PR Body:

Acrylic Adhesive belongs to a class of adhesive that are manufactured by using methacrylate and acrylate monomer as a major feedstock. Moreover, Acrylic Adhesive is divided into two categories such as water based and solvent based. Solvent and water act as a carrier for the solids in the coating process and are removed during the curing process. Acrylic Adhesive exhibits superior properties such as excellent temperature resistance, high humidity as well as UV resistance, good adhesion to a variety of substrates. With the above mentioned properties, they find wide applications in paper & packaging, electrical & electronics, construction, automotive & transportation, and others.

The prominent market factors and trends identified in the Global Acrylic Adhesive are increasing construction activities, growing automobile production and sales, and improving living standards. Moreover, expansion of paper & packaging sector in the developed and developing countries is estimated to propel the growth of the market over the assessment period 2017-2023. Increasing awareness regarding the harmful effect of volatile organic compound is likely to reduce the usage of solvent based Acrylic Adhesive but it has boosted the consumption of water based products. Furthermore, increasing use of Acrylic Adhesive in repairing hoardings and other interior accessories in the automotive industry is predicted to fuel the market demand over the forecast period. These are widely utilized in the furniture segment.

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Industry/ Innovation/ Related News:

May 18, 2015 – Toyochem Co., Ltd (Japan), one of the leading producers of acrylic adhesives, declared that the company has launched Oribain® EXK14-346 series of water-based acrylic pressure-sensitive adhesives (PSAs) for medical applications such as heat wraps, and medicated patches. This product was known for bio-compatible nature, user-friendly, and other features. One of the sources of the company also announced that the product can be utilized in end-use industries such as automobiles, home appliances, electronics, and others. Therefore, these factors are expected to drive the market over the assessment period.

January 17, 2016 – Toyochem Co., Ltd (Japan), one of the prominent manufacturers of acrylic adhesives, declared that the company has completed the agreement to acquire the rights of one-component, solvent- based acrylic pressure sensitive adhesive (PSA) technologies from Rohm and Hass Chemicals LLC of Philadelphia, a part of the Dow Chemical Company. The global rights of formulation, manufacturing process along with the customer information to 11 solvent acrylic PSA products are covered under this agreement. One of the sources of the company also announced that the product can be utilized in a wide range of applications. Therefore, these factors are expected to drive the market over the assessment period.

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.

Key Players and Competition Analysis

H.B. Fuller (U.S.), Henkel AG & Co. KGaA (Germany), Bostik S.A. (France), Sika AG (Switzerland), Eastman Chemical Company (U.S.), 3M (U.S.), AVERY DENNISON CORPORATION. (U.S.), Pidilite Industries Limited (India), Royal Adhesives & Sealants (U.S.), and Huntsman International LLC. (U.S.), among others are some of the prominent players at the forefront of competition in the Global Acrylic Adhesives Market and are profiled in MRFR Analysis.

Acrylic Adhesives Market - Regional Analysis:

The Global Acrylic Adhesive Market is categorized into five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these, Asia Pacific region is predicted to grow at the highest CAGR over the assessment period due to rising demand for numerous applications such as automotive & transportation, construction, and electrical & electronics. The demand for Acrylic Adhesive is projected to propel the market growth in the various countries of Asia Pacific such as Malaysia, China, India, Vietnam, Thailand, Singapore, South Korea, and Japan owing to high adoption rate by the automobile manufacturers. Furthermore, increasing number of working professionals as well as growing demand for packaged products is expected to raise flexible and rigid packaging requirements, which is likely to fuel the market growth. Additionally, increased purchasing power, reasonable regulatory framework, and ease in the availability of low-cost raw materials & labor are likely to add fuel to the regional acrylic adhesive growth of the market during the forecast period, 2017-2023.

Asia Pacific emerged as the largest market for the Acrylic Adhesive followed by North America and Europe in 2016. European countries such as Russia, Germany, the U.K, Spain, and Italy are expected to be the prominent consumer markets due to the developed end use industries and continuously rising expenditure on innovation and research. Germany is predicted to witness the fastest growing market owing to increasing demand for personal and commercial vehicles such as luxury cars and heavy duty vehicles. North America is estimated to witness a steady growth in the Acrylic Adhesive Market on account of strong consumer base for various industries combined with the increasing investment to revitalize construction & electronics industry over the assessment period. The U.S, Canada, and Mexico are among the prominent contributors to the Acrylic Adhesive Market and are predicted to register a significant demand for the market over the given period.

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