Global Adhesives and Sealants market is heading towards growth phase with 4.87% CAGR through 2025
SOUTHLAKE, TX, UNITED STATES, October 21, 2019 /EINPresswire.com/ — Global Adhesives and Sealants Market is poised to report 4.87% CAGR during the forecast period 2019 to 2025 driven by strong growth in infrastructure activity, rapid urbanization along with shifting consumer preference towards composites and hot melt adhesives.
Further, the growing consumption of Adhesives and Sealants by the automotive sector to meet the requirement of low carbon-emitting and lightweight vehicles is amidst the key market trend positively impacting market growth.
In addition, rising demand for non-hazardous, green adhesives and development of hybrid resins are the factors set to offer opportunities for the key vendors.
Improvement in the packaging industry and infrastructural developments in emerged economics is another factor that provides an opportunity in future for the growth of adhesives and sealants market.
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Penetration of polyurethane sealant resin with strong market share is increasingly driven by end-user applications including packaging laminations, automotive windshield bonding to obtain the advantages of less cure time and low viscosity, resulting to propel the adhesives and sealants market size in future.
However, fluctuations in prices of raw materials, environmental regulations on hazardous adhesives and volatile sealants are among the factors set to slump the adhesive and sealants market value.
By application, Pressure sensitive segment is set to proceed growth phase across adhesives and sealants market
Pressure sensitive adhesives (PSA) application segment is driven by significant demand for pressure sensitive tapes of non-chemical nature. Accordingly, utilization of PSA for automotive interior trim assembly, safety labels for power equipment, and vibration damping films are set to drive the segment growth.
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Further, stringent regulations in developed regions to reduce carbon prints with fuel efficiency drives the market demand across automotive & transportation segment, To reach the goal of lightweight, efficient, and eco-friendly cars, pressure sensitive adhesives segment is set to grow at a steady rate in terms of market value.
Reactive & others remain as the dominant technology segment in global adhesives and sealants market
Key manufacturers are drawn towards reactive technology to formulate adhesives and sealants owing to their unique optical properties as well as exceptional thermal and electrical management ability.
Asia Pacific pers across adhesives and sealants market with strong market growth over the forecast period
Asia Pacific is set to emerge with strong market growth over the forecast period driven by lucrative augmentation in automotive and construction sectors Asian Countries. China holds the major market share for adhesives and sealants market regarding consumption due to high economic growth and increasing population.
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Rising disposal income of consumers is another factor boosting the adhesive and sealants market share across Asia Pacific.
Further, growth in the manufacturing sector is anticipated to drive sealant demand from automotive, industrial machinery, and electrical and electronics industries in Asia Pacific region.
Major competitors participating in acquisitions and innovative product portfolio are enticing the adhesives and sealants market value
Key market players are set to showcase market presence by launching innovative products. For instance, in 2019, H. B. Fuller launched two products including whitening adhesive with features of excellent film clarity and superior non-water whitening performance as well as the next generation of adhesive solutions for woodworking with reduced hazardous emissions and VOCs.
Further, major players are investing in acquisitions to enhance production capabilities and capture significant market share. For instance, in 2019, Arkema (Bostik SA) acquired Prochimir to widen its offering of solvent-free thermal bonding solutions earmarked across automotive, construction, textile, and medical industries.
In addition, in 2019, Henkel AG invested USD 39.4 billion and opened a new European hub for high-performing aerospace solutions, to meet the growing demand and concentrate on the key market trend of lightweight and fuel-efficient vehicles.
Arkema, Avery Dennison, DowDuPont Inc., H.B. Fuller, Huntsman, Henkel, Illinois Tool Works (ITW), 3M Company, Sika, Wacker Chemie AG are among key players impacting the growth of adhesives and sealants market size.
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Source: EIN Presswire