The global acrylic adhesives market size is expected to reach USD 9.65 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.3% during the forecast period. Increasing demand for high-quality premium adhesives from the construction and other end-use industries is projected to drive the market.
Today, adhesives are being widely used in the food and pharmaceutical industries. Pressure sensitive products are packed in custom-fit containers with internal foam cushioning to secure the package during transportation. In line with rising concerns among consumers and regulatory agencies, the packaging industry is putting efforts to reduce the environmental impact of its processes, which in turn is leading to growing usage of renewable bio-based raw materials.
There are several agencies working in the field of adhesives to ensure consumer safety upon application across diverse end-use industries. The Code of Federal Regulations and ISO standards, when implemented by a manufacturer, uses isolated manufacturing lines that are capable of processing active ingredients in formulating facility.
Adhesives and sealants are now replacements for majority of mechanical fasteners used in transportation, product-assembly, and construction industries. They are increasingly being implemented in the hygiene industry, which may create a challenge for the packaging market in the foreseeable future. Hot-metal adhesives are going to gain more importance as compared to water-based adhesives.
Further key findings from the report suggest:
- Asia Pacific is projected to stay one of the largest consumers of the product owing to increasing industrialization across China, Japan, Vietnam, and India
- A part of the requirements for acrylic adhesives in Asia Pacific & the Middle East are generated from the paper, packaging, woodworking and construction industries
- With rising disposable income of the populace in emerging economies coupled with expanding manufacturing facilities, the demand is poised to increase in the future
- The global acrylic adhesives demand was estimated at 3,864.4 kilotons in 2016 and is anticipated to rise at a CAGR of 5.2% till 2025
- Soaring demand for compounds free of volatile organic particles is leading to increase in consumption of water-based acrylic products across North America and Europe
- Stringent government regulations for environmental protection, laid down by the European Union and other developed economies, are likely to restrict the growth of the market
- Key industry participants include Bostik AG, DowDuPont, Henkel AG, 3M Company, Avery Dennison, and HB Fuller.