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Global Adhesives and Sealants Market to grow at a steady CAGR of 6.2% by 2018
Global Adhesives and Sealants market has entered into the high growth phase over the last three years. This growth has been primarily driven by the high growth in global automotive market over the past few years. Adhesives and Sealants are most preferred because of their capability to reduce noise and vibration. Some of the most prominent Adhesives and Sealants are acrylic, Polyurethanes, silicone, polyvinyl etc. Adhesives and Sealants are used in building and construction, automotive transportation, packaging, woodwork and furniture etc.
Asia-Pacific is the best market to invest
Asia-Pacific continues to lead the world market for Adhesives and Sealants accounting for around 40% of Global market and is expected to grow at a faster pace than any other geography. China would lead the APAC countries in the demand for Adhesives and Sealants with an expected growth rate of more than 6% & would be closely followed by India, Japan & Germany. This growth has been governed by factors like improved infrastructure, high economic growth, etc. European Adhesives and Sealants market is expected to grow at a CAGR of around 5% which is less than Asia-Pacific but higher than North American Market. This is on the account of economic slowdown in Europe.
Acrylic Adhesives to lead the Adhesives and Sealants Market
Acrylic Adhesives were the most demanded Adhesives in 2012 with a global consumption of more than 35%. This trend is expected to continue over the course of next five years wherein Acrylic Adhesives would continue to lead the world market and is expected to growth with an annual rate of around 5%. The demand for Ethylene Vinyl Acetate is expected to grow by around 5% in the next 5 years. Huge opportunity lies in Silicone as it is expected to grow by more than 9.5% in Asia-Pacific followed by polyurethanes which are expected to grow by more than 9% in Asia-Pacific.
New Opportunities in Adhesives and Sealants Market
A number of new opportunities are coming in this market. Increasing demand in the automotive market has increased focus on Adhesives and Sealants. To suffice this increased demand of Adhesives and Sealants, a number of new investments are being made by the raw materials suppliers. Ashland Inc. has launched new products like flexible adhesives, new pressure-sensitive adhesives and combined balance of tack, peel and shear properties for medical applications. Avery Dennison Corporation has introduced new range of brake adhesive that easily meet electronic parking brake performance challenges. Other key players are also making investments in newer applications of Adhesives & Sealants which has made this market much more exciting.
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