The global adhesives and sealants market should reach $81.8 billion by 2023 from $63.7 billion in 2018 at a compound annual growth rate (CAGR) of 5.1% for the period 2018 to 2023.
The report has been prepared in a simple format that can be easily understood with number of tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for various types of adhesives and sealants, with the reasons given for variations in the growth of the industry in certain regions.
Report Includes: https://www.trendsmarketresearch.com/report/sample/11571
– 99 data tables and 37 additional tables
– An overview of the global markets for adhesives and sealants within the industry
– Analyses of global market trends with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Study and impact analysis of various types of new raw materials, which are being used with increasing newer applications
– Information on the product life style and technology life style (TLC) of various types of adhesives and sealants and methods employed by various manufacturers and users in maintaining ecological balance
– Profiles of various major manufacturers and suppliers of adhesives and sealants, including 3M Co., Dow Corning Corp., H.B. Fuller Co., Power Adhesives, Ltd., Scott Bader Co. Ltd., Total S.A. and Wisdom Adhesives
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The adhesives and sealants industry is made up of two chemically similar but functionally different groups of formulated products, adhesives and sealants. Adhesive products are used to create a bond between two different or similar materials. Sealants are used to create an impenetrable barrier to gas or moisture. Adhesives and sealants are made from precise blends of petroleum-derived plastic resins, synthetic rubber elastomers, and agents or additives used to enhance certain characteristics.
The adhesives and sealants industry consists primarily of manufacturers of industrial and household adhesives, glues, caulking compounds, sealants, and linoleum, tile, and rubber cements from vegetable, animal, or synthetic plastics materials, purchased or produced within the same company.
It has been a moderate year for the adhesives and sealants industry. As industrial sectors and the housing market showed moderate growth, manufacturers of adhesives and sealants have also reported a moderate increase in demand. The major markets for adhesives and sealants, transportation and construction, are growing at a significantly slower rate, which has had a negative impact on other segments of the adhesives and sealants market.
Most of the major markets had stabilized somewhat in 2017 and in the first half of 2018, the current demand generated by major industrial customers remained moderate. The manufacturing output among major industrial customers has risen moderately, enabling some development of the specialty adhesives and surface treatment segment. This is particularly so in the case of the automotive and electronics sectors and the metals industry, with the associated markets showing moderate increases in demand.
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Despite the minimal growth in major industrialized countries, the Far East continues to represent the highest growth region. Four countries are highlighted as representing opportunities for significant growth—China, South Korea, Taiwan, and Vietnam. Eastern Europe has three major markets showing above average demand growth—Poland, Hungary, and Russia. With growing investment in its industrial base, India has also become a major growth area in the Asia region and has the potential to develop into a significant market for adhesive and sealant products.
Increased demand for adhesives and sealant is driven by the emergence of new market applications that have resulted from evolving and improving assembly processes. Growth opportunities have been brought about by a shift from major forms of industrial joining such as welding and mechanical fastening to adhesive bonding in major industries such as automobiles. Similarly, miniaturization of components in the electronics industries has enabled the use of adhesives to replace soldering and brazing in these industries. Nano-engineered adhesives and sealants that combine superior mechanical properties with wear resistance and dimensional stability is increasing the demand for adhesives in various industries.
One of the factors that inhibits the growth of the adhesives and sealants industry is an increase in oil prices and the consequent increase in raw material prices. When prices of oil and intermediate materials rise sharply, prices of finished goods move up relatively little, thus leading to a high degree of uncertainty about higher inflation in the pipeline due to such a disparity.
This post was originally published on Raleigh Recorder