CHICAGO, November 22, 2018
CHICAGO, November 22, 2018 /PRNewswire/ --
According to the new market research "Water-based Adhesive Market by Resin Type (PAE, PVA Emulsion, VAE Emulsion, SB Latex, and PUD), Application (Tapes & Labels, Paper & Packaging, Woodworking, Building & Construction, and Automotive & Transportation), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global water-based adhesive market is projected to grow from USD 15.3 billion in 2018 to USD 20.2 billion by 2023, at a CAGR of 5.7%. Water-based adhesives are mainly used to bond dissimilar substrates in various application such as tapes & labels, paper & packaging, woodworking, building & construction, and automotive & transportation. It is used some specific applications including envelope, stamp production, bookbinding, labeling for alcoholic and soft drinks, consumer, and assembly application. There is an increased demand for water-based adhesives due to its flexibility, low cost, quick set, and strong bonds that remain for an extended period until the exposure of excess water or moisture.
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Browse in-depth TOC on "Water-based Adhesive Market"
116 - Tables
39 - Figures
172 - Pages
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The acrylic polymer emulsion segment is estimated to account for the largest market share, by resin type, during the forecast period.
Acrylic polymer emulsion is the major resin type, which is estimated to account for the largest market share, in terms of value and volume, in 2018. Acrylic polymer is a water-based emulsion used to manufacture environmentally friendly adhesives that provide an adequate balance between shear, tack, and peel strength of the bond. This leads to its use in a wide variety of packaging applications, such as bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding. These adhesives are widely used to bond backing material in the automotive industry as it helps to reduce vibrations in vehicle body panels. The growth of this resin type is driven by the huge production of automobile in APAC.
Tapes & Labels is estimated to be the largest application segment of the water-based adhesive market during the forecast period.
The market in the tapes & labels application is estimated to account for the largest share, in terms of volume, in 2018. Water-based adhesives are extensively used in various applications such as medium & heavy-duty carton sealing, gift wrapping & decoration, general purpose repair, bundling & strapping, and stationery. Adhesive tapes & labels are used in the packaging of electronic and electrical devices, hygiene and medical packaging, packaging of drug delivery system, packaging of construction materials during transit, packaging related to automotive and logistics, and packaging of consumer and industrial goods. These factors are driving the packaging adhesive tapes & labels market, which, in turn, are driving the demand for water-based adhesives.
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The water-based adhesive market in APAC is projected to register the highest CAGR during the forecast period.
APAC is the world's fastest-growing water-based adhesive market. The market is driven mainly by booming economies such as China, India, and a few smaller ones, such as South Korea, Vietnam, Taiwan, and Indonesia. APAC is a lucrative water-based adhesive market due to industrial development and improving economic conditions. It constitutes, approximately, 61% of the world's population, resulting in the growth of the manufacturing and processing sectors.
Major players operating in the Water-Based Adhesive Market include Henkel (Germany), H.B. Fuller (US), Arkema (Bostik) (France), and Sika (Switzerland).
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