31-Mar-2021 | Market Research Store
The Global Adhesives & Sealants Market Is Fueled By The Demand For Construction, Automotive, and Packaging Adhesives & Sealants Growth Across The World.
Adhesives and sealants are synthetic adhesives and fasteners. Filling gaps with sealants are common, whereas fusing two surfaces requires adhesives. The adhesives and sealants market is expected to rise due to increased demand from automotive applications.
COVID-19's outbreak in 2020 has had an impact on the global economy and market scenario in major industries around the world. The limitation in industrial operations, trade practices, supply-chain uncertainty, and other events in global lockdown has resulted from the pandemic scenario. During this situation, adhesives & sealants' main end-use sectors, such as construction, automotive, packaging, footwear, were also impacted. The economy has been affected by a drop in oil prices and delays in new pipeline completion, lower demand from the automobile industry, and a partial freeze in construction activities across the world for a few months in 2020. As a result of slow demand from end-use sectors, the high-growth adhesives & sealants industry is projected to slow down in 2020. The economy, on the other hand, is improving, and businesses have resumed operations with limited capability and in accordance with government guidelines. From the beginning of 2021, all end-use industries are projected to be fully operational, resulting in strong demand for adhesives & sealants. As a result, the demand is expected to grow at a rapid rate over the forecast period. Several applicants in the construction, automotive, packaging, furniture, assembly and footwear sector have endorsed the usage of adhesives & sealants products as it can ideally enhance the product offered by many. In increasing sales, making things more recognizable and appealing to a buyer plays a critical role. This also serves to show in the shop the range of items or product combinations available.
The demand for the adhesives & sealants market was projected at around USD 60.0 billion in 2019, and by the end of 2026, existing and expected developments would hit estimations of around USD 84.0 billion. The companies and experts predict the worldwide adhesives & sealants market growth in terms of a CAGR of around 4.8%. The growing application of adhesives & sealants in the field of construction, automotive, packaging, furniture, assembly, and footwear industry is expected to propel market growth in the upcoming years.
Some of the leading and key companies in the adhesives & sealants market contain Eastman Chemical Company, Arkema (Bostik), BASF SE, Uniseal Inc., Jowat SE, Soudal Group, RPM International Inc, The Dow Chemical Company, Avery Denison Corporation, Henkel AG & Co., N.D. Industries Inc., Mapei S.p.A., Beardow & Adams Limited, Ellsworth Adhesives, Sika AG, Franklin International, Inc., Pidilite Industries, Master Bond Inc., 3M Company, Ashland Inc., H.B Fuller Company, Momentive Specialty Chemical Industries, Meridian Adhesives Group, and Dymax Corporation, among others.
The demand for adhesives & sealants is expected to be driven by the region's rising demand for the construction industry. Population growth and urbanization are driving the residential building industry in developed countries like China, India, Mexico, Brazil, Vietnam, and Indonesia. There is an increasing market for permanent residency in these countries, which is driving demand for adhesives and sealants. Adhesives and sealants are used in a variety of applications in the construction industry, including wallpaper, tiling, exterior housing structures, and carpets. As a result, the growing market for adhesives and sealants in the building industry is a major growth driver. In addition, the rapid growth in the building and construction industry is anticipated to impact positively the demand for adhesives & sealants as several commercial, residential and infrastructure projects rise in the worldwide region. Growing globalization, which has resulted in an increase in investments, and properties of adhesives & sealants such as high insulation, low cost, and ample raw material supply leads to propel the global adhesives & sealants market's expansion. Major developments in adhesives & sealants technology, as well as significant investments by leading research and development manufacturers, are expected to propel the global adhesives & sealants market in the upcoming years. However, the high production cost of adhesives & sealants may hamper the global adhesives & sealants market.
Browse the full “Adhesives & Sealants Market By Technology (Water-Based, Solvent-Based, Hot-Melt, and Reactive & Others), By Adhesives Product Type (Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy, EVA, and Others), By Sealants Product Type (Silicones, Polyurethanes, Acrylic, Polyvinyl Acetate, and Others), and By Application (Construction, Automotive, Packaging, Pressure-Sensitive Applications, Furniture, Assembly, Footwear, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/adhesives-sealants-market-828560
The global adhesives & sealants market is segmented as technology, adhesives product type, sealants product type, and application. By technology, the global market is divided into solvent-based, water-based, hot-melt, and reactive & others. Based on adhesives product type, the market is bifurcated into PVA, styrenic block, EVA, acrylic, polyurethanes, epoxy, and others. By sealants product type, the market is bifurcated into polyurethanes, polyvinyl acetate, silicones, acrylic, and others. By application, the global market is divided into automotive, pressure-sensitive applications, assembly, construction, packaging, furniture, footwear, and others. Geographically, the global adhesives & sealants market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
In terms of geography, Asia Pacific represents a higher demand for the adhesives & sealants market followed by the European region. The Asia Pacific has emerged as one of the leading producers and users of adhesives and sealants, due to growing domestic demand, rising income levels, and convenient access to capital. One of the main uses of adhesives and sealants in this field is the automobile and transportation industry. The APAC region's economic development, particularly in emerging markets like Indonesia, Taiwan, India, Thailand, Malaysia, and Vietnam, is leading to an increase in the number of infrastructure projects, which is expected to drive demand for adhesives and sealants in the building and construction industry. Furthermore, the arrival of big players is projected to increase demand even further. The strong involvement of prominent suppliers of adhesives & sealants, as well as private company investment in the production and growth of R&D operations, are all planned to drive the province's demand for adhesives & sealants.
Global Adhesives & Sealants Market: Regional Segment Analysis
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