Market Overview

The acrylic adhesives market is expected to register a CAGR of less than 5%, during the forecast period. The major factors driving the growth of the market studied are the rapidly growing construction industry in the Asia-Pacific & the Middle Eastern regions, and increasing usage in the packaging industry. On the flipside, strict VOC regulations in North America and Europe serve as one of the major stumbling blocks in the growth of the market studied.

  • The water-based acrylic adhesives segment dominated the market. It is anticipated to grow during the forecast period, owing to its eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties.
  • the adoption of bio-based products may provide opportunities for the market studied, during the forecast period.
  • Asia-Pacific dominated the global market, with high growth in demand from the construction, transportation, furniture, and packaging industries.



Key Market Trends

Packaging Segment to Dominate the Market Demand

  • The packaging industry dominated the demand for acrylic adhesives, owing to their applications in the manufacture of various products, such as tapes, labels, cases, and cartons.
  • The Asia-Pacific region has been witnessing fastest growth in the global packaging industry, with countries, such as China and India, leading the market.
  • Factors, such as e-commerce, online food deliveries, and innovation and development in the packaging industry, have been driving the growth of the packaging industry in the region.
  • The packaging industry in North America and Europe is mature, and is has been witnessing moderate growth in the Middle East & African region. However, owing to the growth of the e-commerce business in these regions, the packaging industry is also witnessing growth in these regions, further driving the demand for raw materials, like adhesives and others.
  • Thus, such trends in the global packaging industry is expected to drive the demand for acrylic adhesives, during the forecast period.



Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share, in 2018. Factors, such as strong growth in construction activities, increasing packaging demand from the expanding e-commerce business platform, increasing output in the food and beverage industry, have been driving the demand for acrylic adhesives in the region.
  • Countries, such as China and India, lead the market demand for acrylic adhesives, due to high packaging requirements.
  • China and India hold the potential to grow at a faster rate in the e-commerce packaging market, as internet usage in these countries continue to expand at a tremendous rate. The demand for food and beverage products is also supporting the growth of the paper packaging and rigid packaging sectors in these countries, at a steady rate.
  • Moreover, the construction sector in these countries is expected to grow at a noticeable rate, owing to various planned projects planned for construction, during the forecast period.
  • Currently, there are several airport construction projects, either in the development or planning stage, in China. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities, over the next 10 years.
  • In India, the government’s target of investing USD 120.5 billion, for developing 27 industrial clusters, is expected to boost commercial construction in the country.
  • Additionally, construction is growing at a noticeable rate in countries, such as Indonesia, Thailand, and Singapore.
  • Hence, all such favorable market trends in the region are expected to drive the growth of the acrylic adhesives market, during the forecast period.



Competitive Landscape

The acrylic adhesives market is consolidated in nature, with few players accounting for a significant share of the market demand. Some of the major players in the market include Henkel AG & Co. KGaA, Arkema (Bostik), ITW, Mapei, and 3M, among others.

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