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NEW YORK , May 11, 2022 /PRNewswire/ -- The adhesives and sealants market was valued at $66,649.9 million in 2021, and it will propel at a CAGR of 4.9% during 2021–2030, to reach $102,604.3 million by 2030. According to the market research report published by P&S Intelligence. This will primarily be because of the increasing product application in the construction and automotive industries. Moreover, the snowballing demand for these constituents from the packaging industry, together with the strong vehicle safety regulations, is helping the industry grow.
Amongst all technologies, water-borne adhesives had the largest share, of 50%, in the adhesives and sealants market in 2021. These kinds of adhesives, also called water-based adhesives, are formed with a combination of water, polymers, and additives. They are appropriate for both permeable and non-permeable materials and used in the manufacturing of a wide range of products, including home appliances, books, medical tapes, and packaging. Moreover, since they are low on VOCs, they are not hazardous to the environment.
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Key Findings of Adhesives and Sealants Market Report
A significant trend in the adhesives and sealants market is the growing penetration of electric vehicles around the globe. As per the International Energy Agency, new registrations of electric cars reached 3 million in 2020. Furthermore, the global electric car stock hit the 10-million mark in 2020. With the rising need to reduce the vehicle weight further, traditional fasteners, such as nuts and bolts, are being replaced with adhesives & sealants.
Browse detailed report on Global Adhesives and Sealants Market Size, Industry Shares, Global Growth and Analysis 2022 To 2030
The major players are progressively engaging in partnerships and launching new products to consolidate their position. For example, in September 2021 , Henkel AG & Co. KGaA and Pregis LLC publicized a partnership to develop advanced protective packaging, to achieve environmental goals. Other key players are The Dow Chemical Company, PPG Industries Inc., Sika AG, 3M Company, Arkema Group (Bostik SA), H.B. Fuller Company, and Avery Dennison Corporation.
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About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Prajneesh Kumar P&S Intelligence Phone: +1-347-960-6455 Email: [email protected] Web: https://www.psmarketresearch.com Follow Us: LinkedIn Twitter
SOURCE P&S Intelligence
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