Water-Based Adhesive Market Overview:
The Water-Based Adhesive Market has valued the growth from the USD of 15.3 billion in the year 2018, which is calculated to the USD of 20.2 billion by the year 2023 with a CAGR of the 5.7% during the forecast period.
The global water-based adhesives market is studied extensively in the latest research report from Market Research Future (MRFR). The global water-based adhesives market is given thorough attention by the report’s authors, who have performed a detailed analysis on the market’s historical figures in order to obtain relevant and reliable forecasts regarding the growth prospects of various components of the water-based adhesives market in the coming years. Major drivers and restraints affecting the global water-based adhesives market are also studied in the report,
Water-based adhesives have come to the fore in the global adhesives industry due to their environment-friendly composition, which has enabled a growing demand from the Water-Based Adhesives Market in various industries. Water-based adhesives are contrasted with solvent-based adhesives, which were based on synthetic chemicals that did not facilitate biodegradation when the adhesives were dumped. Instead, water-based adhesives are biodegradable and thus do not present an ecological threat to their site of dumping. Water-based adhesives can contain either natural or synthetic polymers that are soluble in water. The ecological viability of water-based adhesives, in contrast to solvent-based adhesives, is the major driver for the global water-based adhesives market.
The growing demand for environmentally viable adhesives from the packaging and construction industries is likely to be the best driver for the global water-based adhesives market over the forecast period. The packaging industry has grown at a rapid growth rate in recent years due to the growing demand from the ecommerce sector. The packaging industry has thus become crucial in the global economic pyramid, with ecommerce agencies relying on high-quality packaging products to deliver products safely to consumers. The growing volume of the ecommerce sector is likely to drive up the demand for environmentally viable packaging materials in the coming years, thus driving the global water-based adhesive market.
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CompetitiveAnalysis:
Leading players in the global water-based adhesives market include PPG Industries Inc., AkzoNobel NV, Ashland Inc., DIC Corporation, 3M, DowDuPont, HB Fuller Company, Sika AG, Arkema, and Henkel.
Major players in the global water-based adhesives market are likely to focus on product development in the coming years, as developing a wide array of water-based adhesive products for use in various industries is likely to remain an important tactic for leading players in the market.
Segmentation:
The global water-based adhesives market is segmented on the basis of resin type, application, and region.
By resin type, the global water-based adhesives market is segmented into polyvinyl acetate emulsion, acrylic polymer emulsion, vinyl acetate ethylene emulsion, styrene butadiene latex, polyurethane dispersion, vinyl acetate acrylates, and others. The polyvinyl acetate emulsion segment holds a dominant 33% share in the global water-based adhesives market, followed by the acrylic polymer emulsion and vinyl acetate ethylene emulsion segments.
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Regional Analysis:
Asia Pacific is likely to dominate the global water-based adhesive market over the forecast period. The growing volume of electric vehicle production in Asia Pacific is likely to be a key factor for the water-based adhesives market’s growth in the region in the coming years. As electric vehicles are sold on the USP of being environmentally viable, manufacturers nowadays also try to include other environment-friendly technologies and materials in electric vehicles to further enhance the “green creds” of the vehicle. The growing demand for electric vehicles in China as well as the growing government support to the manufacturing of electric vehicles in India are likely to be better drivers for the global water-based adhesive market over the forecast period.
The growing packaging industry in Asia Pacific is also likely to be a major driver for the water-based adhesives market over the forecast period. The growing usage of ecommerce channels in Asia Pacific has been a major driver for the packaging industry in the region.
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