Sealants Market is Projected to Worth USD 102.01 Billion at a CAGR of 3.7% by 2030 | Reports and Data
The global sealants market size was USD 73.73 Billion in 2021 and is expected to register a revenue CAGR of 3.7% over the forecast period, according to the latest report by Reports and Data.
The Sealants market growth is expected to be driven by increasing demand for sealants from construction, packaging, automotive, furniture, and footwear industries. Sealants are used to replace mechanical fasteners such as welds, screws, rivets and gaskets. This helps produce lightweight, compact vehicles at relatively low cost. Adhesive durability is highly dependent on the properties of the adhesive. Helps regulate bond strength. Glass structures require the use of sealants on the panels for a stable structure. A major challenge facing the industry is the fluctuating cost of raw materials used in sealing products. The market is mainly driven by the robust growth and demand of the packaging industry due to the huge demand and rise of the food and packaging industry.
Top Companies Operating in the Global Sealants Market:
Henkel AG & Co. KGaA, H.B. Fuller Company, Sika AG, Arkema S.A., 3M Company, Huntsman Corporation, Illinois Tool Works Inc., Avery Dennison Corporation, Wacker Chemie AG, and RPM International Inc.
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Some Key Highlights from the Report
- Based on regional analysis, the Asia-Pacific market is anticipated to bring the highest revenue share to the global adhesives and sealants market during the forecast period. Countries such as China, India and Japan are seeing increasing demand from industries such as packaging, construction and electronics. Industries such as cosmetics, food and beverages, and consumer products are constantly developing new products, increasing production, and using attractive packaging materials to attract customers. Manufacturers have switched to flexible packaging because it is lightweight, has no significant packaging cost difference compared to metal or glass packaging, and can sell products in varying quantities. This has created a demand for flexible packaging materials significantly, increasing the demand for adhesives for packaging applications.
- On November 27, 2020, Tata Steel launched Galvanova, a new generation steel that meets the growing unmet needs of small and medium-sized enterprises (MSMEs). The introduction of Galvanova has strengthened the company’s portfolio by focusing on the consumer electronics and solar industries. This product is suitable for HVAC, false ceilings and solar applications.
- On April 28, 2022, Paul Wurth, a business area of the SMS Group, was acquired by his Jindal Stainless Ltd. (JSL), at Kalinganagar Steelworks he was commissioned to build a 2 million tonne blast furnace. The new blast furnace had an operating volume of 2,307 m3 and included a bellless top, TMT machine, copper and cast-iron staves.
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The Sealants market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Sealants market.
The global Sealants market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Adhesives Formulating Technology Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- Building & Construction
- Paper, Board, & Packaging
- Automotive & Transportation
- Woodworking & Joinery
- Footwear & Leather
- Electrical & Electronics
Sealants Resin Type Outlook (Revenue, USD Billion; 2019-2030)
- Polyvinyl Acetate
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Key Attentions of Sealants Market Report:
The report offers a complete and broad perspective on the global Sealants Market.
The market statistics depicted in the various Sealants Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Sealants Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Sealants Market dynamics.
Major players, Sealants Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Sealants Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Sealants Market progress are detailed in this report.
The upstream and downstream components of the Sealants Market and a complete value chain are explained.
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