Asia-Pacific Waterborne Adhesives Market - Segmented by Type, Application, End-user Industry, Polymer, and Geography - Growth, Trends, and Forecast (2018 — 2023)
The Asia-Pacific waterborne adhesives market is estimated to witness a CAGR of 8% for the forecast period of 2018–2023. China and India are the fastest growing countries in the Asia-Pacific due to increasing population and rapid growth in the automotive industry. With increasing population of China and India, there is a growing demand for automobile and consumer furniture industry. Both automobile and furniture industry extensively use adhesives and thus, this growth compliments the growth in the adhesive industry.
Increasing Awareness about Eco-friendly Waterborne Adhesives
With the shift toward eco-friendly products and raw materials, the use of waterborne adhesives is highly supported by various industries. This shift in the thought process has increased the research and innovation in the field of waterborne adhesives. Adding to newer innovation is the better performance of waterborne adhesives as compared to other adhesives currently available in the market.
Packaging - Fastest Growing Industry for Waterborne Adhesives
Packaging is a rapidly growing industry with respect to waterborne adhesives as they are nonreactive and safer as compared to other types of adhesives. Waterborne adhesives are cost-effective, non-reactive, and quick hardening as compared to previous adhesive technology. Thus, the use of waterborne adhesives in packaging materials is seen as a technologically upward trend in the Asia-Pacific region.Also the use of waterborne adhesives is seen as an eco-friendly step among the manufacturers.
Asia-Pacific Outperforming Other Regions
Growth in the Asia-Pacific region is much higher as compared to other regions. The reason for this growth is the growing middle class in this region, particularly in China and India. The increased demand for packaging and automotive industry in the region has also added to significantly higher growth in this market. Rapid urbanization and population growth also propelled infrastructure and construction activities in this region, which, in turn, adds to the growth of waterborne adhesives market. The countries, like China, India, and Japan among others are the key markets for adhesives in Asia-Pacific. These countries observe a large investment in infrastructure and packaging, which puts them in the forefront.
Major Players: 3M Co., Adhesives Research Inc., Arkema Group, Ashland Inc., Benson Polymers Ltd, DELO Industrial Adhesives, Huntsman Corp., Pidilite Industries Ltd, Sika AG, and Yokohama Industries, among others.
May 2017: Adhesives and Sealants as an enabling technology for lightweight, safe, and high performing steel vehicles. The innovation and development in adhesive industry has paved way for stronger, lighter, and tougher adhesive properties.
Reasons to Purchase the Report
To understand the impact of end-user applications on the market.
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
Countries expected to witness the fastest growth during the forecast period.
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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