The growth in market revenue for low VOC adhesives will be driven by increasing adoption for water-based adhesives due to excellent properties of low VOC adhesives like durability, flexibility, and economic feasibility.
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.
Water based Technology Segment is accounted for Highest Revenue during the Prediction Period
Water-based, hot-melt, and reactive adhesives are the three technological segments in the worldwide low VOC adhesives market. Over the projected period, the water-based adhesives segment is expected to dominate the market. This is because they are more flexible, have less VOCs, and are more efficient than conventional adhesives. Furthermore, water-based adhesives are constructed of soluble natural or synthetic polymers that seep into the substrate.
Paper & Packaging end use industry Segment is Likely to Register Highest Revenue during the Forecast Period
The Low VOC adhesive market's main end-use industrial sector is paper and packaging. Low VOC adhesives are used in a variety of applications in the paper and packaging end-use sector, including corrugated packaging, case and carton packaging, and flexible packaging. Biscuits, poultry items, medicinal products, and industrial products are all stored in case and carton boxes. The adhesive technique to be utilised for case and carton packing is determined by the production line.
Asia Pacific Region to Dominate the Market during the Predicted Period
Asia Pacific is expected to dominate the global market during the forecast period. One of the primary aspects contributing to the packaging segment's quick growth is the developing e-commerce platform and increased consumption as people's income levels rise. Emerging economies like India, China, and South Korea, as well as other Southeast Asian countries, are luring global manufacturers to set up shop in Asia Pacific.
These companies are striving to build a large client base in countries like China and India in order to meet the growing demand for adhesives from a variety of sectors. Government rules governing indoor air quality in passenger cars are becoming more demanding, and automotive OEM requirements are becoming more stringent, which is driving up regional demand in the transportation end-user business.
Over the projected period, the market for low VOC adhesives will develop due to rising demand from the construction and woodworking sectors, as well as rising need for lightweight and low carbon-emitting cars around the world. In the near future, market growth is likely to be boosted by increasing innovations and developments.
Low VOC is nothing but volatile organic compounds that are not dangerous to humans or the environment. Laminates, wood, metals, and particle boards are all bound with low-VOC adhesives. They're also used to hold lightweight materials, soft foams, and porous substrates together.
Low-VOC adhesives have a strong bond, making them excellent for bonding paper, cardboard, and a variety of other materials in applications including packing, labelling, palletizing, and case-sealing. Low-VOC adhesives are utilized in a variety of sectors and applications, such as product assembly, textiles and furniture and upholstery.
The global Low VOC Adhesives Market is projected to be around USD 69.8 billion by 2028, at a CAGR of 5% during the prediction period.
Paper & packaging, building & construction applications are predicted to account for a major portion of Low VOC Adhesives Market over the projection period. The expansion of sector, as well as research and developments in the low VOC adhesives market, are responsible for the rise in demand for low VOC adhesives.
Low VOC adhesives have strength and adhesion properties that are projected to increase demand for high-performance adhesives. Growing demand from the paper and packaging industries, as well as a shift in consumer preference for hot-melt adhesives, are propelling the low VOC adhesives market forward.
However, the worldwide low VOC adhesives industry is being hampered by poor conditions brought on by the COVID-19 epidemic.
The global Low VOC Adhesives Market 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.
3M, Ashland, Akzo Nobel N.V. H.B. Fuller Company, Permabond LLC, The Reynolds Company, Huntsman Corporation, Dymax Corporation, Wacker Chemie AG, PPG Industries, Inc. Pidilite Industries Ltd. Sika Services AG among others are some of the key competitors operating in the global Low VOC Adhesives Market.
Latest Innovations in the Global Low VOC Adhesives Market: a Snapshot
- Arkema has announced the opening of a new adhesives factory in Japan, allowing Bostik to better service Japanese clients in the rapidly increasing packaging, hygiene, labelling, and electronics industries.
- DriTac is a well-known brand in the US flooring sector, having a substantial presence in the wood floor bonding market. DriTac provides a wealth of long-standing customer and distributor contacts to Sika's current network across the country. Sika's development in the US interior finishing sector will be aided by this agreement.
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.
Low-VOC Adhesives Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 69.8 billion|
|Growth Rate||CAGR of 5% during 2021-2028|
|Segment Covered||Technology, Chemistry, End-use Industry, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||3M, Ashland, Akzo Nobel N.V. H.B. Fuller Company, Permabond LLC, The Reynolds Company, Huntsman Corporation, Dymax Corporation, Wacker Chemie AG, PPG Industries, Inc. Pidilite Industries Ltd. Sika Services AG among others|
Key Segments of the Global Low VOC Adhesives Market
Technology Overview, 2018-2028 (USD Billion)
- Water based
- Reactive and others
Chemistry Overview, 2018-2028 (USD Billion)
- PVA Emulsion
- PAE Emulsion
- VAE Emulsion
- EVA Emulsion
End-use Industry Overview, 2018-2028 (USD Billion)
- Paper & Packaging
- Building & Construction
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa