Precedence Research, Recently Published Report on "Flow Computers Market Size, Share, Growth, Trends, Segmentation, Regional Outlook and Forecast 2020 - 2027 "
OTTAWA, Dec. 01, 2020 (GLOBE NEWSWIRE) -- The global adhesives and sealants market size was valued at US$ 44.1 billion and US$ 10.4 billion respectively in 2019 and expected to grow at a compound annual growth rate (CAGR) of 6.7% and 6.1% during the forecast period 2020 to 2027.
An adhesive refers to a chemical mixture that is used to join two surfaces together into a single unit, while a sealant refers to a semisolid material used to prevent fluid leakage. Adhesives and sealants are produced using similar technologies and chemicals, and are used in a similar range of applications. Although they are counted as a single industry, their performance is different across end-use applications. Regulatory bodies have set different test methods and specifications for each of them. Adhesives have higher tensile and shear strength that makes the material preferable for bonding and holding-related applications. Besides this, sealants fill gaps as well as resist relative movement of substrates. They have lower strength compared to adhesives, but possess greater flexibility.
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1141
Rising trend of lightweight and low CO2 emitting vehicles supported by strict government regulations for environmental protection considered as the key factor that drives the market growth of adhesives and sealants. Automotive is one of the largest end-use industries of adhesives and sealants. Contribution of adhesives & sealants towards weight reduction of vehicles considered as the key factor that improves the fuel efficiency and limit the vehicle emission. Adhesives proved as a boon for OEMs (Original Equipment Manufacturers) in reducing weight of an automobile and meeting with stringent environmental regulations for CO2 emissions.
However, North America and Europe have strict regulations regarding the production of petro-based and chemical products. Agencies such as the European Commission (EC) and Epoxy Resin Committee (ERC) govern the manufacturing of solvent-based products in these regions. This affects the production capabilities of manufacturers and compels them to focus more towards eco-friendly adhesives for example water-based adhesives.
View Full Report with Complete ToC@ https://www.precedenceresearch.com/adhesives-and-sealants-market
Europe is considered as one of the largest automotive producers across the globe. Supportive government policies aimed to boost the automotive sector by incorporating advanced technologies along with ensuring the safety of passenger as well as environmental protection considered as the key factor that drives the adhesives and sealants market. Some of the policies include “Strategy for automated and connected mobility systems”, “European Battery Alliance”, and “GEAR 2030” predicted to propel regional automotive industry that in turn accelerate the adhesives and sealants market growth.
Besides this, North America emerged as the largest region for sealants market with a value share of around 23%. The growth of the region is mainly attributed to the rising spending in construction sector particularly in the United States. Moreover, easy availability of raw materials in terms of shale gases along with various strategic initiatives adopted by the regional companies that include BASF, 3M, and Avery Denison expected to generate prominent demand over the forecast period.
Get Customization on this Research Report@ https://www.precedenceresearch.com/customization/1141
Based on region, the Asia Pacific adhesives market anticipated to register the highest growth over the forthcoming years and also a front-runner in the sealants market in 2019
Europe considered as a significant market for adhesives because of a hub of large number of automobile manufacturers in the region
In reference to sealants market, North America examined as the largest region with a revenue share of nearly 23% attributed to the increased spending in the construction sector
Water-based technology led the adhesives market accounting for nearly 50% of the volume in the year 2019
Hot melt technology expected to witness a growth rate of approximately 6% over the analysis period because of its excellent properties
Pressure sensitive applications of adhesives captured prominent value share of nearly 30% in 2019 due to prominent demand for automotive interior trim assembly, pressure sensitive tapes, and many other applications
The automotive adhesives predicted to register the highest growth over the forecast period owing to technological advancements that helped to reduce the overall weight of vehicles
High Performance Adhesives Market - The global market was valued at USD 30.5 billion in 2019 and projected to hit over USD 40.5 billion by 2027 with registered a compound annual growth rate (CAGR) of around 6.32% during forecast period 2020 to 2027.
Aerospace Adhesives and Sealants Market - The global market was valued at US$ 1.01 billion in 2019 and expected to reach US$ 1.55 billion by 2027, with at a compound annual growth rate (CAGR) of 5.5% during the forecast period 2020 to 2027.
Hot Melt Adhesives Market - The global market was valued at USD 6.53 Billion in 2019 and expected to reach USD 9.95 billion by 2027, with at a compound annual growth rate (CAGR) of 5.4% during the forecast period 2020 to 2027.
Key Players & Strategies
Global adhesives and sealants market is moderately fragmented with the presence of major market players. These major players in the market occupy over 65% of the total share, thereby leading the market towards consolidation. These market leaders are engaged in capacity expansions, new product launch, partnerships & collaborations, and mergers & acquisitions. For instance, in November 2019, Bostik introduced its new engineering adhesives product range named Born2Bond. This new product range was designed for applications in industries such as electronics, luxury packaging, MRO, automotive, and medical devices. With this launch, the company aimed to expand its product portfolio and increase its profitability.
Some of the key players operating in the market are H.B. Fuller Company, 3M Company, Avery Dennison Corporation, Dow Chemical Company, Bostik SA, BASF AG, Uniseal Inc, ND Industries Inc., Beardow & Adams Adhesives Inc., Ashland Inc., Momentive Specialty Chemicals Inc., Eastman Chemical Company, and Sika AG among others.
By Adhesives Product
By Adhesives Technology
Reactive & Other
By Adhesives Application
Pressure Sensitive Applications
By Sealants Product
Polyvinyl Acetate [PVA]
By Sealants Application
Pressure Sensitive Tapes
By Regional Outlook
Rest of the World
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1141
You can place an order or ask any questions, please feel free to contact at email@example.com | +1 774 402 6168
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us: