In a recent published report, Kenneth Research has updated the market report for Hybrid Adhesives & Sealants Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hybrid Adhesives & Sealants Market products.
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On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
Global Hybrid Adhesives & Sealants Market was valued at USD 4.95 Billion in the year 2017. Global Hybrid Adhesives & Sealants Market is further estimated to grow at a CAGR of 8.9 % from 2019 to reach USD 9.66 Billion by the year 2025. The North America region holds the highest Market share in 2017 and the Asia Pacific is considered as the fastest growing Market in the forecasted period. At a country level, US, China, and the U.S. are projected to grow strongly in the coming years due to increasing density of population and funding through Research and Development.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Major market palyers in Hybrid Adhesives & Sealants Market are Soudal, Bostik, Sika AG, Wacker Chemie AG, Henkel AG & Co. KGaA, 3M Company, TREMCO ILLBRUCK, H.B. Fuller, Illinois Tool Works Incorporation, Kisling AG, and brief overview of 9 companies is also provided. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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SWOT analysis of Hybrid Adhesives & Sealants Market:
Strength:
Unavailability of New Polymeric Materials
Weakness:
Lack of acceptance from end users
Opportunities:
Growing Demand for Sustainable Adhesives & Sealants
Threats:
Limited Market Opportunities in Developed Countries
The Global Hybrid Adhesives & Sealants Market is segmented as By Resin, Application, and Region. The Resin segment is divided into MS Polymer Hybrid, Epoxy-polyurethane, Epoxy-cyanoacrylate and others in which the Epoxy-cyanoacrylate segment accounts for the largest Market share. Epoxy-cyanoacrylate resin provides exceptional bond strength to various substrates including plastic, metal, composite, rubber, and others. Epoxy-cyanoacrylate resin provides fast fixturing, which reduces the assembly time and a robust cure is quickly achieved even at low temperatures.
Hybrid Adhesives & Sealants Market Segmentation:
By Application
=Building & Construction
=Automotive & Transportation
=Industrial Assembly
=Others
By Resin
=MS Polymer Hybrid
=Epoxy-polyurethane
=Epoxy-cyanoacrylate
=Others
By Region
=North America
o USA
o Canada
=Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
=APAC
o China
o India
o Japan
o Rest of Asia-Pacific
=RoW
o Latin America
o Middle East & Africa
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