There is a shift in the manufacturing processes in the aircraft and automotive industry as heavy materials are replaced by plastics, leading to a growth in the adhesive market. The switch from traditional materials to plastics helps in the reduction of vibration damping and weight, and improves the surface appearance, which further boosts the growth of specialty adhesives. Styrene butadiene rubber adhesives and latex sealants are the fastest growing types of adhesives and sealants. Adhesives and sealants are widely used in industrial and commercial applications.
There was a decline in the global growth rate of adhesives and sealants during the economic slowdown of 2008-2009, but the market witnessed a gradual increase from 2010 in terms of volume and value of sales. The key end-use industries are automotive, electronics, packaging, footwear, and construction. Some of the end-use industries which are driving the adhesive and sealant market are packaging, construction, and transportation. About 80% of market share is dominated by adhesives and the remaining by sealants in terms of volume, value of sales, and product innovation.
Some of the key driving forces for specialty adhesives and sealants market are product differentiation and new applications. Product differentiation can be done by focusing on technology, environmental improvement, quality, flexible formulations and so on. Medical adhesives and sealants is a new application area which holds potential for growth in the industry. Due to environmental regulations, traditional adhesives are being replaced by new VOC compliant adhesives, green adhesives, and sealants, increasing their demand in major end-use sectors.
The critical success factor in this industry is considered to be product innovation according to the changing requirements of consumers, affecting the cost effectiveness in their operations. Other driving forces for the industry are user-friendliness of adhesives and sealants over pressure sensitive tapes, innovation in the technology of assembling and disassembling components which helps in repair and serviceability of components.
Some of the market players in the adhesive and sealant industry are BASF, Dow Chemicals, Henkel, Bayer, H. B. Fuller, Acucote Inc., Ashland, Inc., Beardow Adams (Adhesives) Ltd., Creative Materials Inc., and Franklin International Inc. among others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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