According
to a new report published by Allied Market Research, titled, World Adhesives
& Sealants Market -Opportunities and Forecasts, 2015 -2022, the adhesives
& sealants market is expected to reach $66,876 million by 2022,
growing at a CAGR of 3.7% from 2016 to 2022. Water-based adhesives segment held
about 40% share of the global adhesives market in 2015, owing to its viability
as an alternative choice to conventional solvent-based adhesive products.
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Factors
driving the overall adhesives & sealants market are increasing automobile
production and surging demand for packaging material. The automotive industry
is gradually replacing welding activities of engine parts assembly with
adhesives & sealants products to reduce the vehicle weight, which in turn
increases fuel efficiency. Strong growth in infrastructure activity is also expected
to drive the growth of adhesives & sealants market. Rapid urbanization and
population growth in developing countries combined with rebounding construction
activities in developed markets of Europe and the U.S. is fueling the
demand for adhesives & sealants products. Stringent regulations on volatile
organic chemical (VOC) emission is likely to restrain the market, as
solvent-based adhesives (vinyl acetate, resins, rubber and others) have the
tendency to react with nitrogen oxides present in the atmosphere to form ozone,
which poses a health threat by causing respiratory problems. The increasing
popularity of environment-friendly adhesives over traditional solvent-based and
water-based adhesives acts as an opportunity for the market growth.
Water-based
adhesives segment is expected to continue its lead throughout the analysis
period. This is owing to inkling of major end-user industries namely packaging
and construction toward water-based adhesive products; as solvent-based
adhesive products are highly prone to volatile organic compound (VOC)
emissions. Other factors attributing to its growth are its user-friendly nature
and safety in the working environment. Water-based adhesives are free of toxic
elements and hazardous organic elements, thus fulfilling the regulations. In
the year 2015, the silicone-based sealants segment occupied more than 40% of
the world Sealants market revenue due to compatibility, strength, stability,
and durability. Compatibility of silicone sealants in construction applications
has made it the most commendable type in the market.
The
demand from footwear and medical applications is increasing at the higher CAGRs
of 5.6% and 4.8%, respectively, during the forecast period. This is due to
reasons such as, increasing global footwear production, especially
in China & other emerging countries, and growing Adhesives usage
in several medical areas, such as implant, tissue bonding, dental and wound
closure.
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Key findings of the study
·
Asia-Pacific is expected to
continue to lead the market throughout 2022, followed by Europe.
·
Silicone sealants are expected
to dominate the sealants market until 2022.
·
Paperboard & packaging and
building & construction together accounted more than half of the global
Adhesives & sealants demand in 2015.
·
Hot melt adhesives market volume
is projected to grow with a higher CAGR of 6.1% during the forecast period.
·
China alone contributed to
around 20% of the world adhesives & sealants revenue in 2015.
Asia-Pacific and Europe dominate
the adhesives & sealants market, together contributing two-thirds of the
worlds revenue. Globally, Asia-Pacific dominates the building &
construction, packaging, and automotive production, where adhesives &
sealants are majorly applicable. Hence, this region was the major consumer of
adhesives & sealants in 2015, and is expected to maintain this position
throughout the forecast period.
Most
of the companies in this market are investing significantly in R&D to
develop environment-friendly products. The prominent players profiled in this
report include Henkel AG & Co. KGaA, Sika AG, H.B. Fuller, 3M
Corporation, Bostik SA, Huntsman International LLC, Avery Dennison Corporation,
Dow Corning Corporation, Wacker Chemie AG, and RPM International Inc.
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About Us
Allied Market Research (AMR) is a full-service
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in Portland, Oregon. Allied Market Research
provides global enterprises as well as medium and small businesses with
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decisions and achieve sustainable growth in their respective market domain.
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various companies and this helps us in digging out market data that helps us
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market forecasting. Each and every data presented in the reports published by
us is extracted through primary interviews with top officials from leading
companies of domain concerned. Our secondary data procurement methodology
includes deep online and offline research and discussion with knowledgeable
professionals and analysts in the industry.
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