Summary
Asia-Pacific Acrylic Adhesives Market-Segmented by Product Type, End-User Industry and Geography- Trends and Forecasts( 2017-2022).
Description
The Asia-Pacific acrylic adhesives market was valued at USD 6.44 billion in 2015 and is projected to reach USD XX billion by the end of 2020, growing at a CAGR of 7.51 % during the forecast period. In terms of consumption in 2015, China led the market with a share of XX. XX %, followed by India.
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 Asia-Pacific acrylic adhesives market report the 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 Asia-Pacific acrylic adhesives market in 2015.
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This market is driven by a number of factors, such as growing automotive industry, dynamic economic development in India and China, and increasing construction activities. However, this market faces certain drawbacks, such as stringent governmental regulations regarding disposal, and increasing threat of substitution. These factors may act as a roadblock to the growth of the market.
The Asia-Pacific 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 China, India, Japan, South Korea, Australia and New Zealand, and the rest of Asia-Pacific. 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 China and India; in turn making the region an area of immense potential and opportunities. However, the dearth of stringent emission norms regarding VOC emission from adhesives in these developing countries has considerably hindered the growth of this market.
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Furthermore, the replacement of solvent-borne adhesives in the construction industry will offer numerous opportunities in the growth of the APAC acrylic adhesives market, in turn driving the Asia- Pacific acrylic adhesives market. www. orbisresearch. com; + 1( 214) 884-6817; + 9120-64101019