(PharmaNewsWire.Com, June 03, 2020 ) The report "COVID-19 Impact on Adhesives & Sealants Market by Resin Type (Emulsion, Polyurethane, Epoxy, EVA, Silicone), Application (Paper & Packaging, Building & Construction, Woodworking, Medical & Hygiene, Automotive & Transportation) - Global Forecast to 2021", The global adhesives & sealants market size is estimated to grow from USD 63.5 billion in 2019 and projected to reach USD 66.8 billion by 2021, at a CAGR of 2.6%. Factors that drive the growth of the adhesives & sealants industry include the increasing demand for medical infrastructures & hygiene products propelled by COVID-19.
Based on the application, the medical & hygiene segment of the adhesives & sealants market is expected to grow at the highest CAGR during the forecast period.
Based on the application, the medical & hygiene segment is projected to register the highest CAGR between 2020 and 2021. A new market opportunity is opening up in medical & hygiene products such as PPE, medical supplies, masks, ventilators, filtration devices, personal hygiene products, paper products, and we expect it to sustain even after the COVID-19 pandemic is over.
Emulsion-based adhesives & sealants to remain the largest market segment during the forecast period.
Emulsion-based adhesives & sealants accounts for more than one-third of the global adhesives & sealants and will remain the largest segment during the forecast period. It is most widely used in paper & packaging, medical & hygiene, and construction applications. More than two-third of paper & packaging products are produced with emulsion-based adhesives, globally. Therefore, the increasing demand for packaging products from FMCG, e-commerce, and healthcare industry is expected to drive the emulsion adhesives & sealants segment.
Browse in-depth TOC on "COVID-19 Impact on Adhesives & Sealants Market” 71 - Market Data Tables 14 - Figures 101 - Pages
The APAC adhesives & sealants market is projected to grow at the highest CAGR during the forecast period.
The adhesives & sealants industry in the APAC region is expected to grow at the highest CAGR during the forecast period, owing to their increasing demand from the rapidly growing manufacturing sector in emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. China is leading the market for adhesives & sealants in the APAC region. Continuous growth in infrastructure and increase in production of packaging products, medical devises, & PPE are driving the adhesives & sealants industry.
Major players in the adhesives & sealants market include Henkel (Germany), H.B. Fuller (US), Sika (Switzerland), Arkema (France), Huntsman Corporation (US), 3M Company (US), Illinois Tool Works Inc. (US), Avery Dennison Corporation (US), DowDuPont Inc. (US), and Wacker Chemie Ag (Germany).
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