Adhesives and Sealants Market Overview:
The global market report on the Adhesives and Sealants Market is showing substantial promise to register a strong CAGR of 7% during the forecast period of 2022 to 2030. Market Research Future (MRFR) reveals that there are factors that will help the market to surpass the predicted valuation by 2030.
Among factors, rising urbanization and industrialization are leading several industries ahead like the construction sector and pressure-sensitive products, automotive industry, and others from which the adhesives and sealants industry are expected to benefit substantially. With emerging countries spending more on infrastructure, the chances of growth for the market would be higher. On the other hand, the market may find obstruction in growth due to the use of chemicals and stringent environmental laws. But bio-friendly methods may trigger changes and bring back the market on the track.
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Segmentation:
The global market for adhesives & sealants has been studied on the basis of technology, product, and application. These segments have data that can be analyzed in the future to understand the momentum of the market and plan strategies accordingly to increase the profit margin.
By technology, the global report on the adhesives and sealants market has been segmented into solvent, hot melt, water, and reactive-based segments. The water-based segment is gaining speed owing to the rising need for eco-friendly products. The solvent segment has a substantial market contribution.
By product, the global report studying different segments of the adhesives and sealants market includes polyurethane, polyvinyl acetate, acrylic, epoxy, and others. The acrylic segment is getting good traction from various end user industries. The polyurethane segment is also benefiting from the growing interests shown by automobile and other industries.
By application, the global report discussing the adhesives and sealants market has been segmented into construction, pressure-sensitive, packaging, furniture, automotive, and others. The construction sector is getting substantially backed by the changes in the global economy and increasing urbanization. These reasons have created space for the end users to promote scopes for the market to expand its prospects.
The Asia Pacific region would scale newer heights by getting thrust from several end user industries like automotive and construction. The region is supporting these industries a lot to revive the economies. India, China, Japan, South Korea, and others are spending substantially on the development of these products.
Key Players
MRFR listed some eminent players that are operating in the global adhesives and sealants Vendor Strategies. They are
AVERY DENNISON CORPORATION (U.S.)
Ashland (U.S.)
BOSTIK SA (France.)
Beardow Adams (U.K.)
Eastman Chemical Company (U.S.)
The Dow Chemical Company (U.S.)
H.B. Fuller Company (U.S.)
Henkel AG & Co. KGaA (Germany)
and Ellsworth Adhesives (U.S.) among others.
Industry News:
The impact of COVID-19 across various manufacturing industries are expected to trouble the adhesives and sealants market to some extent. Industries like aerospace, automotive, and others are taking blows due to the lack of business, which may hamper the adhesives and sealants market growth. The global financial crisis due to this is bound to impact the construction sector, which will deter the market growth. On the other hand, the growing need for tools in the healthcare sector is expected to inspire the market growth. Several companies have launched extensive measures to manufacture various devices, which may create a need for the adhesives and sealants.
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In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
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