Competition Outlook:
Royal Adhesives & Sealants, H.B. Fuller Company, Pidilite Industries Limited, Eastman Chemical Company, Sika AG, TOAGOSEI CO., LTD, Avery Dennison Corporation, Huntsman International LLC, 3M, Tonsan Adhesive, Inc, Permabond LLC, Henkel AG & Co. KGaA, and Bostik are major players of the Global Acrylic Adhesives Market.
Market Scope:
Global Acrylic Adhesives Market is set to touch a value of USD 13.4 billion by 2025. It can exhibit a CAGR of 6.2% over the forecast period to expand its size gradually. Massive demand for adhesives in industries of electronics, construction, paper & pulp, and automotive & transportation is expected to drive market growth. The growth in the consumer electronics sector is supported by the consumption of smartphones, tablets, smart TVs and other items. Automation and miniaturization of components can trigger the need for adhesives in fast-paced lifestyles.
Building, furniture, and paper & packaging sectors are expanding due to the migration of the large share of the population to urban areas. Policies enforced in the food sector by regulatory agencies such as the U.S. FDA for creating a food barrier between foods and packaging materials may lead to a spike in demand for Acrylic Adhesives. But raw material prices for the production of these adhesive may hamper market expansion prospects. Continuous innovation and investments in research and development for their application in medical and electronics sectors can bode well for the market.
Segmentation:
Global Acrylic Adhesives Market has been segmented based on Type, Technology and Application.
Based on Type, Global Acrylic Adhesives Market is segmented into methacrylic adhesives, acrylic polymer emulsion, cyanoacrylic adhesives and UV curable acrylic adhesives. Cyanoacrylic adhesives are segmented into methyl cyanoacrylate, ethyl cyanoacrylate, and other cyanoacrylates. Similarly, acrylic polymer emulsions are segmented into vinyl acrylic, pure acrylics, and styrene acrylic.
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Based on Technology, Global Acrylic Adhesives Market has been divided water-based, solvent-based, reactive, and others.
By Application, Global Acrylic Adhesives Market is segmented into construction, electrical & electronics, paper & packaging, automotive & transportation, woodworking, transportation, consumer goods, medical devices, and others.
Regional Analysis:
Global Acrylic Adhesives Market has been studied across five key regions, namely Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA).
North America accounted for the largest share in 2018 due to presence of major companies spanning the industries of paper & packaging, medical devices, and consumer goods. It can display a steady growth rate during the assessment period owing to investments in R&D and matured state of end-use sectors. The U.S. is one of the biggest revenue generators and can continue to bolster the market demand in the coming years.
APAC is expected to exhibit the fastest growth rate during the forecast period owing to industries of packaging, construction, and automotive. High demand for Acrylic Adhesives in woodworking and furniture applications due to aesthetic appeal of end products can bode well for market demand. China, Japan, South Korea, and India are major contributors of the market.
Europe can continue to hold a significant share of the market till 2025. This can be credited to strict regulations concerning the toxic levels of solvent-based acrylic adhesives. Germany, Switzerland, France, and Italy are major countries driving the demand for Acrylic Adhesives in the global market.
Market Overview:
Acrylic Adhesives are adhesives manufactured using acrylate and methacrylate monomers as the basic feedstock. They are utilized by various end-use industries owing to their durability and strength. Properties by these adhesives include superior resistance to UV, adhesion to numerous substrates, and high-temperature resistance. Global Acrylic Adhesives Market Report by Market Research Future (MRFR) contains the latest drivers, challenges, and opportunities for market leaders for the period of 2019 to 2025 (forecast period).
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