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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