Increasing use in aerospace, consumer goods, electrical, food packaging and construction industries.is projected to fuel the industry growth over the forecast period.
The global water-based adhesives market size is projected to reach nearly USD 18.7 billion in 2020. Water-based adhesive market size may see strong growth in the footwear sector because to its low VOC content, which makes it eco-friendly. Higher viscosity allows it to penetrate the substance, making it suited for porous materials. The growing awareness of environmental and health problems would drive up market demand for footwear applications. The shift in consumer demand for sportwear as a result of increased sports activity for health and fitness has boosted the growth of the water-based adhesive industry.
Metals are employed in a variety of sectors such as railroads, autos, aircraft, construction, healthcare, and military applications. Water-based adhesives are utilized for rubber-to-metal bonding because they minimize the toxicity and flammability issues associated with organic solvents and are less costly than other alternatives.
Due to industrialization and a rise in disposable income, the water-based adhesives market size in the construction sector is predicted to develop significantly throughout the forecast timeframe. It is used to cement tiles and fixtures to walls and ceilings, as well as to attach tiles and fittings to walls and ceilings. The global construction industry is expected to exceed USD 0.75 trillion by 2024 as a result of rising population and urbanization, as well as increased demand for green buildings. Increased spending on real estate investment and national infrastructure in China, together with projected fiscal relaxation in the United States, may support development in the water-based glue industry.
Water-based adhesive market size in North America, led by Canada and the United States, may increase as a result of government regulations promoting ecologically friendly goods and expanding building prospects.
Water-based adhesive market demand in Asia Pacific is predicted to expand significantly owing to industrialization in these rising nations, led by Japan, South Korea, India, and China. Increasing demand for ecologically friendly products, as well as the presence of prominent companies in packaging, construction, and electronics, are crucial drivers that will propel the region's water-based adhesive market.
The demand for water-based adhesives in Europe, driven by the United Kingdom, Germany, Spain, and France, is expected to expand due to increased demand in the construction, vehicle, and military sectors. The German construction sector is expected to develop rapidly as a result of increased public expenditure on bridges and highways, as well as increased private investment in structures. The growing urban population and the increasing number of immigrants have boosted market expansion even more. The increasing expansion of the furniture sector in the United Kingdom as a result of low-cost and high-quality furniture given to consumers may accelerate the expansion of the water-based adhesive market.
The global market for water-based adhesives is somewhat fragmented. DIC, Dow Corning, Evonik, Huber Group, Illinois Tool Works, 3M Company, LLC, and Franklin International are the major participants in this business. Major corporations are concentrating their efforts on the construction and automobile industries in order to diversify their product portfolios and grow their regional influence.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the global water-based adhesives industry. Furthermore, the water-based adhesives market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
Key Segments of the Global Water-based Adhesives Market
Resin Type Overview, 2018-2028 (USD Billion)
- PVA Emulsion
- VAE Emulsion
- SB Latex
Application Overview, 2018-2028 (USD Billion)
- Tapes & Labels
- Paper & Packaging
- Wood Working
- Building & Construction
- Automotive & Transportation
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America