Adhesives & Sealants/Joining and Fastening
The global market for adhesives and sealants by product type was valued at $39.1 billion in 2009. This market is expected to reach $40.8 billion in 2010 and $52.1 billion in 2015, a compound annual growth rate (CAGR) of 5%.
Medical applications are expected to exhibit faster growth than other applications. This segment was worth an estimated $1 billion in 2010 and is expected to reach nearly 1.3 billion in 2015, a compound annual growth rate (CAGR) of 5.1%.
The construction segment will grow at a 4.9% compound annual growth rate (CAGR) over the 5-year forecast period. This segment was worth $4.8 billion in 2010 and is expected to reach a value of $6.2 billion in 2015.
Adhesives are substances capable of holding materials together in a useful manner by surface attachment. The principal attribute of adhesives is their ability to form strong bonds with the surfaces of a wide range of materials and to retain bond strength under expected use conditions. Most adhesives do not have excellent bulk properties; therefore, it is important to keep adhesive films thin. Some materials, such as epoxies, have bulk properties that qualify them as engineering materials and thus can be used in multifunctional applications. Adhesive is a general term and includes among others cement, glue, mucilage, and paste. All of these terms are loosely used interchangeably.
- Ability to bond similar to dissimilar materials of different thickness
- Enable the fabrication of complex shapes not feasible by other fastening means
- Smooth external joint surfaces
- Permit economic and rapid assembly
- Distribute stresses uniformly cover joined interfaces
- Provide weight reduction in critical structures via the elimination of fasteners
- Dampen vibrations
- Prevent or reduce galvanic corrosion
- Provide thermal and electrical insulation
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The global market for adhesives and sealants increased from $35.6 billion in 2006 to an estimated $36.9 billion in 2007. It should reach $46.4 billion by 2012, a compound annual growth rate (CAGR) of 4.7%.
The Far East represents the highest growth region. China, South Korea, Taiwan and Vietnam especially are expected to see significant growth.
Products expected to see the most growth include electronics adhesives for printed wiring boards, hot melt systems and automotive applications.