Global Adhesives and Sealants Market to Reach US$31.64 Billion Owing to High Demand from Asia Pacific: Transparency Market Research
By Business Wire News
By Business Wire News
A recent report published by Transparency Market Research forecasts a moderate 5.7% CAGR for the global adhesives and sealants market from 2012 to 2018. The report, titled “Adhesives and Sealants Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018”, projects the sealants and adhesives market to reach an estimated value of US$31.64 billion by the end of 2018. The market was worth US$22.70 billion in 2012. Sealant consumption, globally, will reach 2,208.2 kilotons by 2020, up from 1,700.5 kilotons in 2012, as per the report.
The report has identified expansion of end-use industries such as automotive, construction, and packaging as a major factor fuelling the sealants and adhesives market around the world. However, environmental issues, which are creating ripples worldwide, might impede the growth of the market by pulling industries away from using adhesive and sealants that are derived from petroleum, choosing more eco-friendly biobased alternatives instead.
Among the key geographic segments, Asia Pacific will provide lucrative propositions to the sealants and adhesives market. The region accounted for 40% of the overall market in 2012, and according to the report, it will remain undisputed as the market leader over the forecast period as well. The adhesives and sealants market in Asia Pacific will develop at an impressive 5.2% CAGR between 2012 and 2018, according to the report.
A segment-wise evaluation of the market based on product type reveals high demand for acrylic-based adhesives, which led the market in 2012 with a 35.4% share. The market for acrylic sealants is likely to expand at a 5.0% CAGR, according to the study. In terms of application, the demand for adhesives and sealants in furniture will accelerate at a 5.9% CAGR.
Browse All TMR’s Press Releases: http://www.transparencymarketresearch.com/press-releases.htm
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.