Acrylic Adhesives Market To Grow Enormously with Size Worth $9.65 Billion By 2025 |Grand View Research, Inc.
The global acrylic
adhesives market size is expected
to reach USD 9.65 billion by 2025,
according to a new report by Grand View Research, Inc., progressing at a CAGR
of 6.3% during the forecast period. Increasing demand for high-quality premium
adhesives from the construction and other end-use industries is projected to
drive the market.
Today, adhesives are being widely used
in the food and pharmaceutical industries. Pressure sensitive products are
packed in custom-fit containers with internal foam cushioning to secure the
package during transportation. In line with rising concerns among consumers and
regulatory agencies, the packaging industry is putting efforts to reduce the
environmental impact of its processes, which in turn is leading to growing
usage of renewable bio-based raw materials.
There are several agencies working in
the field of adhesives to ensure consumer safety upon application across
diverse end-use industries. The Code of Federal Regulations and ISO standards,
when implemented by a manufacturer, uses isolated manufacturing lines that are
capable of processing active ingredients in formulating facility.
Some of the key manufacturers across
the globe are Bayer Corporation,
Covestro LLC, BASF, 3M Corporation, Henkel, and Avery Dennison Corporation.
These companies hold strong supply chain network and have a sustainable product
line that compliments governmental rules and regulations in the industry. Bayer
Corporation, 3M, Henkel, and BASF are the key players in supplier’s arena
globally. High level of integration is held by Bayer and Henkel. While, the
U.S. is a major market for acrylic adhesives followed by European countries,
there is a significant acrylic adhesive imports in India, China, Mexico, and
Canada.
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Adhesives and
sealants are now replacements for majority of mechanical fasteners used in
transportation, product-assembly, and construction industries. They are
increasingly being implemented in the hygiene industry, which may create a
challenge for the packaging market in the foreseeable future. Hot-metal
adhesives are going to gain more importance as compared to water-based
adhesives.
Further key findings from the report suggest:
·
Asia Pacific is projected to
stay one of the largest consumers of the product owing to increasing
industrialization across China, Japan, Vietnam, and India
·
A part of the requirements for acrylic
adhesives in Asia Pacific & the Middle East are generated from the paper,
packaging, woodworking and construction industries
·
With rising disposable income
of the populace in emerging economies coupled with expanding manufacturing
facilities, the demand is poised to increase in the future
·
The global acrylic adhesives
demand was estimated at 3,864.4 kilotons in 2016 and is anticipated to rise at
a CAGR of 5.2% till 2025
·
Soaring demand for compounds
free of volatile organic particles is leading to increase in consumption of
water-based acrylic products across North America and Europe
·
Stringent government
regulations for environmental protection, laid down by the European Union and
other developed economies, are likely to restrict the growth of the market
·
Key industry participants
include Bostik AG, DowDuPont, Henkel AG, 3M Company, Avery Dennison, and HB
Fuller.
Building
materials that use these adhesives, add design flexibility to new home,
offering a wide variety of colors and profiles. These coatings also find
increasing application scope within the construction industry, owing to high
mechanical strength and adhesion to numerous substrates. This factor along with
constant technological improvements is stirring up the demand for the product
in construction applications.
Acrylic
adhesives are widely used in the wood and furniture industry owing to their
excellent mechanical strength, adhesion, and hardness. With introduction of
latest advanced technologies, they are immediate replacement of mechanical fasteners.
These tapes stick better over time and are more durable & environmentally
sensitive, which makes them popular in the industry. Most of all, they produce
minimal fumes and off-gases as compared to asphaltic tapes used in the past.
Browse Press Release
of this report:
The automotive industry is one of
the largest users of reaction injection molded products. These products are
utilized to maximize shock absorption of a car’s fenders & bumpers. There is
an increase in consumption of rigid acrylic adhesive foam over the past few
years. The primary reason is to reduce the gross vehicular weight, thereby
increasing fuel efficiency and complying with regulatory norms set by the
government in favor of clean environmental drive. These factors are likely to
trigger the growth of the segment during the forecast period.
Grand View Research has segmented the
global acrylic adhesives market on the basis of technology, application.
Acrylic Adhesives Technology Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
·
Water Based
·
Solvent Based
·
Reactive & Others
Acrylic Adhesives Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
·
Packaging
·
Construction
·
Wood & Furniture
·
Transportation
·
Electrical & Electronics
·
Consumer Goods
·
Medical Devices
·
Others
Water-based
adhesives have widespread applications in the construction, packaging, rigid
& non-rigid bonding, tapes, and transportation industries due to their
properties such as viscosity, tack, set speed, bond strength, and lay-flat
properties among others. Multinationals across the globe are trying to renovate
their products, to cater needs across a broader market base.
Solvent-based
products are a mixture of polymers dissolved in a solvent. Hardening of
adhesives depends largely on evaporation rate of solvents. The choice of
adhesives depends on certain conditions, which include temperature and oil
& plasticizer resistance among others.
Poly-coatings
are majorly used for a smooth durable finish that has superior resistance to
corrosion, chemical exposure, and abrasion. They are widely utilized in
hardwood, construction, and automotive applications to improve appearance and
durability of products. Rising demand for these coating is poised to augment
the acrylic adhesives market.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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