Global Adhesives and Sealants Market reached more than USD 43 Billion in 2015 on the back of growing demand for advanced sealants and adhesives.
“Growing industrial and automobile industries are the major growth drivers of global adhesive and sealants market”
In recent years, adhesives and sealants market has increased by 4% annually, backed up by increasing growth in major end-users market such as construction and automotive. Adhesive and sealants market has been witnessing growth in automotive sector due to increasing demand of vehicles and car ownership across the globe.
The global Adhesive and sealant market is segmented into adhesive types such as
- Water-Based Adhesives
- Solvent-Based Adhesives
- Hot Melt Adhesives
- Pressure-Sensitive Adhesives
Water-based adhesives generated largest market share globally in 2015. Silicon-based adhesives contribute to more than 30% share of revenue in global adhesives and sealants market. Water-based adhesives largely used in packaging and construction industries.
The global adhesives and sealants market accounted for USD 43.6 billion in 2015 and expected to reach USD 62.8 billion by the end of forecast period i.e. 2024. Further the market is anticipated to expand at compound annual growth rate of 4.6% over the forecast period i.e. 2016-2024.
Geographically, Asia-Pacific region is the dominating market with more than 30% contribution to the market. Asia-pacific dominance is majorly driven by the domestic and industrial consumption in China and India with revenue accounted close to USD 12.5 billion in 2016. Manufacturing industry in Asia-Pacific region is one of the major factors which are creating huge opportunity for the sealants and adhesives market players to explore their business in the region.
Strong growth in construction sector and increasing urbanization: Major Boost
Strong growth in construction industry and increasing urbanization in developing regions fueled the demand of adhesive and sealants market. Increasing demand of adhesive and sealants in pressure sensitive applications like paperboard & packaging, woodworking and footwear are expected to boost global adhesive and sealants market growth. In U.S, after recession double-digit annual growth rate can be seen in single family housing, while commercial construction sector have also witnessed more than 6% annual growth rate in 2015. The rebound of commercial sector in U.S. further boosts the demand for sealants and adhesives in near future.
However, stringent environmental regulations related to VOC emission, as solvent-based adhesives have tendency to react with nitrogen present in atmosphere, which poses a threat for respiratory system.
“Global Adhesives and Sealants Market Outlook 2024” contains detailed overview of the global adhesive and sealants market in terms of market segmentation Product Type, by Power Range. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes provides competitive outlook of some of the major players of the global adhesive and sealants market which includes profiling of companies of Arkema, Dow, H.B. Fuller, Henkel, Bostik, RPM International Inc., 3M etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on global adhesive and sealants market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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