Adhesives and Sealants Market Projected to Reach $85 Billion by 2030
The global adhesives and sealants market is projected to reach $85 billion by 2030, growing at a compound annual growth rate of 5.1% from 2021 to 2030. Key growth drivers include demand from the construction and packaging sectors.
The global market for adhesives and sealants is expected to reach $85 billion by 2030, according to a new report by Allied Market Research. The market, valued at $51.9 billion in 2020, is forecast to expand at a compound annual growth rate (CAGR) of 5.1% between 2021 and 2030.
Growth is primarily driven by increased demand from the construction and packaging industries. Adhesives and sealants are essential in various applications, from bonding building materials to sealing packaging, due to properties like high tensile strength and moisture resistance. The construction sector represented the largest market share in 2020.
The packaging sector's growth, fueled by rising hygiene awareness, also contributes significantly. The Asia-Pacific region is anticipated to see the highest CAGR, supported by robust activity in construction, packaging, and the automotive sectors.
While regulations and health concerns related to volatile organic compounds (VOCs) in manufacturing have posed challenges, the emergence of green and sustainable adhesive and sealant solutions presents considerable opportunities for future market expansion.