Adhesives and sealants market size was valued at USD 68.65 bn in 2023 and is projected to grow from USD 111.82 bn in 2033 at a CAGR of 5.0% during the forecast.

NEW YORK CITY, NEW YORK, UNITED STATES, January 12, 2023 /EINPresswire.com/ -- Key Market Insight:

The global adhesives and sealants market size was valued at USD 68.65 billion in 2023. The market is projected to grow from USD 111.82 billion in 2033 exhibiting a CAGR of 5.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with adhesives and sealants experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

This report contains historical data and forecasts revenue growth at the global, regional, and country levels. It also analyzes industry market dynamics and potential opportunities. This research report provides an in-depth analysis of the industry and focuses on key aspects like leading companies, technologies, and resins. It also provides insights into the global adhesives and sealants market trends as well as highlights important industry developments. The report covers many factors that have contributed to the market's growth over the past few years, in addition to those mentioned.

Latest Trends:

Adhesive tape is the new trend in the market due to its fast working time, flexibility, and quick bonding property. These tapes are becoming a preferred choice for engineers in different fields, ranging from automotive to aviation. Adhesives act as an alternative to mechanical fasteners for all kinds of assemblies and also can be formulated with multiple viscosities as well as drawn into films and tapes according to requirements. Additionally, these are gaining popularity, owing to the low labor costs and production costs.

Learn more about the Research Methodology:- https://market.us/report/adhesives-and-sealants-market/request-sample/

Key Segmentation :

By Product
Silicone
Acrylic
Epoxy
Polyurethanes
Other Products

By Application
Construction
Packaging
Consumers
Automotive
Other Applications

competitive landscape of the Market:
The 3M Company
Ashland Inc.
H.B. Fuller Company
Huntsman International LLC
Henkel AG & Co. KGaA
Eastman Chemical Company
LORD Corporation
Arkema S.A.
Avery Dennison Corporation
RPM International Inc. Company Profile
Permabond LLC
Sika AG
Jowat SE
Dow Inc.
Wacker Chemie AG
Pidilite Industries Ltd.
Other major players

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Driving Factor:

Growth in Medical Industry is Expected to Drive Growth in Adhesive Market

The global healthcare sector has expanded significantly over the past few decades. As a result, all associated industries, including medical adhesives have flourished. The field of medical adhesives is vast in terms of options and applications, ranging from silicones and epoxies to acrylic-based adhesives. Medical adhesives have thrived as new medical treatments and technology have emerged, incorporating themselves into the designs of numerous medical equipment. Medical adhesives, owing to their diverse functionality, are now used to reliably bond components using materials that were previously difficult to bond in assembly manufacturing processes. The emergence of the COVID-19 pandemic has emphasized the importance of a robust healthcare system. People all around the world are becoming more conscious and aware of the healthcare services they receive. The healthcare industry is anticipated to expand during the forecast period, particularly in emerging economies, such as China and India, where the market is unexplored and has enormous growth potential. The expanding global healthcare industry will, in turn, benefit and drive the growth of the medical adhesive market.

Restraining Factor:
Excessive Amount of Chemicals Used in the Production of Adhesives and Sealants is Hampering Market Growth

The application of adhesives and sealants emits abundant chemical gases, which are considered to be harmful and hazardous when inhaled. Thus, the regulations imposed on their usage are becoming stricter. Moreover, the rising consumer awareness about health and the environment has become a prominent concern for manufacturers. According to the Vice President of Emerald Performance Materials, “The regulatory landscape is creating significant challenges for the industry. Environment protection agencies, such as the U.S. Environmental Protection Agency, are taking different measures and are placing more hurdles and restrictions on manufacturers.”

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