Water-based Adhesive Market by Resin Type (PAE, PVA Emulsion, VAE Emulsion, SB Latex, and PUD), Application (Tapes & Labels, Paper & Packaging, Woodworking, Building & Construction, and Automotive & Transportation), and Region - Global Forecast to 2023

Water-based Adhesive Market by Resin Type (PAE, PVA Emulsion, VAE Emulsion, SB Latex, and PUD), Application (Tapes & Labels, Paper & Packaging, Woodworking, Building & Construction, and Automotive & Transportation), and Region - Global Forecast to 2023

“The water-based adhesive market is projected to register a CAGR of 5.7%, in terms of value, between 2018 and 2023.”
The water-based adhesive market size is projected to grow from USD 15.3 billion in 2018 to USD 20.2 billion by 2023, at a CAGR of 5.7%. The increasing demand from various applications such as tapes & labels, paper & packaging, woodworking, building & construction, automotive & transportation; and stringent government regulations in the chemical industry are expected to drive the water-based adhesive market. However, the fluctuating prices of raw materials might adversely affect the overall cost of production for water-based adhesive manufacturers.

“The polyurethane dispersion segment is projected to register the highest CAGR in the water-based adhesive market during the forecast period.”
The polyurethane dispersion segment of the market is projected to register the highest CAGR, in terms of volume and value, between 2018 and 2023. PUD is widely used for profile lamination in interior decoration due to its excellent resistance to solvent, high cohesive strength, good impact, and abrasion resistance.
The water-based adhesive market in the automotive & transportation application is projected to register the highest CAGR during the forecast period.

The market in the automotive & transportation application is projected to register the highest CAGR, in terms of volume and value, between 2018 and 2023, due to the stringent government regulations regarding indoor air quality in passenger vehicles and stringent automotive OEM standards. The increasing need to bond different lightweight materials without compromising on the bonding strength and reduction in CO2 emission are expected to drive the water-based adhesive market in this application during the forecast period.

“The APAC water-based adhesive market is projected to register the highest CAGR during the forecast period.”
APAC is the world’s fastest-growing water-based adhesive market, driven mainly by the booming economies such as China, India, and a few smaller ones, such as South Korea, Vietnam, Taiwan, and Indonesia. The region experiences high demand from the paper & packaging and woodworking applications. The improving economic condition, focus on R&D projects to innovate products, and increasing demand from various application have fueled the demand for water-based adhesives in APAC. The region has a low cost of production, improved ability to serve the emerging local markets, and potential growth opportunities, therefore major manufacturers are focusing on this region to earn significant profits.

Profile break-up of primary participants for the report:
By Company Type: Tier 1 - 30%, Tier 2 - 42%, Tier 3 - 28%
By Designation: C level - 32%, Director level - 38%, Others - 30%
By Region: APAC - 55%, North America - 15%, Europe - 17%, Middle East & Africa - 9%, South America - 4%

As a part of qualitative analysis, the research study provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players such as Henkel (Germany), H.B. Fuller (US), Arkema (Bostik) (France), and Sika (Switzerland), among others.

Research Coverage:
The report defines, segments, and projects the water-based adhesive market based on resin type, application, and region. It provides detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market. The report analyzes competitive developments, such as new product launch, investment & expansion, and merger & acquisition, undertaken by the key players to achieve growth in the market.

Reasons to Buy the Report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers of the overall water-based adhesive market and its subsegments. This report will help stakeholders better understand the competitive landscape and gain insights to position their businesses better and make suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, opportunities, and challenges.