Global Solvent Borne Adhesives Market - Segmented by Resin type, End-user, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global solvent borne adhesives market is expected to register a moderate CAGR during the forecasted period, 2018-2023. The major factor driving the market growth is the increasing demand from automotive and footwear industry in Asia Pacific economies, however, the market is restrained by environmental regulations on the solvents.
Environmental Regulations Hindering the Market
The most common used solvents are toluene, heptane, n-butyl, and other mineral spirits. The market faces challenges regarding the usage of these solvents because they are considered VOC’s and causes environmental degradation. Countries, like United States and some parts of Europe has imposed strict regulations regarding the usage of acetone, methyl acetate, t-butyl acetate, and perchlorobenzenetetraflouride, thereby, restraining the market.
Footwear End User a Potential Segment
The market is based on the resin types and end-user industry. Based on the end-user industry, footwear is expected to grow a good rate because of high demand from Asia pacific economies. Solvent borne adhesives are used especially in sportswear for durability purposes and countries, like China, Japan etc., have been witnessing an increasing demand for sports footwear, thereby, driving its production.
Asia Pacific a High Growth Region
Asia Pacific holds the maximum share and is expected to retain its share during the forecasted period, because of growing transportation and footwear industry in countries, like China, India & ASEAN economies.
Major Players: 3M, Arkema Group (Bostik Sa), Ashland INC., Avery Dennison Corp., The Dow Chemical Company, H.B. Fuller Company, Henkel AG & CO. KGAA, Huntsman Corp., and SIKA AG, among others.
Reason to Purchase this Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
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