Global Adhesives and Sealants Market Expands with Newfound Applications

February 05, 2019

WELLESLEY, Mass., Feb. 05, 2019 – The global market for adhesives and sealants is driven by the emergence of new market applications and growth in the industrial sector and housing market, among additional factors, according to BCC Research.

The global adhesives and sealants market was valued at $63.7 billion in 2018 and is expected to reach $81.8 billion by 2023 at a compound annual growth rate (CAGR) of 5.1% during the forecast period, according to the report “Global Markets for Adhesives & Sealants/Joining and Fastening.”

Prominent players in the market include: 3M (MMM), Dow Chemical Company (DWDP), Henkel AG (HELKF), American Biltrite Inc. (ABLT), Arkema S.A. (ARKAY), Dymax Corp., Emseal Joint Systems Ltd., Kraton Corp. (KRA), LORD Corp. and Parson Adhesives Inc., among many others.

Research Highlights:

• Out of the applications for adhesives and sealants, construction continues to be a major market as housing growth spreads throughout the world, especially in developing countries.
• There are many distinct applications for sealants in the construction industry, as they are often used for perimeters of wall and roof openings, filling cracks, sealing tub and shower stalls, among other applications.
• Within the regional markets for adhesives, the greatest growth in adhesive usage is expected to occur in the Asia-Pacific (APAC) region – led by China – followed by Europe and North America.

“Adhesive bonding technology is gaining importance in industrial production,” analyst Srinivasa Rajaram said. “New construction methods are possible with the possibility of combining different materials with adhesive bonding. In addition to their pure bonding function, adhesives can also be used to impart other functions to the jointed product such as vibration dampening, sealant protection and corrosion protection.”

Medical Applications for Adhesives and Sealants on the Rise

The use of high-performance adhesives and sealants in medical applications is growing at an impressive rate – particularly in surgical settings. Cyanoacrylate adhesives are used for both internal and external applications, and solvent-free adhesives are increasingly being used in special textile, industrial, foam and fabric laminations.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Global Markets for Adhesives & Sealants/Joining and Fastening( CHM048C )
Publish Date: Jan 2019    

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