Adhesives and Sealants Market to Reach US$90.29 Bn by 2026; Rise in Demand for Adhesives & Sealants From Construction Sector to Drive the Market - TMR

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May 13, 2019, 06:30 ET

ALBANY, New York, May 13, 2019 /PRNewswire/ -- The global adhesives and sealants market is highly competitive due to the presence of a large number of players operating in the market. Leading players operating in the market hold a significant amount of share, thus the market is also seems consolidated. Players are investing heavily in mergers and acquisitions to get a firm hold in the market. H.B.Fuller recently entered in an agreement with Adecol Ind. Química, Limitada. Adecol Ind. is a manufacturer of adhesive technologies in Brazil. Due to this agreement, H.B.Fuller will expand its presence in various economies in South America.

Expansion is another widely accepted strategy through which companies are expanding their business in different regions. This will help them is getting a stronger hold in the market. Some of the other prominent players operating in the global adhesives and sealants market include KCC Corporation, Bostik SA, Sika AG., RPM International Inc., Illinois Tool Works Inc., The 3M Company, and Avery Dennison Corporation.

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According to Transparency Market Research report, the global adhesives and sealants market is expected to progress at 5.1% CAGR throughout the forecast period from 2018 to 2026. If the market rises at this rate, its valuation is expected to cross US$90.29 bn by the end of 2026. In 2017, the market earned US$58.15 bn.

In terms of resins, the demand in the acrylic segment is high as compared to other segments. Acrylic resin is widely used in a water-based, heat resistant, and UV curing adhesives. Its demand is also rising due to its excellent bonding characteristics, good environmental resistance, and fast setting time. On the regional front, Asia Pacific is expected to hold maximum share in the global adhesives and sealants market. Growing building and construction sector in developing economies such as India and China is the key leading factor for the dominance of this market. North America is also expected to hold a significant share in this market.

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Growing Industrial Applications to Expand Demand in Adhesives and Sealants Market

Increasing application of adhesives and sealants in different industries including building and construction, paper and packaging, woodworking, consumer, automotive and transportation, leather and footwear, and other is crucial driver augmenting growth in the global adhesives and sealants. Rising demand for innovative packaging is likely to boost demand in adhesives and sealants market in the packaging industry.

The shift in preference to hot-melt adhesives and high demand for green, non-hazardous, and sustainable adhesives are other driving factors providing a fillip in the adhesives and sealants market. Moreover, the development of hybrid resins for manufacturing high- performance adhesives and sealants is likely to offer high growth opportunities in the global adhesives and sealants market. High demand for lightweight passenger cars with higher fuel efficiency will provide a fillip in this market.

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Volatility of Crude Oil Prices to Challenge Adhesives and Sealants Market Performance

Restrict environmental regulations in Europe and North America can restrict growth in the global adhesives and sealants market. Moreover, the volatility of crude oil prices is also expected to deter growth in this market. Changing standards and shifting rules is also expected to challenge the growth of adhesives and sealants.

Despite the restraints, the global adhesives and sealants market is likely to grow at a substantial rate due to increasing demand for adhesives and sealants in the building and construction industry. The growing trend of low carbon emitting and lightweight vehicles is also supporting growth in this market.

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The study presented here is based on a report by Transparency Market Research (TMR) titled "Adhesives and Sealants Market (Resin - Acrylics, Epoxy, Poly Vinyl Acetate (PVA), Polyurethane (PU), Styrenic Block, Ethyl Vinly Acetate (EVA), Silicone; Technology - Water based, Solvent based, Hot Melt, Reactive; Application - Paper and Packaging, Building and Construction, Woodworking, Automotive and Transportation, Consumer/DYI, Leather and Footwear) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026".

Global adhesives market is segmented based on:

Resin

Acrylics
Epoxy
Poly Vinyl Acetate (PVA)
Polyurethane (PU)
Styrenic Block
Ethyl Vinly Acetate (EVA)
Others (including Silicone, Polyester, and Fluropolymer)

Technology

Water-based
Solvent-based
Hot Melt
Reactive and Others (including Powder-based and Oil-based)

Application

Paper & Packaging
Building & Construction
Woodworking
Automotive & Transportation
Consumer/DIY
Leather & Footwear
Others (including Electronics, Medical, and Marine)

The global sealants market is segmented based on:

Resin

Acrylics
Epoxy
Poly Vinyl Acetate (PVA)
Polyurethane (PU)
Silicone
Others (including Polyester, and Fluoropolymers)

Application

Building & Construction
Automotive & Transportation
Consumer
Others (including industrial, Electronics, and Packaging)

Regional

North America
Europe

Asia Pacific
Latin America

Middle East & Africa (MEA)

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