10-Sep-2019: The global adhesives and
sealants market size is expected to reach USD 82.4
billion by 2025, according to a new report by Grand View Research, Inc. It is
anticipated to expand at a CAGR of 5.6% during the forecast period. High demand
for adhesives and sealants from construction, packaging, assembly, and
automotive sectors coupled with their rapidly expanding application scope are
the significant factors stimulating the growth.
The market has
witnessed a significant rise in R&D spending with companies focusing on
developing bio-based alternatives due to stern environmental policies.
Soybean-derived polyols, vegetable oil-based polyamides, epoxies, and
polyisoprenes are the major bio-based adhesives and sealants. However, their
cost of production is higher than conventional adhesives, which poses a
limitation on their adoption rates.
Water-based
adhesives segment captured the highest market share in 2017 owing to
environment-friendly product formulation. In addition, the zero emissions of
Volatile Organic Compounds (VOCs) by these products is a prominent factor that
is expected to propel demand in near future.
Fast paced
lifestyle along with the growing middle class population is driving growth of
the packaging sector in Asia Pacific. This is expected to boost the adhesives
and sealants market as a large volume of adhesive consumption goes into
packaging applications, such as carton boxes, envelopes, carton closures, cups,
flexible packaging, specialty packaging, bags, and disposables.
Sealants find huge
applications in construction industry owing to their quick seal abilities and
longer endurance on substrates. Waterproofing sealants are majorly used for
exterior applications, such as terrace, balcony and other building components.
Tilting and several other sealants are particularly used in interior
applications and owing to these vivid application scopes, these sealants have
high penetration capacity across growing economies with huge building project
funds and government aid.
Asia Pacific is
expected to be the fastest growing region during the forecast period. Surge in
automotive sector is expected to have a positive influence on regional market
growth. Automotive companies are merging their businesses with the adhesives
and sealants formulating giants to cut down their cost of procurement and to
enhance their supply chain efficiency, and to reducing the operational time per
unit production. Apart from the automotive sector, there is a significant
demand for adhesives and sealants from plywood applications in the furniture
industry, which further fuels market growth.
The market for
adhesives and sealants has witnessed significant mergers and acquisitions in
the recent past. The principal objective behind this strategy was to acquire a
significant share in regional markets and reduce distribution costs. For
instance, in March 2017, Avery Dennison Corporation announced the acquisition
of Hanita Coatings, an Israeli manufacturer of pressure-sensitive materials
like specialty films and laminates.
In
depth research report on Adhesives and Sealants Market
Further key findings from the report suggest:
·
In terms of revenue, water based adhesives is predicted to
witness the fastest CAGR of 6.5% over the forecast period, on account of
environment friendliness and extensive utilization of the product in paper
laminations, labeling, tapes, and bag manufacturing among other applications
·
Silicone led the sealants market in 2017 terms of volume
share owing to superior resistance to weathering and aging of the product
·
Acrylic segment held the dominant market share of 35.7% in
terms of volume in 2017, owing to its superior properties, such as high
strength, environmental resistance, immediate tack, and capacity to bond on
various substrates
·
In terms of revenue, the automotive application of sealants
is predicted to witness the fastest CAGR of 6.8%, during the forecast period
owing to rising automotive sales in Asia Pacific
·
Asia Pacific captured the highest market share of 42.7% in
terms of revenue in 2017 owing to the significant growth of end-use industries
like construction, automotive, and packaging
·
The global adhesives and sealants market is highly fragmented
in nature with over 65% share occupied by medium and small enterprises.
Grand View Research
has segmented the global adhesives and sealants market on the basis of
technology, application, product, and region:
Adhesives Technology Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Water based
·
Solvent based
·
Hot melt
·
Reactive & other
Adhesives Product Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Acrylic
·
PVA
·
Polyurethanes
·
Styrenic block
·
Epoxy
·
EVA
·
Other
Adhesives Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Pressure sensitive applications
·
Packaging
·
Construction
·
Furniture
·
Footwear
·
Automotive
·
Other
Sealants Product Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Silicones
·
Polyurethanes
·
Acrylic
·
Polyvinyl acetate
·
Other
Sealants Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Construction
·
Automotive
·
Packaging
·
Assembly
·
Pressure sensitive tapes
·
Consumers
·
Other
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
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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