- The worldwide adhesives and sealants market was projected at about USD 45.4 billion (in terms of income) in 2014. It is predicted to attain a size of around USD 59.7 billion by 2020. The market is expected to notice a CAGR of about 4.7 percent during 2015 to 2020. It is likely to expand further on account of growing trends in consumer sectors to utilize bio-friendly or green adhesives and sealants. Moreover, technological developments in manufacturing capabilities and improving features of adhesives and sealants would also propel further demand for the global adhesives and sealants market.
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The constant demand for high standard performance in contemporary application sectors is also fuelling the market further. This also leads to the production of enhanced and newer adhesives and sealants. Conversely, the only hindrance that comes in the way of the adhesives and sealants market is volatility in the costs of unprocessed materials for adhesives and sealants. The worldwide market is also experiencing huge expansion due to rising demand for adhesives and sealants in the region of Asia Pacific. Development inconsumer sectors, like construction, packaging and automotives is also estimated to escalate the demand for the adhesives and sealants market.
The heightening infiltration of adhesives and sealants in facades, insulation, flooring, panel lamenting, coating and lamination has also produced huge demand for these products. The adhesives and sealants market is fragmented on account of four categories. These are products, applications, technologies and geographies.
Theadhesive products of the adhesives and sealants marketinclude EVA, acrylic, polyurethanes, epoxy, styrenic block, and PVA. Some others, such as polyisobutylene and silicones also exist. Acrylic surfaced as the dominating product of the adhesives market in 2014. It captured more than 35 percent of the worldwide demand. Acrylic is also predicted to be the most rapidly expanding product during 2014 to 2020.It is anticipated to observe about 5.2 percent CAGR during the said phase.
The demand for polyurethanes is likely to attain around USD 4.3 billion by 2020. It is projected to achieve about 6 percent CAGR through the forecast phase. The sealant products of the adhesives and sealants market are polyurethanes, silicones, polyvinyl acetate, acrylic and others, such as EVA and polysulphide. Silicones surfaced as the dominating product of the sealants market in 2014. They occupied more than 30 percent of the worldwide revenue.
The vital applications of the adhesives market are packaging, pressure sensitive, furniture, construction, automotives and footwear. Pressure sensitive rose as the dominating sector in 2014. It occupied nearly 30 percent of the share.
The vital application sectors of sealants (belonging to the adhesives and sealants market)include assembly, packaging, automotives, construction, client applications and pressure sensitive tapes. Construction was the dominating application in 2014.
It captured about 27 percent of the total demand for sealants.
The adhesives and sealants market is segmented into solvent-based, water-based, reactive and hot melt in view of technologies. Water based leaded the market in 2014. It captured more than 45 percent of the total demand.
The global adhesives and sealants market is also divided into regions. These are Europe, Asia Pacific, North America and rest of the world. Asia Pacific captured more than 40 percent of the worldwide demand in 2014.
Information Source: Grand View Research
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