Adhesives and Sealants Market Is Projected To Reach USD 43,195.5 Million by 2020: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to new report published by Grand View Research, the global market for adhesives and sealants will reach USD 43,195.5 million by 2020. Effective properties of sealants such as corrosion resistance, filling gaps, material insolubility can foster growth of the market during the forecast period.

According to a report by Grand View Research, Inc.; the global adhesives and sealants market is projected to attain a valuation of around USD 43,195.5 million by 2020. Growing requirement for advanced substance to join different materials is anticipated to propel demand for adhesives and sealants in the coming years. Such adhesives and sealants are expected to offer useful properties such as material insolubility, corrosion resistance, and ability to avoid relative movement of substrates.  

High demand for advanced and high-performance materials to attach different materials can fuel market growth. Effective properties of sealants such as corrosion resistance, filling gaps, material insolubility can foster growth of the market during the forecast period (2012 to 2020).

The adhesives and sealants market can be segregated on the basis of product type, application, and region. Based on product type, adhesives can be classified into polyvinyl acetate (PVA), polyurethane, acrylic, styrenic block, epoxy, EVA, others. Whereas, sealants can be classified into polyurethane, silicones, PVA, acrylic, and others. In 2014, acrylic segment dominated the market while accounting for 37% of market share. It can grow at a phenomenal CAGR of 5.3% during the period 2014 to 2020. In addition, PVA accounted for 28% of market share in the same year. It can be used in wood and packaging sector. On the contrary, silicone based sealants dominated the market while accounting for 30.3% of market share in 2013. Growing use of such sealants in automobiles and partitions can fuel its demand during the forecast period.

Full Research Report On Adhesives & Sealants Market Analysis: https://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market

U.S. Adhesive & Sealant market size by application, 2012 – 2020 (USD Billion)

Based on applications, the market can be divided into pressure sensitive applications (PSA), packaging, construction, furniture, footwear, automotive, and others. In 2014, PSA segment dominated the market and accounted for 29% of market share. In addition, footwear segment is anticipated to grow well in the coming years owing to rising demand for advanced and customized footwear for consumer use. Effective properties of adhesives and sealants are likely to offer easy bonding between different materials and better finishing in footwear. Moreover, automotive segment is estimated to grow owing to increasing use of adhesives and sealants in bonding, laminating, and assembling of various interior parts in automobiles. Polyurethane and epoxy are likely to be mostly used adhesives in automobile sector owing to rising demand for reduction in overall weight of vehicles.  

Regional segmentation includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In Asia Pacific, the market is expected to witness significant growth during the forecast period owing to high demand from emerging economies such as China, India, and Japan. China is likely to lead in terms of consumption. In 2013, Asia Pacific dominated the market owing to growth in industrialization, GDP, and local manufacturing. In addition, growing demand from end-used industries such as packaging, construction, and automotive can fuel market growth in the region.

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Global Adhesive & Sealant market share by product, 2015 (%)

In Europe, the market is expected to grow slow owing to tough regulations towards use of synthetic products to protect environment. In addition, debt crisis in the region can affect industrial output and product demand in the coming years. However, the region accounted for second largest share of 27.7% by volume in 2013.

On the contrary, manufacturers of sealants in the region can witness significant growth owing to new publicly financed infrastructure projects. In addition, efforts from European nations to reduce CO2 emissions and enhance energy efficiency can fuel renovation of old buildings in the region.

In North America, the market can grow well during the forecast period owing to high prevalence of manufacturers and regular technological developments in the region.

Stringent regulations from federal agencies and several environmental bodies to produce bio-based products are expected to hinder growth of the market. Reduction in carbon front owing to bio-based products can display their advantage over synthetic counterparts. In addition, fluctuation in prices of major feedstocks can obstruct market growth.

Some of the leading companies offering adhesives and sealants are HB Fuller, Henkel, 3M, BASF, and Dow Chemical Company. Most companies are expected to go for mergers and acquisitions with other companies to maintain position in the market.  

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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