Acrylic Adhesives Market Outlook 2031:
The global acrylic adhesives market size was valued at USD 11.72 Billion in 2022 and is projected to reach USD 19.47 Billion by 2031, expanding at a CAGR of 5.9% during the forecast period 2023 - 2031. The growth of the market is attributed to environmental resistance property creating a high demand in the construction industry.
Acrylic adhesives are produced with acrylic as the primary component. Acrylic may be used as the foundation material in pressure-sensitive adhesives because it is appropriate for a broad range of materials and has important qualities including excellent resistance to shear, UV radiation, moisture, solvents, chemicals, and high temperatures.
Acrylic adhesives are one of the most powerful adhesives currently available this is due to part of two major factors that is cohesion and adhesion. Adhesion is the capacity of an adhesive to bond to other surfaces, while cohesion is the ability of an adhesive to stick to itself.
Acrylic adhesives offer some of the strong cohesion and adhesion. However, acrylic adhesives have a high viscosity, which means they take long time to set and have a high melting temperature.
The Covid-19 pandemic affected the demand and supply of global acrylic adhesives market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Acrylic Adhesives Market Trends, Drivers, Restraints, and Opportunities
- Increased demand for durable adhesive products and improved quality of adhesives are anticipated to drive market during the forecast period.
- Rising acceptability and easy availability in applications such as paper & packaging and construction sectors are major factors propelling the market in the coming years.
- Rapid growth of the construction industry is the main factor propelling the market during the forecast period.
- One of the major stumbling obstacles is tight volatile organic compound (VOC) restrictions in North America and Europe which is expected to hamper the market expansion.
- Rising adoption of bio-based products is anticipated to create significant opportunities for the market players.
Scope of the Acrylic Adhesives Market Report
The report on the global 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 - Global 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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End-user Industries (Building & Construction, Sporting Goods, Transportation, Woodworking, Appliances, Packaging, Electrical & Electronics, and Others), Technologies (Solvent-based, Water-based, Reactive, and Other)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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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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Arkema (Bostik); ITW; 3M; Henkel AG & Co. KGaA; MAPEI Inc.
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Acrylic Adhesives Market Segment Insights
The packaging segment is projected to represent a key market share
Based on end-user industries, the acrylic adhesives market is divided into building & construction, sporting goods, transportation, woodworking, appliances, packaging, electrical & electronics, and others.
The packaging segment is expected to represent a key share of the market in the coming years owing to rising demand for acrylic adhesives in packing applications such as cartons’ side joins & closures, bags, cigarettes & filters, composite containers & tubes, disposables, envelopes, flexible packaging, specialty packaging, and crenelated boards.
The water-based segment is estimated to expand at a rapid pace
Based on technologies, the acrylic adhesives market is divided into solvent-based, water-based, reactive, and others. The water-based segment is expected to represent a key share of the market in the coming years owing to eco-friendly and low-toxic nature, high solid content, and strong initial adhesion qualities lead to a rise in demand.
Asia Pacific is expected to dominate the market
On the basis of regions, the acrylic adhesives market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to dominate the market during the forecast period.
The regional market growth can be attributed to rapid economic growth, availability of low-cost labor, expansion of manufacturing industries, and rising end users.
Moreover, in Asia pacific countries such as India, China, Thailand, and Singapore are witnessing growing interest from international investors in the construction space all such positive market trends in the region are expected to drive the acrylic adhesives market.
Segments
The global acrylic adhesives market has been segmented on the basis of
End-user Industries
- Building & Construction
- Sporting Goods
- Transportation
- Woodworking
- Appliances
- Packaging
- Electrical & Electronics
- Others
Technologies
- Solvent-based
- Water-based
- Reactive
- Other
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the acrylic adhesives market are Arkema (Bostik); ITW; 3M; Henkel AG & Co. KGaA; MAPEI In.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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