Adhesives are substances that possess properties capable of holding materials together in a functional manner that resists separation. Adhesives include cement, glue, paste and mucilage, which are used to hold objects together. Sealants are materials with adhesive properties that are used to seal, fill, waterproof, gaps, and joints between two surfaces. Owing to these properties, sealants are widely used in dental care to fill cavities. Moreover, due to high tensile and shear strength, adhesive are classified into two categories such as structural adhesive and nonstructural adhesives.
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Adhesives and Sealants Market Outlook – Surging demand in Automobile and Construction Industry Augmenting Market Growth
Asia Pacific is expected to be one the major revenue contributors due to the presence of emerging economies and supportive government policies in the region. For instance, Make in India initiative by Government of India aims to boost the manufacturing of passenger vehicles to 9.4 million in the country, by 2026. Moreover, due to rampant economic growth and rapid urbanization in in India and China, the demand for adhesive and sealants in Asia Pacific, is expected to witness tremendous growth over the forecast period.
Adhesives and Sealants Market Challenges – Environmental Impact
Adhesive and sealants such as silver epoxy-based Electronic Conductive Adhesive (ECA) release CO2, which incurs adverse environmental impact. Moreover, due to stringent government regulation on release of VOC emission, end-use industries are actively opting for alternative to organic solvents. For instance, SIKA AG introduced a new-generation adhesive SikaBond AT-75 for wood floor bonding, meeting highest EHS regulation. This is expected to be a major challenge for growth of the adhesive and sealants market over the forecast period.
Some of the key companies leading the market are 3M, The Dow Chemicals Company, Henkel AG & Co. KGaA, Avery Dennison, Royal Adhesives & Sealants LLC, Ashland Inc., Akzo Nobel NV, Arkema SA, BASF SE, Bemis Company Incorporated, Berry Plastics Corporation, RPM International, DuPont, and Evans Adhesive Corporation Limited, among others. Manufacturers are working closely with OEMs and R&D centers of major automotive players, to bridge the demand gap and offer tailored- products.
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