According to the latest publication by Meticulous Research®, the adhesives and sealants market is projected to reach $87.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Request For Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5872?
Growth Catalysts:
Key drivers include the widespread use of adhesives in construction and the rising demand in healthcare applications. However, price fluctuations in raw materials could pose a risk to the market’s continued expansion.
Opportunities in Packaging and Construction:
The growing need for adhesives in packaging, especially in developing economies, is set to create new growth avenues. Additionally, increased investment in the building and construction industry will provide further opportunities for market players. Despite this, strict manufacturing process controls present challenges to growth.
Product Segmentation:
The market is divided into adhesives and sealants, with adhesives dominating the landscape in 2024. Adhesive types include acrylic, cyanoacrylate, polyurethane, and more. The sealants market also offers products like silicone and epoxy sealants.
Adhesives Leading the Way:
The adhesives segment will account for an 80% market share by 2024, driven by demand from packaging and healthcare industries. Adhesives are valued for their versatility, strength, durability, and ability to provide corrosion protection. These qualities make adhesives an essential component in various industries.
Industry Advancements: Notable
Companies are actively enhancing their offerings. For instance, H.B. Fuller launched a bio-compatible medical adhesive in January 2023, demonstrating the sector's innovation. This adhesive is known for its high-tack and quick bonding properties, even under extreme temperatures.
Packaging Industry Dominance:
The paper and packaging segment is expected to capture 30% of the market in 2024. Adhesives are critical for ensuring moisture resistance, dust protection, and extended product shelf life. Their role in packaging medications and other sensitive products is particularly notable.
Construction Sector Growth:
The building and construction industry is projected to exhibit the fastest growth rate, owing to the demand for adhesives in crack-filling and joint-sealing applications. The need for adhesives to enhance structural strength is also a key driver.
Regional Insights:
The Asia-Pacific region will maintain a 37% share of the market by 2024, with growing demand from automotive and packaging sectors. Notable investments by companies like DuPont and Henkel AG are contributing to the region's dominance. These companies are also expanding their production capacities in the region.
Leading Companies
The adhesives and sealants market is highly competitive, with major players including Cabot Corporation, Ashland Global Holdings, Avery Dennison, H.B. Fuller, Henkel, and Huntsman Corporation, among others. These companies are investing in research and development to bring innovative products to market and improve efficiency across various industries.
Buy Now: https://www.meticulousresearch.com/Checkout/42135130?
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research