The report “Adhesives & Sealants Market by Chemical Types, by Technology, by Applications (Pressure Sensitive Adhesive, Packaging, Construction, Automotive, Woodwork, & Others), by Geography - Global Trends & Forecasts to 2018 (2013 - 2018)” defines and segments the global adhesives & sealants market with analysis and forecasting of the global volumes & revenues for adhesives & sealants. It also identifies driving and restraining factors for the global adhesives and sealants market with analysis of trends, opportunities, burning issues and challenges. The market is segmented and revenues are forecasted on the basis of major geographies such as North America, Europe, Asia-Pacific, and Rest of the World (ROW). The key countries are covered and forecasted for each geographical region. Further, market is segmented and revenues are forecasted on the basis of raw materials and application types.
The market for adhesives and sealants is being driven a rising trend in various end user segments to use eco-friendly or green adhesives and sealants or those with low VOC (volatile organic compound). Further, technological advancement in production capabilities and enhancing properties of adhesives and sealants will be fuelling the growth. The ever-increasing need for high standard performance across all modern applications is driving the growth of adhesives and sealants. This also results in the development of newer and improved application and performance properties. Adhesive and sealant systems that are fast, easy, and low cost are in demand. The major hurdle, which is currently inhibiting the growth of the market, is volatility in the prices of the raw material for adhesives and sealants.
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Asia-Pacific: a market place of Adhesives & Sealants
The industry is witnessing high growth on an account of growing demand in the Asia-Pacific region. China and India are the biggest consumers of adhesives and sealants due to rapid industrialization and infrastructure growth. Japan, Korea, and Taiwan have high per capita consumption of adhesives and sealants and thus, are expected to grow with a moderate CAGR.
The packaging, construction, and automotive industries are growing at a high rate in China and India driving the demand of adhesives and sealants. There is low control on consumption of high VOC adhesives and sealants in China and India due to the absence of related Government policies.
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Key Market Players
Market players are concentrating on expanding their product portfolio and offer it to the consumers at competitive prices. The major market players are focusing on R&D activities to innovate products under the stringent regulations of EPA (Environment Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals).
Other development strategies opted by the market players include signing agreements & collaborations to optimize their distribution chain in the growing economies.
Key participants in adhesives and sealants market are Henkel (Germany), Bayer Material Science (Germany), BASF (Germany), H. B. Fuller (U.S.), Sika AG (Switzerland), The Dow Chemical Company (U.S.), and other market participants.
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