Global Adhesives and Sealants Market to Benefit from Growing Construction Industry in Developing Countries
Adhesives and sealants have been in use since ancient times, but at present these items have become essential in vital industries such as construction, automotive, and packaging, among many others. In the modern world, global adhesives and sealants market are prepared from chemicals. At present, there is increasing focus on bio-based adhesives and sealants due to measures taken by governments to minimize damage done to the environment.
Construction Industry to Account for Maximum Demand from Adhesives and Sealants Market
Adhesives bind two items together and can be made from natural or manmade synthetic sources. Sealants are used to prevent leakage and create a barrier. Sealants differ from adhesives in terms of lower strength and higher elasticity and are highly useful for sealing assemblies and joints. Adhesives can be neoprene or starch-based and are used in several industries.
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Classification of adhesives is based on their chemical composition, such as polyamides, polyurethane, and epoxy. Different adhesives have different physical properties and are available in a variety of forms such as tapes, pellets, liquid, and pastes. Pressure-sensitive and structural adhesives are among the types of adhesives available in the market.
Sealants are flexible and help provide protection from various substances such as air and water, and are also available in various forms. Polyurethane, acrylic, and silicone sealants are among the types of sealants in the market. Sealants are usually corrosion-resistant, insoluble in many solvents, and adhesive, though not to the extent of adhesive products.
The main application areas of adhesives and sealants are construction, automobiles, and packaging. Construction has increased in BRIC countries and will result in the growth in sealants market, though environment-conservation measures and resultant regulations against the use of chemical-based products can check the predicted market growth for sealants. The outcome of this factor will be a shift towards bio-based adhesives and sealants. The construction industry accounted for 27% of total sealants use in 2011 and the packaging and automotive industries accounted for a collective 34%.
Asia Pacific to Dominate Global Adhesives and Sealants Market
The global adhesives and sealants market is divided into the geographical segments of North America, Europe, Asia Pacific, and Rest of the World. According to latest market research from a leading U.S.-based market research company, Asia Pacific led the global market, with a 35% share in 2011. This was due to growing construction activities in particularly China, and also India, South Korea, Indonesia, etc. Europe and North America were next, with a combined 54% share of the market in 2011. Sealants are proving to be a rapidly growing market in Asia Pacific, with growth expected at a CAGR of 5% from 2012 to 2108. The growing construction industry also played a major role in this, since sealants are vital components of any construction.
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Sealants are used all over the world and silicone and polyurethane sealants accounted for 58% of the market share in 2011. The increased demand for silicone-based sealants is based on new product developments in the automobile and packaging industries. Silicone-based sealants are set to grow at a CAGR of 5.3% from 2012 to 2018.
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