By 2031, the global adhesives and sealants market is projected to reach $87.2 billion, growing at a CAGR of 3.8% from 2024. The primary growth drivers include the increased use of adhesives in construction and rising demand in healthcare. Additionally, the packaging industry’s reliance on adhesives continues to grow, especially in developing economies. On the flip side, price volatility in raw materials may hinder growth.
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Emerging Market Opportunities:
The building and construction sectors in developing nations are seeing increased investment, which will likely create new opportunities. Similarly, the packaging industry’s need for high-performance adhesives is on the rise. However, challenges like stringent quality controls in manufacturing processes are still hurdles for market players.
Market Breakdown by Product and Application:
The market is segmented into adhesives (acrylic, cyanoacrylate, silicone, etc.) and sealants (such as polyurethane and silicone). The adhesives segment is forecasted to hold the lion’s share, driven by increasing demand from industries such as healthcare and paper packaging.
Adhesives Market Share:
In 2024, adhesives will hold 80% of the overall market. The benefits they offer—durability, versatility, bonding strength, and aesthetic appeal—have contributed to their widespread adoption in key industries. Innovations like H.B. Fuller’s bio-compatible adhesive, launched in 2023, further showcase the dynamic growth of this segment.
Applications in Packaging:
The paper and packaging sector is anticipated to account for 30% of the total market by 2024. Adhesives used in packaging play a critical role in protecting products from contaminants, as well as extending their shelf life. Additionally, lightweight and moisture-resistant packaging solutions are driving growth.
