eight years.
Consistent demand for packaging products from the food & beverage industry is anticipated to remain the key driver for the market in the U.S. Additionally, the increasing presence of discount retailers in the U.S. and the high potential for grocery retail is likely to push the adhesive demand for packaging products. This, in turn, is likely to benefit the long-term growth of the market.
Gather more insights about the market drivers, restrains and growth of the Global Adhesives And Sealants Market
The paper & packaging application segment in the U.S. adhesives market is expected to emerge as the fastest-growing application segment at an estimated CAGR of 4.9% from 2022 to 2030. Increasing demand for bio-based products is expected to augment the demand for hot melt technology over the forecast period and contribute to the expansion of the paper & packaging segment.
The COVID-19 pandemic affected the adhesive & sealant products demand in the U.S. According to the government report, the GDP of the U.S. shrunk by 3.5% in 2020 from 2019, owing to a decline in the manufacturing output of end-use industries such as building & construction, automotive & transportation, aerospace & defense, packaging, and consumer. Overall, adhesives volume registered Y-O-Y growth of 0.4% in 2020.
Adhesives And Sealants Market Segmentation
Based on the Technology Insights, the market is segmented into Water based, Solvent based, Hot melt, Reactive & other.
Based on the Product Insights, the market is segmented into Acrylic, PVA, Polyurethanes, Styrenic block, Epoxy, EVA, Silicones, Polyvinyl acetate and Other.
Based on the Application Insights, the market is segmented into Paper & packaging, Consumer & DIY, Building & construction, Furniture & woodworking, Footwear & leather, Automotive & transportation, Medical, Assembly and Other.
Based on the Adhesives And Sealants Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).
Market Share Insights:
Key Companies Profile:
The global adhesives & sealants market is characterized by the presence of medium and large producers, which have local as well as international presences. These producers observed a reduction in demand during 2020, owing to the COVID-19 pandemic. Value chain at different levels witnessed different obstacles such as shortage of raw materials & labor, the halting of industrial production, etc.
Some prominent players in the global Adhesives And Sealants market include
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