Market Research Future (MRFR) studied the global hybrid adhesive and sealant market 2021 for the analysis period till 2023. As per MRFR findings, the market of hybrid adhesive and sealant can rise at 5.9% CAGR over the review period. By 2023, the hybrid adhesive and sealant market value can touch a considerable amount.
Drivers and Restraints Impacting Hybrid Adhesive & Sealant Market
The worldwide hybrid adhesive and sealant market can thrive in the years ahead. Hybrid adhesive and sealants are the superior class of sealants and adhesives and exhibiting high-performance characteristics, unlike their parent components. These are manufactured via hybrid technology and combining two or more different polymeric materials to produce a new product that has superior properties, such as; excellent resistance, better strength, and high thermal expansion. Their flexibility and better performance compared to conventional sealants and adhesives, hybrid adhesives, and sealants are applied largely in construction industries. For example, epoxy-polyurethane adhesives are utilized in the finishing coating on furniture to prevent cracking. Moreover, these find a variety of applications in other end-use industries, such as; marine, automotive & aerospace, and military & defense among others owing to the excellent tear resistance and high mechanical strength.
The market of global adhesive and sealant is expected to be driven by upscaling demand for hybrid adhesives and sealants by end-consumer industries, such as; automobile and construction that is largely attributed to the growing application of eco-friendly and high endurance adhesives and sealants in construction. For example, by fusing urethane sealants, a hybrid sealant, and silicone; a low VOC content material is produced that offer a variety of benefits, such as; lower shrinkage, moisture color stability, and tolerance. Thus, provide exceptional adhesion to construction materials.
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The rise in the utility of high-performance adhesives over conventional polyurethane adhesives in the global marine industry for applications, such as; deck fitting and hull fastening, driving the demand for hybrid sealants and adhesives, can favor global market. Furthermore, the rise in the utility of hybrid sealants and adhesives over a wide range of applications and several innovative advancements can create lucrative opportunities for key players in the overall hybrid adhesive and sealant market.
On the contrary, limited awareness among consumers can hamper the rise of the hybrid adhesives and sealants market. In addition, the easy availability of traditional substitutes, such as; polyurethane, can pose a challenge to market players.
Segment Study of Hybrid Adhesive and Sealant Market
The global hybrid adhesive & sealant market’s segmented evaluation is done by end-use industry, and product.
The product-based segments of the global hybrid adhesive & sealant market are MS polymer, epoxy-polyurethane, epoxy-polysulfide, and epoxy-cyanoacrylate among others.
The end-use industry-based segments of the global market of hybrid adhesive & sealant market are automotive, building & construction, aerospace, marine, and military & defense, among others.
Regional Analysis of Hybrid Adhesive and Sealant Market
Asia Pacific can dominate the global hybrid adhesive and sealant market and register a healthy CAGR through the forecast tenure due to industrial expansion and rise in constructional activities. The increase in the utility of hybrid sealants and adhesives over silylated polymers in the construction of window frames, acoustic ceiling panels, installation of prefinished panels, decorative films, and ceramic tiles, on the account of their better mechanical properties and high resistance to UV radiation; can support regional market.
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In North America, a substantial market share by 2023 is likely. The increasing demand for sealants and adhesives with superior performance due to increase in residential renovation activities across the US can boost the demand for hybrid adhesives & sealants, thus favor market expansion.
In Europe, the market is expected to showcase a decent growth across the forecast term owing to the utility of hybrid adhesives and sealants in the production of automotive body side moldings and interiors among others. Germany is the top contributor on the account of presence of several automobile producers in EU. Further, the surge in environmental concerns and ongoing innovations can propel the demand for hybrid sealants and adhesives in the region, thus support market rise, suggest MRFR regional study insights.
Key Players of Hybrid Adhesive and Sealant Market
Henkel AG & Co. KGaA (Germany), BASF SE (Germany), Soudal Inc. (Belgium), Evonik Industries AG(Germany), Den Barven (The Netherlands), 3M (US), H.B.Fuller (US), Sika AG (Switzerland), Bostik S.A. (France), Wacker Chemie AG (Germany), Kisling AG (Switzerland), and TREMCO ILLBRUCK (Germany) are key players in the worldwide global hybrid adhesive and sealant market that are profiled by MRFR.
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