Increased need for miniaturization and automation in the electronics sector is major factor driving growth of the acrylic adhesives market during the projected period. Furthermore, technical breakthroughs in the field of acrylic adhesives drive market expansion.
Covid-19 Impact & Market Status
COVID-19 has the potential to impact the global economy in three ways: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on enterprises and financial markets.
Covid-19 outbreak has been affecting multiple businesses and industries leading to interrupted travel, lockdown, social distancing and the like. These have restricted normal functioning of the businesses and resulted in supply chain anomalies, lack of business co-ordination across vendors and the like.
Packaging end user Segment is accounted for Highest Revenue during the Prediction Period
Packaging is a major end consumer of acrylic adhesives. Among the uses are cigarettes, bags and carton side seams, filters, and closures, composite containers and tubes, envelopes, disposables, flexible packaging, speciality packaging, and corrugated boards. This trend of packaging segment being dominated is expected to continue in the near future.
Asia-Pacific Region to Dominate the Market during the Predicted Period
The Asia Pacific region has the greatest market share in the worldwide acrylic adhesives market. The presence of significant players, increased investments in industrial expansion, and rising GDP of emerging nations such as China and India are enabling market growth in the area. Because of rigorous controls imposed by regional governments, the market in North America and Europe is likely to expand at a slower pace than in Asia Pacific. Growing industrialization and urbanisation in places such as Africa and Latin America are also expected to support worldwide market growth.
Acrylic adhesives are frequently used for a wide range of applications due to their numerous benefits over conventional adhesives. Acrylic adhesives, in addition to being strong structural adhesives, are also cost effective, which is predicted to increase their demand in the near future.
Acrylic adhesives are resin-based adhesives using methylacrylic polymers or acrylic as the main ingredients. Acrylic adhesives offer a variety of qualities, including effective bonding, resilience to sunlight and humidity, and durability under changing temperatures, among others.
Acrylic adhesives are utilized as liquids, pastes, and tapes. Acrylic adhesive tapes are widely utilized in automobile, clothing, furniture, stationery, packaging, and housewares. Acrylic adhesive paste is most typically used for metal, waterproofing wooden surfaces, and glass.
The global acrylic adhesives market is projected to be around USD 9.1 billion by 2027, at a CAGR of 6.4 % during the prediction period.
Liquid acrylic adhesives are frequently used for attaching two things in construction, upholstery, and ornamental goods. Adhesives are also being used in sectors such as medicines and food packaging. Furthermore, adhesives are progressively replacing fasteners used in building and assembly.
The need for flexible packaging is predicted to rise in some countries in the future years, which would boost the acrylic adhesives market due to its advantages over conventional packaging goods, such as effective biological and mechanical filtration.
Furthermore, research and development and increasing investment by leading players in the target industry are expected to propel the worldwide acrylic adhesives market forward throughout the forecast period. Increased end-use applications are another important aspect driving the target industry's growth.
However, several downsides of acrylic adhesives, such as lower shelf life, strong odor, and longer set times, may impede the expansion of the worldwide acrylic adhesives market. Furthermore, due to the strong odor of acrylic adhesives, there has been an increase in the number of occupational risks among employees, which may impede market growth during the projection period.
The global acrylic adhesives industry is very competitive and is anticipated to become even more so in the future years. However, the growing number of competitors is expected to boost overall market growth over the projection period.
Bostik, Huntsman International LLC, Henkel AG & Co KGaA, Sika AG, Avery Dennison CO, H B Fuller Company, Illinois Tool Works Inc, 3M, DowDuPont, and Pidilite Industries Ltd. are some of the key competitors operating in the global acrylic adhesives market.
Latest Innovations in the Global Acrylic Adhesives Market: a Snapshot
- In year 2021 bostik launches two new adhesive products with 50% and 75% renewable content in support of its ‘responsibly for hygiene’ commitment.
- In 2021, Bostik expands business in the US with the acquisition of Edge Adhesives Texas. Bostik expands its offerings in high performance adhesives in the United States with the planned acquisition of Edge Adhesives Texas, a complementary asset in hot-melt adhesives and pressure sensitive adhesive tapes for residential construction.
This market research study was created by compiling data from primary and secondary sources. Secondary research was conducted using a variety of sources, including (but not limited to) SEC filings, company websites, technical journals, paid data sources, financial reports, and other industry publications. In addition, to acquire first-hand data, the research methodologies perform comprehensive primary research with important industry players. Industry specialists then examine and validate the data.
Acrylic Adhesives Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 9.1 billion by|
|Growth Rate||CAGR of 6.4 % during 2021-2028|
|Segment Covered||Type, Technology, End use industry, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Bostik, Huntsman International LLC, Henkel AG & Co KGaA, Sika AG, Avery Dennison CO, H B Fuller Company, Illinois Tool Works Inc, 3M, DowDuPont, and Pidilite Industries Ltd.|
Key Segments of the Global Acrylic Adhesives Market
Type Overview, 2018-2028 (USD Billion)
- UV Curable Acrylic
- Acrylic Polymer Emulsion
Technology Overview, 2018-2028 (USD Billion)
End use industry Overview, 2018-2028 (USD Billion)
- Leather & Footwear
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa