CAGR 5.9% Growth Predicted in Acrylic Adhesives Market by 2024: Henkel AG & Company, H.B. Fuller, BostikSA, Illinois Tool Works Inc., Sika AG and other
Acrylic adhesives are resin based compounds comprising of acrylic or methyl acrylic polymers. They are mostly suited for prolonged ultraviolet exposure and elevated temperatures, offering solvent resistance and also the long term stability. Acrylic adhesives are used in the several industries such as paper and packaging, construction, transportation, medical, and electronics.
The global acrylic adhesives marketa ccounted for USD 8.32billion in 2016 and is projected to grow at a CAGR of 5.9% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Major Market Competitors:
- Henkel AG & Company
- B. Fuller
- Illinois Tool Works Inc.
- Sika AG
- 3M Company
- Huntsman Corporation
- Avery Dennison Corporation
- Pidilite Industries
- Toagosei Co., Ltd.
- Royal Adhesives & Sealants, LLC
- Permabond LLC and many more.
Major Market Drivers & Restraint:
- Increasing demand for miniaturization and automation in electronics industry
- Increasing demand for acrylic adhesives in Asia-Pacific region
- Stringent environment regulations in European countries
- Volatility in the raw material prices
The acrylic adhesivesmarket is segmented on the basis of product typeinto temporary acrylic adhesive and permanent acrylic adhesive.Permanent acrylic adhesive is expected to grow at the highest CAGR over the forecast period.
On the basis of forms, the market is segmented into
- liquid, paste and tape.
On the basis of technology, the market is segmented into
- Water-based, Solvent-based, Reactive and Others.
On the basis of type, the market is segmented into
- acrylic polymer emulsion, cyanoacrylic, methacrylic, uv curable acrylic.
Acrylic polymer emulsion is further segmented into pure
- acrylic, styrene acrylics, and vinyl acrylics.Cyanoacrylic adhesives are further segmented into ethyl cyanoacrylate, methyl cyanoacrylate, other cyanoacrylates, methacrylic adhesives and uv curable acrylic adhesives. Other cyanoacrylatesare further sub-segmented into n-butyl cyanoacrylate and octyl cyanoacrylate.
On the basis of application, the market is segmented into
- paper & packaging, construction, transportation, medical, consumer, woodworking, electronics, and others. Other applications are further segmented into bookbinding, signage and leather & footwear.
The global acrylic adhesivesmarket is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.