San Francisco, California (PRWEB) July 24, 2014
The global market for adhesives and sealants is expected to reach USD 43,195.5 million by 2020, according to a new study by Grand View Research, Inc. Growth of construction, automotive and packaging industries, mainly in China, India and Brazil is expected to drive the demand for both adhesives and sealants over the forecast period. However, fluctuation in prices of key feedstocks is expected to remain a primary challenge for industry participants. In addition, stringent regulatory framework, mainly in the U.S. and Europe, owing to growing environmental concerns is expected to hinder the market growth over the next six years. In order to overcome the aforementioned challenges, the industry has been shifting its focus towards developing renewable alternatives to petroleum based adhesives and sealants. Renewable adhesives and sealants are produced using vegetable oils and are environmental friendly in nature.
Water based adhesives dominated the global market, accounting for over 46% of total market volume in 2013. Water based adhesives have low environmental impact with no VOC emissions, a key factor for their high market penetration. Water based adhesives are expected to completely replace solvent based adhesives in the U.S. and European markets over the next decade. Water based adhesives are also expected to be the fastest growing technology, at an estimated CAGR of 5.4% from 2014 to 2020. The global market for hot melt adhesives is expected to reach 2,379.9 kilo tons by 2020, growing at an estimated CAGR of 5.1% from 2014 to 2020.
The report “Adhesives and Sealants Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global adhesives and sealants market on the basis of technology, product, application and region:
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Asia Pacific Adhesives And Sealants Market Analysis By Technology (Water-Based, Solvent-Based, Hot Melt, Reactive), By Product (Acrylic, PVA, Polyurethane), By Application Expected to Reach USD 18.79 Billion by 2020: Grand View Research, Inc (http://www.grandviewresearch.com/industry-analysis/asia-pacific-adhesives-and-sealants-market)
Asia Pacific adhesives and sealants market is expected to reach USD 18.79 billion by 2020, according to a new study by Grand View Research, Inc. Positive demand outlook from key end use industries including automotive and construction, mainly in China and India, is expected to be a key driving force for the market over the next six years. Tight raw material supply coupled with an unfavorable regulatory scenario for key export markets is expected to inhibit growth over the forecast period.
Latin America Adhesives And Sealants Market Analysis By Technology (Water-Based, Solvent-Based, Hot Melt), By Product (Acrylic, PVA), By Application (Pressure Sensitive Applications) Expected to Reach USD 2.47 Billion by 2020: Grand View Research, Inc (http://www.grandviewresearch.com/industry-analysis/latin-america-adhesives-and-sealants-market)
Latin America market for adhesives and sealants is expected to reach USD 2.47 billion by 2020, according to a new study by Grand View Research, Inc. Growth of major end use industries such as automotive and construction, mainly in Brazil and Argentina is expected to boost the demand for adhesives and sealants over the forecast period. In addition, increasing market penetration of adhesives in medical industry is also expected to drive have positive impact on demand over the next six years. However, volatility in raw material prices coupled with growing environmental concerns is expected to be a key challenge for market participants.