The Hybrid Adhesives & Sealants Market is expected to drive the market as the production of automotive components has increased in recent years. Increasing demand from End-Use Industries including automotive & transportation, industrial, others are expected to drive the growth of the market.
Adhesives & Sealants are substances used to block the passage of fluids through the surface or joints or openings in materials. Hybrid adhesives and sealants are chemically hardening adhesives that are also known as polymer adhesives. They have the combined properties of two or more different adhesives. Hybrid adhesives & sealants offer permanent flexibility and tidiness for users. They are widely used for waterproofing, wall covering, civil operations, insulation, roofing, tiling, facade, parquet, flooring and so on. Hybrid adhesives & sealants are mostly used in construction activities such as renovation, bonding, maintenance and repair of both residential & commercial buildings due to its properties such as good adhesion, mechanical endurance, and resistance to temperature fluctuations.
The global hybrid adhesives & sealants market is segmented on the basis of resin type and application. On the basis of resin type, this market is classified into MS polymer, epoxy-cyanoacrylate, epoxy-polyurethane. Epoxy-cyanoacrylate resin is expected high demand because it is very useful for bonding to various substrates such as metal, composite, plastic, rubber, and others in less time. By application, this market is classified into building & construction, automotive & transportation, industrial assembly and other. This market is anticipated to boom in the automobile sector due to the wide use of hybrid adhesives & sealants in floor sealing, chassis sealing, body sealing, external & internal sealing, and windscreen bonding. The global hybrid adhesives & sealants market is expected to grow in the Asia Pacific region due to the growing automotive industry and increasing infrastructure development.
Key Factors Impacting Market Growth:
- Increasing production of automotive components
- Growth of the construction sector
- Unavailability of new polymeric materials
On the basis of the region, the hybrid adhesives & sealants market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe are some of the major markets that are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing a number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regard to environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.
The Asia Pacific and the Middle East are expected to register substantial growth in the hybrid adhesives & sealants market during the forecast period. This demand is with regard to the growth of major end-use industries/Applications such as automotive & transportation, industrial, others. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for the hybrid adhesives & sealants market. There has been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the hybrid adhesives & sealants market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.
Companies Covered: Soudal, Sika AG, Bostik, Wacker Chemie AG, 3M Company, H.B. Fuller, Kisling AG, and TREMCO ILLBRUCK