San Francisco, CA -- (SBWIRE) -- 05/13/2014 -- Asia Pacific adhesives and sealants market is expected to reach USD 18.79 billion by 2020, according to a new study by Grand View Research, Inc. Positive demand outlook from key end use industries including automotive and construction, mainly in China and India, is expected to be a key driving force for the market over the next six years. Tight raw material supply coupled with an unfavorable regulatory scenario for key export markets is expected to inhibit growth over the forecast period.
Water-based dominated the technology landscape and accounted for 46.4% of total market volume in 2013. Along with being the largest technology segment, water-based adhesive is also expected to be the fastest growing technology in Asia Pacific, at an estimated CAGR of 6.8% from 2014 to 2020.
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The report “Asia Pacific Adhesives and Sealants Market Analysis By Technology (Water-Based, Solvent-Based, Hot Melt, Reactive), By Product (Acrylic, PVA, Polyurethane), By Application (Pressure Sensitive Applications, Construction, Automotive) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/asia-pacific-adhesives-and-sealants-market
Further key findings from the study suggest:
- Asia Pacific market for adhesives was 3,824 kilo tons in 2013 and is expected to reach 5,712.8 kilo tons by 2020, growing at a CAGR of 5.9% from 2014 to 2020. Regional sealant demand was 692.6 kilo tons in 2013 and is expected to reach 988.9 kilo tons by 2020, growing at a CAGR of 5.3% from 2014 to 2020.
- Acrylic adhesives emerged as the leading product segment in the regional market and accounted for over 35% of total regional volume in 2013. On the other hand, silicone sealants dominated the regional sealants consumption and accounted for 31.1% of total market volume in 2013. Silicone sealants are also expected to be the fastest growing product segment in the region at an estimated CAGR of 5.8% from 2014 to 2020.
- Pressure sensitive applications emerged as the leading application segment in the region for adhesives and accounted for 30.1% of total market volume in 2013. However, furniture is expected to be the fastest growing application market for adhesives in the region at an estimated CAGR of 7.2% from 2014 to 2020. Construction on the other hand, dominated the regional sealants demand and accounted for over 25% of total market volume in 2013.
- China emerged as the leading market for both adhesives and sealants. China accounted for just over 50% of total regional volume of adhesives consumed in 2013. However, India is expected to be the fastest growing market for adhesives at an estimated CAGR of 6.5% from 2014 to 2020. Japan is a fairly mature market for both adhesives and sealants and is expected to grow at a relatively sluggish rate over the next six years.
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For the purpose of this study, Grand View Research has segmented Asia Pacific adhesives and sealants market on the basis of technology, product, application and region:
Asia Pacific Adhesives Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Hot Melt
- Reactive & Others
Asia Pacific Adhesives Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Styrenic Block
Asia Pacific Adhesives Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Pressure Sensitive Applications
Asia Pacific Sealants Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Polyvinyl Acetate (PVA)
Asia Pacific Sealants Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Pressure Sensitive Tapes
Asia Pacific Adhesives and Sealants Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Rest of Asia Pacific
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