According to the latest market research study released by Technavio, the global adhesives and sealants market is expected to grow at a CAGR of over 5% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global adhesives and sealants market based on application:
Global adhesives and sealants market share by application 2015
|
Building and construction |
33.15% |
|
Paper and packaging |
24.16% |
|
Transportation |
17.04% |
|
Leather and footwear |
11.06% |
|
Furniture |
7.85% |
|
Others |
6.74% |
Source: Technavio
The top three revenue contributing application segments are discussed below:
Global adhesives and sealants market in building and construction segment
In 2015, the building and construction segment accounted for around 33% in the global adhesives and sealants market. The key revenue generating region for this segment are India and China in the APAC region, due to the growth of the construction industry in these emerging countries. It is expected that the segment will grow at a steady rate during the forecast period. Until 2010, the US was considered to be the largest construction industry till China surpassed the US. In 2015, China accounted for around 18% of the global market share and is expected to increase to over 26% by 2025. Technavio’s analysts expect that the country will have the largest share in the global adhesives and sealants market during the forecast period, as it is predicted that the US will account for around 12% of the global market share by 2025, which is much lesser than that of China. Apart from this, the contribution from other nations to this sector is comparatively lesser than China. For instance, it is expected that the growth of the market in Western Europe is likely to decline whereas the market share of North America will increase by 40% during the forecast period.
“Owing to the slow population growth of China, of late it has been observed that the growth rate in the construction market of China is not so steady. However, few aspects of the nation such as increased urbanization and the growth in the middle class segment are expected to drive the growth of the construction market in China during the forecast period. The total consumption of adhesives and sealants in the construction industry is directly proportional to the growth of the GDP in a specific nation,” says Swapnil TS, a senior analyst at Technavio for research on additives, adhesives, and sealants.
It is expected that the use of adhesives and sealants in the construction sector will increase as the global construction industry accounts for around 10% of the global GDP.
Global adhesives and sealants market in paper and packaging segment
The paper and packaging segment accounted for around 24% in the global adhesives and sealants market, in 2015. Recently, it has been obeserved that the utilisation of adhesives has increased in many paper bonding applications such as the production of corrugated boxes and lamination of printed sheets, where laminated printed sheets are used for packing consumer products. Besides this, adhesives are used by the manufacturers of roll goods and other related materials for the manufacturing of large industrial tubes and cores. Also, they are effectively used in the production of bathroom tissues, paper towels, and books. In the furniture and paper packaging segment, the market for global adhesives and sealants is growing significantly. The key revenue generating region of this segment is APAC, owing to its high economic growth and infrastructurual development. Furthermore, rise in demand for adhesives and sealants from the packaged food and beverages industry will be another major factors boosting the market growth in the coming years.
Global adhesives and sealants market in transportation segment
The transportation segment accounted for around 17% in the global adhesives and sealants market during 2015. The revenue contributing countries of this segment are India and China, attributed to the high adoption rate of automobiles in these emerging economies. There is an increase in the demand for automobiles with better fuel efficiency by the consumers due to the rise in the fuel prices. In spite of the presence of fuel substitutes in the market, the manufacturers of automobiles are concentrating on the production of solutions that will help in plummeting the curb weight of the vehicles, resulting in reduced fuel consumption. The demand for adhesives and sealants in the segment are driven by the increased production of lightweight vehicles. To reduce weight, the automobile manufacturers are using plastics and composite materials, which cannot be welded, so it requires adhesives.
Owing to lightweight and crashworthy properties, structural adhesives are increasingly being used in vehicle assembly. Being resistant to corrosion and chemicals, sealants are used as alternatives to mechanical gaskets in automobiles. The increase in the number of automotive and electronic applications is one of the primary driving forces for the growth of this market.
The top leading vendors operating in the global adhesives and sealants market are:
- 3M
- Arkema
- Dow
- H.B. Fuller
- Henkel
Other prominent vendors in this market are Avery Dennison, ITW, Franklin International, Mapei, Royal Adhesives & Sealants, RPM International, and Wacker Chemie.
A more detailed analysis is available in the Technavio report titled, ‘Global Adhesives and Sealants Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Flexible Packaging Adhesives Technology Market in China 2015-2019
- Adhesives and Sealants Market in China – Trends and Forecast 2015-2019
- Global Packaging Adhesives Market 2015-2019
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