The global adhesives and sealants market size was estimated at 9.39 million tons and 1.84 million tons respectively in 2014. Adhesives & sealants are the versatile products that have various application in different industrial sectors such as automotive, construction and packaging. New avenues and opportunities for these products continue to increase, as manufacturers require latest and high-performance materials to join dissimilar materials.
Moreover, sealants are mostly used because of their ability to avoid relative movement of the substrates, material insolubility, corrosion resistance and to fill gaps. Sealants have less strength as compared to adhesives but are more flexible. Increasing penetration of end-use applications such as facades, lamination, insulation, coating, and flooring, has generated high demand.
The implementation of stringent regulations by various environmental bodies and federal agencies are the key challenges for the industry. These factors have impelled R&D initiatives to innovate bio-based products. Additionally, bio-based products reduce carbon footprint which presents a key competitive advantage over the synthetic counterparts. The key bio-based products such as epoxies, soybean-derived polyols, polyisoprenes, polyamides, and vegetable-based waxes are rapidly produced to replace synthetic feedstock.
The PSA is the dominant application segment and accounted for over 29% of overall share in 2014. PSAs are widely used in self-adhesion tapes, automobile trim, sound/vibration damping films, notepads and all types of labels. Its primarily used as a non-structural adhesive. They usually stick to a surface upon and does not involve any chemical reaction.
Most of the PSAs commercially available come from styrenic blocks copolymers, natural rubber and acrylics. Removable adhesives are most commonly used in surface protection films, masking tapes, bookmark, and notepapers, price marking labels and promotional graphics materials.
A large volume of the product consumption goes into packaging applications such as specialty packaging envelopes, carton closures, carton boxes, cups, flexible packaging, bags, disposables, etc. Polyurethane, water-based, and hot melts are commonly used in packaging applications.
Footwear applications involve assembly, bonding, and preparation of sole and related footwear items. The product offers advantages such as easy bonding between different materials; bonding joints are hardly visible and do not impair the overall appearance of the finished product. This application exhibits a momentous increase owing to the large variety of innovative and customized products being developed to cater to the needs of the footwear industry.
In automobile manufacturing, they are used for joining rubber, plastics, glass, metal, and various other materials. Use of the product for assembling, bonding and laminating automotive interior parts would spur the growth. Epoxy and polyurethane are the most commonly used adhesives for automobile sector worldwide. The shift in focus towards reducing the overall weight of the automotive vehicle is fueling the growth.
Silicone-based sealants find application in automobiles, electronics, and machinery. Growth in these industries coupled with its increasing consumption in the construction sector would propel the demand for silicone-based sealants. However, being the industry leader, silicone-based products would experience the fastest growth, owing to the rise in investments in the construction sector in BRIC nations.
These factors would be responsible for fueling the industry growth of silicone-based over the forecast period. Acrylic-based sealing products accounted for 14.1% of the total demand in 2013. These find major applications in tapes, automotive, packaging, aerospace, and construction.
Major types of product include, styrenic block, PVA, polyurethanes acrylic, and EVA, epoxy among others such as polyisobutylene and silicones. Acrylic based dominate the global market, accounting for over 37% of overall demand in 2014. This is estimated to be the fastest growing product at a projected CAGR of 5.3% from 2014 to 2020.
PVA were the second largest product type and accounted for over 28% in 2013. They are widely used in wood and packaging sector. Silicone-based sealants emerged as the leading product with market share of 30.3% of the global demand in 2013. Increasing consumption of these products in industries, automobiles, sheet glass and partitions would boost its demand over the forecast period. Polyvinyl acetate-based ones closely followed acrylic-based sealants with overall share of 13.1% in 2013.
Asia Pacific is the largest consumer would experience a significant growth during the forecast period owing to the rising demand in end-use industries. Emerging economies such as India, China, and Japan in the Asia Pacific region would increase the demand. However, China would hold the highest share regarding consumption.
Asia Pacific accounted for the highest share in 2013. The increasing demand in the emerging economies of Asia -Pacific is majorly due to the strong GDP growth, rapid industrialization, the rise in local manufacturing. The emerging economies would be among substantial contributors to the growth of this sector during 2014 to 2020.
Rising demand in the end- used industries such as construction, packaging and automotive would drive the APAC growth, Whereas North America holds a high demand for water-based formulations coupled with increasing demand in end-use industries such as footwear, furniture, and pressure sensitive applications.
The most active economies such as North America and Europe are dominating the overall industry regarding strategic initiatives by players operational in the sector. Moreover, stringent rules and regulations would act as a restraint in the growth of the market in Europe. With the rise in environmental concerns and numerous regulatory policies, producers are concentrating on the development of bio-based products.
Europe accounted for the second largest share, at 27.7% by volume in 2013. Europe’s share is expected to decline marginally from 2014 to 2020. The decline in the total market share is a result of the European debt crisis that has adversely affected the overall industrial output, consequently impacting the demand for the product.
The European manufacturers of sealants would witness a significant growth owing to new constructions and publicly-financed infrastructure projects mainly in Eastern Europe. Also, European nations’ effort to enhance energy efficiency and reduce CO2 emissions has further propelled the use for the renovation of buildings. European Union (EU) member countries account for 85% to 90% of the total regional consumption.
However, the industry would witness a high growth owing to the growing construction and automotive sector in Eastern European countries such as Russia and Poland. The technological developments and huge manufacturer presence would fuel the demand in North America market throughout the forecast period. Silicone sealants would register the highest demand in Europe and account for over 30% of the regional demand by 2020.
Significant alliance via Merger & Acquisitions at all the levels of the value chain has affected the overall sector in the recent years. The multinational corporations dominated the overall industry across the value chain. The major dominance is concentrated with top four companies., Henkel, and HB Fuller Dow Chemical Co and 3M, which had an overall share of nearly 48% in 2013.
Further strategic initiatives such as Dow Chemical announced to expand its manufacturing facility at Map Ta Phut by addition of polyether polyols unit with a capacity of 165-kilotons per annum to cater demand from regional customers of Asia Pacific
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2012 to 2020. For the purpose of this study, Grand View Research has segmented the global adhesive & sealant market report on the basis of product, application, technology and region:
Adhesives Technology Outlook
Reactive & Other
Adhesives Product Outlook
Adhesives Application Outlook
Pressure Sensitive Applications
Adhesives Regional Outlook,
Middle East & Africa
Sealants Product Outlook
Sealants Application Outlook
Pressure Sensitive Tapes
Sealants Regional Outlook,
Middle East & Africa
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