Middle East, GCC and North Africa Adhesive and Sealants Market to Grow at a CAGR of 6.20% During the Forecast Period
High demand for
adhesives & sealants from building & construction industry is driving
the growth in Middle East, GCC and North Africa Adhesive and Sealants market in
the forecast period.
According to TechSci Research
report, “Middle East, GCC and North Africa Adhesive and Sealants Market – By Country, Competition Forecast
and Opportunities, 2017-2030” The Middle East, GCC and North Africa Adhesive and Sealants
market stood at USD808.49 million in 2021 and is expected to grow at a steady
CAGR of 6.20% during the forecast period on account of growing high-tech
building and automotive sector which require the use of adhesive and sealants
and the growing
demand for adhesive and sealants for packaging & paper related products.
The market is categorized based on resins type such as Polyurethane Adhesives, Vinyl
Adhesives, Silicone & Modified Silicone Adhesive and Sealants, Polysulfide
Sealants, Epoxy Adhesives, Polyurethane Sealants, Acrylic
Adhesives & Sealants and
others, which is expected to support the market growth through 2030. The demand for glue and
sealant products in the Middle East, GCC and North Africa was affected by the
COVID-19 outbreak. According to a government assessment, the demand for
non-hazardous and long-lasting adhesives is growing. REACH (Regulation on the
Evaluation, Authorization, and Restriction of Chemicals), LEED (Leadership in
Energy and Environmental Design), and other regional regulatory bodies have
compelled adhesive and sealant manufacturers to create eco-friendly products
with zero or low volatile organic compounds (VOCs). Manufacturers have
benefited greatly from the shift toward more environmentally friendly products.
Various
Technology Advancement and innovations in the sector of adhesive and sealants
to enhance the growth yield is also one of the reasons to boost up the market
of Middle East, GCC and North Africa Adhesive and Sealants.
However, several strategies
such as product launches and approvals, marketing and promotional activities,
acquisitions, increased R&D investment, supply and demand chain and product
publicity need to be improved as these factors are expected to hamper the
market growth during the forecast period.
Browse over 107 market
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Sealants Market"
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The Middle East, GCC and
North Africa Adhesive and Sealants market is segmented based on resin type, by
technology, by end use industry, by sales channel, by company and regional
distribution. In
terms of Resin Type, the market can be split into Polyurethane Adhesives, Vinyl Adhesives, Silicone
& Modified Silicone Adhesive
and Sealants, Polysulfide Sealants, Epoxy
Adhesives, Polyurethane Sealants, Acrylic
Adhesives & Sealants and Others. Polyurethane Adhesives
dominate the market, and these adhesives are multi-purpose compounds that may
be used to join a wide range of construction
materials, including wood, glass, concrete, metals, carpets, and more. Because polyurethane bonding is waterproof, they're a
good alternative for outdoor work. Polyurethane
construction adhesives come in a variety of strengths and are available in a
variety of sizes. Yellow glue, for example, is less robust than epoxies and
PVAs. While lower-cost polyurethane adhesives may not make as strong
connections, high-performance polyurethane adhesives, such as Loctite's PL
Premium, are as strong as or even stronger than other typical construction
adhesives. In
terms of Technology, the market can be categorized into Solvent Based, Water
Based, Reactive, Hot Melt and Others. Solvent Based segment dominates the market in 2021 with a share
of 29.58% as the food packaging business relies on solvent-based adhesives,
particularly for laminating and coating procedures. This involves using a
solvent-based heat seal layer to keep packaging closed even when exposed to
external variables. The Market is also categorized based on End Use Industry
such as Furniture, Building & Construction, Packaging & Paper
Related Products, Automotive, DIY, Defense, Aerospace and Others. Furniture
dominates the market in 2021 with a share of 24.89% as the furniture business uses a
lot of adhesives to speed up the manufacturing process and ensure the end
items' safety and appropriateness. Fabrics, foams, wood, metals, and plastics
are all bonded with furniture adhesives. Based on Sales Channel, the market is
categorized into BCB and B2C. B2B dominates the segment as many of the
companies get their business orders through BCB. B2B consumers are less likely
than B2C customers to buy just one or two modest things.
Key market players in the Middle
East, GCC and North Africa Adhesive and Sealants market include:
·
Sika
AG
·
Henkel
AG & Co. KGaA
·
H.B.
Fuller Company
·
Dow
Corning
·
Pidilite
Industries Ltd.
·
Soudal
NV
·
Bostik
SA
·
Ashwa
Technologies Co. Ltd.
·
Razi
Chemicals Co
·
Jowat
Corporation
Middle East, GCC and North
Africa Adhesive and Sealants Market includes a lot of well-established players
having presence in several countries along with several domestic players
holding prominent positions in certain regions and countries, among others. Henkel
holds the highest market share and is among the top five market players in the Middle
East, GCC and North Africa. The company has a strong presence worldwide and a
huge brand value.
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“The need for a wide range of
electrical and electronic devices such as tablets, smartphones, laptops, and
others has risen due to technological breakthroughs and R&D efforts, where
adhesives and sealants are frequently employed for bonding diverse components.
This is one of the primary drivers of the adhesives and sealants market's
expansion. Furthermore, rising population, urbanization, and government
investment have led to a significant expansion in the building and construction
sector, where adhesives and sealants are frequently employed to repair gaps,
holes, and seal joints. As a result, adhesives and sealants have become more
popular in the building and construction industry, driving the adhesives and
sealants market's growth,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Middle East, GCC and
North Africa Adhesives and Sealants Market, By Resin Type (Polyurethane
Adhesives, Vinyl Adhesives, Acrylic Adhesives and Sealants, Rubber Based
Adhesives, Epoxy Adhesives, Silicon, Polyurethane, Polysulfide, Others), By Technology (Adhesives) (Reactive, Hot Melt, Solvent Based, Water
Based), By End Use Industry (Furniture, Construction,
Packaging & Paper Related Products, Transportation, DIY, Building &
Construction, Automotive & Others), By Sales Channel (B2B, B2C and Others), By Country, Competition,
Forecast & Opportunities, 2017-2030F, has evaluated the future
growth potential of Middle East, GCC and North Africa Adhesive and Sealants Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Middle East, GCC and North Africa Adhesive and Sealants market.
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