Austin, Oct. 24, 2024 (GLOBE NEWSWIRE) -- What is the growth of the Acrylic Adhesives market?
According to SNS Insider, The Acrylic Adhesives Market Size was valued at USD 14.4 billion in 2023 and is expected to reach USD 24.1 billion by 2032 and grow at a CAGR of 6.0% over the forecast period 2024-2032.
Increasing food sector usage of acrylic adhesives, increasing interest in consumption of proteins & nutricosmetics, increasing applications of biomaterials in healthcare, and increased usage of acrylic adhesives-based biomaterials are the few major drivers that will drive the growth of the global acrylic adhesives market.
The acrylic adhesives market is experiencing significant growth due to rising demand in the packaging and construction industries. Innovations such as Henkel's new pressure-sensitive adhesives, showcased in August 2024, highlight the need for durable bonding solutions. Similarly, Trinseo launched an adhesive for dry lamination of flexible packaging in July 2024, underscoring the versatility of acrylic adhesives in modern manufacturing. These advancements cater to the growing flexible packaging market, driven by e-commerce and consumer convenience. Additionally, the market is shifting toward sustainable practices, with manufacturers focusing on eco-friendly formulations to meet regulatory standards. Overall, the acrylic adhesives market is well-positioned for continued expansion, emphasizing technological advancements and sustainability to adapt to evolving industry needs and consumer preferences.
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Top 10 Companies Operating in the Acrylic Adhesives Industry Worldwide
- 3M
- Henkel AG & Co. KGaA
- Sika AG
- BASF SE
- DuPont
- Huntsman Corporation
- Arkema SA
- Avery Dennison Corporation
- H.B. Fuller Company
- Eastman Chemical Company
Which segment dominated the Acrylic Adhesives Market?
In 2023, the Water-Based technology segment dominated and had the highest market share of about 50%. That is because water-based acrylic adhesives are highly demanded since they have low emissions of volatile organic compounds and environmental advantages. They are used majorly in the construction and packaging industries, in which it is beneficial to the environment and adhere to strict regulations concerning minimal chemical emissions from adhesives. For example, in construction, water-based adhesives fit well with the adhesion of materials like wood and textiles without any harmful solvent provided by other adhesives. The increasing demand for eco-friendly and sustainable adhesive solutions worldwide has remarkably spurred the adoption of water-based technologies.
Key Segments:
By Type
- Acrylic Polymer Emulsion
- Methacrylic
- Cyanoacrylic
- UV Curable Acrylic
By Technology
- Solvent-Based
- Water-Based
- Reactive
- Others
By Application
- Paper & Packaging
- Medical
- Construction
- Transportation
- Woodworking
- Consumer
- Electronics
- Others
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What are the driving factors of the Acrylic Adhesives market?
The Acrylic Adhesives market is witnessing robust growth, primarily due to the following driving factors:
- The increasing use of Acrylic Adhesives in medical devices and applications such as wound dressings is a significant driver. The push for innovative medical solutions and patient safety further enhances the need for reliable adhesive materials, fostering market growth.
- As regulations on environmental safety tighten, there is a growing preference for eco-friendly adhesives. Acrylic adhesives are generally solvent-free, making them a suitable alternative to traditional adhesives, which often contain harmful chemicals. This shift towards sustainable products is fueling their adoption across various industries.
- The versatility of Acrylic Adhesives in numerous applications, including packaging, construction, and electronics, is a key driver. Their strong bonding capabilities and adaptability to various substrates enable their use in diverse sectors, contributing to market expansion.
What are the opportunities in the Acrylic Adhesives market?
- Expansion in Nutricosmetics
- There is an opportunity for companies to innovate and develop specialized Acrylic Adhesives tailored for specific applications, such as high-performance adhesives for aerospace or automotive industries. This innovation could open new revenue streams and enhance market presence.
- The growth of emerging economies presents significant opportunities for the Acrylic Adhesives market. As industrialization increases in these regions, there will be a higher demand for efficient and effective adhesive solutions, making it a lucrative market for stakeholders.
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Which region dominated the Acrylic Adhesives market?
In 2023, Europe dominated the acrylic adhesives market, with a market share of 40%. The European region, which includes Germany, France, the UK, Italy, Spain, and the Rest of Europe, has shown rising awareness among consumers about the health benefits of acrylic adhesives, leading to the formation of the Acrylic Adhesives supplements industry. The region has witnessed many Acrylic Adhesives-infused drinks, such as cappuccino acrylic adhesives and soy acrylic adhesives, launched by manufacturers. These products are often marketed as components of protein blends or in combination with fruits. The rising usage of acrylic adhesives in various food items and beverages, along with shifting consumer preferences, accelerates market growth. Moreover, the increasing use of acrylic adhesives by biomedical industries in developed countries of Europe is further fueling the market's expansion.
Recent Developments:
- November 2023: Henkel introduced the first and only medical-grade light-cure adhesive that's specifically designed for use in body-worn devices. IBOA and other skin-sensitizing monomers-free, product conforms to the EU MDR 2017 requirements on the use of CMR substances in the production of medical devices.
The acrylic adhesives market is anticipated to have significant growth, driven by increasing demand across multiple sectors, particularly in healthcare and packaging. The shift toward sustainability and innovation in adhesive technology further enhances the market's potential.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Acrylic Adhesives Market Segmentation, by Type
8. Acrylic Adhesives Market Segmentation, by Technology
9. Acrylic Adhesives Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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