TAGS: Hot-melt Adhesives Waterborne Adhesives
Research and Markets (RM) anticipates that the low-volatile organic compound (VOC) adhesives market is projected to grow from USD 49.5 Billion in 2021 to USD 63.3 Billion by 2026, at a CAGR of 5.0% between 2021 and 2026. The key factor driving the growth of the market is increasing demand from the woodworking and construction sectors.
Paper & Packaging: Largest Market Segment
Low VOC adhesive adhesives are used in a wide range of applications, such as case & carton, corrugated packaging, and flexible packaging. Case & carton are boxes made of paperboard that is used for packaging of goods. They are used for the storage of agricultural & poultry products, biscuits, chocolates, pharmaceutical products, and industrial purposes.
The adhesive technology to be used for case & carton packaging applications are chosen based on the production line. The hot-melt and water-based adhesives technologies are mainly preferred for case & carton applications.
Fastest Growth in APAC Region
APAC is forecasted to be the fastest-growing Low VOC adhesive market during the forecast period. The APAC market is expected to witness significant growth due to the rising use of low VOC adhesives in various industries, such as construction, packaging, transportation, woodworking and consumer use in countries such as China, India, and South Korea.
APAC is a strategic location for many transportation and automotive manufacturers to set up or expand their manufacturing base and take advantage of the low manufacturing cost.
Source: Research and Markets