Adhesive is a chemical mixture, which holds at least two surfaces together to form a single unit. Sealant is a semisolid substance, which is used to fill the space between the two surfaces, thereby providing a barrier or protective coating.
construction adhesives & sealants chemical market is expected to reach $12,844 million by 2023, from $7,131 million in 2016, growing at a CAGR of 8.8% from 2016 to 2023. Adhesives have high shear and tensile strength and are used for holding and bonding applications.
Sealants are used for their ability to fill gaps, and resist relative movement of the substrates. They are more flexible, but have lower strength than adhesives.
Rapid infrastructure development in emerging economies is a key factor that fuels the growth of the adhesives & sealants construction chemical market. In addition, expansion of production facilities in India and China to cater to the surging demands of adhesives & sealants is expected to drive the market growth.
Growth in population in these countries is boosts the demand for housing and commercial infrastructure, which in turn is projected to supplement the market. However, volatility in the prices of raw material and regulatory intervention from the environment bodies & federal agencies are anticipated to hamper the growth of market during the forecast period.
Stringent regulations have promoted R&D activities to develop bio-based adhesives & sealants with reduced carbon footprints, which is expected to provide growth opportunities for key players operating in the market.
The global construction adhesives & sealants chemical market is segmented based on adhesives type, sealant type, application, and geography. On the basis of adhesives type, the market is divided into water-based, solvent-based, hot melt, pressure-sensitive, and others (reactive and formaldehyde adhesives).
Sealants are classified into acrylic, silicone, polyurethane, butyl, and others (polysulfide, latex, and silyl-modified polymers sealants). Applications covered in the study include residential, commercial, infrastructure, and repair structures.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major Players Profiled in this Study are
- BASF SE
- Arkema SA
- Ashland Inc.
- Fosroc International Limited
- Mapie S.p.A.
- Pidilite Industries
- RPM International Inc.
- Sika AG
- The Dow Chemical Company
- W.R. Grace & Company
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