Adhesives and Sealants Market Size, Share, Forecast 2022-2028

1. Adhesives and Sealants Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2022-2028

2. Global Adhesives and Sealants Market - Industry Trends & Forecast Report, 2028 BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global adhesives and sealants market size at USD 65.27 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size of global adhesives and sealants market to grow at a CAGR of 5.4% reaching a value of USD 94.12 billion by 2028. Adhesives and sealants are made from comparable synthetic substances and innovations and are used in a similar range of applications. Changes in material consumption patterns, with highly durable materials replacing materials, such as aluminum, metal, and paper, act as major driving factors. 

3. Growth Drivers High demand for adhesives and sealants from construction and building sector Residential construction is being driven by population growth and urbanization in major developing countries, such as India, Indonesia, Vietnam, Brazil, and Mexico. In these countries, there is an increasing demand for permanent housing, which is driving the demand for adhesives and sealants. Adhesives and sealants are used in a variety of construction applications, including carpet, tiling, wallpaper, and exterior insulation systems. Curtain wall panels and insulating glass units are also held in place with adhesives and sealants.

4. Restraints  Stringent environmental laws in North America and Europe Environmental laws govern the production of chemical and petroleum-based products in Europe and North America. The manufacturing of solvent-based products in these regions is governed by organizations, such as the Epoxy Resin Committee (ERC) and the European Commission (EC). This has an impact on manufacturing capacity in Europe and North America. Environmental regulations are compelling manufacturers to focus on producing environmentally friendly adhesives. It is anticipated to limit the growth of global adhesives and sealants market.

5. Impact of COVID-19 The construction and automotive industries were adversely affected by the COVID-19 pandemic's onslaught. The lack of raw materials and logistical challenges were two factors that did not bode well for top companies preparing to expand their portfolios. Numerous projects, including those related to buildings, construction, and irrigation, were suspended or abandoned. However, the paper and packaging and healthcare sectors both started to demand adhesive products. The restart of economic activity in both emerging and advanced economies may spur industry expansion.

6. Regional Insights Geographically, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Due to rising domestic demand, rising income levels, and easy access to resources, APAC has become one of the top producing and consuming regions for adhesives and sealants. One of the biggest users of adhesives and sealants in this area is the automotive and transportation sector. The demand for adhesives and sealants in the building and construction industry is project to increase because of the economic growth in APAC, particularly in the emerging markets, such as India, Taiwan, Indonesia, Malaysia, Thailand, and Vietnam.

7. Competitive Landscape The global adhesives and sealants market is fiercely competitive, with prominent companies, such as 3M Company, Reckitt Benckiser Group Plc, Ashland Inc., Avery Denison Corporation, H B Fuller, Henkel AG, Sika AG, Pidilite Industries, Huntsman, WackerChemie AG, RPM International Inc., Arkema, Huntsman Corporation, Illinois Tool Works Inc., Dow Inc., KCC Corporation, and WackerChemie AG. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To further grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

8. Recent Development In February 2022 - Arkema completed the acquisition of Ashland’s Performance Adhesives business to boost its adhesive solution portfolio. In November 2020 - H.B. Fuller launched Full-Care 5885 to meet the industry’s growing demand for natural-based hygiene articles. In February 2020 - Henkel inaugurated its new production facility in Kurkumbh, India, near Pune, with a total investment of about USD 57 million.

9. Key Players3M Company, Reckitt Benckiser Group Plc, Ashland Inc., Avery Denison Corporation, H B Fuller, Henkel AG, Sika AG, Pidilite Industries, Huntsman, WackerChemie AG, RPM International Inc., Arkema, Huntsman Corporation, Illinois Tool Works Inc., Dow Inc., KCC Corporation, WackerChemie AG Sample Copy of the Report: https://www.blueweaveconsulting.com/report/adhesives-and-sealants-market/report-sample

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