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The Europe, Middle East and Africa sealants and adhesives market is majorly driven by the growing automobiles and construction sectors in the region. Due to the rising industrialisation in the Middle East, the region is witnessing rapid construction of infrastructure. In 2018, Saudi Arabia announced that they will be diversifying their economic sectors, in an attempt to shift their dependency from their conventional oil economy. Due to the financial crisis in the recent years, the country has decided to expand industries like tourism and advanced manufacturing, providing further impetus to the construction industry. With the growth in the infrastructure sector, the sealants and adhesives market is also growing. The Middle East market acts as a platform for many key players to extend their reach by expanding their product portfolios. One of the key players in the Europe, Middle East and Africa sealants and adhesives market, HB Fuller Co (NYSE: FUL), opened its new base in Dubai in 2017, due to the rising emerging market in the region and the increased demand for adhesives.
The automotive industry is another significant application sector for sealants and adhesives, which is expected to further drive the market due to the increasing production of vehicles. Europe is among the world’s largest manufacturer and exporter of automobiles. In Europe, sealants and adhesives are used to construct lighter vehicles to reduce total emissions. Germany is a significant automobile market in the region and is also one of the largest global automotive markets. Thus, the robust automobile sector in Europe is aiding the growth of sealants and adhesives market in the region. South Africa, a significant market in Africa, is an emerging economy and is also one of the major automobile producers in the region. Thus, the country’s growing automotive sector is expected to boost the sealants and adhesives market in Africa. The increased demand for specialty equipment and accessories in South Africa is also driving the market for sealants and adhesives.
Market Analysis by Type, End-Use, and Region:
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The key players in this region are Henkel AG & Company, KGaA, H.B. Fuller Company, Wacker Chemie AG, Arkema Inc., Evonik Chemicals Limited, Sika AG, Saint-Gobain S.A, Akkim Construction Chemicals Inc., Dubai Adhesive Material Factory LLC, Strongbond Manufacturing (Pty) Ltd among others. The report provides a detailed insight into the latest developments of the competitive landscape of the Europe, Middle East and Africa sealants and adhesives market like plant turnarounds, market share, expansions of capacity, and mergers and acquisitions.
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