Global Solvent-Based Adhesives Market Size Is Set to Surpass USD 13.06 Billion by 2030 with Projected CAGR of 6.84% | Market Analysis and Forecast

Santa Monica, CA, June 19, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Solvent-Based Adhesives Market By End-User (Medical, Paper & Packaging, Building & Construction, Automotive, And Woodworking), By Chemistry (Chloroprene Rubber, Polyurethane, And Synthesized Rubber), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Solvent-Based Adhesives Market size & share in terms of revenue was valued at USD 7.79 billion in 2022 and it is expected to surpass around USD 13.06 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.84% during the forecast period 2023 to 2030.”

What is Solvent-Based Adhesives? How big is the Solvent-Based Adhesives Industry?

Report Overview:

The value of the global market for solvent-based adhesives was around 7.79 billion US dollars in 2022, and analysts forecast that it will increase to approximately 13.06 billion US dollars by 2030, expanding at a compound yearly growth rate (CAGR) of approximately 6.84% between 2023 and 2030.

The study examines the many factors that are driving and inhibiting the growth of the global solvent-based adhesives market, as well as the influence these factors will have on demand over the course of the forecast period. In addition to this, the research investigates new possibilities that are opening up in the business of solvent-based adhesives.

One kind of adhesives is known as solvent-based adhesives. When it comes to dissolving the adhesive components, this type makes use of solvents as a medium or carrier. It is made up of a conglomeration of resins, polymers, and additives that have been dissolved in organic solvents in various proportions. They perform the function of a carrier that transports the adhesive to the area that needs it. After the adhesive has been applied, the solvents will evaporate, leaving behind a strong bond between the surfaces that have been connected. A high initial bond and excellent adhesion to a broad variety of materials, including metals, plastics, rubber, wood, and composites, are two of the most notable characteristics of adhesives that are based on solvents. In addition to this, they can be formulated in a variety of ways, making them suitable for a wide range of uses and requirements. Acrylic-based, rubber-based, polyurethane-based, and epoxy-based adhesives are some of the most popular forms of solvent-based adhesives. Other prominent varieties are epoxy-based and polyurethane-based adhesives. The manufacture and distribution of these adhesives is the focus of the solvent-based adhesive sector, and during the period covered by the forecast, participants in this industry can anticipate a number of prospects for expansion.

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Global Solvent-Based Adhesives Market: Growth Dynamics

Powerful adhesion capabilities that will drive market expansion.

Due to the presence of highly adhesive qualities in such compounds, it is anticipated that the global market for solvent-based adhesives would expand in the coming years. They have an unrivalled ability to adhere to a diverse range of materials, making them a desirable product in a number of industries that are seeing rapid expansion, including the automotive, construction, packaging, and electronic device manufacturing sectors. These fields call for connections that are long-lasting and robust. In addition, there is a wide range of formulation options available for adhesives that are based on solvents. Because of this, they can be adapted to the particular demands and uses of a given situation. They have the ability to form bonds between a wide range of materials, from metals to woods, among others. It is anticipated that the industry stakeholders will come up against an increasing demand in the market as a result of the high growth rate being recorded by the end-user verticals. For instance, in the automobile industry, solvent-based adhesives are utilised throughout operations like interior-trim assembly, exterior body bonding, noise and vibration damping, glass installation, and structural bonding. These adhesives are also utilised in a variety of other applications.

Concerns about health and safety will prevent further market expansion.

Because long-term exposure to intense solvent-based adhesives can offer severe health-related dangers to workers as well as end-users, the global market for solvent-based adhesives is plagued by growing worries over health and safety issues. This is because the global market for solvent-based adhesives is plagued by growing concerns over health and safety considerations. Inhaling the substance or coming into touch with it via the skin can cause a variety of health problems, including respiratory disorders, skin irritation, and other problems. The rate of knowledge is increasing, and people's preferences are shifting towards substances that have lesser toxicity. This may cause the players in the sector to notice a certain loss of revenue.

The development of new technologies will open up a variety of options for expansion.

As a result of the numerous technical developments that have been made in the sector, the global market for solvent-based adhesives is anticipated to have certain growth prospects. The chemical industry has seen an increase in the amount of money invested in research and development in recent years, with the goal of enhancing the compound's durability, performance, and safety profile. The production of low-volatile organic compounds (VOCs) and ultra-low VOC solvent-based adhesives has seen a number of significant developments in recent years. The research programmes are aiming towards the goal of ensuring that these substances meet the regulatory criteria while addressing environmental concerns at the same time.

Increasing movement away from traditional methods of technology in order to compete with its expansion

It is possible that the global sales volume of the solvent-based adhesive sector will be constrained as a result of the ongoing transition towards alternative technologies such as hot-melt adhesives, water-based adhesives, and adhesives that do not require the use of solvents. These alternatives have a smaller impact on the environment and a better profile when it comes to sustainability. The increasing demand for environmentally friendly adhesives may present significant hurdles for producers, who may be forced to investigate the possibility of diversifying their product offerings.

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Report Scope

Solvent-Based Adhesives Market: Segmentation Analysis

The global solvent-based adhesives market is segmented based on end-user, chemistry, and region.

