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Adhesives and Sealants – A New Era of Growth
Adhesives & Sealants are one of those commonly available substances which are an important part of our day to day life. They find place in almost every business, industry, and home and offer effective means of joining and assembling different materials, thus adding value to the end users.
Significant differences exist between Adhesives & Sealants but these differences are not recognized & hence they are often lumped together. Adhesives are materials used to hold or stick things together and are usually applied as a thin layer between two surfaces. They are advantageous for joining thin or different materials & minimizing weights. Sealants are materials which are used to fill up spaces. These spaces may be joints, gaps or cavities which exist between two substrates. Sealants are efficiently used for leakage control of fluids or gases & eliminating noise and vibration.
Asia-pacific leads the world in consumption of adhesives and sealants followed by Europe & North America. The largest market in the world is China, which is closely followed by U.S., Japan, Germany and others. Over the next five years, it is expected that Asia-pacific would increase its grip over the Adhesives and Sealants market & would remain the world leader. Key end user markets of Adhesives and Sealants vary from construction to packaging and labeling, transportation and automotive industry. The growth of these major end user industries has influenced the growth of Adhesives and Sealants Market. Asia-Pacific region dominates the world production of Adhesives and Sealants followed by Europe & North America.
Acrylic Adhesives dominate the global Adhesives market and are closely followed by polyvinyl acetate Adhesives, epoxy adhesives, styrenic block adhesives. Whereas the polyvinyl based sealants dominate the global sealants market but in terms of revenue silicone based sealants have the highest share and this trend is expected to continue till 2018.
Based on Chemical Composition, Adhesives can be classified into Acrylic Adhesives, Polyurethane Adhesives, Polyvinyl Acetate Adhesives, Epoxy Adhesives, Ethylene vinyl acetate Adhesives & others.
Acrylic adhesives are highly useful across all industries for e.g. they are used in electronics for PCB wires, in medical technology for disposable plastic medical devices etc. Polyurethane Adhesives can be used for Packaging lamination, bonding fiberglass, Automotive Windshield Bonding etc. PVA Emulsion Adhesives are primarily used for packaging & Furniture applications. Epoxy Adhesives are used in automotive assembly.
Ethylene vinyl acetate Adhesives are used in carpet backing, textile bonding etc.
Adhesives and Sealants market is a highly competitive market with low entry barriers. This market has a large number of raw material suppliers which reduces their bargaining power.
The key drivers of growth in this market are high value adhesives in electronics, better adhesion to a variety of substrates, resistance to chemicals and gas.
One of the primary reasons of using Adhesives and Sealants is their versatility as they can join two materials and simultaneously reduce vibrations and can also act as corrosion inhibitor. Stringent Regulatory Environment has prompted end users to use sustainable or green adhesives which are less harmful to the environment.
Adhesives and Sealants market is witnessing a huge growth with most of the growth coming from Asia-Pacific. This trend is expected to continue over the next 5 years. Asia-Pacific will lead the pack followed by Europe, North America & Rest of the World.
The current market leader, China would continue to lead the world over the course of next 5 years. Highest growth is expected in countries like India, Japan, Germany, UK and France.
The application of sealants in the automotive and transportation is expected to see high growth as compared to rest of the applications. Among adhesives acrylic, polyurethanes, epoxy are expected to have the highest growth rate over the next 5 years.
Active strategic initiatives and new innovations have been a regular feature of the Adhesives and Sealants market. This Market has seen regular innovations which have led to substantial improvement in quality of Adhesives and Sealants available to end-users.
U.S. has been the leading innovator in Adhesives and Sealants market and has been closely followed by Germany & Pacific region.
Dow Chemical Company is the number one supplier of Adhesives and Sealants in the worldfollowed by H.B.Fuller, Henkel AG, PPG, 3 M, Ashland Inc., BASF etc. Adhesives and Sealants market has high growth potential as a number of new innovations coming in this market. These innovations would have a huge impact on the Adhesives and Sealants market. These innovations can prevent toxic adhesives and sealants from entering the environment and hence safeguard workers, wildlife and the environment.
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