Adhesives are metallic substances that are used to bind to surfaces together. A sealant is nothing but a solid and flexible substance that is used to block the passage of fluids, air, noise, and other such factors. To put it in a much clear context, a stronger version of sealants is categorized as adhesives. Adhesives and sealants have numerous applications across diverse industries.
They are widely used in the automotive and packaging industry. Besides packaging, they are used for other applications furniture, appliances, and footwear. The increasing applications of these products and a subsequent rise in their demand in recent years will have a direct impact on the growth of the industry in the forthcoming years.
The global adhesive and sealants industry will derive growth from the increasing applications across diverse industries. the industry will benefit from the increased investments in product R&D.
The research encompasses several factors that have contributed to the growth of the industry in recent years. Besides growth stimulators, it discusses a few of the factors that have restrained industry growth. The research highlights a few of the leading products, major companies, and major industry developments of recent times.
The competitive landscape in the adhesives and sealants industry has been discussed in detail. Forecast values for the industry have been provided in the research for the period of 2019-2026. Additionally, the research identifies areas that have witnessed the highest demand and applications for the product in recent years.
Growing Mergers and Acquisitions to Provide Impetus to Industry Growth
Among all strategies adopted by major companies in the world, company mergers have been the most widely adopted. An increasing number of major company collaborations have emerged in favour of industry growth. In September 2019, Sika announced the acquisition of Crevo-Hengxin, a company engaged in the manufacture of silicone adhesives and coatings.
With this acquisition, the company plans to expand in China and establish a silicone production footprint. Encouraged by the huge potential held by adhesives and sealants, companies are looking to invest hugely in these products. The research includes major company mergers, similar to Sika’s latest acquisition, and highlights their importance in the global industry.
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High Product Demand in the Asia Pacific to Aid Growth of the Regional Industry
The industry is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Among these regions, the use of adhesives and sealants is the highest in the Asia Pacific. The demand for adhesives and sealants is spread across diverse applications, including building and construction, automotive and transport, and others in emerging countries such as India, China, and Japan. China has emerged as the country that has witnessed the highest consumption and use of adhesive solutions for diverse applications.