Based on end-user, the global market segments are medical, paper & packaging, building & construction, automotive, and woodworking. The industry registered the highest growth in the paper & packaging sector in 2022. Their application ranges from carton sealing, laminating, and labeling specialty packaging. Solvent-based adhesives can withstand challenging packaging environments and hence are extremely useful in the sector. The automotive sector is another significant contributor to the market where it is used extensively for multiple purposes. In the building & construction sector, solvent-based adhesives are used for applications including flooring installation, roofing, wall paneling, insulation bonding, and general construction purposes. The automotive sector of Europe is responsible for nearly 13.8 million jobs.

Based on chemistry, the global solvent-based adhesive market segments are chloroprene rubber, polyurethane, and synthesized rubber. The highest growth was observed in the polyurethane segment in 2022 since it offers an excellent balance of strength, flexibility, and durability. This makes it suitable for a wide range of applications. They exhibit excellent resistance to environmental and chemical factors and are used extensively in the construction and automotive industry. Chloroprene rubber-based solvent adhesives are also known as neoprene adhesives and offer high heat and weather resistance. Synthesized rubber-based solvent adhesives have more specific applications. The global adhesives market is dominated by China with its top 5 companies occupying nearly 14% of the global share.

The global Solvent-Based Adhesives market is segmented as follows:

By End-User

• Medical
• Paper & Packaging
• Building & Construction
• Automotive
• Woodworking

By Chemistry

• Chloroprene Rubber
• Polyurethane
• Synthesized Rubber

Browse the full “Solvent-Based Adhesives Market By End-User (Medical, Paper & Packaging, Building & Construction, Automotive, And Woodworking), By Chemistry (Chloroprene Rubber, Polyurethane, And Synthesized Rubber), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at- https://www.zionmarketresearch.com/report/solvent-based-adhesives-market-size

Competitive Landscape

Some of the main competitors dominating the global Solvent-Based Adhesives market include - 

• Henkel AG & Co. KGaA
• 3M Company
• H.B. Fuller Company
• Dow Inc.
• Arkema S.A.
• Sika AG
• Ashland Global Holdings Inc.
• Bostik SA
• Huntsman Corporation
• Avery Dennison Corporation
• LORD Corporation
• Permabond LLC
• Illinois Tool Works Inc.
• Jowat SE
• Franklin International
• RPM International Inc.
• Mapei S.p.A.
• ITW Polymers Sealants North America
• Pidilite Industries Limited
• Scigrip Adhesives
• Hexion Inc.
• Wacker Chemie AG
• Momentive Performance Materials Inc.
• MAPEI Corporation
• Toyo Polymer Co.Ltd.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Solvent-Based Adhesives market is likely to expand at a CAGR of around 6.84% during the forecast period (2023-2030).                  
• In terms of revenue, the Solvent-Based Adhesives market size was valued at around US$ 7.79 billion in 2022 and is projected to reach US$ 13.06 billion by 2030.
• The solvent-based adhesive market is projected to grow at a significant rate due to the strong adhesive properties.
• Based on end-user segmentation, paper & packaging were predicted to show maximum market share in the year 2022.
• Based on chemistry segmentation, polyurethane was the leading chemistry in 2022.
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Solvent-Based Adhesives industry?
• What are the main driving factors propelling the Solvent-Based Adhesives Market forward?
• What are the leading companies in the Solvent-Based Adhesives Industry?
• What segments does the Solvent-Based Adhesives Market cover?
• How can I receive a free copy of the Solvent-Based Adhesives Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-User, By Chemistry, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global solvent-based adhesives market is expected to witness the highest growth in Asia-Pacific led by countries such as China and India. Asia-Pacific is a leading producer and distributor of several adhesives including solvent-based. It is home to some of the largest companies operating in the chemical & materials sector and has continued to hold its dominance even during tough political and economic hardships. Apart from the revenue earned from large export values, the regional countries have wide-scale in-house applications of solvent-based adhesives. Factors such as rapid industrialization, infrastructure development, and automotive production in economies like India, China, South Korea, Japan, and other nations have contributed to regional growth. North America may grow at a steady CAGR led by an established manufacturing base and robust demand for adhesive products.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In August 2022, Brilliant Polymers, a Mumbai-based industry player and the country’s largest manufacturer of lamination adhesives used in flexible packaging, announced the expansion of its production facility located in Ambernath. The factory will double its production capacity with this move and reach 45,600 metric tons guided by a total investment of more than INR 100 crore
• In June 2020, Bostik, a leading manufacturer and seller of sealants and adhesives, launched the HERBERTS™ 700 product series. The products associated with this range will provide high-performance, flexible, and sustainable lamination solutions for medical, industrial, and food packaging markets of Asia-Pacific
• In September 2022, Covestro launched an innovative and sustainable adhesive solution during the 25th China adhesive and tape industry conference
• In May 2023, Brilliant Polymers announced the launch of a new range of products at the Interpack 2023 which was held at Dusseldorf. The lines include GLYMO-free high-performance solvent-based adhesive which is best suited for retort applications and Brilliant Max Cure, a fast-curing solvent-free adhesive.

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