Global acrylic adhesives market is expected to grow due to its increasing demand from construction industry. Construction industry extensively uses acrylic adhesives for its good binding properties. Acrylic adhesives are resin based adhesives comprising of acrylic and methylacrylic polymers. Most acrylic adhesives are manufactured from monomeric esters and polyacrylate solutions. Acrylic adhesives also known as light curing materials (LCM) are widely used in the manufacturing sector on account of its rapid curing time and strong bond strength. Thus its efficient use in diverse industrial markets such as electronics, medical, aerospace, telecommunication, glass and optical is projected to complement the global market growth over the forecast period. Acrylic adhesives can withstand high temperature fluctuations and are resistant to sunlight, water and humidity. These potential properties are increasing its demand in various end-use industries such as automotive, furniture and packaging. Additionally, acrylic adhesives are largely preferred over traditional adhesives since they not only bind materials together but are also used to seal and coat products. Bio based acrylic adhesives development is expected to offer massive opportunities to industry participants over the forecast period.
On the basis of product type, the global acrylic adhesives market is segmented into temporary and permanent. Permanent acrylic adhesives are growing at a rapid rate on account of its high cohesion, viscosity and adhesion levels that can resist any kind of environmental condition. Furthermore, based on forms acrylic adhesives market can be classified into liquid, paste and tape. Liquid adhesives are the most common form as a result of its easy application with a brush or damp cloth. Increasing liquid adhesives demand in decorations, upholstery and carpentry is anticipated to be a key factor driving the global market growth over the forecast period. Acrylic adhesives in paste form are widely used in wood, glass, metal and waterproof items. Widespread adhesives tapes utility for clothing and other fabric related purposes is further anticipated to augment the global market growth over the foreseeable future. Major applications include metals, glass, plastics and ceramics. Increasing demand in plastics is expected to foster the global market growth owing to its increasing demand in thermoplastics.
Prolonged exposure to acrylic adhesives can cause several health hazards such as respiratory diseases. This can be a major factor restraining the global market growth over the forecast period. Longer than desired cure time along with relatively high brittleness are expected to hamper its global demand. Moreover stringent environmental regulations owing to severe environmental hazards are another factors impeding global acrylic adhesives market growth.
Asia Pacific is expected to emerge as a leader in acrylic adhesives market over the forecast period. Increasing demand from end-use industries such as construction and furniture is a key factor driving market growth in the region. Moreover increasing disposable income in emerging economies such as China, India, Thailand and Malaysia is further expected to complement Asia Pacific market growth. North American market is anticipated to grow at a rapid rate on account of growing automotive particularly in U.S. and Mexico. U.S. is a major market in the region and is characterized by its high consumption in automotive, construction, medical devices and optical applications. Increasing regulatory intervention from EU regarding adhesives usage in packaging is expected to challenge European market growth over the forecast period. Majority of the demand in the region is expected to be driven by robust automotive industry in Germany and increasing construction spending in Eastern Europe.
With intensifying consumer willingness to pay for value-added end products, the market is likely to observe significant growth in the future. Major industry participants are actively in R&D to develop higher quality products there by gaining competitive advantage. Key players operating in the global market include 3M Chemical Company, The Dow Chemical Company, Evonik Industries, Eastman Chemical Company and Henkel AG & Co.
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