The global adhesives market was valued at USD 40,037.17 million in 2016 and is projected to reach USD XX million by 2022, at a CAGR of XX%% during the forecast period, 2017 to 2022. The global sealants market was valued at USD XX million in 2016, and is projected to reach USD XX million by 2022, growing at a CAGR of XX%, during the forecast period 2017-2021.
Adhesives and sealants are often grouped together, as they both are applied to the surfaces of materials to adhere and seal them together. They are generally available in the liquid form, which is viscous in nature, with no or little flow characteristics. Adhesives are majorly chosen for their bonding and holding power and have high tensile and shear strength. Adhesives are of two varieties, namely structural adhesives (strength is vital for the success of the assembly) and non-structural adhesives (generally have low strength, are used to bond weak substrates and for temporary fastening). However, sealants are majorly selected for their ability to resist relative movement of the substrates, to fill gaps, and to contain or exclude another material. They have less strength compared to adhesives, but are more flexible in nature.
Adhesives and sealants, owing to their ability to bind different materials together by distributing stress more efficiently across the joint, are becoming an integral part of various commercial and industrial sectors. In the global adhesives and sealants market report, we have considered the following major end-user sectors:
This market is driven by a number of factors, such as the accelerating demand from the automotive industry, increasing demand from the packaging industry, and shifting focus towards composites. However, this market faces certain drawbacks, such as stringent environmental regulations regarding VOC emissions, and economic slowdown in Europe. These factors may act as a roadblock to the growth of the market.
The global adhesives market, based on technology, can be broadly segmented into water-borne adhesives, solvent-borne adhesives, reactive adhesives, hot melts adhesives, and others. These are again segmented according to the sub-segmentations of the technology. The global sealants market, based on product type, can be broadly segmented into silicone sealants, polyurethane sealants, plastisol sealants, emulsion sealants, and others.
The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and Middle-East & Africa. With the improvement in the financial status of the consumers, the purchasing power of the middle class consumers has increased, which in turn is augmenting the demand for automobiles and buildings (in turn increasing the construction activities) in the Asia-Pacific region, making the region an area of immense potential and opportunities. However, the volatility in the raw material prices in the region has considerably hindered the growth of this market. The chart below depicts the global geographical market split for the year 2016.
Furthermore, the recovering construction industry in the European region and accelerating demand for electric vehicles across the world will offer numerous opportunities for the growth of the global adhesives and sealants market. Some of the major companies dominating this market for its products, services, and continuous product development are 3M, Dow Chemicals, Henkel AG & Co. KGaA, Avery Dennison, Royal Adhesives & Sealants LLC, and Ashland Inc.
Key Deliverables in the Study