Adhesives and Sealants Market Unlocking Growth Exploring Future Market Size for New Opportunities

According to a report by Allied Market Research, the global adhesives and sealants market was valued at $51.9 billion in 2020 and is projected to reach $85.0 billion by 2030, with a compound annual growth rate (CAGR) of 5.1% from 2021 to 2030. The report offers a detailed analysis of top investment opportunities, winning strategies, drivers, opportunities, market size estimations, competitive landscape, and evolving market trends.

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Key drivers for market growth include technical advancements, increased research and development activities, leading to higher demand for a broad range of electrical and electronic devices, as well as increased government spending on the building and construction sector. However, factors such as health concerns due to prolonged exposure to volatile organic compounds (VOC) during manufacturing, regulatory pressures, and growing public awareness about health and environmental issues are likely to restrain market growth. Nevertheless, the emergence of non-hazardous and sustainable adhesives and sealants presents lucrative opportunities for market expansion.

The COVID-19 pandemic had a negative impact on the adhesives and sealants market, particularly due to the industry's reliance on sectors such as automotive, aerospace, building and construction, healthcare, and packaging. Shutdowns in various sectors, including automotive plants and construction projects, led to reduced demand. However, as the healthcare and packaging sectors showed signs of recovery, the adhesives and sealants market is expected to rebound.

The market is segmented by product type, application, and region. Adhesives accounted for the majority of the market share in 2020 and are expected to continue dominating through 2030. However, the sealants segment is projected to witness the fastest growth during the forecast period.

In terms of applications, the building and construction segment held the largest share in 2020 and is expected to maintain its lead through 2030, while the medical segment is anticipated to exhibit the fastest growth.

Geographically, Asia-Pacific dominated the market in 2020 and is expected to maintain its leadership position throughout the forecast period, with the region also experiencing the fastest growth rate. Other regions covered in the report include North America, Europe, and LAMEA.

Key players in the adhesives and sealants market include Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal, Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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