The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider water-based adhesives market, and compares it with other markets.
The global water-based adhesives market was worth $34.5 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.2% and reach $50.9 billion by 2023.
The water-based adhesives market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The water-based adhesivess market covered in this report is segmented by type of resin into acrylic polymer emulsion (pae), polyvinyl acetate (pva) emulsion, vinyl acetate ethylene (vae) emulsion, styrene butadiene (sb) latex, and polyurethane dispersion (pud). The water-based adhesives market in this report is segmented by application into tapes & labels, paper & packaging, building & construction: automotive & transportation, others (consumer & diy, leather & footwear, sports & leisure, and assembly).
The adhesives market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period.
Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP is expected to grow at 7.3%, whereas China is forecasted to register GDP growth of 6.2% in 2019. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period.
Slower drying and freezing at low temperatures are the major issues with water based adhesives. Due to volatility characteristics of water, drying process is taking long hours and the work process might be delayed. For example, companies such as Henkel is producing Technomelt adhesives which are hot melt adhesives in automotive and furniture industry as they are quick dry adhesives. Thus the slower drying nature is limiting the growth of waterbased adhesives.
Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed and interpreted by plant managers and senior level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers on possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company and H.B. Fuller.
In July 2016, Henkel AG & Co. KGaA, German based chemical and consumer goods company has acquired Aislantes Nacionales S.A., a Chile based company majorly into tile adhesive and building materials, for an undisclosed amount. According to this acquisition, Henkel will create a platform to strengthen its portfolio in building materials and will establish good market in Latin America. Entering into Chile adhesive market, Henkel will start local production in Chile that will in turn helps in key positioning with strong brands and technologies.
Major players in the market are Henkel, H.B. Fuller, Arkema (Bostik), Sika, Dowdupont, DIC, 3M, Illinois Tool Works, Ashland, Mapei
Key Topics Covered:
1. Executive Summary
2. Water-Based Adhesives Market Characteristics
3. Water-Based Adhesives Market Size And Growth
3.1. Global Water-Based Adhesives Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Water-Based Adhesives Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Water-Based Adhesives Market Segmentation
4.1. Global Water-Based Adhesives Market, Segmentation By Type of Resin, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Acrylic Polymer Emulsion (PAE)
- Polyvinyl Acetate (PVA) Emulsion
- Vinyl Acetate Ethylene (VAE) Emulsion
- Styrene Butadiene (SB) Latex
- Polyurethane Dispersion (PUD)
4.2. Global Water-Based Adhesives Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Tapes & Labels
- Paper & Packaging
- Building & Construction
- Automotive & Transportation
- Others (consumer & DIY, leather & footwear, sports & leisure, and assembly)
5. Water-Based Adhesives Market Regional And Country Analysis
5.1. Global Water-Based Adhesives Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Water-Based Adhesives Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- H.B. Fuller
- Arkema (Bostik)
- Illinois Tool Works
- Pidilite Industries
- Franklin International
- Huber Group
- Alfa International Corporation
- Ashland Inc. (US)
- Akzo Nobel N.V. (Netherlands)
- PPG Industries, Inc. (US)
- Avery Dennison Corporation
- Bayer Material Science
- Lord Corporation
- Scigrip Adhesives
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