Global Acrylic Adhesives Market - Segmented by Technology, End-User Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)
The global acrylic adhesives market is expected to register a moderate CAGR during the forecast period, 2018-2023. Asia-Pacific dominated the acrylic adhesives market in 2017, and is also expected to register the fastest growth during the forecast period.
Augmenting Demand from the Packaging Industry Driving the Market
The packaging industry was the largest consumer of acrylic adhesives in 2017. In the packaging industry, acrylic adhesive is widely used in tapes, labels, cases and cartons. The packaging industry in North America and Europe are mature markets. Asia-Pacific is the region witnessing considerable growth; especially China and India are the major growing markets for this industry. As the packaging industry is growing, the market for acrylic adhesives is also expected to increase globally owing to the increasing applications. Europe is the largest market for bookbinding adhesives, followed by Asia-Pacific, North America and South America. The demand for books and related materials is expected to increase with the increasing population and literacy rate around the world. Such positive factors are expected to drive the acrylic adhesives market through 2023.
Water-based - The Technology Dominating the Acrylic Adhesives Market
Water-borne adhesives are increasingly becoming an integral part of various end-user industries, owing to their eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties. Furthermore, absence of volatile organic compounds (VOCs) in water-borne adhesives is another major reason for the increasing adoption of water-borne technology over others. Water-borne adhesives are used in a wide range of applications in the automotive, construction, shoe, woodwork & furniture, mattress and paper & packaging industries, amongst others. For instance, automotive production registered a growth rate of 2.4% in 2017 with maximum growth in Asia-Pacific and Europe region. Furthermore, the market is further expected to grow in the upcoming years owing to rising investments in the automotive market. As these industries continue to grow, the market for water based acrylic adhesives too is projected to rise during the forecast period.
Asia-Pacific – The Largest Regional Market
Asia-Pacific accounted for the largest market for acrylic adhesives, owing to a huge demand from countries such as India, China, South Korea, and various countries in Southeast Asia. Expanding packaging industry, increasing demand for appliances and sporting goods, exceptional investments in infrastructure, growing automotive production in various countries, rising manufacturing activities in electrical and electronics, especially in China, are the few factors that are expected to drive the acrylic adhesives market in Asia-Pacific region through the forecast period.
September 2017: H.B. Fuller Company announced their decision to acquire Royal Adhesives and Sealants for USD 1.575 billion. The successful acquisition would make the combined company one of the world’s largest makers of specialty adhesives
August 2017: Sika AG acquired ABC Sealants, a Turkish-based manufacturer of sealants and adhesives
Major Players: Henkel AG & Co. KGaA, Arkema (Bostik), ITW, Mapei, and HB Fuller, RPM International, Sika AG, and 3M Company, amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating technology and end-user industry in the market
Identifying the regions and countries, which are expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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