September 20, 2019

Adhesives and Sealants Market projected to cross $66.8 Billion by 2022

Adhesives and Sealants Market

The Global adhesives and sealants market is likely to register $66,876 million by 2022, with increasing at a CAGR of 3.7% during the study period, 2016-2022, as per the report published by Allied Market Research.

Driving the market are various factors such as their benefits such as high shear and tensile strength, increased use of adhesives in products such as vehicles, aircraft, and a rise in glass building constructions globally.

Adhesives and sealants have become a part of our daily lives. If we look around us, we find that most of the things are made up adhesives and sealants, for instance, our computer screens, our cellphones, our footwear, our vehicles, the bed we sleep on, or the shelf in our room. The difference between adhesives and sealants is not very clear.

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The demand from footwear and medical applications is increasing at the higher CAGRs of 5.6% and 4.8%, respectively, during the forecast period. This is due to reasons such as, increasing global footwear production, especially in China & other emerging countries, and growing Adhesives usage in several medical areas, such as implant, tissue bonding, dental and wound closure.

Adhesives are substances meant to join materials together via surface attachment. Most sealants are adhesives; however, their main function is to fill a space to form a seal and prevent gas or fluid from escaping from an assembly or prevent the entry of atmospheric components into the unit.

Today, the adhesives and sealants industry is a billion dollar industry that serves numerous other industries such as petrochemical, aerospace, manufacturing, packaging, building and construction, automotive, woodworking and joinery, leather and footwear, and more.

The adhesives and sealants industry underwent a rapid change over the past few years due to a number of acquisitions and launches taking place in the space. Several industry giants have been acquiring smaller and regional manufacturers to establish a market position. H.B. Fuller, an adhesive manufacturing company, recently announced the launch of a set of new adhesive solutions at Ligna 2019 in Hannover with the intent of catering to the surge in demand for materials that help minimize harmful emissions in their finished goods. Parker Hannifin Corp., a company specializing in motion and control technologies, entered into an agreement to acquire LORD Corp., a technology and manufacturing company that offers adhesives, coatings. Graco Supply Company, a company that distributes chemicals, specialty materials, and more to the aerospace and defense industries announced its acquisition of E.V. Roberts, a distributor, manufacturer, and custom packager of adhesives, sealants, and more for several industries.

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H.B. Fuller Reveals New Adhesives

The new adhesive solutions unveiled by H B Fuller are Rakoll 4933, a formaldehyde-free, water-based adhesive; Rakoll 5010, a low monomer emission reactive hot melt adhesive; and a range of NEP-free primers for edge-banding applications. Said to play a powerful role in business performance, the innovative products cater to customers’ demand for products that reduce hazardous emissions, lower cost-in-use, increased efficiency, and improved production output.

Parker Hannifin Corp. Acquires LORD Corp.

Parker Hannifin recently agreed to purchase LORD Corp. for around $3.675 billion in cash. The acquisition is said to fortify the former’s offering of products in aerospace and defense, automotive, and industrial markets as well as enhance opportunities to take advantage of emerging electrification and light weighting trends.

Graco Supply Company Buys E.V. Roberts

The acquisition of E.V. Roberts by Graco Supply Company is expected to create a solutions-oriented distribution company that provides access to a wide range of products in more regions and custom value-added services to support the growing demands of its customer and supplier partners. Ron Cloud, President and CEO of E.V. Roberts, said, “I had the opportunity to lead E.V. Roberts through nearly 25 years of double-digit growth and evolution. In this period, I have never witnessed a more complementary union of products, services, and most importantly, people necessary to drive growth and effect positive change for our industry. Graco Supply Company and E.V. Roberts are the perfect blend of dedicated focus, nimbleness, and technical expertise, and it’s only up from here.”..

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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