Delaware, April 19, 2016 (GLOBE NEWSWIRE) -- Global Adhesives and Sealants Market size was estimated at 9.8 Million tons and 1.9 Million tons in 2015, as per the latest research report by Global Market Insights, Inc. Construction, automotive and packaging were key revenue generating applications for the industry.
Adhesives and sealants market size analysis is set to exceed USD 50 Billion by 2023. Strong infrastructure development indicators and focus on vehicle weight reduction for better fuel performance will play a key role in demand development.
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Waterborne adhesives market size dominated the technology landscape, with 47% global share 2015. This technology is preferred over solvent borne technology owing to low VoC emissions to curb environmental toxicity.
Hot melt adhesives market size is forecast to gain significantly, with 5.3% CAGR up to 2023. On product basis, acrylic products witnessed most usage, with overall consumption close to 3.6 Million tons in 2015, whereas silicone sealants consumption was over 580 kilo tons.
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Stringent norms by the EPA and REACH to address environment concerns over VoC emissions may challenge industry growth. Strong focus on developing renewable materials as an alternative to fossil fuel products is likely to support growth. Bio adhesive market size already accounts for over 1% of the total demand and could witness sizable gains over the coming seven years.
Key Report Insights Suggest:
Global Market Insights has segmented the adhesives and sealants industry on the basis of application and region:
Adhesives Market Technology Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)
Adhesives Market Product Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)
Adhesives Market Application Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)
Sealants Market Product Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)
Sealants Market Application Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)
Adhesives and Sealants Market Regional Analysis (Volume, Kilo Tons and Revenue, USD Million, 2012 - 2023)
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.