A new study by SkyQuest reports that the global adhesives and sealants market was valued at $67.48 billion in 2022 and is poised to grow from $71.5 billion in 2023 to $114 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.0% in the forecast period of 2024 to 2031.

Adhesives and sealants are extensively used across multiple industry verticals for numerous bonding and joining applications. According to the study, advancements in adhesive technologies and growing demand for sustainable products are key factors augmenting the global adhesives and sealants market development. Adhesives and sealants companies are expected to primarily target the development of products that are free from VOCs. Within the report, the global adhesives and sealants market is segmented into type, resin type, end user industry, and region.

Water-based adhesives and sealants are highly popular in many applications, including construction and packaging. The eco-friendly nature of these products makes them a popular choice for almost all end users around the world. Regulatory issues, such as bans on the use of toxic chemicals to make adhesives and sealants is also a key factor that is projected to help this segment grow over the coming years. A focus by governments and organizations to promote sustainability will also increase sales of water-based adhesives and sealants in the future.

The advantage of more robust adhesive and sealing capabilities provided by solvent-based adhesives and sealants accounts for their popularity. The automotive and aerospace industries are key industry verticals, where the demand for high-performance solvent-based adhesives and sealants is rising, according to the report.

The study found that high demand for infrastructure development is pushing sales in adhesives and sealants in the building and construction sector. Building and construction activities are changing with the adoption of novel practices to promote sustainability and keep the costs minimal. From flooring to roofing, all construction applications utilize adhesives and sealants in some form. Advancements in material technology and the use of novel construction approaches are also forecasted to help adhesives and sealants companies maximize their business scope in the long run. High emphasis on sustainability is also expected to create new opportunities for adhesives and sealants providers in this industry vertical over the coming years.

Authors of the study report that polyurethane adhesives and sealants will remain a popular choice due to their high durability. These products are highly preferred in almost all industry verticals owing to their high versatility and durability for multiple applications. High adhesive strength and flexibility offered by polyurethane is also a key factor that helps this segment hold a high share of the global adhesives and sealants market.

To learn more about the report, visit www.skyquestt.com/report/adhesives-and-sealants-market.