According to the latest report published by Credence Research, Inc. “Global Adhesives & Sealants Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Adhesives & Sealants market was valued at US$ 51,745.3 Mn in 2017, expected to grow at the CAGR of 4.9% from 2018 to 2026.
Adhesives & Sealants market size was valued at US$ 51,745.3 Mn in 2017, growing with a CAGR of 4.9% during the forecast period from 2018 to 2026. Adhesives hold at least two substrates together in a strong and permanent manner, whereas, sealants performs the same function but also fills the gap between two substrates to prevent the passage of air, water and/or chemicals. Adhesives and sealants are often made of similar materials and sometimes used in similar applications in end-use industries such as paperboard & packaging, automotive & transportation, building & construction, woodworking & joinery, etc. Water-based adhesives is the largest segment because of their versatility and moderate price, followed by solvent-based adhesives. Consumption of solvent-based adhesives is declining in developed countries owing to strict VOC emission regulations. However, rise in shoe manufacturing industry particularly in China supporting the segment growth during the forecast period. Silicone dominated the Sealants market by resin type followed by polyurethane resin-based sealants. Polysulfide sealants are losing market share to polyurethane-based sealants.
Paperboard & Packaging holds the largest share of Adhesives & Sealants market by end-use industries during 2017-2018. In paperboard & packaging industry, adhesives & sealants find its application in the wide variety of paper bonding ranging from corrugated box construction and the lamination of printed sheets to packaging material used for all types of consumer products to the production of large industrial tubes and cores used by manufacturers of role goods and other materials. Factors such as rising population and disposable income, increasing demand for quality products, high economic growth especially in developing economies fuelling the growth of this segment.
Based on the geography, Asia-Pacific held the largest share in the global Adhesives & Sealants market in 2017 in terms of value and volume. Asia-Pacific is identified as the fastest growing region owing to rising population and disposable income coupled with growth in the end-use industries, driving Asia-Pacific Adhesives & Sealants market. North America with the largest number of new product developments in the world closely follows Asia-Pacific in terms of value & volume consumption. Water-borne & Hot-melt adhesives are gaining high popularity in North American owing to ongoing replacement of solvent-borne adhesives in developed regions.
Although increasing regulations against the use of high VOC compounds coupled with high cost associated with compliance and raw materials required, the manufacturers are continually addressing the situation by heavily investing in R&D and new technology development.
Browse the full report Global Adhesives & Sealants Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at http://www.credenceresearch.com/report/adhesives-and-sealants-market
Key manufacturers of adhesives and sealants include 3M Company (U.S.), Illinois Tool Works Inc. (U.S.), H.B. Fuller (Netherlands), Bostik Ltd. (France), Henkel AG & Company (Germany), Sika AG (Switzerland), Avery Dennison (U.S.), RPM and International Inc. (U.S.) among others.