Adhesives & Sealants Market to Reach Worth US$ 90,298.3 Mn by 2026

The global adhesives & sealants market was valued at US$ 58,153.1 Mn in 2017 and is anticipated to expand at a CAGR of 5.1% from 2018 to 2026, according to a new report titled ‘Adhesives & Sealants Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global adhesives & sealants market is driven by the rise in building and construction activities across the globe.

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Rise in Demand for Adhesives & Sealants from Building & Construction Industry to Drive Market

The global adhesives & sealants market is primarily driven by advancements in the building & construction industry. Rise in the number of upcoming commercial building projects, especially in Asia Pacific and Middle East & Africa, is anticipated to propel the adhesives & sealants market in these regions. The residential and non-residential construction sectors in the U.S. has been expanding in the last few years. This trend is likely to continue during the forecast period.

The residential construction sector in the U.S. experienced year-on-year growth of 10.52% in 2016 and 10.58% in 2017. The non-residential construction sector expanded by 7.71% from 2015 to 2016. Construction of health care, commercial, and office buildings have increased in the country. The housing industry in the U.S. is estimated to expand at a rapid pace in the near future. New York, Houston, Los Angeles, and Chicago are projected to represent 20% of total construction output in the U.S. by 2026. India is expected to become the third leading construction industry in the world by 2026.

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Implementation of Stringent Environmental Regulations Related to VOC Emission to Restrain Market

Volatile organic compound (VOC) emissions during the use of adhesives pose a threat to the environment. Several countries have set guidelines restricting the amount of VOCs emitted during the usage of adhesives, especially for solvent-based adhesives, in industries. Manufacturing operations are bound by rules and regulations regarding evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. Violation of these regulations is expected to lead to legal compromise future business activities of the company.