The competitive landscape in the adhesives and sealants market has been discussed in detail. Forecast values for the market have been provided in the report for the period of 2019-2026. Additionally, the report identifies areas that have witnessed the highest demand and applications for the product in recent years.
Adhesives are metallic substances that are used to bind to surfaces together. A sealant is nothing but a solid and flexible substance that is used to block the passage of fluids, air, noise, and other such factors. To put it in a much clear context, a stronger version of sealants is categorized as adhesives. Adhesives and sealants have numerous applications across diverse industries.
list of prominent companies that are operating in the global adhesives and sealants market are:
- Dennison Corporation
- Illinois Tool Works
- Bostik SA
- KCC Corporation
- H.B. Fuller
- Huntsman International LLC.
- RPM International Inc.
- Akzo Nobel
- N.V. Arkema
They are widely used in the automotive and packaging industry. Besides packaging, they are used for other applications furniture, appliances, and footwear. The increasing applications of these products and a subsequent rise in their demand in recent years, will have a direct impact on the growth of the market in the forthcoming years.
The report encompasses several factors that have contributed to the growth of the market in recent years. Besides growth stimulators, it discusses a few of the factors that have restrained market growth. The report highlights a few of the leading products, major companies, and major industry developments of recent times.
Growing Mergers and Acquisitions to Provide Impetus to Market Growth
Among all strategies adopted by major companies in the world, company mergers have been most widely adopted. The increasing number of major company collaborations have emerged in favor of market growth. In September 2019, Sika announced the acquisition of Crevo-Hengxin, a company engaged in manufacture of silicon adhesives and coatings.
With this acquisition, the company plans to expand in China and establish a silicone production footprint. Encouraged by the huge potential held by adhesives and sealants, companies are looking to invest hugely in these products. The report includes major company mergers, similar to Sika’s latest acquisition and highlights their importance on the global market.
Major Segments Includes:
By Adhesive technology
- Water Based
- Solvent based
- Hot Melt
By Sealant Resin type
- Building & Construction
- Automotive & Transportation
- Electrical & Electronics
- Consumer goods
High Product Demand in Asia Pacific to Aid Growth of the Regional Market
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the use of adhesives and sealants is the highest in Asia Pacific. The demand for adhesives and sealants is spread across diverse applications, including building and construction, automotive and transport, and others in emerging countries such as India, China, and Japan. China has emerged as the country that has witnessed the highest consumption and use of adhesive solutions for diverse applications.
Key Industry Developments:
August 2018: Huntsman Corporation opened a new multi-purpose facility at the Amata Vietnam Industrial Park.
February 2019: H.B. Fuller introduced two new hot melt and pressure sensitive adhesive (PSA) products.
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