Improving Shipment Efficiencies in the Adhesives and Sealants Industry
Challenges exist within many transportation departments, including a lack of drivers, new hours of service rules, fluctuating demand, and higher prices.
According to Grand View Research, the global adhesives and sealants market was valued at $52.6 billion in 2017 and is expected to witness a CAGR of 5.6% from 2018-2025. Increasing demand from automotive, construction, packaging, furniture, footwear, and pressure-sensitive applications are primary factors driving growth. In the automotive industry, traditional welding and mechanical fastening methods are expected to be replaced by enhanced adhesives with superior bonding capabilities.
Raw materials for sealants and adhesives are derived from petrochemicals and crude oil, so the volatile prices of these materials is affecting the profitability of some companies. However, use in certain sectors of the industry, such as automotive, construction, and manufacturing, are seeing growth. For example, resurged demand for agricultural and mining equipment is expected to drive demand for sealants in industrial assembly.