Global Adhesives & Sealants Market

Transcription

1 Global Adhesives & Sealants Market

2 Executive Summary Adhesive is a broad term as it incorporates various materials like cement, glue, mucilage, and paste among others. Adhesives majorly comprise of polymers, which harden either in a physical manner or as a result of a chemical reaction, and are generally classified on the basis of their curing, or bonding, mechanism. On the other hand, sealant is a soft, pliable material that changes state to become solid after application, and is chiefly employed for the prevention of air, noise, dust, fire, smoke, and liquid penetration, where structural strength is not required. Sealants fall between the higher-strength adhesives and extremely low-strength putties and caulks. Adhesives and sealants are categorized on the basis of whether the bonding involves a physical or chemical mechanism. The key factors driving growth of the global adhesives and sealants industry include expanding construction industry, growing transportation sector and increasing demand of green products. The end-use markets for the adhesives and sealants are highly correlated with the global economic conditions and the GDP. The global adhesives and sealants market is likely to be driven by the ameliorating the Asia Pacific markets, skewed trends in the US transportation sector and increasing demand for more environment friendly products. In addition, the growing application of adhesives in the medical applications is expected to bring new opportunities to the market. However, the growth of global adhesives and sealants industry is hindered by the strict regulatory compliance imposed on manufacturers and fluctuating raw material prices. Adhesives and sealants are utilized in several industries including packaging, automotive, electronics, footwear, construction repair and remodeling, textiles, consumer goods, and shipbuilding. Among all the applications, packing, construction industry, durable assembly and transportation sector accounts a major part of adhesives and sealants. The present report offers a comprehensive analysis of the global adhesives and sealants market along with a detailed study of the regional markets including North America, Japan, Asia and Europe. The competition in the respective market is intense with few large players viz. Henkel, H.B. Fuller, Sika and 3M. The competitive landscape along with the company profiles of the leading players in the market is discussed in detail. By combining SPSS Inc. s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

3 US$ Billion E US$ Billion Adhesives and sealants are utilized in several industries including packaging, automotive, electronics, footwear, construction repair and remodeling, textiles, consumer goods and shipbuilding. North American Adhesives Market by Value ( E) One of the largest adhesive markets, North America was worth US$... billion in 2013, compared to US$... billion in the previous year. This represented a y-o-y incline of..%, in contrast with the previous year s..% y-o-y growth. The market showed a CAGR of..% for the period spanning The sealants market in North America has grown by.% in 2013, accounting for US$... billion compared to US$... billion in the prior year. In, the y-o-y growth was.%, and this growth is further projected to recoup in The sealant market is expected to reach US$... billion in 2014, representing.% growth. As of 2013, the largest region for adhesives and sealants was Asia, which constitutes.% of the total market. It was followed by Western Europe and North America, both accounting for.% share each for the aforementioned year. North American Sealants Market by Value ( E) Global Adhesives and Sealants Market by Region (2013) E Asia Eastern Europe South America Western Europe North America Middle East & Africa

4 Tons Adhesives and sealants are categorized on the basis of whether the bonding involves a physical or chemical mechanism. Japan s Adhesives Production Volume ( ) Japan s adhesives production volume has witnessed an incline from tons in to tons in 2013, representing..% increase. The production of adhesives in Japan recorded a CAGR of % for the period spanning The transportation and industrial assembly sectors are most dynamic end markets for adhesive industry in the region. The major claimant of the adhesives and sealants is packaging industry which accounted for.% of the total markets. Other major market includes building and construction, with % share, followed by sealants and woodworking which had % and % respective share. As of 2013, the maximum share in the overall adhesive production was constituted by the formaldehyde-type adhesives with %, followed by water based and pressure sensitive adhesives with % and % share respectively. Adhesive and Sealant Market by End-Market Japan s Adhesives Production Share by Product Type (2013) Packaging Sealants Assembly Consumer Building & Construction Woodworking Transportation Others Formaldehyde-type Adhesives Water-based Adhesives Reactive Adhesives Solvent-type Adhesives Hot-melt Adhesives Pressure Sensitive Adhesives

5 EU-27 Eastern Europe Turkey Middle East Africa Million Tons The key factors driving growth of the global adhesives and sealants industry include expanding construction industry, growing transportation sector and increasing demand of green products. EMEA Adhesives and Sealants Demand by Region () As of, EU-27 is the region with the largest adhesive and sealant demand of million tons in EMEA region. It was followed by Eastern Europe which had the total demand of million tons. The projected growth rate of the region is % for the period from with Turkey being the most dynamic market for adhesives and sealants. China held.% of the total palm oil exports from Malaysia. European Union represented.% share, closely followed by.% share of India. Further, top 8 importers of palm oil from Malaysia collectively accounted of.% of palm oil exports The adhesives and sealants market is quite fragmented. Henkel, the leader of the adhesive industry, held only % of the total market, followed by Sika with % of the global market share in Other companies with notable share in the global adhesive market are RPM, ITW, Bostik, 3M and H.B. Fuller. Malaysia- Export of Palm Oil by Selected Countries (2013) Global Adhesives Market Shares by Company (2013) China EU India Netherlands Pakistan The US Iran Japan Others Henkel Sika RPM ITW Bostik 3M H.B.Fuller Others

6 E 2014E 2015E 2013E 2014F 2015F 2016F 2017F Million Tons US$ Billion The growing application of adhesives in the medical applications is expected to bring new opportunities to the market. Global Adhesives and Sealants Market by Volume ( E) Global Adhesives and Sealants Market (-2017F) In terms of volume, the adhesive and sealants market witnessed a decline of.% in 2013 as a result of scarcity of raw material which affected the whole supply chain of the market. The market accounted for million tons in 2013, as compared to million tons in. However, the market is anticipated to growth by % in 2014 and further.% in 2015, to reach for... million tons. This growth is forecasted on account of improved raw material availability and stabilizing prices. The global adhesives and sealants market is growing at a very fast pace. Factors like increasing spending on construction, growing transportation industry and improving economic condition are driving the market. The global market is anticipated to reach US$... billion by 2017 compared to US$... billion in Global adhesives and sealants market is poised to grow at a CAGR of.% for the period spanning 2013 to The ever-increasing need for high standard performance across all modern applications is driving the growth of adhesive and sealants market. The market of North America & Latin America was estimated to account for. million tons in EMEA and Asia-Pacific & Oceania demand volume was. million tons and.. million tons, respectively. These regions are anticipated to reach respective demand of. million tons,. million tons and. million tons by the end of Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa