Growth opportunities in the Adhesives and Sealants Market look promising over the next six years. This is mainly due to the increasing urban population, mounting impalement of lighter passenger cars with reduced emissions, and greater fuel economy.
Adhesives and Sealants Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the significant drivers supplementing the growth of the global adhesives and sealants market includes their augmenting demand from the construction and building sector. Also, the accelerating population, along with the rapid urbanization across the emerging nation, has raised the demand for living spaces and permanent houses, which has further revitalized the construction industry. For example, in accordance with the World Bank, China’s population has expanded by 100 million from 2015-2020, which signifies the increasing need for living space and population. Additionally, these adhesives are largely implemented in ceramic tiles, drywall lamination, carpet laying, and concrete. The accelerating penetration of lightweight passenger cars with lower radiations and better fuel efficiency has remarkably stimulated their sales in the automotive sector throughout the world. For example, they have the ability to decrease the weight by replacing bolts and nuts and thereby increase the fuel-saving of the vehicles. As a result, conventional methods concerned with the application of bolts and welding are projected to be replaced by the enhanced adhesives with better bonding capabilities, which will bolster the adhesives and sealants industry.
In addition, artisans and contractors are persistently engaged in examining the latest modernized products, which is encouraging the leading market players to perform trials for novel product development. For instance, Creative Materials inc., in 2019, introduced a new adhesive that provides better effectiveness, thus raising the market demand. However, as per the adhesives and sealants market report, the rigorous norms and rules imposed by the Resin Committee (ERC) and the European Commission (EC) will hamper the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is projected to expand at a faster CAGR over the forecast period. This is primarily attributed to the swift industrialization and robust gross domestic product. China, India, and Japan are the major countries promoting market growth. According to IBEF, investments in the Indian infrastructure are forecasted to rise by US$ 778.90 billion by the end of 2022, which will bring out enormous growth opportunities for India. Furthermore, as per the Arkema, over 34% of the adhesives and sealants turn into construction. China’s construction sector ranked under top five across the globe, driving the market growth.
Adhesives and Sealants Market’s leading Manufacturers:
- Wacker Chemie AG
- AVERY DENNISON CORPORATION
- HUNTSMAN
- Sika AG
- Henkel AG & Co. KGaA
- Dow
- Illinois Tool Works Inc.
- Arkema
- B. Fuller Company
Adhesives and Sealants Market Segmentation:
Segmentation by Technology
- Water-Based
- Solvent-Based
- Hot-Melt
- Reactive
- Others
Segmentation by Product
- Acrylic
- Polyvinyl Acetate
- Polyurethanes
- Styrenic Block
- Epoxy
- Ethylene-Vinyl Acetate
- Others
Segmentation by Application
- Packaging
- Construction
- Furniture
- Footwear
- Automotive
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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