Summary
Global Acrylic Adhesives Market-Segmented by Product Type, End-User Industry and Geography- Trends and Forecasts( 2017-2022)
Description
The global acrylic adhesives market was valued at USD 10.33 billion in 2015 and is projected to reach USD 13.45 billion by the end of 2020, Growing at a CAGR of 5.42 % during the forecast period from 2015 to 2020.
Acrylic adhesives, owing to their eco-friendly and low-toxic nature; high productivity i. e. heat accelerated 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 acrylic adhesives market report, we have taken the following major end-user sectors into consideration: automotive, construction, packaging, furniture, and others; and have found that the automotive segment accounted for more than XX. XX % share of the global acrylic adhesives market in 2015.
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This automotive market is driven by a number of factors, such as: growing automotive industry, dynamic economic development in the Asia-Pacific Region, and accelerating demand from packaging industry. However, this market faces certain drawbacks, such as volatility in the raw material prices, and stringent environmental regulations implemented by the governments across the globe. These factors may act as a roadblock to the growth of the market.
The global 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 its increasing use for the replacement of high-VOC emitting solvent-borne adhesives.
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The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and Middle-East and Africa. In terms of consumption in 2015, APAC led the market with a share of XX. XX %; it was followed by North America. With the improvement in the financial status of the consumers, the purchasing power of the middle class consumers has increased, which in turn is accelerating the demand for automobiles and buildings in the Asia-Pacific region, in turn making the region an area of immense potential and opportunities. However, the lack of or lax regulations regarding VOC in the region has considerably hindered the growth of this market.
Furthermore, the recovering construction industry in the European region will offer numerous opportunities in the growth of the European Acrylic Adhesives market, in turn driving the Global Acrylic Adhesives Market. www. orbisresearch. com; + 1( 214) 884-6817; + 9120-64101019