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Adhesives & Sealants Market Worth $73.8 Billion by 2024 - Exclusive Report by MarketsandMarkets(TM)

CHICAGO, Sept. 19, 2019 /PRNewswire/ -- According to the new market research report "Adhesives & Sealants Market By Adhesive Formulating Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive), Sealant Resin Type (Silicone, Polyurethane, Plastisol, Emulsion, Butyl, Polysulfide), Application, Region - Global Forecast To 2024", published by MarketsandMarkets™, the Adhesives & Sealants Market is projected to grow from USD 58.9 billion in 2019 to USD 73.8 billion by 2024, at a CAGR of 4.6%, during the forecast period.


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The adhesives & sealants market is driven by the growing trend of lightweight and low carbon emitting vehicles and increasing demand from the building & construction industry. Stringent environmental regulations in Europe and North America are restraining the market growth while the increasing demand for green adhesives offers opportunities to the manufacturers. The wide acceptance of adhesives & sealants in paper & packaging, building & construction, woodworking, consumer/DIY, automotive & transportation, leather & footwear, assembly, and other applications is mainly driving the market growth.

Based on formulating technology, the reactive & others segment of the adhesives market is expected to grow at the highest CAGR during the forecast period.

The reactive & others segment is projected to grow at a higher rate than the other formulating technologies because reactive adhesives play a vital role in various applications for the adhesion of materials, such as steel, aluminum, and other components of the automotive & transportation, and building & construction. Polyurethanes and modified acrylics are some of the primarily used reactive adhesives in the assembly operation of cars and other vehicles.

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The polyurethane segment is projected to be the fastest-growing resin type of the sealants market during the forecast period.

The polyurethane segment is projected to grow at the highest CAGR between 2019 and 2024. It is most widely used in automotive, parking deck & sidewalk sealing, construction, and marine applications. More than 90% of automobiles are produced with bonded windshields and rear windows using polyurethane sealants, globally. Therefore, the increasing demand from automotive and other applications is expected to drive the polyurethane sealants segment.

Adhesives & sealants market in APAC is projected to grow at the highest CAGR during the forecast period.

The adhesives & sealants market in the APAC region is expected to grow at the highest CAGR during the forecast period, owing to the rising demand for adhesives & sealants from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for adhesives & sealants in the APAC region. Continuous growth in infrastructure and increase in production of automobiles are driving the adhesives & sealants market in the region.

Major players in the Adhesives & Sealants Market include Henkel (Germany), H.B. Fuller (US), Sika (Switzerland), Arkema (France), Huntsman Corporation (US), 3M Company (US), Illinois Tool Works Inc. (US), Avery Dennison Corporation (US), DowDuPont Inc. (US), and Wacker Chemie Ag (Germany).

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Browse Adjacent Markets:  Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting

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Film Adhesives Market

 by Resin Type (Epoxy, Acrylic, Cyanate Ester), End-Use Industry (Electrical & Electronics, Aerospace, Automotive & Transportation, Consumer), and Region (APAC, North America, Europe, South America, and MEA) - Global Forecast to 2023

Hybrid Adhesives & Hybrid Sealants Market by Resin Type (MS Polymer Hybrid, Epoxy-Polyurethane, Epoxy-Cyanoacrylate), Application (Building & Construction, Automotive & Transportation, Industrial Assembly), and Region - Global Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
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