Adhesives and Sealants Industry Trends and Global Big Players Research Report to 2025

07/apr/2021 13:44:10 Grand View Research Contatta l'autore

The global adhesives and sealants market size is expected to reach USD 82.4 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.6% during the forecast period. High demand for adhesives and sealants from construction, packaging, assembly, and automotive sectors coupled with their rapidly expanding application scope are the significant factors stimulating the growth.

The market has witnessed a significant rise in R&D spending with companies focusing on developing bio-based alternatives due to stern environmental policies. Soybean-derived polyols, vegetable oil-based polyamides, epoxies, and polyisoprenes are the major bio-based adhesives and sealants. However, their cost of production is higher than conventional adhesives, which poses a limitation on their adoption rates.

Water-based adhesives segment captured the highest market share in 2017 owing to environment-friendly product formulation. In addition, the zero emissions of Volatile Organic Compounds (VOCs) by these products is a prominent factor that is expected to propel demand in near future.

The market for adhesives and sealants has witnessed significant mergers and acquisitions in the recent past. The principal objective behind this strategy was to acquire a significant share in regional markets and reduce distribution costs. For instance, in March 2017, Avery Dennison Corporation announced the acquisition of Hanita Coatings, an Israeli manufacturer of pressure-sensitive materials like specialty films and laminates.

Further key findings from the report suggest:

·         In terms of revenue, water based adhesives is predicted to witness the fastest CAGR of 6.5% over the forecast period, on account of environment friendliness and extensive utilization of the product in paper laminations, labeling, tapes, and bag manufacturing among other applications

·         Silicone led the sealants market in 2017 terms of volume share owing to superior resistance to weathering and aging of the product

·         Acrylic segment held the dominant market share of 35.7% in terms of volume in 2017, owing to its superior properties, such as high strength, environmental resistance, immediate tack, and capacity to bond on various substrates

·         In terms of revenue, the automotive application of sealants is predicted to witness the fastest CAGR of 6.8%, during the forecast period owing to rising automotive sales in Asia Pacific

·         Asia Pacific captured the highest market share of 42.7% in terms of revenue in 2017 owing to the significant growth of end-use industries like construction, automotive, and packaging

·         The global adhesives and sealants market is highly fragmented in nature with over 65% share occupied by medium and small enterprises.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market

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