ID: MRFR/CnM/3158-HCR | February 2021 | Region: Global | 135 pages
The Acrylic Adhesives Market is estimated to witness a CAGR of 6.2 % and a value of USD 13.4 billion from 2025 to 2030 during the forecast period.
Acrylic adhesives are made with acrylic as the base material. It is suitable for a wide range of materials due to its properties like durability, greater stability, and versatility, fueling the demand for Market.
The rise in demand for acrylic adhesives in different end-use industries like paper and pulp, construction, electronics, automotive and transportation is due to its higher durability and strong adhesion to materials like metals, wood, and plastic. This factor is highly driving the Acrylic Adhesives Market Growth. Moreover, advancements such as miniaturization and automation in the electronic sector are accelerating the market. The UV Curable acrylic adhesives are mostly used in electronic circuits for protecting and maintaining electronic materials.
The increased rate of paper and packaging and building and furniture industries in major regions worldwide is boosting the Acrylic Adhesives Market Size. The product development and innovation, along with the research and development activities due to the higher investments from the end-users, are creating lucrative opportunities for the market players in the future.
Acrylic adhesives are used in end-use industries for their excellent durability and strength and their fast setting and curing ability. It is even resistant to acids and solvents.
During the COVID-19 pandemic, the Acrylic Adhesives Market halted industrial activities and operations due to the nationwide lockdowns. The supply of raw materials and other delivery processes was stopped, which led to revenue loss.
But in the further days of the pandemic, the Acrylic Adhesives Market received huge opportunities due to the rising demand of the packaging industry. When the regions went through a shutdown period, the packaging of essential items such as medicines, face masks, disinfectants, dairy products, food, sanitizers, and many others increased the market’s growth. The customers preferred the packed products rather than lost products such as fruits, vegetables. These factors have eventually driven the Acrylic Adhesives Market Value. The market’s growth consistency will continue in the coming years.
Chief Factors Existing In The Market
Cumulative Evaluation Of The Market
The Acrylic Adhesives Market will reach a strong CAGR and USD value during the valuation period. The market’s growth rate is highly propelled due to demands, growth influencing factors and measures. The player’s efforts and strategies are also helping the market to flourish at the global level. The growth limiting factors are hampering the Acrylic Adhesives Market, but it will successfully overcome these factors in the coming years. Even the pandemic’s loss will be recovered sooner. Hence, the current evaluation states that it will obtain a healthy growth rate by 2030.
The Acrylic Adhesives Market is segmented into type, technology, and application.
The market covers five prominent regions such as Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Among these, the North American market is witnessing the largest market share of Acrylic Adhesives Market Share in the past years due to the higher usage of acrylic adhesives in industrial vertical product applications such as in consumer goods, medical devices, and paper and packaging applications. Hence, the regional market will register a steady CAGR value in the valuation period. The US is the dominating country in the regional market due to the presence of chief players.
Asia-Pacific is considered the fastest-growing regional market due to the wide expanse of construction, automotive, and packaging industries in the region. The higher demand for durable acrylic adhesives in woodworking and consumer goods is also propelling the APAC regional market. China is the dominating country because it has a strong electronic base and wide usage of acrylic adhesives in truck and bus and gasket bonding.
The European region also holds a significant market share due to its strong automotive base. But the region will acquire moderate CAGR reports due to the stringent EU regulations based on the toxicity of solvent-based acrylic adhesives.
The Latin American market will attain a healthy CAGR due to the government initiatives taken in construction activities. The Middle East and African market will register significant CAGR due to the shift from the oil & gas business to inclination towards construction and automotive sectors.
Competitive Intensity Within The Industry
The competition between the industrial players is propelling the Acrylic Adhesives Market Trends. The strategies implemented by the players drive the market to function smoothly at the global level. The company’s growth, revenue, product improvements, featural changes and other necessary things are checked. The market’s progress is taken into consideration, and other planning is made to boost the global market growth. The market initiatives, global reports, facilities, production capacities, strengths and weaknesses, product launch, application dominance etc., are other important things that are concerned at the competitive level. Below are the top industrial players in the Acrylic Adhesives Market.
Recent Market Developments
The Acrylic Adhesives Market Analysis report overview showcases the growth drivers, challenges, opportunities, and constraints. The market overview details the demanding areas and growth measure other factors influencing its growth. The pandemic’s studied data displays its economic loss and further improvement. The segmentation details show the major segments and their role in contributing to the global market’s growth. The regional report overview the major regions and their regional market’s growth. The competitive analysis data was also briefly mentioned and discussed, along with the player’s activities. Therefore, the Acrylic Adhesives Market Outlook will witness a strong CAGR during the forecast period.
Key Industrial Segments
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Technology, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), Bostik (US), Sika AG (Switzerland), Eastman Chemical Company (US), 3M (US), Avery Dennison Corporation (US), Pidilite Industries Limited (India), Royal Adhesives & Sealants (US), Huntsman International LLC, TOAGOSEI CO., LTD (Japan), Permabond LLC (US), and Tonsan Adhesive, Inc (China).|
|Key Market Opportunities||Rising demand for miniaturization and automation in the electronic sector|
|Key Market Drivers||Growing demand for acrylic adhesives in diverse end-use industries|
Frequently Asked Questions (FAQ) :
The Acrylic Adhesives Market will attain a USD value of 13.4 billion during the forecast period.
The major regions covered by the Acrylic Adhesives Market are Asia-Pacific, Latin America, North America, Europe, and the Middle East & Africa
The sub-segment under the applications are paper and packaging, construction, woodworking, transportation, electrical & electronics, automotive and transportation, consumer goods, medical devices, and others.