Global adhesives & sealants market size is expected to reach USD 43.19 billion by 2020, as per a new research report by Radiant Insights, Inc. Strong demand from packaging, construction and automotive industries is expected drive adhesives and sealants market.
Key uses include insulation, facades, panel lamenting, flooring, coating, and lamination along with a host of other applications, being significant revenue contributors to the adhesives & sealants market in recent times. Volatile raw material supply is likely to exert pressure on profit margins and deter industry growth. Regulatory evolution is also anticipated to play a key role in adhesives market development over the next five years.
Surge in R&D Spending
The industry has witnessed a surge in R&D spending over the last three years, with product innovation and application development being key focal points. Innovation is likely to move forward in sustainable solutions using bio-based raw material sources.
Key report insights suggest:
- Global adhesives market is expected to reach USD 34.68 billion by 2020, growing at 5.6% from 2014 to 2020. Global sealants market was estimated at USD 6.1 billion in 2014.
- Asia Pacific continued its dominance in the global adhesives market and accounted for over 40% of the global market in 2013. Asia Pacific was also the most significant regional sealants market and accounted for over 39% of the total volume in 2014, driven by high infrastructure spending.
- Water based adhesives emerged as the leading technology in the overall market and accounted for over 46% of the adhesives market in 2014. Solvent based and hot melt adhesive products accounted for 18% each of the total market in 2014.
- Acrylic adhesives market demand is expected to exceed 4.7 million tons by 2020, while polyurethane based adhesives are estimated to grow at 6.1% from 2014 to 2020.
- Pressure sensitive applications are expected to grow at over 5% during the forecast period, followed by packaging which accounted for over 20% of total market volume in 2014. Sealants market demand for automotive applications is anticipated to exceed USD 2.6 billion by 2020, growing at over 6%.
With the market being concentrated and price sensitive, key manufacturers including HB Fuller, Henkel, Danimer, and Dow have initiated programs focusing on the development and commercialization of sustainable products.
About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.
Source: Radiant Insights