“The use of adhesive goods amounted to around 3 million tons, producing revenues at the factory stage of around $7.6 billion”, says Visiongain report
10 September 2019
Visiongain’s new report the Hybrid Adhesives & Sealants Market Report 2019-2029: Forecasts by Resin (MS Polymer Hybrid, Epoxy-Polyurethane, Epoxy-Cyanoacrylate, Others), by Application (Building & Construction, Automotive & Transportation, Industrial Assembly, Others), by Region and Analysis of Leading Companies Operating in This Industry.
Since the creation of synthetic polymers almost 100 years ago, adhesives and sealants have had a major effect on the construction industry. The use of adhesives and sealants proliferated quickly with the advent in the 1960s to the 1980s of a much broader spectrum of high-performance base materials and formulations. Today, adhesives and sealants are important elements of most building systems and structures, a trend which will likely accelerate as the industry adopts innovative construction techniques and designs.
Within the construction & construction industry, the use of adhesive goods amounted to around 3 million tons, producing revenues at the factory stage of around $7.6 billion. The construction & manufacturing industry accounts for about 28–30% of all use of adhesives & sealants. Sealants use is predicted to expand from 1.15 million tons ($2.8 billion) in 2017 to 1.49 million tons ($3.7 billion) in 2023 in the construction & construction industry. According to Visiongain’s estimation, more than 40 percent of sealants used globally are consumed by the construction & construction industry.
Ongoing and developing trends in four areas will drive gradual changes in adhesive and sealant usage patterns and may present long-term opportunities for adhesives and sealants suppliers. These areas are, Construction costs and efficiency, adhesives and sealants product development, Demographics, and Regulatory climate.
Global automotive manufacturing from 2013 to 2018 has also seen an increase of more than 2.0 percent. The growing population, technological upgrading, and rising expenditure all contribute to the automotive industry's development. The worldwide market for hybrid adhesives & sealants is motivated primarily by growing demand for lightweight cars, as the materials make a significant contribution to vehicle weight decrease. Global manufacturing of lightweight cars is anticipated to grow at a CAGR of 2% in the coming years.
As regards quantity, Asia Pacific was the biggest national segment in 2019 with more than 45 percent market share and is likely to dominate the market over the expected era. The infrastructural developments, increasing automotive production, and growth in manufacturing industry are all contributing to the demand in Asia Pacific.
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