The worldwide Acrylic adhesives market is expected to show an upward trend in sales with CAGR 5% TO 6%. Key factor supporting this growth is increased demand for Acrylic adhesives in packaging, construction and other key end-use industries.
It is used in a variety of industries, including construction, paper and packaging, medical, transportation, carpentry, consumer electronics, and electronics. This scenario depicts the potential for suppliers in the Acrylic adhesives industry to grow.
On the strength of increased demand for long-lasting adhesive products from all over the world, the industry is expected to earn significant revenues.
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What is Driving Demand for Acrylic Adhesives
In this COVID-19 pandemic, many major industrial and commercial activities have been significantly impacted. However, this pandemic has provided opportunities for the packaging industry as many countries have witnessed lock downs due to this deadly virus, it has been critical to stock up on essential supplies such as medicines, dairy products, food, sanitizers, face masks, disinfectants, and many others. This factor has skyrocketed demand for packaging and related products including acrylic adhesives.
The rapidly rising construction industry in Asia-Pacific and the Middle East regions, as well as increasing usage in the packaging industry, are the primary factors driving the growth of its market.
Fast growing E-commerce Sector Expected to Drive the Consumption of Acrylic adhesives
Packaging is one of the largest end users of Acrylic adhesives. Some of the applications include bags, cigarettes and filters, cartons’ side seams and closures, composite containers and tubes, disposables, envelopes, flexible packaging, labels/signs/decals, specialty packaging, and corrugated boards, among others.
The consumers and customers around the world prefer packed products rather than initially available and sold lose products such as fruits, vegetables, etc. As a result of the pandemic, demand for the packaging industry has increased. With increasing growth of e-commerce platforms, the need for product packaging and related consumables is bound to increase.
In construction industry Acrylic may be used as the base material in pressure-sensitive adhesives because it is suitable for a wide range of materials and provides greater stability, durability, and versatility due to key properties such as excellent resistance to shear, UV light, moisture, solvents, chemicals, and extreme temperature
Asia-Pacific of Acrylic Adhesives Market Outlook
The Asia-Pacific region is predicted to have the largest share of the global market. The need for adhesives in the region has been driven by factors such as robust increase in building activities, increasing packaging demand from the expanding e-commerce business platform and increasing output in the food and beverage industry. Due to high packaging needs, countries such as China and India dominate the market demand for it.
As internet usage in these countries continues to increase at a rapid pace, China and India have the potential to grow at a quicker rate in the e-commerce packaging market. Moreover, the construction sector in these countries is expected to grow at a noticeable rate, owing to various planned projects planned for construction, during the forecast period. Additionally, construction is growing at a noticeable rate in countries, such as Indonesia, Thailand, and Singapore.
North America Acrylic adhesives Market Outlook
The increase in the number of building projects and the rise of the packaging industry are both driving demand for it. However, strict VOC emission laws connected to its disposal and or substitution from alternate feedstocks may stifle industry expansion.
Shifting focus towards the bio-based adhesives and replacement of solvent-borne adhesives in construction industry are likely to offer opportunities for the Acrylic adhesives market in North America. United States stands to be the largest market for Acrylic adhesives in the region, with consumption being majorly driven by the end-user industries, like construction, electronics and packaging.
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Who are the Key Manufacturers and Suppliers of Acrylic Adhesives?
Some of the leading manufacturers and suppliers of Acrylic adhesives
- Henkel AG & Company
- H.B. Fuller
- Bostik SA
- Avery Dennison
- Illinois Tool Works Inc.
- Pidilite Industries Limited
- Sika AG
- Royal Adhesives & Sealants LLC
Key players are investing considerable efforts to advance the quality of their products. As the quality of the product is the major factor for increasing share in the market. Acrylic adhesives find application in a wide range of industries such as construction, paper and packaging, medical, transportation, woodworking, consumer, and electronics.
This scenario shows the potential for the growth of vendors in the market. The market is estimated to generate prominent revenues on the back of growing demand for long-lasting adhesive products from all worldwide locations.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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