Adhesives & Sealants market is estimated to be over 60 Billion USD with Industrial & Construction sector accounting for major share. Adhesives account for 90% of the global market while sealants making up the balance. Industrial adhesives and sealant market is estimated over 34 Billion USD while construction sector accounts over 22 Billion USD.
According to Prismane Consulting Herfindahl-Hirschman index (HHI) calculations, Adhesives & Sealants market is highly fragmented. The top 100 global manufacturers of synthetic specialty adhesives and sealants have significant sales volume. Amongst these 100 players, the top 5 players account for a whooping share of more than 30% or almost one third of the total market. All other players other than the top 100 account for a marginal share. Major players in adhesives and sealant industry are Henkel, Sika, Bostik and H.B. Fuller, 3M, DowDuPont and Royal. Henkel markets its adhesives and sealants with brand name LOCTITE and has variety of adhesives and sealants in its portfolio. Henkel accounts for more than 20% of global adhesives and sealants market. In terms of product development and sales, companies are investing in R&D, brand building, and consumer relations to support their competitive position.
Polymer dispersion adhesives account for the largest market share in the global adhesives consumption owing to their pricing and versatility. There has been a decline in the solvent based adhesives in the developed economies due to regulations on Volatile Organic Compounds (VOCs) emissions. Polyurethane and silicone based sealants together account for more than 50 per cent of total sealants demand.
Global adhesives and sealants market is estimated to witness an average growth of 4 to 5% during the forecast period 2018 - 2025. Geographically, Asia Pacific is the largest market followed by North America and Western Europe. Western Europe, Central & Eastern Europe and Middle East Africa together account for slightly more than 35%. A growing middle class along with an increase in disposable income and improved standard of living in Asia-Pacific has generated a strong demand for adhesives and sealants.
Growth in the Asian countries has significantly outpaced North America and Western Europe and this trend is estimated to continue in near future. Asia-Pacific is the biggest market at global level in 2017 accounting for almost 40% of the global demand on account of increased adhesive use in athletic footwear and shoe manufacturing market and shift of the footwear manufacturing from North America and Europe to Asia-Pacific regions like China, India, Vietnam, South Korea and other South East Asian Countries. The demand for all types of adhesives and sealants in the Western Europe has been relatively weaker due to more challenging economic conditions. In another major restructuring event; United Kingdom has opted for a hard exit from the European Union, opening speculations and debates on new trade policies in the European Union. The UK is on course to leave the union in March 2019. The U.K. is now renegotiating its future trade relations and planning for two year "transition" period to smooth the way to post-Brexit relations. The ongoing recovery in the North American building & construction sector is likely to push the demand for adhesives and sealants in the mid-term forecast.
New formulations amongst others include OBCs added to hot melt adhesive (HMA) along with other polyolefin elastomers. OBCs are used for compatibilization of polypropylene blends. OBCs can be used in pressure sensitive adhesives (PSA). OBC based adhesives are used in baby diapers and other hygiene products. They are also used as packaging adhesives. The demand of OBCs in adhesive applications is likely to grow at CAGR of around 9.5% in the long-term forecast.
Adhesives & Sealants can be produced from resins and mineral fillers. They are gaining importance in various sectors such as in industrial, automotive, medical, wood working, electrical & electronics, sporting goods and many more niche areas. Adhesives & Sealants offsets traditional joining techniques such as welding, reverting and others due to its price favourability and sustainability. It is suited well in high volume production or assembling product with large volume areas. Selection of proper adhesive depends on various factors like substrates to be joined, application restrictions and user requirements. Adhesives & Sealants can be classified depending on origin (natural & synthetic), resins used, technology and application. The demand for raw materials used in adhesives, such as propylene, ethylene, and vinyl acetate monomer (VAM), have been moving significantly higher in recent years.
Major types of adhesives included in the Global Adhesives & Sealants - 2019 World Analysis are pressure sensitive adhesives, water based adhesives, solvent based adhesives, silicone based solvent, hot melt adhesives, laminating adhesives, electronic adhesives, polyamide hotmelt adhesives, tile adhesives, spray adhesives, surgical sealants & adhesives, automotive adhesives, cyanoacrylate adhesives, reactive adhesives, epoxy adhesives, structural adhesives and uv curing adhesives. The sealants included as a part of the study include polyacrylate sealants, silicone sealants, urethane sealants, thread sealants, gaskets and flange sealants, elastomeric sealants and anaerobic sealants. Major manufacturers and their detailed adhesives and sealants product portfolio have been discussed in the report.
This report has been prepared focusing Hot Melt Adhesives and covers worldwide view of Hot Melt Adhesives, along with historical perspective, forecast and strategic recommendations.
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