Adhesives and Sealants Market to Grow at a CAGR of 4.72% from 2015-20: MarketsandMarkets
The Report “Adhesives & Sealants Market by Technology (Water, Solvent, Hot-Melt, Reactive & Others) by Chemistry (PAE, PVA, VAE, EVA, SBS, Synthetic Rubber, Polyamide, Polyurethane, Epoxy, Cyanoacrylate, & Others) & by Application - Global Forecast to 2020”, report analyzes the global adhesives & sealants market with respect to market drivers, restraints, opportunities, and challenges in different regions.
Driven by the requirement of superior performance characteristics, the adhesives market is slowly shifting from the traditional solvent based adhesives towards the use of high-performance products such as reactive hot melts and pressure sensitive hot melt adhesives. This slow but certain shift in portfolio is fuelling the overall growth of hot melt adhesives.
The adhesives & sealants demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, investments & expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The global market value of the adhesives & sealants was estimated to be about $45.36 Billion in 2014 and is projected to reach $59.75 Billion by 2020, growing at a CAGR of 4.72% between 2015 and 2020. Technological advancements are fueling demand for sealants in the mature North American and European markets. Less cure time, increased performance benefits such as high-performing seals, better adhesion to a variety of substrates, resistance to chemicals and gas, coupled with a host of other innovations are reviving the market. There has also been significant consolidation via merger and acquisition of participants at all levels of the value chain. With millions of surgical procedures taking place annually, the market for wound closure products and techniques is expected to grow significantly. It is driven by an increase in the aging world population, which creates increased demand for all types of surgical intervention, particularly cardiovascular, orthopedic, urological, and dermatological procedures. The emerging generation of wound closure products and technologies consists of green as well as synthetic sealants; energy-based wound closure methods are well-positioned to capitalize on this growth, owing to their ability to seal wounds quickly with little or no clinical follow-up.
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