New York, NY -- (SBWIRE) -- 02/16/2018 -- Strong growth and projections for the automobile and construction industry in the next 8 years from rising regional economies such as Asia Pacific, Africa and South America will likely foster the growth of this market. Rental vacancy rates in Asia-Pacific are at an all time low in 2017 and house ownership rates are witnessing a significant growth in this region prompting increasing demand for adhesives and sealants applicable construction materials.

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Emerging markets for electronics, energy coupled with aggressive rise in industrialization rate in India, China Indonesia and Philippines in Asia Pacific is expected to have a positive growth in this market. Urbanization rate for South East Asia is estimated to be 35% by the IMF while the Pacific region's is estimated to be 85%.

These indexes showcase rapid growth in housing and construction projects therefore directly positively impacting the adhesives industry. Rising economies in this region also owns a common phenomenon of substantial slum settlements which the working governments in this region are aggressively trying to eradicate.

Water based formulations segment holds the largest market share in the adhesives & sealants market, by type

Water based formulations dominated the market with an impressive 43.15% in 2016.
The ecofriendly nature of this technology aligning its characteristics with VOC emission norms is one of the factors fostering the growth of water based formulations demand.

Acrylic segment holds the largest market share in the adhesives & sealants market, by application

Acrylic segment was estimated to be the largest in 2016 and is estimated to continue doing so in the upcoming years. Acrylic accounted for a major share of more than 35% in 2016.
Trends indicated a forecast in further dip of polyurethane prices in 2021-2022.

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Global Adhesives Technology Outlook (Kilo Tons) (USD Million), 2015 - 2025
1 Water-Based
2 Solvent-Based
3 Hot Melt
4 Reactive & Other

Global Adhesives Product Outlook (Kilo Tons) (USD Million), 2015 - 2025)
1 Acrylic
2 PVA
3 Polyurethane
4 Styrenic Block
5 Epoxy
6 EVA
7 Others

This market is driven by increasing middle class incomes, rising economies and low raw material prices. Low commodity and chemicals such as ethylene, propylene and vinyl acetate monomers prices are allowing manufacturers in this market to enjoy an attractive profit margin.

However, there remains concerns in this industry that there might be a rise in raw material prices as crude oil prices are registering an increase, however we estimate with U.S. resuming its ethylene and propylene exports in bulk and China operating in maximum utlization capacity, the prices will continue to remain low for the next 3-4 years.

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