TAGS: Waterborne Adhesives Acrylic Adhesives Sustainability / Natural Adhesives
Research and Markets (RM) anticipates that the market for water-borne adhesives is likely to register a CAGR of over 5 percent, during 2021-2026 the forecast period. One of the major factors driving the market is the increasing demand from the packaging industry.
Limited usage in high-end applications is likely to act as a restraint to the market studied. Acrylic resin type has accounted for the highest share of the market and is expected to continue dominating the market during the forecast period.
The incorporation of bio-based polyol components in water-borne adhesives is likely to provide opportunities for market growth, in the future. Asia-Pacific is likely to account for the major market share, during the forecast period.
Demand from Construction Industry to Boost Market
In the construction sector, adhesives are used in concrete, ceramic tiles, carpet laying, flooring underlayment, drywall lamination, joint cement, manufactured housing, pre-finished panels, resilient flooring, roofing, and wall covering. Various types of adhesives are used depending on the purposes they serve. The growth in green
building construction, coupled with the rising concern about the quality of construction, is accelerating the demand for water-borne adhesives.
Water-borne adhesives are produced from either soluble synthetic polymers or natural polymers. Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. Water-borne adhesives are increasingly becoming an integral part of construction chemicals, owing to their eco-friendly and low-toxic nature, high-solid content, and high initial adhesion properties.
Furthermore, according to the United Nations (UN), around 50% of the global population resides in urban cities, which is projected to touch 60%, by 2030. The pace of economic and demographic growth has to be in harmony with the demand for commercial, residential, and institutional construction activities. By 2030, around 40% of the global population is likely to need housing at the rate of over 96,150 houses per day. Hence, with the growth of the residential sector, the use of water-borne adhesives is likely to increase during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific dominated the water-borne adhesives market, in terms of consumption. China is currently the leading consumer of water-borne adhesives across the world, followed by India. Most of the major players of the market have a presence in China. The rapidly growing packaging industry of China is also likely to boost the demand for water-borne adhesives.
In India, the construction and packaging sectors have been witnessing substantial growth in recent years, owing to the increasing investments from the government. Furthermore, shifting consumer focus toward flexible packaging may offer numerous opportunities for the growth of the Asia-Pacific water-based adhesives market.
Source: Research and Markets