Surging customer inclination towards modern lifestyle and the increasing social media influence for wearable products are expected to open up attractive opportunities for the expansion of the adhesives and sealants market size through the coming years.
According to a recent study by Global Market Insights, Inc., the adhesive and sealant market valuation is anticipated to exceed USD 64.7 billion and USD 15 billion respectively by 2027. The industry is driven by an upsurge in acquisition and merger activities by major market participants.
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For instance, in September 2017, H.B. Fuller Company entered into an agreement for the purchase of Royal Adhesives & Sealants, an prominent adhesives and sealants manufacturer. The consistency of the business in delivering market-leading growth rates, free cash flow, and EBITDA margins are expected to improve H.B. Fuller’s position as an adhesives industry leader at the global level.
How will the North America sealant market fare through 2027?
North America sealant market is expected to record gains of more than 6.4% over the forecast time period. This is due to the expanding construction sector in the region. The product witnesses surface application in flooring, ceramics, and cement in the construction industry.
In addition, the rapid growth of residential construction projects in Canada is also estimated to foster market growth through the ensuing years.
Why will the consumer application segment add a lucrative share to the adhesives and sealants industry size?
The consumer application segment was valued at more than USD 600 million in 2020 and will depict appreciable growth through 2027. Sealants are extensively used by consumers for water blocking, plumbing, and carpeting applications.
The soaring number of modifications, renovations, and other repair work across households is expected to impel the demand for adhesives and sealants through the projected period. Moreover, acrylic sealants are in high demand due to bond strength and more reliability, making them the primary segment drivers.
What factors will propel the expansion of silicone sealants segment in the adhesives and sealants market?
Silicone sealants are deployed as plasticizers, coupling agents, catalysts, and fillers in the construction sector. When combined with water, these sealants solidify at room temperature for providing hardness and blocking the passage of air, dust, and water.
These sealants form elastic silicone rubber upon combining with water. The rubber is utilized for a wide range of applications in sportwear, footwear, baking food storage products, and cooking. This extensive application scope of the product would majorly foster business outlook for the segment.
Which application avenues would make distinguished contributions to the overall adhesives and sealants industry?
Water based adhesives segment is likely to escalate at a remarkable CAGR of more than 5.5% through the analysis timeframe. This growth is on account of the rising product application scope in the areas of wood working, packaging, and graphic art.
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The adhesives and sealants industry from polyvinyl acetate sealants application is expected to depict a substantial CAGR of more than 5.5% through the assessment period. This is accredited to the product’s widescale use for surface blocking in metals, bricks, ceramics, and concrete.
On the whole, the rising demand for acrylic and EVA products from automotive and construction industries will escalate the demand for adhesives and sealants over the forthcoming years.
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