The rising demand in the automotive, aerospace, and construction sectors for adhesives and sealants are one of the key growth drivers of the market.
The global adhesives and sealants market size is expected to be worth about U.S.$ 80 billion by 2027 — with registered CAGR of around 5.1%. This is according to Acumen Research and Consulting, a global provider of market research studies.
In a recent report, “Adhesives & Sealants Market — Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027,” the primary driving force affecting the growth of this industry is an increasing demand for it in applications relating to the automotive, packaging, and building or construction sectors.
For applications such as aerospace and automotive, the benefit of using adhesives and sealants is primarily to minimize an application’s weight. Adhesives are far less heavy than mechanical fasteners and components. So, more typically now, conventional linking methods are replaced by adhesives, which allow a finished component to be lightweight yet durable.
The automobile industry is also substituted by products, such as adhesives and displays, for the welding activities of the assembly of engine parts that improve fuel efficiency by weight decrease.
In recent years, several organizations have chosen glass manufacturing infrastructures to enhance the look and appearance, so large glass panels that require sealants to ensure a weatherproof surface are required.
Owing to advanced methods of manufacturing and technologies, adhesives are also commonly employed in the disposable medical device field. Innovation in medical practices and the aging population tends to cause the adhesives and sealants demand rise.
Segmentation outlook
The automotive adhesive market is anticipated to grow at a fastest CAGR amid the forecast phase. Strict U.S. fuel consumption requirements have forced big auto makers to reduce the weight of cars that boost demand. In addition, the segment is projected to be powered by the growth of the auto industry in BRIC countries over the forecast timeframe.
Sealant packaging retained a considerable market share in 2019 in terms of value. With the advent of lightweight packaging, creativity in packaging is at its height. In the packaging business, sealants are used to ensure a sealed container is maintained during storage, shipment, and usage Asia Pacific is expected to improve the use of sealants by the increasingly expanding packaging industry.
The growth of the global adhesives and sealants market may be impeded, however, by the availability and volatile cost of raw materials.
Learn more and download the report here.
Filed Under: Automotive
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