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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