Acrylic Adhesives Market – Regional Analysis:
Geographically, Asia Pacific is leading the Global Acrylic Adhesives Market. China holds the major portion due to rapid urbanization coupled with growing demand for the product in the region. Increasing consumption of Acrylic Adhesives in packaging applications such as glass, aluminium cans, metal foils, high barrier plastics, and others has boosted the market demand in Japan, and India. North America has witnessed a significant growth in the market owing to rapid consumption of water-based products in end-use industries. A notable growth has been received by the European region due to implementation of strict rules and regulations to adopt eco-friendly products instead of solvent-based materials in major sectors. Additionally, the market is growing significantly in the Middle East & Africa and Latin America regions, due to rising manufacturers’ preference to adopt lightweight products in the major industries.
Acrylic Adhesives Market- Competitive Landscape:
The Acrylic Adhesives Market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Acrylic Adhesives Market is set to grow at a higher CAGR which is likely to attract many entrants to the market resulting into healthy competition in the future. Manufacturers operating in the Acrylic Adhesives Market are struggling to respond to an increase in demand for the product from automotive & transportation, paper & packaging, construction, and other sectors attributed to expanding production capacity and infrastructure development in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.
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Acrylic Adhesives Market – Market Overview:
The Global Acrylic Adhesives Market is growing with the instantaneous pace; mainly due to the increasing construction industries, automobile production, and changing lifestyles. According to a recent study report published by the Market Research Future, the global market of Acrylic Adhesives is booming and expected to gain prominence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
Globally, the market for Acrylic Adhesives is driven by the region Asia Pacific, owing to growing consumption of the product in various end-use industries such as automotive & transportation, paper & packaging, electrical & electronics, construction, and others. These materials are used to reduce stress concentrations and impart corrosion resistance, cost-effective nature, aesthetic appearance to the final product. Additionally, stringent rules and regulations set by the regulatory bodies to follow bio-compatible products is set to drive the market during the forecast period.
Increasing demand for the product in applications such as asphaltic tapes, rubber & butyl adhesive tapes, acrylic adhesive tapes, and others signifies the growth of construction industries. Moreover, growing consumption of product due to unique features offered by the product such as thermal, chemical along with UV resistance provide a boost to the Acrylic Adhesives Market growth.
On the other hand, extensive use of water-based products in major industries is projected to propel the market growth during the forecast period.
Acrylic Adhesives are used in various end-use industries such as automotive & transportation, paper & packaging, construction, electrical & electronics, and others. They are utilized to reduce the cost of buildings by developing an air-tight structure in the premises. The growing demand of these materials has prompted the manufacturers and investors to shift their focus from solvent-borne to water-based products in end-use applications. Additionally, the growing research & development activities and innovations of the product in the established companies have resulted into a remarkable growth in the market during the forecast period.
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