Global Adhesives and Sealants Market to Register Substantial Expansion by 2025
Adhesives and Sealants Market Outlook – Surging demand in Automobile and Construction Industry Augmenting Market Growth
Asia Pacific is expected to be one the major revenue contributors due to the presence of emerging economies and supportive government policies in the region. For instance, Make in India initiative by Government of India aims to boost the manufacturing of passenger vehicles to 9.4 million in the country, by 2026. Moreover, due to rampant economic growth and rapid urbanization in in India and China, the demand for adhesive and sealants in Asia Pacific, is expected to witness tremendous growth over the forecast period. The growth of the market is also fueled by burgeoning growth experienced in various end-use industries in the region. Demand for modern buildings and commercial complexes with glass exteriors is increasing, in turn driving growth of the global adhesive and sealants market.
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Adhesives and Sealants Market Challenges – Environmental Impact
Adhesive and sealants such as silver epoxy-based Electronic Conductive Adhesive (ECA) release CO2, which incurs adverse environmental impact. Moreover, due to stringent government regulation on release of VOC emission, end-use industries are actively opting for alternative to organic solvents. For instance, SIKA AG introduced a new-generation adhesive SikaBond AT-75 for wood floor bonding, meeting highest EHS regulation. This is expected to be a major challenge for growth of the adhesive and sealants market over the forecast period. Bio-based products such as soybean-derived polyols, vegetable-based polyamides, epoxies, and polyisoprenes are increasingly replacing the use of synthetic materials and additionally reducing carbon footprint. Waterbased formulations contribute to a major share in the adhesive market, whereas silicone-based sealants contribute major share in the sealants market. The market is highly dependent on raw materials such as synthetic fibers, resins, and crude oil, prices of which are highly volatile and hamper growth of the adhesives and sealants market.
Adhesives are substances that possess properties capable of holding materials together in a functional manner that resists separation. Adhesives include cement, glue, paste and mucilage, which are used to hold objects together. Sealants are materials with adhesive properties that are used to seal, fill, waterproof, gaps, and joints between two surfaces. Owing to these properties, sealants are widely used in dental care to fill cavities. Moreover, due to high tensile and shear strength, adhesive are classified into two categories such as structural adhesive and nonstructural adhesives. The chemicals formulation and technology involved in adhesive and sealants are similar. Water-based adhesive and silicon-based sealants are expected to hold a dominant position in the global adhesives and sealants market over the forecast, owing to the significant expected growth in the construction, packaging, and automobiles industries, which widely employ sealants and adhesives
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