Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Adhesive and Sealants Market (Adhesive and Sealants Market (Adhesive Technology: Water Based, Solvent Based, Hot Melt, Reactive & Other; Adhesive Product: Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy, Eva, Other; Adhesive Application: Pressure sensitive applications, Packaging, Construction, Furniture, Footwear, Automotive, and Other; Sealants Product: Silicones, Polyurethanes, Acrylic, Polyvinyl Acetate, Other) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”, forecasts that the global adhesive and sealants market is expected to grow at a CAGR of around 5% from 2018 to 2026 and reach the market value of over $83 billion by 2026. The major factors driving the overall adhesives & sealants market are the rising demand for packaging material and automobile production. As the automotive industry is using adhesive & sealants products as alternatives for welding activities of engine parts assembly which results to increase in fuel efficiency and reduce vehicle weight. Additionally, infrastructure activities showcase a strong growth which is likely to drive the growth of adhesives & sealants market. Furthermore, rapid growth in population and urbanization in developing countries combined with rebounding construction activities in developed markets of Europe and the U.S. is fuelling the demand for adhesives & sealants products. As solvent-based adhesives have the tendency to react with nitrogen oxides present in the atmosphere to form ozone, which poses a health threat by causing respiratory problems is anticipated to hamper the market growth. The factor acts as an opportunity for market growth includes the increasing popularity of environment-friendly adhesives over traditional solvent-based.
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Application Segment Paper Board & Packaging Accounts One Of The Largest Market Share For Adhesive And Sealant Market
Adhesives are widely used in a variety of paper bonding applications ranging from corrugated box construction and the lamination of printed sheets to packaging material used for all types of consumers products to the production of large industrial tubes and cores used by manufacturers of roll goods and other materials. They can be usually found in the products used by consumers every day such as paper towels, bathroom tissue, and books. Near about each and every product of all industries is sold in packaging-either due to stability requirements for storage and transport or for decorative purpose. Essential requirements on overprinted packaging materials, in particular, the various types of packaging equipment used for foods, are their strength, constancy to heat and impermeability to moisture, oxygen, and aromas. These properties along with preferred appearance can usually only be obtained by combining different materials.
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The growing consumption of acrylic adhesives in pressure sensitive, packaging, construction, automotive, furniture and others are the factors due to which Asia-Pacific holds a major share in 2017. The pressure sensitive segment holds a major portion and is likely to continue its dominance in the market due to a rise in demand for adhesives & sealants from the end-user industries during the forecast period. Therefore, countries such as Japan, China, and India are the major players in the market. Furthermore, the North America region is growing extensively due to increased consumption of water-proof sealants in furniture, packaging, and others. In this region, it is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period. Increasing adoption of high-temperature adhesives in automotive and pressure sensitive segments has fuelled market growth in various countries such as the U.S., Canada, and Mexico to achieve a stunning growth in the market as they provide excellent flexibility and chemical resistance to the product. The Latin American region is likely to witness a recognized development in the market owing to the rising consumption of composites and increasing awareness of eco-friendly products in the industry. Moreover, the Middle East & Africa is increasing demand for silicone sealants in the end-use industries which are likely to witness higher growth in the market.
Some of the key players operating in the global adhesive and solvents market, profiled in the report include BASF SE, 3M Company, The Dow Chemical Company, Ashland Inc., Ashland Inc., Avery Denison Corporation, Arkema, Beardow & Adams Limited, Eastman Chemical Company, Ellsworth Adhesives, H.B Fuller Company, Henkel AG & Co., Momentive Specialty Chemical Industries, N.D. Industries Inc., Sika AG, Uniseal Inc. and among others.
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