HOME Research Insight New Product Launches was a Major Strategy Adopted by Key Industry Players to Achieve Growth in the Adhesives & Sealants Market

New Product Launches was a Major Strategy Adopted by Key Industry Players to Achieve Growth in the Adhesives & Sealants Market

Asia-Pacific is the largest consumer of adhesives & sealants. Increasing population and technological advancements in the building & construction and transportation industries are expected to fuel the growth of the adhesives and sealants market in Asia-Pacific. China, Japan, and India are the major countries in the Asia-Pacific adhesives & sealants market. China is estimated to be the largest market in terms of consumption of adhesives & sealants.

Adhesives & sealants market: major developments

New product launch: major growth strategy adopted by key players

New product launches was a major strategy adopted by key industry players to achieve growth in the adhesives & sealants market between 2010 and 2016. This strategy accounted for a share of 53% of all growth strategies adopted by key market players. Companies adopted this strategy to provide improved products and develop adhesives & sealants for use across new applications. 3M Company (U.S.), Henkel AG & Company (Germany), Illinois Tool Works Corporation (U.S.), Avery Dennison (U.S.), Sika AG (Switzerland), DAP Products (U.S.), Bostik SA (France), H.B. Fuller (U.S.), and Franklin International (U.S.) are some of the leading market players operational in the market that adopted this strategy between 2010 and 2016.

Besides new product launches, companies adopted the strategy of mergers & acquisitions; investments & expansions; and partnerships, contracts, & agreements to increase their market share. These strategies accounted for shares of 27%, 17%, and 3% respectively, of the total number of growth strategies adopted by the key players in the adhesives & sealants market between 2010 and 2016.

In December 2016, Arkema (France) completed the acquisition of Den Braven, a leader in high performance sealants for insulation and construction in Europe. This acquisition helped Arkema to increase its market share in the global adhesives & sealants market.

In December 2016, Avery Dennison (U.S.) signed an agreement to acquire Hanita Coatings.  Hanita Coatings is an Israel-based manufacturer of pressure-sensitive materials of specialty films. The acquisition is expected to aid the company to expand its product portfolio and leverage Hanita’s strong R&D base.

New product launch:

In May 2016, Henkel AG & Company (Germany) developed a new formulation for its Loctite 518 gasket sealant that cures through light surface contamination, offers superior flexibility and adhesion, and provides enhanced curing on inactive metals without a primer. This strategy helped the company strengthen its product portfolio.

In September 2015, Bostik SA introduced SG1578-164, a moisture-cured, one-component hot-melt urethane adhesive for rigid panel assemblies, garage doors, composite panels, windows and doors, and vehicle load floors in automotive applications. This is expected to help the company to strengthen its position in the adhesives & sealants market.

Related Reports:

Adhesives & Sealants Market by Technology (Water-based, Solvent-based, Hot-Melt, Reactive), Chemistry Type (PAE, PVA, VAE, EVA, SBS, Synthetic Rubber, Polyamide, Polyurethane, Epoxy, Cyanoacrylate), Application, and Region - Global Forecasts to 2021

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