SAN FRANCISCO, June 26, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 200 page research report with TOC on "Adhesives and Sealants Market Size, Share & Trends Analysis Report By Technology, By Product, By Application, By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market
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.
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)
- Styrenic block
- Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Pressure sensitive applications
- Sealants Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Polyvinyl acetate
- Sealants Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Pressure sensitive tapes
- Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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