Middle East & Africa Adhesives & Sealants Market - Segmented by Product Type, Technology, End-user Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The Middle-East & Africa Adhesive market is expected to register a CAGR of 5.02% in terms of revenue during the forecast period, 2018 to 2023. The Middle East & Africa Sealant market is expected to register a CAGR of 4.88% in terms of volume during the same period. Major factors such as shifting focus toward composite joints and accelerating demand from the automotive industry has attributed for the market growth.
Water-Borne Adhesives - The Dominating Segment by Technology
In 2017, water-borne adhesives dominated the Middle East & Africa adhesives market both in revenue and volume terms. Water-borne adhesives are increasingly becoming an integral part of various end-user industries, owing to their eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties. Water-borne adhesives are used in a wide range of applications in the automotive, construction, shoe, woodwork and furniture, mattress, and paper and packaging industries, among others. Improvement in the financial status of consumers in Africa and some Middle Eastern countries, such as Oman, is making them the regions of immense potential and opportunities for the consumption of water-borne adhesives.
Building & Construction - The Fastest End-User Industry Segment
Building & Construction end-user industry accounted for both the largest and the fastest growing industry in the Middle East & Africa adhesives & sealants market both in terms of revenue and volume. Adhesives and sealants, owing to their characteristics and physical properties, have extensive use in the building and construction industry. These properties include good cohesion, adhesion and elasticity, high cohesive strength, flexibility, high elastic modulus of substrate, resistance from thermal expansion, and environmental resistance from UV light, corrosion, salt water, rain, and other weathering conditions. In 2017, the growth rate of the construction industry was stable, but it is expected to increase in the future in the Middle East & African region, due to a huge investment in infrastructural activities in countries, like Saudi Arabia, the United Arab Emirates, and Qatar.
Saudi Arabia to Dominate the Adhesives & Sealants Market
The government’s tenth development plan has supported investments in sectors, such as healthcare, housing projects, construction & maintenance in the oil & gas sector, etc. The population of Saudi Arabia has also been increasing at a healthy rate, thus boosting the demand for houses in the country. These development plans are expected to register robust growth during the forecast period, thus driving the market for adhesives and sealants. The electronics market in Saudi Arabia slowed down in the recent past, but has good potential, with rising population and demand for electronics goods, such as smartphones, LED and LCD TVs, tablets, electrical machines, equipment, and washing machines. Moreover, the packaging industry in Saudi Arabia is the key driver for the demand for adhesives and sealants. In packaging, adhesives and sealants have multiple applications, such as sealing, bonding, and labeling. In line with the growing population and demand for hygienic products, the food packaging market has been growing. The growth of these industries is expected to continue on an upward trajectory during the forecast period, thus augmenting the adhesives & sealants market in the country.
Major Players -Henkel AG & Co. KGaA, Sika AG, H.B. Fuller, Arkema Group (Bostik SA), Illinois Tool Works Inc. (ITW Dynatec), 3M Company, and RPM International, among others.
Reasons to Purchase the Report
- Identify the current and future prospects of the Middle East & Africa adhesives & sealants market in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- Information about the growth of the various product types, technologies and end-user industries that are expected to dominate the market
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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