$20+ Billion Water-based Adhesive Market by Resin Type, Application, and Region - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 29, 2018--The “Water-based Adhesive Market by Resin Type, Application, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The water-based adhesive market size is projected to grow from USD 15.3 billion in 2018 to USD 20.2 billion by 2023, at a CAGR of 5.7%.
The increasing demand from various applications such as tapes & labels, paper & packaging, woodworking, building & construction, automotive & transportation; and stringent government regulations in the chemical industry are expected to drive the water-based adhesive market. However, the fluctuating prices of raw materials might adversely affect the overall cost of production for water-based adhesive manufacturers.
The polyurethane dispersion segment is projected to register the highest CAGR in the water-based adhesive market during the forecast period.
The polyurethane dispersion segment of the market is projected to register the highest CAGR, in terms of volume and value, between 2018 and 2023. PUD is widely used for profile lamination in interior decoration due to its excellent resistance to solvent, high cohesive strength, good impact, and abrasion resistance.
The water-based adhesive market in the automotive & transportation application is projected to register the highest CAGR during the forecast period.
The market in the automotive & transportation application is projected to register the highest CAGR, in terms of volume and value, between 2018 and 2023, due to the stringent government regulations regarding indoor air quality in passenger vehicles and stringent automotive OEM standards. The increasing need to bond different lightweight materials without compromising on the bonding strength and reduction in CO2 emission are expected to drive the water-based adhesive market in this application during the forecast period.
The APAC water-based adhesive market is projected to register the highest CAGR during the forecast period.
APAC is the world’s fastest-growing water-based adhesive market, driven mainly by the booming economies such as China, India, and a few smaller ones, such as South Korea, Vietnam, Taiwan, and Indonesia. The region experiences high demand from the paper & packaging and woodworking applications.
The improving economic condition, focus on R&D projects to innovate products, and increasing demand from various application have fueled the demand for water-based adhesives in APAC. The region has a low cost of production, improved ability to serve the emerging local markets, and potential growth opportunities, therefore major manufacturers are focusing on this region to earn significant profits.
The report also discusses competitive strategies adopted by market players such as Henkel (Germany), H.B. Fuller (US), Arkema (Bostik) (France), and Sika (Switzerland), among others.
DriversGrowing Demand for Water-Based Adhesives Due to Their Flexibility, Durability, and Economic Feasibility Huge Investments in Emerging Economies of APAC Growing Demand for Lightweight and Low Carbon-Emitting Vehicles
RestraintsLack of Extended Storage Due to the Perishability of Water-Based Adhesives Fluctuating Raw Material Prices
OpportunitiesIncreasing Demand for Green and Sustainable Adhesives Innovations in Water-Based Adhesives
ChallengesStringent Regulatory Policies Competition From Solventless and Hot-Melt Adhesives
Company ProfilesHenkel H.B. Fuller Arkema (Bostik) Sika Dowdupont 3M Illinois Tool Works Ashland Mapei Pidilite Industries
Other Key CompaniesAkzo Nobel Ppg Industries Lord Corporation Scigrip Adhesives Ardex Permabond Paramelt Jowat Delo Industrial Adhesives Falcon Chemicals Franklin International Dymax Corporation The Reynolds Company Sealock Adhesives Kleiberit Beijing Comens New Materials Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/jg3dmp/20_billion?w=4
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Related Topics:Adhesives and Sealants
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
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PUB: 11/29/2018 11:21 AM/DISC: 11/29/2018 11:21 AM