APAC to Dominate the Global Adhesive and Sealants Market | Technavio

LONDON–(BUSINESS WIRE)–#Additives–The global
adhesive and sealants market is expected to grow at a CAGR of above
5% from 2017-2021, according to a new market research report by
Technavio.

Global adhesive and sealants market segmentation by application and
geography

Technavio’s report on the global
adhesive and sealants market analyses the business dimensions and
presents a comprehensive breakdown in terms of market segmentation by
application which includes building and construction, paper and
packaging, transportation, leather and footwear, and furniture. As
projected in 2016, approximately 34% of the market share originated from
the building and construction segment. The growing demand for
construction activities in APAC is expected to foster the demand for
adhesives and sealants market.

Based on geography, the global adhesive and sealants market has been
segmented into APAC, the Americas and EMEA. As of 2016, APAC has a
market share of approximately 38%. The major factors that are
contributing towards growth in APAC are the growing population and
increase in middle-class income. The increasing demand for building and
construction in this region is expected propel the market growth.

“Various application such as construction, packaging, and
transportation are driving the demand for adhesives and sealants. In
APAC, countries such as India, China, Japan, Thailand, Indonesia, and
Philippines are expected to create demand for the market,” says
Hitesh Bhatia, a lead analyst at Technavio for additives,
adhesives, and sealants research.

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Adhesive and sealants market: competitive vendor landscape

Due to the presence of a large number of international and regional
vendors, the global
adhesives and sealants market is fragmented. The market is dominated
by vendors such as 3M, Henkel, H.B. Fuller Company, Sika, and The Dow
Chemical Company. The rise in industrialization and urbanization in
developing countries such as India, Brazil, Mexico, Angola, and China
have proved to be beneficial for the local vendors.

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Other topics covered in the report:

Market drivers:

• Growing demand from construction and food packaging applications
• Growing demand from developing countries

Market challenges:

• Volatility in raw material prices
• Lack of awareness of bio-based adhesives and sealants

Market trends:

• Growing use of adhesives in medical devices
• Increasing use of 3D vision in adhesive applications

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adhesive and sealants market report free of cost

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