Asia-Pacific Adhesives & Sealants Market Segmented by Application, Industry and Geography Trends and Forecasts (2015-2020) - Reportlinker Review
NEW YORK, Oct. 12, 2015 /PRNewswire/ -- With a CAGR of more than 5% Asia-Pacific is the biggest and the fastest growing region due to the growing demand for adhesives and sealants in India, China, Japan, South Korea, and Australia. Because of its strong, growing middle class, the entire region is a considerable market for products that use adhesives and sealants, including packaging, construction and transportation.
Key end user markets for adhesives and sealants vary from construction to packaging and labeling, woodworking, transportation, footwear, and automotive industry. These major end user industries are growing, which in turn has spurred the growth of adhesives and sealants.
The adhesives and sealants industry includes two chemically similar but functionally different groups of formulated products. Adhesive products are used to create a bond between two different or similar materials while sealants are used to create an impenetrable barrier to gas or moisture. Adhesives and sealants are made from precise blends of resins, synthetic rubber elastomers, and agents or additives used to enhance certain characteristics, depending on the end use. Industries that typically use adhesives and sealants include automotive, construction, consumer products, assembly, packaging and labeling.
The Asia-Pacific Adhesives and sealants market is segmented based on technology (Water based, Solvent based, Reactive and hot melts), by application (Construction, Paper board and related uses, Transportation, Footwear and leather and other uses), by geography (North America, South America, Europe, Asia-Pacific and Rest of the world). The key players are BASF SE, Sika AG, 3M Company and Pidilite Industries.
Drivers:
There is a lot of innovation in this industries with more specialized products being released in the market and the number of industry end users are increasing.
Restraints:
There is rise in the prices of raw materials which is in turn restraining the growth of the market.
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