Industry News

Technical Progresses to Fuel Demand for Acrylic Adhesives: MarketsandMarkets

Published on 2017-06-01. Author : SpecialChem

The report "Acrylic Adhesives Market by Type (Acrylic Polymer Emulsion, Cyanoacrylic, Methacrylic, UV Curable Acrylic), Application (Paper & Packaging, Construction, Transportation, Medical, Consumer, Electronics), Technology, and Region - Global Forecast to 2022", The acrylic adhesives market is projected to grow from USD 8.84 Billion in 2017 to USD 11.72 Billion by 2022, at a CAGR of 5.81% between 2017 and 2022.

Acrylic Adhesive
Technological advancements are expected to fuel the demand for acrylic adhesives in mature markets, such as North America and Europe. Properties such as less cure time, increased performance benefits, better adhesion to a variety of substrates, and resistance to chemicals and various innovations in acrylic adhesive products are expected to drive the growth of the market in the near future.

The acrylic adhesives market is shifting from traditional solvent-based adhesives to high-performance products such as reactive acrylic and pressure-sensitive acrylic adhesives, driven by the requirement of superior performance.

Paper & Packaging

Paper & packaging was the largest application segment of the acrylic adhesives market in 2016. Increasing demand for consumer goods in several countries across the globe is a key factor expected to fuel the growth of the paper & packaging segment in the coming years. In the packaging application, acrylic adhesives are extensively used in the production of labels, cases and cartons. Other applications of acrylic adhesives include building & construction, woodworking, transportation, consumer, and leather & footwear, among others.

Water-based Adhesives

Water-based adhesives segment was the largest formulation technology segment of the acrylic adhesives market in 2016, in terms of both value and volume. Water-based is the most broadly-used technology in the formulation of adhesives. Water-based adhesives possess unique characteristics, such as UV, humidity, and discoloration resistance.

Largest Market

Asia-Pacific is expected to be the largest acrylic adhesives market during the forecast period. Growing population and increased demand from applications, such as paper & packaging and construction are expected to fuel the growth of the Asia-Pacific acrylic adhesives market. Countries such as China, Japan, and India are expected to be the major markets for acrylic adhesives in Asia-Pacific. China is estimated to be the largest market in terms of consumption.

Key companies operational in the market include Henkel AG & Company (Germany), 3M Company (U.S.), Bostik SA (France), H.B. Fuller (U.S.), Illinois Tool Works Inc. (U.S.), Avery Dennison (U.S.), Sika AG (Switzerland), and Royal Adhesives & Sealants, LLC (U.S.).

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Source: MarketsandMarkets
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