The Asia-Pacific acrylic adhesives market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6.79% during 2023–2031. The growth of the market is attributed to growing demand from end-user industries, such as woodworking, construction and packaging.
Acrylic adhesives are resin-based adhesives that are created from methylacrylic or acrylic polymers. These adhesives are frequently utilised to bond several materials such as wood, ceramics, plastics, metals, glass, rubber, and others.
Furthermore, they are generally found as syrupy liquids, which are either slightly colored or colorless. These are procured from solutions of polyacrylates or monomeric esters with the help of a catalyst. Additionally, the strength of these adhesives depends on several vital parameters such as adhesion and cohesion.
For instance, cohesion parameter is utilized in checking the ability of the adhesive to stick to itself whereas the adhesion is utilized for measuring the ability of the adhesive to stick to another object. There are various types of acrylic adhesives available in the market; namely, acrylic polymer emulsion, cyanoacrylic, and others.
Moreover, these adhesives reveal properties such as excellent environmental resistance, quick bonding with different materials and fast-setting times when compared to other resin systems.
The Covid-19 pandemic had an unpleasant impact on the acrylic adhesives market. The demand from the end-user industry has been on halt and both the production and supply ware affected; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
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Factors such as per capita income and consumption patterns of the masses are significantly increasing the consumption of fast-moving consumer goods in these markets which is projected to boost the market growth of acrylic adhesives market during the forecast period.
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Online food deliveries, Growing e-commerce, and innovation and development in the packaging industry are driving the demand for packaging materials in the region; thereby, expanding the acrylic adhesives market.
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Rising demand for ready-to-eat and processed meals have increased significantly, due to convenience offered by such products to the consumers increasing which is likely to spur the market growth of acrylic adhesives market.
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The stringent VOC emission regulations related to acrylic adhesives disposal and substitution from different feedstock are estimated to impede the market growth.
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R&D investment and technological advancement in Asia-Pacific acrylic adhesives market are expected to offer lucrative opportunities for the market players.
Scope of Asia Pacific Acrylic Adhesives Market Report
The report on the Asia-Pacific acrylic adhesives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Acrylic Adhesives Market - Asia-Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technology (Water-based, Solvent-based, Reactive, and Other Technologies), End-user Industry (Packaging, Building and Construction, Transportation, Electrical and Electronics, Sporting Goods, Woodworking, and Other End-user Industries)
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Regional Scope
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China, India, Japan, South Korea, ASEAN Countries, Australia & New Zealand, and Rest of Asia-Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M, Arkema Group, H.B. Fuller, Henkel AG & Co. KGaA and Sika AG
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Asia Pacific Acrylic Adhesives Market Segment insights
The water-based segment is projected to constitute a large market share
Based on technology, the Asia-Pacific acrylic adhesives market is segregated into water-based, solvent-based, reactive, and others. The water-based segment is expected to account for a key share of the market during the forecast period owing to rising consumer awareness about the ill-effects of solvent-based adhesives on environment and human health.
Packaging segment is expected to register a substantial CAGR
Based on end-user industry, the Asia-Pacific acrylic adhesives market is divided into packaging, building and construction, transportation, electrical and electronics, sporting goods, woodworking, and others.
The packaging segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to its applications in manufacturing of several products, such as cases, labels, tapes, and cartons.
However, building and construction segment is anticipated to expand at a rapid pace during the forecast period due to significant increase in government investment on large-scale infrastructure projects in order to ensure steady growth of the economy.
Asia Pacific is expected to dominate the market
In terms of countries, the market is broadly classified as China, India, Japan, South Korea, ASEAN Countries, Australia & New Zealand, and Rest of Asia-Pacific. China is anticipated to expand at a robust CAGR during the forecast period.
Growing construction activities and increasing demand from packaging industry are anticipated to boost the market growth over the coming years. Furthermore, rising population and growth of e-commerce industry in this country are projected to offer lucrative opportunities in near future.
Segments
The Asia-Pacific acrylic adhesives market has been segmented on the basis of:-
Technology
- Water-based
- Solvent-based
- Reactive
- Other Technologies
End-user Industry
- Packaging
- Building and Construction
- Transportation
- Electrical and Electronics
- Sporting Goods
- Woodworking
- Other End-user Industries
Geography
- China
- India
- Japan
- South Korea
- ASEAN Countries
- Australia & New Zealand
- Rest of Asia-Pacific
Key Companies
- 3M
- Arkema Group
- H.B. Fuller
- Henkel AG & Co. KGaA
- Sika AG
Competitive Landscape
Key players competing in the Asia-Pacific acrylic adhesives market include 3M, Arkema Group, H.B. Fuller, Henkel AG & Co. KGaA and Sika AG
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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