Acrylic Adhesives are based on resin adhesives, which comprises of methylacrylic and Acrylic Polymers. These are predominantly manufactured from monomeric esters and polyacrylate solutions. They are also known as light curing material (LCM) and are widely utilized in the production sector due to its rapid curing time and strong bond strength. Moreover, they can withstand high temperature and resist solvent, humidity, and UV rays. With the reasons, they are widely used in numerous application such as paper & packaging, electrical & electronics, automotive & transportation, construction, and others.
Some of the prominent factors that positively influence the growth of Acrylic Adhesive Market are rising demand for household appliances, improving standard of living, and increasing consumption of acrylic adhesives in consumer goods. Furthermore, rising automotive production & sales and shifting manufacturers focus towards production of light weight and fuel-efficient vehicles are estimated to fuel the growth of the market over the assessment period 2017-2023. Furthermore, speedy growth in the construction sector is expected to propel the market growth over the assessment period. These are widely used in furniture application. Innovations in furniture & décor coupled with the rising demand for aesthetic furniture is predicted to fuel the demand for Acrylic Adhesive during the review period.
Competitive Analysis:
The major players operating in the Global Acrylic Adhesive Market include H.B. Fuller (U.S.), Henkel AG & Co. KGaA (Germany), Bostik S.A. (France), Sika AG (Switzerland), Eastman Chemical Company (U.S.), 3M (U.S.), AVERY DENNISON CORPORATION. (U.S.), Pidilite Industries Limited (India), Royal Adhesives & Sealants (U.S.), Huntsman International LLC. (U.S.), and others.
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Market Segmentation:
The Global Acrylic Adhesive Market is segmented based on Type, Technology, Application, and Region.
Based on Type, the market is categorized into Acrylic Polymer Emulsion, UV curable, cyanoacrylate, methyl methacrylate, and others. Among these, the Acrylic Polymer Emulsion Adhesive segment accounted for the largest share in 2016 and is expected to retain its dominance on account of their ease in availability and high adoption rate in application such as construction and paper & packaging.
Based on Technology, the market is categorized into water based, solvent based, and others. The water-based technology is predicted to be the largest technology segment, in terms of both value and volume due to rising concern regarding the harmful effect of solvent based product.
Based on Application, the market is segmented into automotive & transportation, paper & packaging, construction, electrical & electronics, and others. The application segment also includes medical, leather & footwear, furniture, signage, and consumer goods. The construction segment is expected to hold the largest market share on account of rising construction activities across the globe as well as increasing demand for Acrylic Adhesive in wide range of building material substrates such as fiberglass, insulation of pipes, installation of carpet tiles, and roofing membrane system.
Regional Analysis:
Asia Pacific is predicted to be the largest market for Acrylic Adhesive followed by North America and Europe due to increasing usage in end use industries such as paper & packaging, building & construction, automotive and others. Some of the prominent factors boosting the growth of Acrylic Adhesive Market in Asia Pacific region are inexpensive labor cost, low plant set up cost, high economic growth rate, and competitive manufacturing costs. The North American Acrylic Adhesive Market is expected to witness a substantial growth. The U.S. is expected to be the major contributor to market owing to the presence of stringent regulations and the major market players, which may govern the industry dynamics of acrylic adhesive during the review period. Europe is predicted to witness a steady growth over the assessment period owing to rising demand from paper & packaging industry. Moreover, industry growth in countries such as France, the UK, Spain, Germany, and Russia are estimated to contribute to the regional industrial growth.
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