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