Joining of various components has been an integral part of modern industry sectors such as electrical and automotive. Classic methods of joining such as screwing, welding, and riveting have been replaced with modern bonding systems such as adhesives and sealants. Various types of adhesive systems are available in the market. These range from solvent-borne systems or solvent-free reactive systems to aqueous dispersion adhesive products. Different types of adhesives are employed in these systems to impart characteristics during their production. Various types of additives are available for adhesives and sealants. These include defoamers, wetting agents, pigments, fillers, dispersing agents, rheology additives, and surface additives. Additives impart specific characteristics and are generally used in various combination and concentration for the production of different types of adhesives and sealants. Wetting and dispersing agents help in dispersion of pigments and fillers. Furthermore, they help achieve higher filling level by decreasing viscosity, and prevent sedimentation. Rheology additives are added to systematically adjust the thixotropic or pseudoplastic behavior of the end product.
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Based on technology, the market for adhesives and sealant additives can be segmented into reactive technology, solvent-based technology, hot-melt technology and water-based technology. Based on end-user industry, the market for adhesive and sealant additives can be segregated into building & construction, automotive, paper & packaging, furniture, leather & footwear, and others. The adhesive and sealant additives market is anticipated to witness strong growth during the forecast period owing to the increasing demand from various end-user industries. Sealants are known to offer high elongation and lower strength than adhesives. This makes them useful in sealing applications of joints and assemblies. Increase in construction activities, especially in BRIC countries, is projected to provide ample growth opportunities to sealant additives during the forecast period. In terms of technology, the water-based segment held significant share of the market in 2016. This trend is expected to continue during the forecast period. The water-based segment was followed by the solvent-based and hot-melt in 2016. In terms of end-use industry, the building & construction accounted for major share of the market in 2016. It is likely to continue its dominance during the forecast period. Increase in population and growth in dispensable income among middle-class are the key factors propelling the construction industry in developing economies. Thus, growth in the building & construction sector is anticipated to provide lucrative opportunities for adhesive and sealants markets. This, in turn, is projected boost the market for adhesive and sealant additives. Development of bio-based adhesives and sealants can hamper the market during the forecast period
Geographically, Asia Pacific held significant share of the market in 2016. The market in the region is anticipated to witness significant growth during the forecast period. China accounted for dominating share of the adhesive and sealant additives market in Asia Pacific in 2016. This growth can be ascribed to the expansion in automotive, building & construction, and other industries in the country. The adhesives and sealant additives market in Asia Pacific is expected to expand at a moderate pace in other applications including paper & packaging, furniture, and leather & footwear. The market in Asia Pacific was closely followed by that in North America and Europe in 2016. Together, North America and Europe constituted significant share of the adhesive and sealant additives market in 2016.
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Key players operating in the adhesive and sealant additives market include ALTANA, IMCD, Cabot Corporation, and 3M.