Adhesive Sealants Market Trends and Prospects by 2026

(MENAFN – GetNews) The global adhesives and sealants market is driven by increasing building and construction activities around the world.

Sealants market trends were valued at US $ 58,153.1 million in 2017 and is expected to increase at a CAGR of 5.1% from 2018 to 2026, according to a new report titled “Adhesives and Sealants Market: Global Analysis Industry, Size, Share, Growth, Trends, and Forecast, 2018-2026 ”, published by Transparency Market Research (TMR).

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Increased demand for adhesives and sealants from building and construction industry to drive the market

The global adhesives and sealants market is primarily driven by advancements in the building and construction industry. The increase in the number of upcoming commercial construction projects, especially in Asia Pacific, Middle East and Africa, is expected to propel the adhesives and sealants market in these regions. The residential and non-residential construction sectors in the United States have grown in recent years. This trend is expected to continue over the forecast period. The residential construction industry in the United States grew by 10.52% annually in 2016 and 10.58% in 2017. The non-residential construction industry grew by 7.71% from 2015 to 2016. Construction of healthcare, commercial and office buildings have increased in the country. The housing industry in the United States is expected to grow at a rapid rate in the near future. New York, Houston, Los Angeles and Chicago are expected to account for 20% of total US construction output by 2026. India is expected to become the third largest construction industry in the world by 2026.

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Implementation of strict environmental regulations related to VOC emissions to restrict the market

Emissions of volatile organic compounds (VOCs) from the use of adhesives pose a threat to the environment. Several countries have established guidelines limiting the amount of VOCs emitted when using adhesives, especially solvent-based adhesives, in industries. Manufacturing operations are bound by rules and regulations concerning the assessment, registration, storage, use, handling and transport of certain substances and their emissions, effluents and other wastes. Violation of these regulations is expected to result in a legal compromise of the company’s future business activities.

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These environmental regulations restrict the demand for solvent-based adhesives in the packaging and printing industries, as heavy penalties and losses can be incurred due to the violation of these government regulations. Therefore, most of the market players are switching from solvent based adhesives to water based adhesives. Rapid industrialization and urbanization have increased air pollution, which has affected the health of people around the world. Several developing and developed countries such as the United States, India and China are under pressure from national and international regulators to formulate regulations to control VOC emissions and reduce pollution.

Acrylics segment to dominate the global adhesives and sealants market

Based on resin, the adhesives market has been segmented into acrylics, epoxy, polyvinyl acetate (PVA), polyurethane (PU), styrene block, ethyl vinyl acetate (EVA) and other resins such as silicone, polyester and fluoropolymer. In terms of resin, the sealant market has been divided into acrylics, epoxy, polyvinyl acetate (PVA), polyurethane (PU), silicone and others such as polyester and fluoropolymer.

The acrylic segment dominated the adhesives market. Acrylic resins are widely used in the production of heat-resistant, water-based and UV-curing adhesives. In addition, the resins have strong bonding characteristics, fast setting time and good environmental resistance.

The acrylic segment of the sealant market is expected to expand at a rapid rate during the forecast period. Favorable physical properties such as good peel, impact and tensile shear strength are driving the demand for acrylic sealants. The excellent adhesion properties exhibited on substrates such as steel and aluminum are expected to drive their demand in the automotive, consumer and construction sectors.

Water-based segment to drive the adhesives market

In terms of technology, the adhesives market has been categorized into water-based, solvent-based, hot melt and reactive and others, which includes powders and oils. The water-based segment of the adhesives market is expected to expand at a rapid rate during the forecast period due to their environmentally friendly nature. Water-based adhesives meet US and EU standards for VOC emissions. In addition to their low toxicity, their high water content makes water-based adhesives less flammable and reduces hazardous waste.

Automotive and Transportation Segment Dominates the Adhesives and Sealants Market

Based on Application, the Adhesives market has been divided into Paper & Packaging, Building & Construction, Woodworking, Automotive & Transportation, Consumer / DIY, Leather & Footwear, and others such as Electronics & Marine . The sealants market has been divided into building and construction, automotive and transportation, consumer, other which includes industry, woodworking, packaging, and electronics.

The global automotive industry is replacing welding of engine parts assembly with adhesives and sealants to reduce vehicle weight. Reducing vehicle weight increases fuel efficiency. Automotive manufacturers use adhesives and sealants to bond and seal the interior, exterior, underside of the hood, subframe and other related parts of vehicles. Most of the major car manufacturers around the world use epoxy resin based adhesives because they provide a strong and durable bond of different materials.

Asia-Pacific Dominates the Global Adhesives and Sealants Market

In terms of region, the global adhesives and sealants market has been divided into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. On the basis of consumption, Asia-Pacific is expected to create lucrative opportunities in the adhesives and sealants market during the forecast period. The Asia-Pacific market, especially China and India, is booming. This, in turn, drives the demand for building and building materials such as adhesives and sealants.

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Demand for adhesives and sealants in North America is driven by the presence of a large number of end-use industries and increasing construction spending in the United States. such as 3M, BASF and Avery Denison are expected to fuel demand during the forecast period.

High degree of competition between market players

A high degree of competition exists among market players operating in the adhesives and sealants market. The market is dominated by a few major players and is moderately consolidated. The major players operating in the adhesives and sealants market are Henkel AG and Co. KGaA, Sika AG., Bostik SA, RPM International Inc., KCC Corporation, HB Fuller Company, The 3M Company, Illinois Tool Works Inc., Avery Dennison Corporation, Huntsman International LLC., DowDuPont Inc., Ashland and Akzo Nobel NV

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