Press release
Adhesive and Sealant Market to Reach USD 52 Billion by 2024 - Hexa Research
The market had a demand of 11.7 million tons (in terms of volumes) in 2015. Growth of automotives, packaging, and construction industries is anticipated to fuel these volumes till 2024. Infrastructural developments and need for reducing vehicular-weights are the primary market drivers. Strict regulations encouraging bio-based products can challenge market growth.
Bio-based adhesives are gaining prominence due to their low manufacturing costs and eco-friendliness. The adhesive and sealant industry is divided on the basis of technologies, products, applications, and regions. Solvent-based, water-based, reactive & others, and hot melt are the technologies.
Water-based led with over 40% shares in 2015. It exceeded USD 8 billion that year. This segment is predicted to dominate over the next eight years. The same can be credited to its ability to lower VoC (volatile organic content) emissions.
Browse Details of Report @ https://www.hexaresearch.com/research-report/adhesives-and-sealants-industry
Adhesive products include acrylic, polyvinyl acetate (PVA), polyurethanes, styrenic block, epoxy, ethylene-vinyl acetate (EVA), and others. Sealant products encompass polyurethanes, silicones, acrylic, PVA, and others. Acrylic adhesives generated almost USD 5 billion in 2015. They are used to develop UV light curing and waterborne & heat resistant technologies.
EVA adhesives accounted for over 400 kilotons (KT) in 2015. They should regain their shares in the near future. Silicone sealants reportedly surpassed USD 2 billion in 2015. They will grow further due to expanding automotives and construction industries.
Pressure sensitive, automotives, footwear, furniture, construction, medical, packaging, and others constitute the adhesive applications. Pressure sensitive tapes, assemblies, packaging, automotives, construction, and others are the sealant applications.
Pressure sensitive adhesive applications were valued over USD 6 billion in 2015. They are expected to generate over 4 KT by 2024, at 4.8% CAGR. Packaging accounted for over 20% demand in 2015. Automotive sealants generated more than 18% demand the same year. They can exhibit 5.4% CAGR till 2024.
Automotive adhesives would grow at about 5% CAGR from 2016 to 2024. Their key applications comprise carpeting, sealing doors & windows, and bonding decorative trims, side moldings, & vinyl roofs.
North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA) are geographies in the adhesive and sealant market. APAC reigned over the global market in 2015, earning above USD 11 billion. Increased budgets for development projects in India, China, & Indonesia may boost regional demand.
North America captured over 20% shares with respect to demand in 2015. It is expected to witness slow growth in the forecast period. The demand for silicone sealants in Europe exceeded 150 KT in 2015. It will expand significantly. LATAM is led by Brazil and followed by Argentina & Mexico.
Major players operating in the worldwide adhesive and sealant market include the 3M Company, The Dow Chemical Company, Henkel AG & Co. KGaA, and H. B. Fuller. Together, they hold more than 45% of the industry.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/bulk-chemicals-industry
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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