Adhesives and Sealants: A Global Strategic Business Report
San Jose, CA (Vocus) October 18, 2010
Adhesives and sealants are extensively used in packaging, automotive, electronics, footwear, construction repair and remodeling, textiles, consumer goods, shipbuilding, and miscellaneous uses. As a result, market for adhesives and sealants is highly variable and dependent on factors, such as economic conditions, growth in GDP, consumer purchasing power, and the overall health of end-user industries. Adhesives and sealants market witnessed significant downturn in the years 2008 and 2009, following the financial crisis that engulfed the global economy. Construction, automotive, electronics, and wood-working adhesive end-use witnessed the steepest declines in 2009, while packaging and disposable adhesives sustained the best. Although the negative sales trend will reverse in 2010, demand will continue to remain modest through 2012. As stated by the new market research report on adhesives & sealants, Europe and United States collectively account for a major share of the global adhesives market as well as the global sealants market in terms of volume sales.
In addition to challenges put forth by economic recession, adhesives and sealant industry confronts challenges manifested in the form of volatility in raw material costs. There are also substantial overcapacity issues in the industry, in the manufacturers-suppliers-customers value chain, making recovery phase fiercely competitive. Besides raw material price hikes and heightened levels of competition, suppliers are also facing constant pressure to keep costs low. All these factors creates a challenging environment that requires a sharp focus on efficiency, lean manufacturing practices and establishing the best possible network of business relationships.
While Europe and North America recorded negative sales trends, growth in Asia-Pacific remained modest as gains in China counterbalanced the large declines of mature economies of Taiwan and South Korea. Market conditions in developed nations including US, Europe and Japan have reached maturity stage. In order to ward off threats such as falling sales, most of the companies are turning to developing nations, which offer them sustained demand. Market for sealants in Asia-Pacific in expected to reach 816.6 million pounds by 2015.
Innovation, and product differentiation based on next generation technology is assuming a more critical role and importance, especially so during the current recession. In times of uncertainties, manufacturers have resorted to investments in next-generation technologies despite the need to curtail costs in an unfavorable business environment, which stands overridden with a simultaneous need to develop a platform for future growth. The year 2009 & 2010, witnessed the entry of new VOC compliant adhesives and green adhesive and sealants. In terms of product segment, silicone and polyurethane products dominate the world sealants market. Global market for silicone sealants is projected to reach US$1.6 billion by 2015.
In the post recession period, the trend toward lowering VOCs and increasing sustainability will pick up steam in the adhesive and sealants market. For example, in construction sector more emphasis will be laid on environmental sustainability and energy efficiency requiring new adhesive and sealant products to meet ‘green’ standards, while in packaging sector, concerns about sustainability and recyclability of packaging materials will drive development of new adhesive and sealant products. In product assembly sector, conventional substrates will be substituted by novel materials that are lower in weight and cost. As fuel prices increase, the need for more fuel-efficient vehicles in transportation industry such as hybrid cars, composite aircraft, or high-speed trains will also increase manifold. As a result, the need for new adhesives and sealants to coat, seal and protect these novel materials in an environmentally friendly fashion will be a key driver for growth in the market.
Key players in the marketplace include 3M Company, Adhesives Research, Ashland Inc, AkzoNobel Chemicals B.V., Avery Dennison Corporation, BASF SE, Beardow and Adams (Adhesives) Ltd., Bolton Group, Bostik, Dow Automotive, Dynea International Oy, Eastman Chemical Company, ExxonMobil Chemical Company, Ferro Corporation, H.B. Fuller Company, Henkel Corporation, Hernon Manufacturing, Hexion Specialty Chemicals, Hindustan Adhesives Limited, Huntsman Polyurethanes, ITW Performance Polymers Consumer Division, PPG Aerospace, Rohm and Haas Company, RPM International, Scapa Group Plc, Shurtape Technologies, Sika AG, Specialty Minerals, Super Glue Corporation, Tesa AG, and Wisdom Adhesives Company, among others.
The research report titled “Adhesives and Sealants: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, competition, drivers, technology trends, product overview, product introductions/innovations, and recent industry activity. The study provides market estimates and projections in value (US$) and volume (Pounds) for regions such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, and Rest of World.
Market for adhesives is analyzed by chemical types, such as, Styrene Butadiene Rubber, Phenolic, Polyolefin, Epoxy, Starch & Dextrin, Acrylic (Cyanoacrylic & Others, Acrylic PSA, and Acrylic Emulsion), Urea Formaldehyde, Polyvinyl Acetal, Polyvinyl Acetate, Neoprene, Thermoplastic Rubber, Polyurethane, Natural Rubber, Protein, Furan, Polyvinyl Chloride, Reclaimed Rubber, Silicate, Silicone Rubber, Polyamide, Polyvinyl Alcohol, Nitrile, Butyl Rubber & PIB, Polyester, Ethylene, Bitumen, and Miscellaneous. Market for sealants is analyzed by chemical types, such as, Anaerobic, Acrylic, Latex, Bitumen, Butyl Rubber, Epoxy, Oleoresinous, Polysulphide, Polyurethane, Polyvinyl-based, Polyvinyl Alcohol, Polyvinyl Chloride-based, Reclaimed Rubber, Silicone, Styrene Butadiene Rubber, Thermoplastic Rubber, and Miscellaneous.
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