End-use industries recovery to propel coatings, adhesives, sealants and elastomers global market
PPE, food packaging, healthcare, and industrial sectors will drive the market in 2021 and beyond, finds Frost & Sullivan
SANTA CLARA, Calif. — Frost & Sullivan’s recent analysis finds that the coatings, adhesives, sealants, and elastomers (C.A.S.E.) market is likely to witness commendable growth in 2021 as its key end markets—healthcare, construction, and packaging—are witnessing a quicker than expected recovery from the impact of the pandemic. With the anticipated restoration of semi-normalcy in the latter half of 2021, end-use industries are likely to operate to their full capacity, thereby pushing the demand for C.A.S.E. By the end of 2021, the global C.A.S.E. market is estimated to reach nearly US$225 billion, registering 2% growth from US$220.5 billion last year. This study provides the top 2021 trends impacting the market, revenue forecasts for each product group segment, predictions, growth opportunities, and regional insights from North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific (APAC).
“The personal protective equipment (PPE), food packaging, healthcare, and industrial machinery end-use industries will drive the market in 2021 and beyond. Adhesives specifically designed for flexible packaging applications are an emerging concept and expected to be a key R&D focus for adhesive manufacturers in 2021,” said Ganesh Dabholkar, Senior Research Analyst, Chemicals, Materials and Nutrition Practice at Frost & Sullivan in a statement. “High-precision bonding will also become a top requirement in electronics, luxury packaging, healthcare, and jewelry applications. Adhesive manufacturers should invest in product development and plan to provide exclusive technical support to their extreme-precision adhesive customers.”
C.A.S.E. manufacturers should focus on the following growth prospects:
- Innovative adhesive and sealant development to meet challenging EV applications: Sealant manufacturers should focus extensive R&D investment on developing sealants that efficiently seal complicated joints in an EV battery pack and simultaneously ensure high resistance to undesired environmental factors.
- Tire Manufacturers Open Business Opportunities for Elastomer Manufacturers: Developing desired characteristics, such as faster crosslinking and lower elastomer viscosity, will contribute to more efficient tire production, which is a major advantage for tire manufacturing customers.
- High-performance Acoustic and Fire Sealant End-use Requirements: Sealant manufacturers need to leverage the current demand-supply gap for high-performance sealants designed to react at certain temperatures to meet the desired fire rating.
- Specialty Products for Modular Construction: Global manufacturers should concentrate on developing C.A.S.E. products that are exclusive to construction automated processes, such as prefabricated construction.