Summary
Europe Acrylic Adhesives Market-Segmented by Product Type, End-User Industry and Geography- Trends and Forecasts( 2017-2022)
Description
The European acrylic adhesives market was valued at USD 2.63 billion in 2015 and is projected to reach USD XX billion by the end of 2020, growing at a CAGR of 5.32 % during the forecast period.
Acrylic adhesives, owing to their eco-friendly and low-toxic nature; high productivity i. e. heataccelerated and fast rate of cure; and high performance i. e. high impact and temperature resistance, is becoming an integral part of various commercial and industrial sectors. In the European acrylic adhesives market report, major end-user sectors that have been taken into consideration are: automotive, construction, packaging, furniture, and others. The automotive segment accounted for more than XX. XX % share of the Europes acrylic adhesives market in 2015.
This market is driven by a number of factors, such as growing automotive industry, recovering economic conditions, and increasing construction activities. However, this market faces certain drawbacks, such as volatility in the raw material prices, and stringent environmental regulations regarding acrylic adhesives disposal implemented by the governments across the European Union. These factors may act as a roadblock to the growth of the market.
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The European acrylic adhesives market, on the basis of product type can be broadly segmented into solvent based acrylic adhesives, water based acrylic adhesives, and others. Water based acrylic adhesives is expected to be the fastest growing segment in the market, owing to increasing consumer awareness regarding the ill-effects of solvent-based adhesives on environments and human health.
The market has also been segmented country wise into Germany, United Kingdom, France, Italy, Spain, and the rest of Europe. In terms of consumption in 2015, Germany led the market with a share of XX. XX %, followed by France. The rapid growth of the automotive industry in Germany, resulting from the increased infiltration of the countrys automobile manufacturers in China and India, an area of immense potential and opportunities due to the improvement in the financial status of the consumers in these developing countries. However, the slow recovery of the construction industry in Germany has considerably hindered the growth of this market.
Furthermore, the replacement of solvent-borne adhesives in the construction industry will offer numerous opportunities in the growth of the European acrylic adhesives market.
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