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.
“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.
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Global Markets for Adhesives & Sealants/Joining and Fastening( CHM048C )
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