(MENAFN- EIN Presswire) EINPresswire/ -- The global adhesives and sealants market is witnessing significant growth driven by rapid technological advancements, rising R&D activities, and increasing demand for a wide range of electrical and electronic devices. In addition, higher government spending on the building and construction sector further boosts market expansion.

According to a report published 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, registering a CAGR of 5.1% from 2021 to 2030. The study offers a detailed analysis of market dynamics, investment opportunities, competitive landscape, and emerging trends shaping the industry.

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Key Market Drivers and Opportunities

Growth in R&D initiatives and continuous technological innovation have expanded the use of adhesives and sealants across multiple industries, particularly electronics, construction, and automotive. However, health hazards linked to prolonged exposure to volatile organic compounds (VOCs) and stringent environmental regulations are expected to restrain market growth. On a positive note, the development of eco-friendly, sustainable, and non-hazardous adhesive and sealant formulations presents new growth avenues for industry players.

Segment Insights

By Product Type:

The adhesive segment dominated the market in 2020, accounting for over four-fifths of total revenue, and is expected to retain its lead through 2030. Meanwhile, the sealant segment is projected to register the fastest CAGR of 5.4% during the forecast period.

By Application:

The building and construction segment held the largest share in 2020, representing nearly one-third of the global market. The medical segment, however, is anticipated to grow at the highest CAGR of 6.0% through 2030.

By Region:

Asia-Pacific emerged as the leading regional market, contributing more than two-fifths of the global revenue in 2020. The region is also forecasted to exhibit the fastest growth rate of 5.6% throughout the forecast period, driven by robust infrastructure development and rapid industrialization.

Key Market Players

Prominent companies operating in the global 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. Ltd., Sika AG, The 3M Company, and Uniseal, Inc.

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About Us

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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