17-April-2019: The global hybrid adhesives and sealants market size is expected to reach USD 22.50 billion by 2025 according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.3% over the forecast period. Growing popularity of hybrid resins has led to its usage in adhesives and sealants. Increasing infrastructural developments and demand for lightweight vehicles are anticipated to augment the market during the forecast period.
The building and construction industry is witnessing considerable growth across the globe, especially in developing countries. Hybrid sealants are widely used in concrete sealing, joint filling, and cable sealing applications. Its ability to bond with different types of substrates, tolerate extreme weather conditions, compatibility with paints and coatings, and availability in different colors is boosting the demand.
Growing concerns toward environment and energy consumption have encouraged automotive manufacturers to increase the production for lightweight vehicles, where hybrid adhesives are of vital importance. Hybrid adhesives contribute significantly in reducing the weight of a vehicle. They offer strong adhesion and bonding for different types of materials that allows the usage of lightweight substrates in vehicle production and also eliminate the need for mechanical fasteners. This further leads to saving time and productivity along with enhanced fuel efficiency and less VOC emissions post-production. The increasing production of lightweight vehicles is anticipated to propel the global market.
Hybrid adhesives and sealants combine the superlative properties of both the resins, but seldom inculcate their disadvantages. This is a major factor driving the popularity and adoption of the product. MS polymer and epoxy-cyanoacrylate are the two hybrid resins, which are majorly used in their production.
MS polymer holds a significant market share owing to cost effectiveness and usage in the production of both hybrid adhesives and sealants. In terms of volume, the segment accounted for 69.8% market share in 2017 and this share is expected to increase over the forecast period.
The market witnesses competitive rivalry due to the presence of major industry players, such as Henkel Corporation, 3M, Wacker Chemie AG, H.B. Fuller, and others. The players are introducing new products and engaging major acquisitions for strengthening their market position.
In depth research report on Hybrid Adhesives & Sealants Market
Further key findings from the report suggest:
· Building and construction was the largest application segment in 2017 on account of increasing propensity of builders towards hybrid adhesives and sealants and growth of the global construction market
· In terms of revenue, epoxy-cyanoacrylate segment is expected to register a CAGR of 8.4% during the forecast period
· In terms of revenue, Asia Pacific is likely to witness the fastest growth of 9.5% from 2017 to 2025 owing to rapid infrastructural developments especially in India and Southeast Asian countries
· In Middle East and Africa hybrid adhesives and sealants market, the demand from automotive application is expected to expand at a CAGR of 13.2%, in terms of revenue, due to the increasing automotive production in Iran
· In 2017, Sika launched two new products and acquired Turkey based ABC sealants, for strengthening its market position in the adhesives & sealants industry
Grand View Research has segmented the global hybrid adhesives and sealants market on the basis of resin type, application, and region:
Hybrid Adhesives & Sealants Resin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· MS Polymer
· Epoxy-cyanoacrylate
· Others
Hybrid Adhesives & Sealants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Building & Construction
· Automotive
· Others
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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