Demand for Adhesives and Sealants Driven by Developing Markets
A recent report by Global Industry Analysts, Inc. has forecasted that growth for adhesives and sealants will be driven by developing markets in the coming years. Countries such as China, Vietnam, South Korea, Taiwan, and India represent key areas for demand growth in the future.
Developed markets such as Japan, Europe, and the US remain major markets, with Europe currently the largest regional market worldwide. The report forecasts a Compound Annual Growth Rate of 4.4% in the Asia Pacific region.
According to Adhesives Magazine, demand for acrylic adhesives is one of the fastest growing segments around the world. Manufacturers are also interested in developing environmentally friendly products such as adhesives that are free from solvents and based on vegetable oils, soy, water and organic starch.
Polyurethane adhesives based on microbial and fermentation technology are becoming more popular, while vegetable oils as an alternative to petroleum-based substances are already being used in polyamides.
Other green trends include better recycling and safe waste disposal, greater demand for high-performance adhesives for medical, dental and surgical applications, and growing demanding from the renewable energy sector for adhesives in the manufacture of solar panels.
Other drivers for demand growth may come from the miniaturisation trend in electronics, particularly in system-on-chip, anti-vibration shock mounting of circuit boards and the improvement of the conductivity properties of conductive adhesives.