Adhesives & Sealants Market, the adhesives
& sealants market is expected to reach $66,876 million by 2022, growing at
a CAGR of 3.7% from 2016 to 2022. Water-based adhesives segment held about 40%
share of the global adhesives market in 2015, owing to its viability as an
alternative choice to conventional solvent-based adhesive products.
Factors driving the overall adhesives &
sealants market are increasing automobile production and surging demand for
packaging material. The automotive industry is gradually replacing welding
activities of engine parts assembly with adhesives & sealants products to
reduce the vehicle weight, which in turn increases fuel efficiency. Strong
growth in infrastructure activity is also expected to drive the growth of
adhesives & sealants market. Rapid urbanization and population growth in
developing countries combined with rebounding construction activities in
developed markets of Europe and the U.S. is fueling the demand for adhesives
& sealants products. Stringent regulations on volatile organic chemical
(VOC) emission is likely to restrain the market, as solvent-based adhesives
(vinyl acetate, resins, rubber and others) have the tendency to react with
nitrogen oxides present in the atmosphere to form ozone, which poses a health
threat by causing respiratory problems. The increasing popularity of
environment-friendly adhesives over traditional solvent-based and water-based
adhesives acts as an opportunity for the market growth.
Water-based adhesives segment is expected to
continue its lead throughout the analysis period. This is owing to inkling of
major end-user industries namely packaging and construction toward water-based
adhesive products; as solvent-based adhesive products are highly prone to
volatile organic compound (VOC) emissions. Other factors attributing to its
growth are its user-friendly nature and safety in the working environment.
Water-based adhesives are free of toxic elements and hazardous organic
elements, thus fulfilling the regulations. In the year 2015, the silicone-based
sealants segment occupied more than 40% of the world Sealants market revenue
due to compatibility, strength, stability, and durability. Compatibility of silicone
sealants in construction applications has made it the most commendable type in
the market.
The demand from footwear and medical applications
is increasing at the higher CAGRs of 5.6% and 4.8%, respectively, during the
forecast period. This is due to reasons such as, increasing global footwear
production, especially in China & other emerging countries, and growing
Adhesives usage in several medical areas, such as implant, tissue bonding,
dental and wound closure.
Key findings
of the study
- Asia-Pacific is expected to continue to lead the market throughout 2022, followed by Europe.
- Silicone sealants are expected to dominate the sealants market until 2022.
- Paperboard & packaging and building & construction together accounted more than half of the global Adhesives & sealants demand in 2015.
- Hot melt adhesives market volume is projected to grow with a higher CAGR of 6.1% during the forecast period.
- China alone contributed to around 20% of the world adhesives & sealants revenue in 2015.
Asia-Pacific and Europe dominate the adhesives
& sealants market, together contributing two-thirds of the worlds revenue.
Globally, Asia-Pacific dominates the building & construction, packaging,
and automotive production, where adhesives & sealants are majorly
applicable. Hence, this region was the major consumer of adhesives &
sealants in 2015, and is expected to maintain this position throughout the
forecast period.
Most of the companies in this market are investing
significantly in R&D to develop environment-friendly products. The
prominent players profiled in this report include Henkel AG & Co. KGaA,
Sika AG, H.B. Fuller, 3M Corporation, Bostik SA, Huntsman International LLC,
Avery Dennison Corporation, Dow Corning Corporation, Wacker Chemie AG, and RPM
International Inc.
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