The global adhesives and sealants market is primarily driven by increasing demand for acrylic and EVA products from construction and automotive industry, says this report.
Selbyville, Delaware, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Adhesives and Sealants Market size was estimated at $43.7 billion and $10.3 billion in 2020 and is slated to surpass $64.7 billion and $15 billion by 2027, registering a CAGR of 5% and 5.5% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Global polyurethane adhesives from footwear applications should surpass the CAGR of 5% by 2027. Polyurethanes offer low viscosity, solidity and less time to cure pertaining to its well-suited application in footwear production which are made of fabric, leather, plastic, and rubber. Consumer inclination towards modern lifestyle along with growing social media influence for wearable products represents ample growth opportunities for the adhesives and sealants market.
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Silicone sealants are also known as glass cement are used as coupling agents, plasticizers, fillers, and catalysts pertaining to their application in building constructions. In 2019, the sealants market by silicone product type was estimated to be over 700-kilo tons. The silicone sealants solidify at room temperature in combination to water to provide hardness and block the passage of water, air, and dust. In combination with water the silicone sealants form elastic silicone rubber, which is widely used for its application in footwear, sportswear, and cooking and baking food storage products.
The consumer application segment was estimated to be over USD 600 million in 2020. Sealants are widely used for plumbing, carpeting and water blocking applications by consumers. The increasing number of constructions, modification,s and other repair work in households should propel the sealants market growth. Rising consumer inclination for modernized interior and exterior designing of houses has led to increased construction activities. Acrylic sealants are widely used by the consumers for more reliability and bond strength which should drive the adhesive and sealants market growth.
Water-based adhesives should grow at a CAGR of over 5.5% by 2027 owing to increased application of the product in packaging, graphic art, and woodworking. On the other hand, polyvinyl acetate sealants applications should surpass CAGR of 5.5% pertaining to its application for surface blocking in bricks, metals, concrete, and ceramics
North America sealant market should register over 6.4% gains by 2027 on account of the rising construction sector in the region. The product has surface applications in ceramics, flooring, and cement in the construction industry. The rapid increase in residential construction in Canada region should facilitate the product market growth. Increasing investments and planning for infrastructure up-gradation which should stimulate the adhesives and sealants market share in the region.
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Global adhesives and sealants industry is fragmented and with presence of regional players as well as multinational corporations. Some of the key manufacturers include Huntsman Corporation, DowDuPont, Sika , 3M Company, Avery Dennison Corporation, PPG Industries , HB Fuller, Arkema , RPM International Inc., and Lord Corporation. Key strategies observed in the industry include mergers, acquisitions, technical collaborations, and production capacity expansions.
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