Multiple comprehensive reports estimate the global adhesives and sealants market to be worth upwards of $70 billion by 2025, growing with an average rate of 4.1% from its current position.
This rapid growth in the adhesives and sealants market is largely due to the increasing demand from the automotive, construction and packaging industries. In the automotive industry, there is a growing interest in the production of light vehicles which utilise adhesives over traditional fastening methods in windshields and rear windows. In the construction industry, sealants are used thoroughly for their high resistance to environmental conditions, which accounts for the strong bonding of joints through all weather conditions, used in terraces, balconies and building components. In the packaging industry, there is a growing consumer demand as a result of increasing online shopping services, which warrants the packaging of goods using adhesives.
The product segments in this market include silicones, polyurethanes, acrylics and other adhesives. The polyurethane segment is projected to be the fastest growing resin type of sealant, thanks to the automotive industry. Additionally, the fastest growing region in the adhesives and sealants market is expected to be Asia Pacific, also being fuelled by the automotive industry.
Furthermore, the reports highlight the growing application of adhesives in the medical industry, which is an opportunity for further growth in this market.