Adhesives and Sealants - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Adhesives and Sealants Market is accounted for $56.40 billion in 2018 and is expected to reach $98.57 billion by 2027 growing at a CAGR of 6.4% during the forecast period. Some of the key factors propelling the market growth include shift in preference to hot-melt adhesives, growing trend of lightweight and low carbon-emitting vehicles, increasing automobile production and surging demand for packaging material. However, environmental regulations in North America and Europe are likely to restraint the market.
An adhesive is a chemical blend used to join or bond two surfaces to form a particular assembly, and a sealant is a semisolid material used to avert fluid leakages. Adhesives and sealants are produced using similar chemicals and technologies and are employed in a wide range of applications. Despite the fact that adhesives and sealants are considered as one industry, their respective functions differ in applications. Adhesives have high tensile and shear strength, which makes this material superior for bonding-related applications. Sealants on the other hand, are used to fill gaps and restrict corresponding movements of substrates. Sealants strength is lower than adhesives, but has higher flexibility.
By formulating technology, water-based technology segment is anticipated to grow at the significant rate during the forecast period. In this technology, water is used as a carrier or diluting medium and is allowed to set by evaporation, or absorbed by the substrate. Furthermore, they reduce VOC emissions and increasing environmental awareness and stringent regulations are projected to propel the segment growth in the forthcoming years.
On the basis of geography, the adhesives & sealants market in the APAC region is expected to have considerable market growth during the forecast period, due to the rising demand for adhesives & sealants from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. In addition, supportive government policies are expected to drive the construction industry, which in turn is expected to support product penetration in the region.
Some of the key players in adhesives and sealants market include Huntsman Corporation, 3M Company, BASF SE, Henkel AG, H.B. Fuller, Rpm International Inc., Dowdupont Inc., Wacker Chemie AG, Master Bond Inc., Sika AG, Arkema (Bostik Sa), Lord Corporation, Adhesives Research Inc., Illinois Tool Works Inc., Avery Dennison Corporation, Dymax Corporation, Akzo Nobel N.V., PPG Industries, Franklin International, and Ashland Inc.
Resin Types Covered:
• Other Resin Types
Formulating Technologies Covered:
• Non-reactive Adhesive
End Users Covered:
• Automotive & Transportation
• Building & Construction
• Leather & Footwear
• Paperboard & Packaging
• Industrial Assembly
• Woodworking & Joinery
• Food and Beverage Industry
• Paints and Coatings
• Other End Users
• Selective-etching Adhesive
• Self-etching Adhesive
• Total-etching Adhesive
• Direct Restoration Bonding
• Indirect Restoration Bonding
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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