Adhesives and sealants market size analysis is set to exceed USD 50 billion by 2023: Global Market Insights, Inc.
Adhesives and sealants market is projected to surpass USD 40 billion and USD 9.5 billion from 2015 to 2023, respectively. Global Market Insights Inc. has published a new study based report on Adhesives and Sealants industry. The report talks about the market in terms of definition, classification, estimations in terms of value and volume. It features the current and future forecasts as per the parallel industrial and financial outlook. Furthermore, it covers current events and trends of leading global companies including important developments, mergers and acquisitions, partnerships and agreements, investments and expansions, etc. It also discusses about the key aspects like drivers, impediments, opportunities and challenges that influence the market.
The need of higher performance characteristics has lead the adhesives market gradually to shift from the conventional solvent based adhesives towards the application of superior -performance products including pressure sensitive and reactive hot melts adhesives. This gradual and steady shift in segment is furthering the overall demand growth of hot melt adhesives. Waterborne adhesive market size is estimated to dominate the technology segment in adhesives and sealants market during the forecast period.
Growth in automobile production, infrastructure development is likely to have a positive impact on the demand growth. Growing use of polymer and plastic in light weight automobiles to improve efficiency is anticipated to impel market size, with expected growth of 4.9% and 5.9% during the expected timeframe.
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The report also covers the in-depth analysis of the industry segmented on the basis of key regions. Advent of technology focused on sustainable and smart products is driving demand for sealants in various regions including Europe and North America attributed to various innovations including reduced cure time, superior performance benefits including resistance to gas and chemicals, improved seals, superior adhesion to a range of substrates, etc. Escalation in construction expenses in Indonesia, China and India is poised to boost demand. European silicone sealants market demand is forecast to observe a substantial growth in next few years.
The key participants in the adhesives and sealants industry are analyzed thoroughly in the report. It features competitive scenario of the industry with company profiles, trends, business strategies, financial metrics, etc. top players include Dow Chemical, Henkel, 3M, and HB Fuller. Sika AG, Avery Dennison, Ashland, Eastman Chemical, Uniseal, Bostik, and N.D Industries are a few other important players in the industry.