Summary
Global Adhesives and Sealants Market-Segmented by Technology, End-User Industries, Type and Geography-Trends and Forecasts( 2017-2022)
Description
The global adhesives market was valued at USD 40,037.17 million in 2015 and is projected to reach USD 56,954.42 million by 2021, at a CAGR of 6.05 %% during the forecast period, 2016 to 2021. The global sealants market was valued at USD 6,354.62 million in 2015 and is projected to reach USD 9,060.17 million by 2021, growing at a CAGR of 6.09 %, during the forecast period 2016-2021.
Market Dynamics
The major raw materials of adhesives and sealants are petroleum-derived, whose prices are directly linked to the price of oil & gas; hence, the low crude oil prices are driving the market, currently. These factors are accelerating the demand from the automotive industry, increasing the demand from the packaging industry, and shifting focus towards composites. However, the market faces certain drawbacks, such as stringent environmental regulations regarding VOC emissions, and economic slowdown in Europe. These factors may act as a roadblock to the growth of the market.
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Market Segmentation
The global adhesives and sealants market has been segmented, by end-user industry which includes building & construction, packaging, wood-work & joinery, transportation, footwear & leather, healthcare, electronics, and certain other industries. The paper, board, and packaging segment accounted the highest share in the adhesives market in 2015, with a share of around 23 %, while building and construction segment dominated the sealants market in 2015, with around 46 % share.
The global adhesives market, by technology, is broadly segmented into water-borne adhesives, solventborne adhesives, reactive adhesives, hot melts adhesives, and others. The reactive adhesives segment is expected to witness the highest growth rate during the forecast period. The water-borne adhesives segment accounts for the highest share, accounting for over 47 % of the global market. The sealants market has been further segmented by the product type into- silicone, polyurethane, acrylic, polyvinyl acetate, and others.
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The Following Chart Shows The Market Segmentation Of Adhesives Market, By Technology:-
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