Did you know that the adhesives and sealants markets is expected to increase by 5.7% by the end of 2017, and the momentum is showing no signs of slowing down?
Technological advances in the manufacture of consumer and industrial products is a significant driver in the demand for sealants and adhesives. Developments in the construction industry are also helping growth.
Demand for products with less cure time increased performance benefits such as high-performing seals, better adhesion to a greater variety of substrates and chemical resistance are all expected to drive growth in the market as processes and products lean more on technology. The adhesives market is also moving from traditional solvent-based adhesives such as reactive hot-melts and pressure-sensitive hot-melt varieties, driven by industry demand for higher-performance offerings.
Economic growth among developing nations, growth in urbanization (condo/apartment starts) and an increase in global construction spending (including infrastructure development) and higher demand for products the provide thermal and noise insulation benefits will continue to play an important role in the development of new sealants and adhesives products as well.
Technology is Driving New Sealants and Adhesives Applications
The automotive industry has seen significant growth in the past few years, thanks in part to the deployment of new materials and lightweighting technologies. These developments are being driven by a focus on fuel efficiency to less a vehicle’s impact on the environment. In many cases, metals are being replaced by more advanced materials, including carbon fiber, to produce new, lighter vehicle components, and replacing traditional processes, such as welding, in some instances.
Advances in high-tech building materials are a driving force behind growth in the sealants and adhesives market. Single-family housing has doubled since the recession, while nonresidential construction starts have grown by 6%. Given that most people are now using sealants and adhesives in construction, the demand has increased overwhelmingly due to the various development activities.
Adhesives are used in various ways in the packaging industry. These include laminating printed sheets, binding, folding boxes and bottle labeling. Global packaging sales are expected to increase by 4% by 2018, a key driver in the demand for more advanced sealant and adhesive products.
Population Growth is Encouraging More Construction Starts
Population growth is arguably the single largest driver behind growth in the sealant and adhesives markets. As the population grows, demand for housing and infrastructure development (and means of transportation) follows. This is good news for manufacturers and construction professionals, who will benefit not only from demand for their finished products but also from technology advances in the products available from their suppliers. Technology advances in the sealants and adhesives markets will help industries, such as automotive, lower the cost of their vehicles by incorporating new, lighter-weight materials that lower fuel costs for the consumer.
In the construction sector, more emphasis on thermal insulation that provides energy efficiency benefits will also boost demand for environmentally-sensitive products using more advanced, higher performing sealants and adhesives.
The growth of the sealants and adhesives market is being driven by technological advances, influenced significantly by pressures for industry to become more environmentally friendly and the use of new lighter-weight materials. Demand for higher-tech finished products will force sealants and adhesives producers to push the limits of innovation, and continue to deliver products that provide customers with added performance benefits. And the momentum isn’t showing any signs of slowing down.