Global Adhesives and Sealants Market Overview:
Adhesive and sealants are versatile products that have found applications in different industrial sectors such as automotive, construction and packaging. Sealants are mostly used because of their ability to avoid relative movement of the substrates, corrosion resistance and material insolubility and to fill gaps. They are known to have less strength as compared to adhesives but are generally more flexible. Increasing penetration of end-use applications such as insulation, facades, lamination, coating, and flooring, has generated high demand. The pressure sensitive areas are a dominant market and account for over 29% overall share. They are used as a non-structural adhesive in self-adhesion tapes, automobile trim and sound damping films, notepads and all types of labels.
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Global Adhesives and Sealants Market Size Analysis:
The global market for adhesives and sealants was valued at $52.90 billion in 2017 and is expected to grow at a CAGR of 4.83% to reach $71.01 billion by 2022. The acrylic variant accounted for 35% of the total demand in 2017 and is expected to grow at a CAGR of 5% till 2022. Next in domination is the PVA variant that accounts for 28% of market share. Silicone based sealants occupy about 30.3% of the share. Due to rapid economic growth, Asia Pacific is expected to grow at a substantial rate, while the recovering construction industry in Europe is likely to boost the market. China and India, in particular, are quick growing markets currently. Europe accounted for the second largest share, at 27.7% by volume, and holding about 30% of the total silicone sealant market in the previous years, which was declined due to economic crisis in the following years. However, now with Russia and Poland making huge strides in technology, the market is expected to grow again.
Some of the major players in this industry are:
3M
HB Fuller Co
DowDuPont
RPM
Mapei
ITW
Henkel AG & Co
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Global Adhesives and Sealants Market Growth and Demand Analysis:
Volatility in the raw materials of the adhesive and sealant may hinder the overall growth of the market. The implementation of stringent regulations by various environmental bodies and federal agencies are also cause of concern to the industry. However, newer avenues and opportunities for these products continue to increase, as manufacturers require latest and high-performance materials to join dissimilar materials. Intense investments are made in the R&D sector of the market to innovate bio-based alternatives in order to reduce carbon footprint as compared to the currently global synthetic variant. The introduction of bio-based products such as epoxies, soybean-derived polyols, polyisoprenes, polyamides, and vegetable-based waxes are rapidly replacing the synthetic market.
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