TAGS: Waterborne Adhesives Polyurethane Adhesives Sealants
Research and Markets (RM) anticipates that the global water-based adhesive market size which was valued at USD 20.2 billion in 2021 and is expected to reach USD 29.5 billion by 2027, growing at a CAGR of 6.51% during the forecast period. The major end-user industries for the water-borne adhesives market include building and construction, packaging, automotive, footwear, tapes and labels, healthcare, electricals and electronics, and woodworking.
Increasing Demand from Packaging Industry
Water-based polyurethane adhesives are witnessing high growth owing to their increasing demand and application in packaging, automotive, electronics, and many other industries. The flexibility and excellent adhesion properties with any substrate make water-based coatings suitable for any industry.
Factors Contributing to Growth of WB Adhesive Market:
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Precise application of adhesive using digital printing
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Increasing usage of water-based adhesives for clear packaging
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Increasing demand for digitization of packaging
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Growing demand for lightweight vehicle
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Increasing demand for green adhesives
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Increasing demand for lightweight packaging adhesives
Problems regarding VOC emission and smells produced by applying adhesives have prompted manufacturers to create eco-friendly formulations. There is a demand for lightweight vehicles as they cause fewer carbon emissions. This is an important growth factor for the adhesives & sealants market.
Shift Towards Environmentally Friendly Raw Materials
There has also been a significant movement away from petroleum-based formulations, which emit styrene, naphthalene, vinyl cyclohexane, and toward water-based adhesives formulations. This is a positive step forward for indoor air quality and building occupant health and well-being. This will drive growth in the global water-based adhesives market. Due to expanding population, emerging economies, and the rapid pace of urbanization, APAC has emerged as the largest consumer of water-based adhesives. China, Japan, and South Korea are among the region's most important marketplaces.
Demand for natural polymers is increasing exponentially because of their ability to be used as a low-cost alternative to petroleum-based polymers. As the government regulations get stricter regarding petroleum-based products and VOC emissions, the vendors have to shift their focus to environmentally friendly raw materials used in water-based adhesives.
The market for PVA is growing in substrates such as cork, leather, paper, and cardboard. Industries dependent on water-based and hot melt adhesives extensively use polyvinyl alcohol adhesives in various applications. Some of the major sectors include - packaging, paper, construction, and wood processing.
Highest Growth in APAC Region
Increasing purchases from E-commerce websites will enable the water-based adhesives manufacturer to explore new business opportunities in North America. The demand for water-based adhesives used in building and construction applications has increased as the need for non-residential development and consumer expenditure on home furnishings has increased.
The water-based adhesives market is predicted to dominate the packaging sector, followed by the building & construction and automotive industries. In this sector, India and China will be the market leaders. Construction, electronics, tapes and labels, automobile and packaging industry is the driving factor for the water-based adhesive in the APAC region.
The key players in the water-based adhesives market are- 3M, Arkema, Sika, H.B. Fuller, and Henkel. Sika acquired Hamatite, the adhesives business of the Yokohoma Rubber Co. Ltd., which is a market leader in Japan, offering adhesives and sealants to the automotive and construction industries.
Source: Research and Markets