Structural Sealants Market – Overview
Changing lifestyle, dynamic economic development of emerging countries, increasing purchasing power of middle-income strata have led to the surging construction activities around the world. In addition to this, rapid industrialization and urbanization fuelling the demand for commercial vehicles and aircrafts year on year. Asia Pacific held major share of the market in 2016 on account of the presence of leading end users such as building & construction industries and automotive. One of the prominent market factors and trends identified in the Global Structural Sealant Market include, rising demand for light weight parts in marine & aerospace sector. Furthermore, growing demand for light weight vehicles in automotive industry is likely favour growth of the market. As per the industry experts, this trend may continue in the coming years on the backdrop of rising concerns over natural resource. Increasing research & development activities along with growing focus on technological innovations expected to boost the growth of this market over the review period. However, release of volatile organic compounds (VOCs) and hazardous air pollutants might hinder the market growth over the forecast period.
Major Key Players:
BASF SE (Germany), Asian Paints Limited (India), Pidilite Industries Limited (India), Roberlo (Spain), AKEMI (Germany), Chemence (UK), H.B. Fuller (U.S.), Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Henkel Ltd., Hemel Hempstead (UK), PPG Industries, Inc. (U.S.), 3M (U.S.), and LORD Corporation.(U.S.), and others are some of the prominent players operating at the forefront of competition in the Global Structural Sealants Market and are profiled in MRFR Analysis.
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Structural sealants Market- Competitive Landscape
Global Structural Sealants is a mature market driven by flourishing growth in construction and automotive industry, along with the flourishing transportation sector. BASF SE, Asian Paints Limited, H.B. Fuller, Henkel Ltd., Pidilite Industries Limited are the leading players operating in this market. Majority of the key market participants are investing in the expansion of their production capacities to strengthen their market position. After addressing dynamic growth in automotive industry, and construction industry experts have asserts that this market will be having increasing penetration of new players to enjoy the profitability of this market. Taking into account these trends, the Global Structural Sealants Market is likely to witness considerable competition over the forecast period of 2017-2023.
Industry/ Innovation/ Related News:
February 2017- India based paints & coatings company, Asian Paints Limited has acquired Causeway Paints Lanka (Pvt). Ltd based in Sri Lanka. Asian Paint limited, the subsidiary of Berger International Pvt. Ltd is going to complete the acquisition as Asian Paints already operates as Asian Paints (Lanka) Ltd. This deal is expected to increase their sales in decorative and refinish paints for automotive and industrial clients.
September 2017- H. B. Fuller Company, the U.S. based major adhesive manufacturing company, announced that they had signed agreement to purchase Royal Adhesives & Sealants. The company plans to expand its presence in North America, Europe and China. This acquisition is also going to add new technology and capabilities for profitable growth.
March 2017- The U.S based leading adhesive manufacturing company H.B. Fuller has opened a new business office and R&D facility at India manufacturing facility. The company already runs 24,000 tons of manufacturing capacity in India. This will help the company to launch new innovative products to suit the local climate and expand its business in Asia-Pacific region.
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May 2017- A German chemical and consumer goods company Henkel has signed an agreement to acquire Sonderhoff Holding GmbH based in Cologne, Germany. The company offers high-impact sealing solutions for industrial assembly. The company offers high impact sealing solutions for industrial assembly such as lightning systems, Filtration solution or appliances. With this acquisition of the privately owned company, Henkel will further enhance its sealants competence.
March 2017- Henkel, a Germany based specialty chemical company, has entered into an exclusive negotiation with GCP Applied Technologies to acquire global Darex Packaging Technologies business. Darex Packaging technologies is into developing innovative, high performance sealants and coatings.
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