According to a recent report by San Francisco-based Grand View Research, global Adhesives and Sealants market is expected to reach $43,195.5 Million by the end of 2020
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.
Request free sample of this report at http://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market/request.
Further key findings from the study suggest:
- The global market for adhesives was 8.976.6 kilo tons in 2013 and is expected to reach 12,392.2 kilo tons by 2020, growing at a CAGR of 4.7% from 2014 to 2020. On the other hand, the global market for sealants was 1,764.5 kilo tons in 2013 and is expected to reach 2,371.5 kilo tons by 2020, growing at a CAGR of 4.3% from 2014 to 2020.
- Acrylic adhesives emerged as the leading product segment in the overall market for adhesives and accounted for 36.9% of total market volume in 2013. Acrylic adhesives are also expected to be the fastest growing adhesive product at an estimated CAGR of 5.3% from 2014 to 2020. Acrylic adhesives were followed by Polyvinyl Acetate (PVA) adhesives which accounted for 28.1% of total market volume in 2013. Silicones emerged as the leading product in the overall sealants market and accounted for 30.3% of total market volume in 2013. Along with being the largest product segment, silicones are also expected to be the fastest growing, at an estimated CAGR of 4.9% from 2014 to 2020.
- Pressure sensitive applications emerged as the largest segment and accounted for 29.1% of total market volume in 2013. However, furniture is expected to be the fastest growing market for adhesives at an estimated CAGR of 5.9% from 2014 to 2020. Growing disposable income level in China, Brazil and India is expected to drive the demand over the forecast period. Construction remained the largest application segment for sealants and accounted for 27.3% in 2013. Automotive followed construction and accounted for 19.2% of total sealants market volume in 2013.
- Asia Pacific dominated both, adhesives and sealants demand and accounted for 42.6% and 39.2% of total market in 2013, respectively. Europe followed Asia Pacific in the overall market and accounted for over 28% of total market volume in 2013. Asia Pacific is also expected to be the fastest growing regional market for adhesives and sealants, at an estimated CAGR of 5.9% and 5.3% from 2014 to 2020, respectively.
- The global market for adhesives and sealants is dominated by multinational corporations, present across the value chain. The global market is fairly concentrated with top four companies including Henkel, 3M, HB Fuller and Dow Chemical Company, which accounted for nearly 48% of total market in 2013. Some other key companies operating in the global market include Avery Dennison, BASF, Eastman Chemical Company, Bostik SA, Ashland Inc. and Ellsworth Adhesives.
Browse all reports of this category at http://www.grandviewresearch.com/industry/bulk-chemicals.
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:
- Global Adhesives Technology Outlook
• Hot Melt
• Reactive & Other
- Global Adhesives Product Outlook
• Styrenic Block
- Global Adhesives Application Outlook
• Pressure Sensitive Applications
- Adhesives Regional Outlook,
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
- Global Sealants Product Outlook
- Global Sealants Application Outlook
• Pressure Sensitive Tapes
- Sealants Regional Outlook,
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Browse all Grand View Research Ongoing Reports at http://www.grandviewresearch.com/ongoing-reports.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
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.