BEIJING, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The Global Acrylic Adhesives Market Size accounted for USD 11.1 Billion in 2022 and is estimated to achieve a market size of USD 19.3 Billion by 2032 growing at a CAGR of 5.9% from 2023 to 2032.
The Acrylic Adhesives Market is revolutionizing the adhesive industry, introducing groundbreaking and efficient solutions. What are acrylic adhesives? These are adhesives primarily made from acrylate and methacrylate monomers, known for their strong bond strength, rapid curing time, and resistance to acids and solvents. The global acrylic adhesives market was valued at USD 11.1 Billion in 2022 and is projected to reach USD 19.3 Billion by 2032. The market's growth is intricately linked to various industries, including automotive, construction, packaging, and more. The rising demand for lightweight, high-performance adhesives and the increasing adoption in the medical and electronic sectors are driving this market's expansion. However, challenges such as high raw material costs and stringent government regulations might pose threats to its growth.
Key Points and Statistics on the Acrylic Adhesives Market:
- The Global Acrylic Adhesives Market is projected to reach USD 19.3 Billion by 2032, growing at a CAGR of 5.9% from 2023 to 2032.
- The Asia-Pacific region dominated the market in 2022, holding over 41% of the market share.
- The paper and packaging segment accounted for over 22% of the market share in 2022.
- Leading players in the market include AVERY DENNISON CORPORATION, 3M Corporation, H.B. Fuller Company, The Dow Chemical Company, Sika AG, Eastman Chemical Company,
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Acrylic Adhesives Market Coverage:
| Market | Acrylic Adhesives Market | |
| Acrylic Adhesives Market Size 2022 | USD 11.1 Billion | |
| Acrylic Adhesives Market Forecast 2032 | USD 19.3 Billion | |
| Acrylic Adhesives Market CAGR During 2023 - 2032 | 5.9% | |
| Analysis Period | 2020 - 2032 | |
| Base Year | 2022 | |
| Forecast Data | 2023 - 2032 | |
| Segments Covered | By Technology, By Type, By Application, And By Geography | |
| Acrylic Adhesives Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | 3M Corporation, The Dow Chemical Company, AVERY DENNISON CORPORATION, Pidilite Industries Ltd., H.B. Fuller Company, Huntsman International LLC, Henkel AG & Co. KGaA, Eastman Chemical Company, Sika AG, and Bayer Corporation. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Acrylic Adhesives Market Overview and Analysis:
Acrylic adhesives, while specialized, are transforming industries from construction to electronics. As industries increasingly adopt acrylic adhesive technology, the market potential continues to grow, aiming for enhanced product quality and operational efficiency. The market is innovating continuously, improving the efficiency, safety, and versatility of acrylic adhesives. However, growth may face challenges such as fluctuating raw material costs and regulatory restrictions.
Latest Acrylic Adhesives Market Trends and Innovations:
Technological advancements are leading to more efficient adhesive solutions. The increasing demand, especially in polymers and plastics, is fostering the market's growth. The use of acrylic adhesives in binding surfaces ensures efficient work on contaminated surfaces without compromising aesthetics. The rapid growth in the global automotive industry is also anticipated to fuel the demand for acrylic adhesives.
Major Growth Drivers of the Acrylic Adhesives Market:
- Rising demand in various end-use industries for lightweight and high-performance adhesives.
- Growing adoption in the packaging industry for food and beverages.
- Increasing use in the medical and electronic sectors.
Key Challenges Facing the Acrylic Adhesives Industry:
High cost of raw materials: The cost of raw materials, such as acrylic monomers, has been increasing in recent years. This has led to higher prices for acrylic adhesives, which has made them less competitive in some markets.
Stringent government regulations: Governments around the world are increasingly regulating the use of adhesives. This has led to increased costs for manufacturers, as they need to comply with new regulations.
Competition from other adhesives: Acrylic adhesives face competition from other types of adhesives, such as polyurethane adhesives and epoxy adhesives. These adhesives offer some advantages over acrylic adhesives, such as greater strength or resistance to chemicals.
Technological advances: Technological advances are constantly being made in the adhesives industry. This can lead to new types of adhesives that are more effective or less expensive than acrylic adhesives.
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Market Segmentation Insights:
Based on Technology:
- Water-based
- Reactive
- Solvent-based
- Other
Based on Type:
- Cyanoacrylic
- Acrylic polymer emulsion
- Methacrylic.
- UV curable acrylic
Based on Application:
- Paper & Packaging
- Construction
- Transportation
- Consumer
- Medical
- Electronics
- Woodworking
- Other
Overview by Region of the Acrylic Adhesives Market:
The Asia-Pacific region is currently the largest market for acrylic adhesives, due to the rapid growth in construction in countries like China and India. The increasing urbanization and population growth in these countries is leading to a higher demand for construction materials, including acrylic adhesives. Acrylic adhesives are used in a variety of construction applications, including bonding glass, metal, and wood. They are also used in the manufacture of furniture, flooring, and other building materials. The demand for acrylic adhesives is expected to continue to grow in the Asia-Pacific region in the coming years, driven by the continued growth in construction.
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List of Key Players in the Global Market:
The key players in the market include Huntsman International LLC, Pidilite Industries Ltd., AVERY DENNISON CORPORATION, 3M Corporation, H.B. Fuller Company, The Dow Chemical Company, Sika AG, Eastman Chemical Company, Henkel AG & Co. KGaA and Bayer Corporation.
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