What Is The Year-On-Year Growth Of The Water-Based Adhesives Industry?
Water-based adhesives mainly used to bond dissimilar substrates in various application such as paper & packaging, tapes & labels, woodworking, building & construction, and automotive & transportation. Demand for water-based adhesives is expected to gain traction owing to its significant properties such as flexibility, low cost, quick set, and strong bonds the demand for the water-based adhesive market is anticipated to dominate the water-based adhesive market during the forecast period.
The global water-based adhesives market was valued at USD 15.08 Billion in 2018 and is expected to reach USD 23.35 Billion by the year 2026, at a CAGR of 5.6%, Says Reports And Data. Water-based adhesive market is expected to witness for significant growth during the forecast period owing to its useful application in several end-use industries. Additionally, A rise in environmental and safety issues has further enhanced the growth of the market as the water-based adhesive is low in VOC.
A wide range of key end-users earned by the global water-based adhesive market such as those operating in the construction, automotive, and packaging segments are expected to augment the measure of demand during the coming forecast year. Furthermore, a global water-based adhesive market expected impressive growth while riding on various advantages offered by the products, including zero-emission, improved heat resistance, and no residual order.
Water-based adhesives are derived from natural polymers and are expected to find broader applications in several end-use industries. For instance, water-based adhesive derived from an animal is an ultimate choice for a quick set application while bookbinding could mainly employ water-based adhesive prepared from starch-based vegetables. Since the water-based adhesive is free of solvent, it could be safe for use in closed areas with not much ventilation. Applications such as bottle labeling, coating, and paper lamination mostly make use of water-based adhesive.
Based on the geographical perspective, the water-based adhesive market is expected to dominate by Asia Pacific region owing to significant growth in end-use industries such as paints & coatings, packaging, and automotive industries in emerging countries such as China and India. Globally, water-based adhesive manufacturers are planning for new strategies and developments. Such as most of the key players are planning to acquire raw material manufacturers or to set up their manufacturing unit near to industrial zone to lower down the product cost and transportation. Whereas, small players are planning to introduced new applications of water-based resins in their product portfolio tom sustain in the market. Additionally, key players have substantial incremental $ opportunity to gain maximum market value and volume share from the market by introducing innovative products at low prices.
Top Key participants:
Henkel AG & Company, KGaA, Arkema, Sika AG, H.B. Fuller Company, DowDupont, 3M, DIC Corporation, Ashland Inc., Akzo Nobel N.V., and PPG Industries, Inc. and among others.
Further key findings from the report suggest
- Water-based adhesives market is growing at a CAGR of 6.3 %in Asia Pacific followed by North America and Europe, with 5.4 % and 5.1 % CAGR, respectively. High water-based adhesives demand across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, PAE segment is the dominating of water-based adhesives market, which holds 27.5% of the global market. The rising demand and new technologies have boosted the market of the water-based adhesives.
- VAE segment of the water-based adhesives market is expected to be the fastest-growing market segment during the forecast period 2019-2026 with a CAGR of 6.9%.
- Based on application, Tapes and tables segment of the water-based adhesives market was valued at USD 2.63 billion and is expected reach USD 4.44 billion by 2026 and also exhibit the highest CAGR of 6.7% in the forecasts period.
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