Northbrook, IL -- (SBWire) -- 06/04/2018 --Technological advancements are expected to fuel the demand for adhesives & sealants in mature markets, such as North America and Europe. Properties such as less cure time, increased performance benefits such as high-performing seals, better adhesion to a variety of substrates, and resistance to chemicals, and various innovations in adhesive and sealant products are expected to drive the growth of the market in near future. The adhesives market is shifting from traditional solvent-based adhesives to high-performance products such as reactive hot-melts and pressure-sensitive hot-melt adhesives, driven by the requirement of superior performance.
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Based on application, the paper & packaging application is projected to lead the adhesives & sealants market during the forecast period
Paper & packaging was the largest application segment of the adhesives & sealants market in 2015. Increasing demand for consumer goods in several countries across the globe is a key factor expected to fuel the growth of the segment in the coming years. In the packaging application, adhesives and sealants are extensively used in the production of cases and cartons. Other applications include building & construction, woodworking, transportation, consumer, and leather & footwear, among others.
Based on formulation technology, the water-based adhesives segment is expected to lead the adhesives market during the forecast period
Water-based was the largest formulation technology segment of the adhesives & sealants market in 2015, in terms of value and volume. Water-based is the most broadly-used technology in the formulation of adhesives. Water-based adhesives possess unique characteristics, such as UV, humidity, and discoloration resistance. Almost all water-based adhesives are resin emulsions, specifically poly (vinyl acetate) emulsion, and are a stable suspension of poly (vinyl acetate) particles in water.
Asia-Pacific is expected to lead the adhesives & sealants market during the forecast period
Asia-Pacific is expected to be the largest segment of the market during the forecast period. Growing population and increased demand from applications, such as paper & packaging and construction are expected to fuel the growth of the Asia-Pacific adhesives & sealants market. Countries such as China, Japan, and India are expected to be major markets for adhesives & sealants in Asia-Pacific. China is estimated to be the largest market in terms of consumption.
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Key companies operational in the market include Henkel AG & Company (Germany), 3M Company (U.S.), Bostik Ltd. (France), H.B. Fuller (Netherlands), Illinois Tool Works Inc. (U.S.), Avery Dennison (U.S.), Sika AG (Switzerland), Franklin International (U.S.), RPM International Inc. (U.S.), and Royal Adhesives & Sealants, LLC (U.S.).
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Adhesives & Sealants Market to Exceed 63.50 Billion USD by 2021
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