The low VOC adhesives market will record a steady CAGR of 5% throughout the projected period, 2020-2030, according to Fact.MR’s new study.Hot-melt adhesives are foreseeing increased application in several packaging sectors, spurring demand in the global market.However, with dwindling demand from end-use sectors, the COVID-19 outbreak is having a negative influence on the global market.
“The packaging sector will be a key end user of the low VOC adhesives market. In addition to this, favourable grant from the FDA for the packaging of food & beverages will drive demand further.” says the Fact.MR report.
Low VOC Adhesives Market – Key Takeaways
- China and India to remain lucrative over the projected period owing to growing demand from nature such as Japan, China, and India.
- Polyvinyl acetate (PVA) is anticipated to be the leading segment by composition throughout the assessment period.
- Paper & packaging sector will lead the end-user sector and drive the overall market.
- Water-based adhesives technology segment will remain key beneficiary owing to their better efficiency, low content of VOCs, and flexibility in contrast to other adhesives.
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Low VOC Adhesives Market – Driving Factors
- Rising usage of low VOC adhesives in the paper & packaging, construction, consumer goods, and transportation sector will fuel demand in the foreseeable years.
- Favourable clearance from FDA to low VOC adhesives for packaging, is likely to positively impact the market growth.
- High investments in transportation sector to generate prospects in the global market.
Low VOC Adhesives Market – Constraints
- Volatile raw material costs might pose as a challenge to the market expansion.
- Strict government regulations favouring eco-friendly compounds to create a bottleneck for overall market growth.
Anticipated Market Impact by COVID-19 Outbreak
The low VOC adhesives market has been negatively impacted by the COVID-19 inflicted temporary closure of manufacturing units. Supply chains and transportation were also impacted owing to the pandemic, which increased the industry’s distresses. Absence of the workforce due to limited movement ensued in reduced production, hindering the global market. On the other hand, as the impacts of the outbreak begin to regress, the market is likely to recover its normal expansion trajectory soon.
Explore the global low VOC adhesives market with 92 figures, 57 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/5414/low-voc-adhesives-market
Competition Landscape
The low VOC adhesives market is moderately consolidated with a presence of some key players dominating a noteworthy percentage of the market, together with regional manufacturers. Players are investing in research & development to attain a competition edge over others as well as come up with innovative applications. Prominent market players identified in the market are Akzo Nobel N.V.,3M,H.B. Fuller Company, Ashland,LORD Corporation, Huntsman Corporation, SCIGRIP,Wacker Chemie,Franklin International,Pidilite Industries Ltd.,Permabond LLC., and ARDEX Group.
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More on the Report
The Fact.MR’s market research report provides in-depth insights into the low VOC adhesives market. The market is scrutinized based on technology (water-based, hot-melt, and reactive), composition (epoxy, polyurethane, polyvinyl acetate (PVA), ethylene vinyl acetate (EVA), polyacrylic ester (PAE), vinyl acetate ethylene (VAE), and others), and end user (building & construction, automotive & transportation, consumer goods, woodworking, packaging, and others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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