Asia Pacific Adhesives And Sealants Market Size, Share & Trends Analysis Report By Technology (Water Based, Solvent Based), By Product, By Application, By Country, And Segment Forecast, 2023 - 2030

Asia Pacific Adhesives And Sealants Market Growth & Trends

The Asia Pacific adhesives and sealants market size is expected to reach USD 40.3 billion by 2030, expanding at 6.6% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This is attributable to the automotive and construction industries, particularly in China and India, which are predicted to have strong demand outlooks during the ensuing years, which will be a major driving force for the market.

The installation of various flooring types, including resilient and hardwood flooring, is being fueled by rising infrastructure spending in the residential and commercial sectors across the globe, which is also driving up demand for adhesives and sealants. The need for residential space is expanding because of the growing population and the rising standard of living, which is fueling the expansion of the economy.

In sectors like automotive, aerospace, and packaging, the use of adhesive products is replacing the use of mechanical fasteners. The ultimate weight of the product can be reduced by using such items instead of conventional equipment, which has become a major area of focus for the automotive and aerospace sectors during the past five years. To reduce their freight costs, most formulators in the packaging sector use adhesives rather than complex bolting methods.

Buyers from various industries need high-quality, eco-friendly products, which creates a significant demand across a variety of application scopes. There is a strong demand for adhesives and sealants that simultaneously satisfy national and international legal requirements while resulting in fewer emissions, have lower levels of volatile organic compounds (VOCs), and provide aesthetic bonding solutions across a variety of surfaces. Since they contain no VOCs, goods based on water are regarded as environmentally beneficial. Additionally, they offer strong long-term resistance to moisture and extreme temperatures.

Asia Pacific Adhesives And Sealants Market Report Highlights

• Acrylic adhesive is set to emerge as the fastest-growing product segment with a CAGR of 7.3% from 2023 to 2030, due to increased infrastructure spending and construction activity
• Water-based technology is likely to emerge as one of the fastest-growing segments with a CAGR of 7.3% from 2023 to 2030. The segment is projected to expand due to the superior joining quality, fast set times, and decrease in the use of formulations based on solvent-based technology
• Adhesives accounted for a revenue share of over 85% in 2022 in the Asia Pacific market.The market is anticipated to expand because of rising construction spending and increasing demand for products used in applications including flooring, carpet installation, countertop lamination, and plasterboard lamination, among others
• Azelis acquired Chemo India and Unipharm Laboratories, a research division for the coatings, adhesives, sealants, and elastomers (CASE) segment, in May 2022 to increase its geographic footprint in India
• In 2020, Pidilite Industries acquired the Indian division of Huntsman Group. The company's product line in the adhesives and sealants sector was widened as a result

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