Bonding Your Adhesive and Sealant Business for Tomorrow
From the desk of Muzaffar Sayyed
Adhesives and sealants are crucially used in almost all industry verticals in some or the other form, which makes the adhesives and sealants market a highly lucrative one. From construction to electronics, adhesives and sealants are used widely in different applications. Growing application scope for adhesives and sealants and advancements in adhesive and sealant manufacturing technologies are projected to be prime factors driving market growth around the world.
As per Skyquest analysis, the global adhesives and sealants market is estimated to surpass a valuation of USD 114 billion by the end of 2031 and expand at a CAGR of 6% from 2024 to 2031. Rapidly expanding infrastructure development and lightweight automotive production activities around the world are estimated to create new opportunities for adhesives and sealants companies in the long run.
Trends to Seal the Deal in Adhesives and Sealants Market
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Sustainability: Go green or go home is a reality that most chemical-based industries will be faced with in the near future as the focus on sustainability increases around the world. Imposition of stringent mandates to reduce the use of toxic chemicals is creating new opportunities for developers and suppliers of sustainable and eco-friendly suppliers of adhesives and sealants. Rising consumer awareness regarding sustainability is also estimated to bolster the demand for sustainable adhesives and sealants in the future.
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Product Innovation: Demand for specialized and custom adhesive and sealant formulations is high around the world in different industry verticals such as automotive, construction, aerospace, packaging, etc. Adhesives and sealant companies are continually investing in the development of specialized formulations with advanced features and functionality to maximize their sales potential across the forecast period and beyond.
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Lightweight Vehicles: The growing popularity of electric vehicles around the world and the imposition of stringent vehicle emission mandates are promoting the demand for lightweight vehicles around the world. The high use of composite materials in vehicle manufacturing is boosting the demand for advanced adhesives that eliminate the use of rivets and weld joints that add up to the weight of the vehicle. This lightweight trend is projected to create new opportunities for suppliers of adhesives and sealants in the long run.
View more info and detailed Table of Contents here: https://skyquestt.com/report/adhesives-and-sealants-market
Why Should Adhesives and Sealant Companies Tread Carefully?
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Imposition of Stringent Norms: Governments and regulatory authorities around the world are imposing strict regulations to reduce the use of toxic chemicals around the world. Bans on the use of certain chemicals and emphasis on reduction of VOCs are also predicted to hamper the global adhesives and sealants market growth across the forecast period and beyond.
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Volatile Raw Material Pricing: Resins, solvents, and additives are key raw materials that are used in the production of adhesives and sealants. These raw materials are subject to supply chain disruptions, product availability, and fluctuations in the global commodity markets. This is why their prices are highly volatile and create issues for manufacturers to maintain profitability and competitiveness.
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Availability of Alternatives: Advancements in material science and material technologies have resulted in growing availability of alternative joining solutions and products. Mechanical fasteners, riveting, and welding are some popular alternatives that are estimated to hurt the sales of adhesives and sealants over the coming years.
To sum it up, adhesives and sealants market players have many opportunities to take their business to the next level and if they manage to overcome their restraints soon, they will have a massive competitive advantage in the long run.
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