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The growth of the market is driven by the increased environmental regulations in North American & Europe and rise in economic growth.
NEW YORK, NEW YORK, UNITED STATES, January 18, 2022 /EINPresswire.com / -- The Hybrid Adhesives and Hybrid Sealants Market is estimated to grow from USD 6.44 Billion in 2020 to USD 11.22 Billion by 2026, at a CAGR of 7.22%, during the forecast period. The market is driven by increased environmental regulations in North American and European developed counties and economic growth in emerging countries such as China and India.
Asia Pacific is likely to rise over the forecast timeline at the leading CAGR. This is mainly due to the increasing production of automobiles and the expansion of the construction and building sector in developing economies such as South Korea, China, India and Vietnam, which for myriad applications depend significantly on hybrid adhesives and sealants.
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Top Companies: Wacker Chemie AG, Sika AG, Bostik, Henkel AG & Co. KGaA, Tremco illbruck GmbH & Co. KG, 3M Company,Illinois Tool Works Incorporation, Soudal, Kisling AG and H.B. Fuller.
Market Overview:
Rapid digitalization and sustainability have changed the dynamics of the chemicals and materials industry. Recent efforts to boost manufacturing and production capacity, improve R&D costs, and enhance flexibility and agility of the production facilities are key factors expected to drive market growth over the forecast period. Integration of blockchain, machine learning, and the Internet of Things (IoT) to improve work efficiency and increase production output have contributed to revenue growth. Chemical industry and rapid integration of nanotechnology that has enhanced production of materials like polymers, chemicals, raw materials, and bio-based plastics are also predicted to boost revenue growth of the market going ahead.
The advent of 3D printing has revolutionized the production of materials and improved R&D costs which has helped support new business models. In addition, advanced recycling technologies have addressed the concerns of plastic waste recycling and this has created a lot of lucrative opportunities for the companies operating in the market.
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Further key findings from the report suggest
The market is estimated to grow from USD 6.44 Billion in 2020 to USD 11.22 Billion by 2026, at a CAGR of 7.22%, during the forecast period. The market is driven by increased environmental regulations in North American and European developed counties and economic growth in developing countries such as China and India.
The market for epoxy - cyanoacrylate resin is expected to reach USD 3.39 Billion in 2026, at a CAGR of 6.84%. Epoxy - cyanoacrylate resin provides exceptional bonding strength to various substrates including plastic, metal, composite, rubber, and other substrate. Epoxy - cyanoacrylate resin provides fast fixation, which reduces assembly time, and a robust cure is quickly achieved even at low temperatures.
The automotive and transportation segment is expected to grow the highest at a CAGR of 8.30% during the forecast period. Sealant is a substance used to block the passage of fluids in materials, a type of mechanical seal, through the surface or joints or openings. Sealant is sometimes synonymous with caulking in construction and also serves the purposes of blocking the transmission of dust, sound and heat.
The building & construction segment is estimated to reach at USD 4.28 Billion, in 2026, at a CAGR of 7.87%. Hybrid adhesives & hybrid sealants are used in a wide range of building and construction industry sub - applications such as flooring, tiling, waterproofing, carpet laying, wall covering, insulation, roofing, civil work, façade, parquet, and others.
Asia-Pacific is expected to grow the largest and is expected to reach USD 2.93 Billion in 2026, at a CAGR of 8.15%. This can be attributed to rising demand from economies in the Asia Pacific region for hybrid adhesives & hybrid sealants, including countries like India, China, South Korea, Vietnam, Taiwan, and Singapore.
Europe is expected to reach USD 2.79 Billion in 2026, at a CAGR of 6.76%. Europe is a vital market for hybrid adhesives and sealants, powered by countries like Germany, Spain, and the United Kingdom.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of resin, applications, product-type and regional analysis.
Applications (Thousand Units: 2018-2028 and Revenue, USD Million; 2018-2028)
Building & Construction
Automotive & Transportation
Industrial Assembly
Product Type (Thousand Units: 2018-2028 and Revenue, USD Million; 2018-2028)
Threadlockers
Instant Adhesives
Structural Adhesives
Retaining Compounds
Electrically Conductive Adhesives
Film Adhesives
Thread Sealants
Others
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Region (Thousand Units: 2018-2028 and Revenue, USD Million; 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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