Asia-Pacific adhesives and sealants market is expected to grow at a CAGR of more than 5% during the forecast period. The demand for adhesives and sealants is extensively driven by the growing demand from construction industry and increasing application in packaging industry. However, the growth is likely to be hindered by the stringent VOC emissions regulations related to adhesives and sealants.
- In the studied market, water-borne dominates the adhesive technology segment. While silicone stands to be the largest segment among sealant product types.
- The innovation and development of bio-based adhesives and shifting focus toward adhesive bonding for composite materials are likely to offer opportunities for the adhesives and sealants market.
- China stands to be the largest market for adhesive and sealants in the region, where the consumption is driven by the end-user industries, such as automotive, construction, electronics and packaging.
Key Market Trends
Paper, Board, and Packaging Segment to Dominate the Market Demand
- Paper, board, and packaging segment stands to be the largest end-user industry for adhesives and sealants market in the region.
- Its applications include composite containers, tubes, bags, carton side seam and closures, cups, labels, specialty envelopes, foil laminates, films, disposables (non-woven), and corrugated boards.
- An extremely high proportion of industrial products are sold in packages, either due to stability requirements for storage and transport, or for aesthetic reasons. Most packaging materials presently used are different materials laminated together, which require the use of adhesives.
- One of the key factors that has been accelerating the growth of the segment includes growing e-commerce platform and increasing consumption with rise in income levels of the masses.
- Therefore, with extensive application in paper, board and packaging industry and increased demand for packaging materials especially due to growing e-commerce industry, the consumption of adhesives and sealants in this segment is expected to increase further in the region over the forecast period.
China to Dominate the Market
- China dominates the consumption of adhesives and sealants in the region. Growing construction activities, increasing consumption in packaging industry and electronics production to support demand in international market are some of the key factors driving the consumption of adhesives and sealants market in the country.
- China holds the largest packaging industry in the region. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment, like microwave food, snack foods, and frozen foods, etc.
- The construction sector has been recording a healthy growth in the country, owing to significant increase in government investment on large-scale infrastructure projects in order to ensure steady growth of the economy.
- Moreover, owing to the growing air traffic, the government has planned to increase the number of airports to around 450 by 2035, which indicates about 91% increase over the current number of airports in the country. In this regards, there are numerous airport construction projects, which are either in development or planning stage in the country.
- Hence, all such trends in the end-user industries are expected to drive the growth of adhesives and sealants market in the country over the forecast period.
Asia-Pacific adhesives and sealants market is a consolidated market with many healthy competitions in the market. The major companies are 3M, Arkema Group, Sika AG, H.B. Fuller, and Henkel AG & Co. KGaA, amongst others.
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1.1 Study Assumptions
1.2 Scope of the Report
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Construction Activities in Asia-Pacific
4.1.2 Growing Demand from the Packaging Industry
4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Adhesive Technology
5.1.1 Water Borne
18.104.22.168 Ethylene Vinyl Acetate (EVA) Emulsion
22.214.171.124 Polyurethane Dispersion and CR (Chloroprene Rubber) Latex
126.96.36.199 Polyvinyl Acetate (PVA) Emulsion
188.8.131.52 Other Water-borne Adhesives
184.108.40.206 Styrene-Butadiene Rubber (SBR)
220.127.116.11 Styrene-Butadiene Rubber (SBR)
18.104.22.168 Poly Acrylate (PA)
22.214.171.124 Other Solvent-borne Adhesives
126.96.36.199 Modified Acrylic
188.8.131.52 Other Reactive Adhesives
5.1.4 Hot Melt
184.108.40.206 Ethylene Vinyl Acetate
220.127.116.11 Styrenic Block Copolymers
18.104.22.168 Thermoplastic Polyurethane
22.214.171.124 Other Hot Melt Adhesives
5.1.5 Other Technologies
5.2 Sealant Product Type
5.2.4 Polyvinyl Acetate
5.2.5 Other Sealant Product Types
5.3 End-user Industry
5.3.1 Building and Construction
5.3.2 Paper, Board, and Packaging
5.3.4 Woodworking and Joinery
5.3.5 Footwear and Leather
5.3.7 Electrical and Electronics
5.3.8 Other End-user Industries
5.4.4 South Korea
5.4.8 Australia and New Zealand
5.4.9 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Arkema Group
6.4.4 Avery Dennison Corporation
6.4.5 Beardow Adams
6.4.8 Dymax Corporation
6.4.9 Franklin International
6.4.10 H.B. Fuller
6.4.11 Henkel AG & Co. KGaA
6.4.12 Huntsman International LLC
6.4.13 ITW Performance Polymers (Illinois Tool Works Inc.)
6.4.14 Jowat AG
6.4.15 Mapei Inc.
6.4.16 Tesa SE (A Beiersdorf Company)
6.4.17 Pidilite Industries Ltd.
6.4.18 Sika AG
6.4.19 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Innovation and Development of Bio-based Adhesives
7.2 Shifting Focus Toward Adhesive Bonding for Composite Materials
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.