Albany, NY -- (SBWIRE) -- 08/17/2018 -- Transparency Market Research has released a new report, detailing the global adhesives and sealants market and profiling the major growth drivers, restraints, and key players in the global market. The report, titled 'Adhesives and Sealants Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018', presents the conclusion of TMR analysts that the global adhesives and sealants market's value will grow at a sturdy 5.7% CAGR from 2012 to 2018. In terms of volume, the market will grow at a slightly tepid CAGR of 4.4% in the same period.
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TMR's analysts describe the growth of the construction and automotive industries all over the world as the major growth driver for the global adhesives and sealants market. "Due to their property of bonding two substances together, adhesives and sealants are naturally used in industries where the integrity of the final product is of paramount importance. As a result, the automotive industry and construction industry present themselves as natural end users of adhesives and sealants," TMR's lead analyst said.The automotive industry is on the rise all over the world, led by China's dominant presence in the global automotive arena, and is thus propelling the adhesives and sealants market by leaps and bounds. China's automotive industry has threatened to eclipse the collective might of all of Europe's established auto industries in recent years and is expected to become the outright leader in the global market very soon. This is a major growth driver expected to shape demand patterns in the global adhesives and sealants market in the coming years.
The construction industry, on the other hand, has resurrected itself handsomely from the rubble post the economic slowdown in the last decade. Growing consumer confidence in the economic stability of the industry and growing affluence of the urban consumers in emerging economies has resulted in strong growth prospects for the global construction industry, directly improving the growth prospects of the global adhesives and sealants market.The growing packaging and furniture industries are also expected to be major contributors to the global adhesives and sealants market, with the furniture industry set to become the leading application of adhesives in the global perspective during the forecast period.Asia Pacific is expected to lead the global adhesives and sealants market in the forecast period, due to the strong growth of the construction and automotive industries in China, India, Japan, South Korea, and other developing Asian countries. The regional market held a share of more than 36% in the global market for adhesives and sealants in 2011 and is expected to be growing at a CAGR in excess of 5% during the forecast period.
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Acrylic adhesives emerged as the largest product segment of the global adhesives market, whereas the sealants market is being led by silicone-based sealants.Major restraints acting upon the global adhesives and sealants market are volatility in raw material prices and environmental standards governing the amount of VOCs that adhesives and sealants can contain.Key adhesives and sealants market players analyzed in the research study include BASF AG, Dow Chemicals, 3M Company, Bostik SA, and Ellsworth Adhesives.