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