TAGS: Solvent borne Adhesives Polyurethane Adhesives Sealants
Research and Markets (RM) anticipates that the global solvent-based adhesives market exhibits high growth potential and is projected to reach a market size of USD 8.5 billion by 2026 from USD 7.6 billion in 2021, at a CAGR of 2.3%.
The market growth opportunities solvent-based are increasing due to the strength of solvent-based adhesives. They provide superior shear and peel strength. The growth of the market is supported by the increasing construction and automobile applications and growing demand in the APAC region.
Solvent-based adhesives hold the advantage in fast-paced industries because they have a short fixing time, substantially decreasing the amount of time waiting for an application to set. In addition, some solvent-based adhesives are not flammable; therefore, it is still effective to use in a flammable environment such as a kitchen or garage.
Highest CAGR by Polyurethane Segment
Polyurethane provides better tint-ability, adhesion, and abrasion resistance. In the automotive industry, polyurethane adhesives are used in the manufacturing of vehicles, in the repair of auto glass, sealing of metal structures such as containers and trucks, in the manufacturing and installation of air conditioning in HVAC systems, to reduce vibration and provide sealing in metal sheet joints.
In APAC, polyurethane adhesives are mainly used in automotive & transportation applications, as the region leads in vehicle production globally. More than 90% of automobiles are produced with bonded windshields and rear windows using polyurethane globally. Therefore, the increasing demand from automotive and other applications in APAC is expected to drive the polyurethane segment.
Paper & Packaging: Largest Application of Solvent-Based Adhesives
Paper & Packaging is the largest application segment, in terms of both volume and value, between 2021 and 2026. This is because of the increased use of solvent-based adhesives in a wide variety of paper bonding applications ranging from corrugated box construction and the lamination of printed sheets to packaging material used for all types of consumer products and the production of large industrial tubes and cores used by manufacturers of roll goods and other materials.
The increased demand for flexible packaging will play an important role in driving the solvent-based adhesives market.
APAC is projected to be the largest and the fastest-growing market for solvent-based adhesives during the forecast period. APAC is an emerging market in terms of demand for solvent-based adhesives. China and India have been the driving forces behind the rapid development of the market in APAC, as well as globally.
The growth in these countries is attributed to high economic growth and heavy investments in the packaging and automotive & building & construction sectors.
Source: Research and Markets