Growing demand for water based adhesives, owing to their durability, economic feasibility and flexibility coupled with increasing demand for lightweight and low carbon emitting vehicles to boost global water based adhesive market through 2024
According to TechSci Research report, “Global Water based Adhesive Market By Resin Type, By Application, By Region, Competition, Forecast & Opportunities, 2024”, global water based adhesive market is anticipated to grow at a CAGR of 5.6% during the forecast period of 2019-2024. Growing demand for lightweight and low carbon emitting vehicles, in addition to large-scale investments in emerging economies of the Asia-Pacific region, is expected to fuel global water based adhesive market. However, various solvent-less and hot melt adhesives, as they offer low VOC emissions, have a broad range of applications and provide superior results in joining materials. These adhesives are usually priced higher than water based adhesives.
Water based adhesives are typically formulated from either natural polymers or synthetic polymers. These are supplied either pre-mixed or as a dry/jelly format in which the end user would add water to control the viscosity of the adhesive. Global water based adhesive market has been categorized into resin type, application and region. Based on resin type, the acrylic polymer emulsion segment is anticipated to account for the largest market share during the forecast period, owing to their extensive use in the bond backing material in the automotive industry as it helps to diminish vibrations in the vehicle body panels. Notably, Acrylic polymer is a water-based emulsion used to manufacture eco-friendly adhesives that provide a suitable balance between tack, shear and peel strength of the bond.
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Furthermore, based on application, the tapes & labels is expected to be the largest application sub-segment of the water-based adhesive market during the forecast period. Markedly, the water-based adhesives are extensively used in numerous applications such as medium & heavy-duty carton sealing, general purpose repair, gift wrapping & decoration, bundling & strapping, among others. Moreover, adhesive tapes & labels are particularly utilized in the packaging of electrical and electronic devices, hygiene and medical packaging, packaging of drug delivery system, packaging of construction materials through transit, packaging related to logistics and automotive, and packaging of consumer and industrial goods. These factors are driving the packaging adhesive tapes & labels market, which, in turn, are driving the demand for water-based adhesives. Asia Pacific water based adhesive market is anticipated to witness the highest CAGR during the forecast period, owing to the industrial development and improving economic conditions in the Asian countries.
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“Water based adhesives have numerous opportunities in both construction and automotive applications. Continuous research & development in the enhancement of mechanical and chemical properties of water based adhesives can open innumerable new applications over coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Water based Adhesive Market By Resin Type, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global water based adhesive market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global water based adhesive market.
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