The global adhesives segment was valued at $46 billion and sealants at $9.5 billion by the end of 2017 as per a new report. The two segments of the adhesives and sealants market are expected to register CAGR of 5.1 per cent and 6.1 per cent respectively, during the forecast period 2018 to 2023, according to ResearchAndMarkets.com’s recent report on global adhesives and sealants market.

The usage of adhesives for composites joints has been consistently increasing in numerous applications, such as consumer packaging, aerospace, and automotive. The demand for and usage of composites, owing to their properties (like, reduced weight, improved aesthetics, enhanced environmental resistance, design flexibility, and increased stiffness) has been growing. Therefore, an increase in the composite segment of the market is expected to boost the adhesives and sealants market, the report said.

The recovering construction industry in Europe and growing demand for electric vehicles across the world are expected to offer a number of opportunities to the adhesives and sealants market.

Henkel is one of the leading players in the adhesives and sealants market

The packaging industry generates the highest revenue in the market whereas the transportation industry records the highest CAGR. The demand for adhesives in the packaging industry is growing, with higher end-user applications. Online retail shopping has increased at a higher rate with rising internet technologies and web applications, which has largely supported the growth of the packaging industry. Moreover, the demand for cosmetics and food and beverage products is expected to grow, due to the growing population and demand for quality products, urbanisation, and consumers inclining toward technology, hence increasing the demand for packaging industry; therefore driving the demand for adhesives and sealants market.

In Asia-Pacific adhesives and sealants market, adhesives generated over $26.5 billion and sealants about $5.5 billion, based on revenue, in 2017. Increase in the number of female workers, rise in dual income nuclear families, growth in disposable income, and higher per capita expenditure on social and cultural factors are a few factors fueling up the demand in the Asia-Pacific market. Also, there is a rise in the government funding for public welfare in the region, the report noted.

The construction sector in countries, such as China and India, is growing at a higher rate with urbanisation projects and new construction activities, such as bridges, dams, roads, railways, urban infrastructures, buildings, and others, which, in turn, is propelling the demand for adhesives and sealants market in the region.

LAMINATING ADHESIVES

Adhesives are used for joining and assembling of different materials surfaces. Both dry lamination technique and wet lamination technique are widely used in laminating adhesive. Laminating adhesive has its application in various industrial and domestic uses. It is particularly designed to attach or fix two different surfaces together. The different chemical compositions of laminating adhesives include polyurethanes, polyvinyl acetate, epoxy, styrenic block, and ethylene vinyl acetate. It is widely applicable in minimising weight, vibration-dampening joint and leakage control of fluids or gases.

Based on the different technology, the laminating adhesive the market can be broadly categorised in four different market segments namely; water-borne, solvent-borne, reactive, and hot melt. On the basis of different applications of the laminating adhesive, the market can be segmented as pressure sensitive adhesives, packaging, building and construction, automotive, woodwork and furniture, footwear, and others.

The increasing demand of low volatile organic compound (Voc) and environmentally sustainable adhesives are some of the predominant driver of the global laminating adhesive market. Moreover the major end user market of laminating adhesive such as automobiles construction, woodworking, transportation, footwear, and packaging has witnessed a healthy growth over the last few years which in turn driving the growth of the global laminating adhesive market, said Persistence Market Research in its report Laminating Adhesives Market: Global Industry Analysis and Forecast to 2020. 

Instability in raw material prices of the laminating adhesive coupled with stringent environmental regulations by EPA (environment protection agency) and Reach (registration, evaluation, authorization, and restriction of chemicals) in Europe and North America is acting as challenge for laminating adhesive market in this region.

Asia Pacific is the largest producer and consumer of laminating adhesive, followed by Europe and North America. North American market of laminating adhesive is heading towards maturity and the growth is mainly anticipated from the emerging market of Asia Pacific and Latin America. India and China are the two biggest market of laminating adhesive in Asia Pacific. Brazil is one of the fasted growing market laminating adhesive in Latin America region.

Some of the major companies operating in the global laminating adhesives market include Ashland, BASF, Bostik, Dymax Corporation, Henkel AG & Company, Sika, The Dow Chemical Company and Adco Global.