The market for hybrid adhesives & sealants is likely to register a CAGR of 7.43%, during the forecast period (2019

NEW YORK, Sept. 11, 2019 /PRNewswire/ --

Market Overview
The market for hybrid adhesives & sealants is likely to register a CAGR of 7.43%, during the forecast period (2019-2024). One of the major driving factors of the market is the increasing environmental regulations in North America and Europe. However, lack of awareness and high cost of the products is likely to restrain the market.

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- Increasing demand from construction and transportation industries is also likely to boost the market growth.
- Increasing demand for low hazardous and sustainable structural adhesives may provide opportunities for the market growth, in the future.
- Asia-Pacific is likely to witness the highest growth rate, during the forecast period.

Key Market Trends
Building & Construction Industry to Dominate the Market

- Hybrid adhesives and sealants are widely used in the building and construction applications. By end-user industry, the building and construction segment holds the largest share in the market studied. Hybrid adhesives and sealants offer excellent technical properties, easy and clean application, strong dynamic stress absorption, mechanical endurance, excellent adhesion, long-lasting joints, peel strength, resistance to temperature fluctuations, high chemical, UV, and water resistance, low odor and corrosion resistance, good shock and vibration resistance, and strong and secure adhesion with less substrates.
- MS polymer hybrid sealants are used widely in the building and construction sector. Some of their unique features include excellent adhesion to most common substrates, including wood, metals, plastics, and ceramics, and enhanced weather resistance. In fact, MS sealants show great durability, when exposed to extreme climates, with no signs of diminished adhesion, cracks, or discoloration.
- According to a study published by the Institution of Civil Engineers (ICE), the global construction industry is expected to reach a value of USD 8 trillion by 2030, primarily driven by China, India, and the United States.
- The construction industry in the United States continued to expand in 2019, owing to a strong economy and positive market fundamentals of the commercial real estate, along with an increase in the federal and state funding for public works and institutional buildings. Additionally, other factors, such as the Tax Cuts and Jobs Act of 2017 and the rebuilding activities (after being hit by the hurricane) in the southeastern region of the United States, contributed to the increase in activities in the US construction sector.
- The construction sector in Middle East & North Africa is expected to grow at the fastest pace in 2019, as the regional governments are investing in infrastructure projects. The construction industry in the region is expected to register an average growth rate of 7.5% Y-o-Y in 2019.
- The construction industry in the GCC is rapidly increasing, with the United Arab Emirates and Qatar expected to be the bright spots, as they are focusing on mega projects, like Expo 2020 and FIFA World Cup 2022, which may drive the hybrid adhesives and sealants market in the region.
- Hence, owing to the above-mentioned reasons the building & construction industry is likely to dominate the market during the forecast period.

Asia-Pacific to Dominate the Market

- In 2018, Asia-Pacific accounted for the major market share owing to the high demand from countries like China, India, and Japan.
- China recorded over 29 million automobile production in 2017, which declined in 2018, due to the decreasing car sales as a result of the trade dispute with the United States. The production is expected to reach 30 million units by the year 2020, owing to the "Made in China 2025" initiative's support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. "Automobile Mid- and Long-term Development Plan", was released in the April 2017, with an objective to make China a strong automotive power in next ten years.
- China's aircraft and spacecraft industry has depicted significant growth over the years. According to Boeing's market outlook report, China may need 6,810 new aircraft in the next 20 years, at a total value of USD 1.025 trillion, owing to the rising passenger throughput.
- The construction sector in India has been growing rapidly with an increased investment by the government. The Indian government's 'Housing for All by 2022' is also a major game changer for the industry. A cumulative total of USD 24.67 billion as foreign direct investment was made for the construction activities (including townships, built-up infrastructure, and construction- development projects) in the country, between April 2000 – December 2017.
- India is likely to witness an investment of around USD 1.3 trillion in housing over the next seven years, where it may witness the construction of 60 million new homes. The availability of affordable housing is expected to rise around 70%, by 2024, in India.
- Hence, owing to the above-mentioned reasons, Asia-Pacific region is likely to dominate the global hybrid adhesives & sealants market.

Competitive Landscape
The hybrid adhesives and sealants market has a higher degree of fragmentation owing to the presence of numerous players over different regions, globally.Some of the major compnaies of the market include Henkel Corporation, Wacker Chemie AG, Arkema, Sika AG, and 3M among others.

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