The adhesives and sealants market is set to grow at almost 5% CAGR according to a market research report from P&S Intelligence. The adhesives and sealants market was valued at $66,649.9 million in 2021, and it will propel at a CAGR of 4.9% during 2021–2030, to reach $102,604.3 million by 2030.
Europe held the largest revenue share in the sealant industry in 2021 and is expected to grow at a CAGR of around 4.0%, largely thanks to the car manufacturing based in the region.
The overall sealant and adhesive industry is growing primarily because of the increasing product application in the construction and automotive industries, plus higher demand from the packaging industry, together with the strong vehicle safety regulations.
Amongst all technologies in the adhesives and sealants market in 2021, water-borne adhesives had the largest share at 50%. These kinds of adhesives are appropriate for both permeable and non-permeable materials and used in the manufacturing of a wide range of products, including home appliances, books, medical tapes, and packaging. Moreover, since they are low on VOCs, they are not hazardous to the environment.
The development of bio-based adhesives and sealants is expected to create immense opportunities for the players operating in the market. Due to the rising environmental concerns, companies are developing bio-based products to replace chemical-based products.
The silicone category is expected to hold the largest revenue share, over 40%, in 2030. This dominance can be attributed to the ability of silicone adhesives and sealants to withstand high and low temperatures, insulating qualities, high durability, water repulsion, strong thermal stability, and low chemical reactivity.