Target Audience of Adhesives and Sealants Market: Manufacturer / Potential Investors, Traders, Distributors, Wholesalers, Retailers, Importers and Exporters, Association and government bodies.
Adhesives and Sealants Market Report provides key statistics on the market status of the Adhesives and Sealants Key-players/Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Industry
The Middle East & Africa adhesives and sealants market is expected to register a CAGR of 5.11% (in terms of value) and 4.39% (in terms of volume) during the forecast period, 2018 to 2023. Saudi Arabia accounted for the largest market, holding almost 29% of the global market share in 2017.
Accelerating Demand from Automotive Industry
Unlike traditional manufacturing methods, adhesives offer the advantage of flexibility during the production process of automotive components. In addition, they also aid in reducing the processing and set up time, as they can be applied easily and at a relatively high speed. Furthermore, it has been observed that during new car assessment programs and crash tests, vehicles bonded with adhesives perform better, compared to welded vehicles, as they do not affect the substrate used in the automobile assembly. Moreover, the recent advancements in the adhesives technologies are aiding automobile manufacturers in the production of lightweight and fuel efficient vehicles. In Africa, automotive production increased by 7.9% in 2016 from 2015. Such positive growth is expected to drive the market through the forecast period.
Silicone Sealants – one of the fastest growing segment
Silicones are versatile polymers. These are designed to provide permanent and temporary bonding to the surfaces, such as glass, metal and stone. The nature of bonding depends on the application for which it is used. These sealants effectively work under harsh environments of temperature range, abrasion and climatic change. Hence, they are water, chemical and temperature resistant, flexible, and they deliver outstanding performance. Furthermore, these sealants are transparent, permeable to gas and water vapor, and they provide thermal and electrical conductivity.
Silicone sealants are used in numerous applications owing to the excellent properties that they offer. The major end-user industries for these sealants are electronics & electrical, automotive, aerospace, and building & construction. The usage is increasing in countries such as UAE, Jordon, and Kuwait etc., owing to the rising construction and infrastructure projects in these countries. Additionally, sale of electronic products are also increasing, in turn augmenting the usage of silicone in the region.
Saudi Arabia is the Largest Consumer
The government’s 10th development plan has supported investments in sectors such as healthcare, housing projects, construction & maintenance in the oil & gas sector and so on. The population of the country is also increasing at a good rate, which has also increased the demand for houses in the country. These growth plans are expected to grow at a faster rate during the forecast period, which is also expected to drive the market for adhesives and sealants. The electronics market in Saudi Arabia slowed down in the recent past, but has good market potential owing to rising population and demand for electronic goods such as smartphones, LED & LCD TVs, tablets, electrical machines & equipment, and washing machines. Moreover, the packaging industry in Saudi Arabia is the key driver for the market of adhesives and sealants. They have multiple applications in the packaging sector such as sealing, bonding, and labeling. The food packaging market is growing with increasing population and accelerating demand for hygienic products. The growth of these industries is expected to increase during the forecast period, which in turn will propel the adhesives and sealants market in the country.
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Major companies covered in this Report:
- 3M CO.
- SIKA AG
- ALFA INTERNATIONAL CORPORATION
- ARKEMA GROUP (BOSTIK SA)
- HUNTSMAN CORP.
- H.B. FULLER CO.
- HENKEL AG & CO. KGAA; LORD CORP.
- MAPEI SPA
- PIDILITE INDUSTRIES LTD.
- CYBERBOND LLC
- VOELKEL INDUSTRIAL PRODUCTS LLC
- DUBAI ADHESIVE MATERIAL FACTORY LLC
- TAWAZON CHEMICAL COMPANY LLC
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This Adhesives and Sealants market report offers an overview of the market trends, drivers, and barriers with respect to the market. A detailed analysis of key players, along with key growth strategies adopted by them is also covered in this report on Adhesives and Sealants market.