Asia-Pacific Acrylic Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Acrylic Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific acrylic adhesives market is expected to grow at a CAGR of more than 5% during the forecast period. The demand for acrylic adhesives is widely driven by the growing demand from end-user industries, such as construction, woodworking and packaging. However, the market growth may be hindered by the stringent VOC emission regulations related to acrylic adhesives disposal and/or substitution from different feedstock.

Key Highlights

• The water-based acrylic adhesives segment is expected to be the fastest growing segment, owing to the increasing consumer awareness about the ill-effects of solvent-based adhesives on environment and human health.
• Shifting focus towards the bio-based adhesives and replacement of solvent-borne adhesives in construction industry are likely to offer opportunities for the acrylic adhesives market in the region.
• China stands to be the largest market for acrylic adhesives in the region, where consumption is majorly driven by the end-user industries, such as construction, woodworking and packaging.

Key Market TrendsPackaging Industry to Drive the Market Demand

• The packaging industry dominates the consumption of acrylic adhesives, as they are widely useful in the manufacturing of various products, such as tapes, cases, labels, and cartons.
• In Asia-Pacific, China, India, Indonesia and Vietnam are some of the countries which have been registering strong growth, further influencing the per capita income and consumption patterns of the masses. Such factors have been collectively increasing the consumption of fast-moving consumer goods in these markets.
• Growing e-commerce, online food deliveries, and innovation and development in the packaging industry are further driving the demand for packaging materials in the region.
• In the past few years, the demand for processed and ready-to-eat meals have increased considerably in the region, owing to increasing women employment and convenience offered by such products to the consumers.
• While all such markets are highly dependent on packaging industry for materials to package their products, the acrylic adhesives consumption has also been increasing simultaneously with growth of packaging industry in the region.

China to Dominate the Market Demand

• China dominates the consumption of acrylic adhesives in the region. Growing construction activities and rising demand from packaging industry are some of the factors driving the consumption of acrylic adhesives in the country.
• The growth in aging population along with continuous growth in population and strong growth of e-commerce industry have led to strong growth in consumption of consumer goods and food products. These segments stand to be the major markets for packaging industry. Hence, with continuously growing demand for such products, the consumption of packaging materials, including acrylic adhesives have also been increasing in the country.
• The construction sector has been recording a healthy growth in the country, owing to significant increase in government investment on large-scale infrastructure projects in order to ensure steady growth of the economy.
• Moreover, owing to the growing air traffic, the government has planned to increase the number of airports to around 450 by 2035, which indicates about 91% increase over the current number of airports in the country. In this regards, there are numerous airport construction projects, which are either in development or planning stage in the country.
• Hence, all such trends in the end-user industries are expected to drive the growth of acrylic adhesives market in the country over the forecast period.

Competitive Landscape

Asia-Pacific acrylic adhesives market is fragmented in nature. Some of the key players in the market includes 3M, Arkema Group, Sika AG, H.B. Fuller, and Henkel AG & Co. KGaA, amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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