Acrylic Adhesives Market Size is Expected to Reach at USD 19.3 Billion by 2032, registering a CAGR of 5.9%, Owing to Growing Demand for Eco-Friendly and Biodegradable Adhesives
The Global Acrylic Adhesives Market Size is predicted to reach USD 19.3 Billion by 2032 from USD 11.1 Billion in 2022, at a CAGR of 5.9% between 2023 and 2032, as per the Acumen Research and Consulting
The acrylic adhesives market is expected to experience significant growth in the coming years due to rising demand for these adhesives in various applications such as automotive, construction, and electronics. The increasing use of lightweight materials in the automotive industry is driving the demand for acrylic adhesives as they provide a strong bond and are suitable for use with a wide range of materials. The growing construction industry is also driving the demand for acrylic adhesives as they are used in various applications such as flooring, roofing, and wall coverings.
In the electronics industry, acrylic adhesives are used in applications such as electronic components, displays, and printed circuit boards. The growing demand for electronic devices in various industries is driving the demand for acrylic adhesives in this application. Additionally, the development of new and advanced acrylic adhesives with improved properties, such as high strength, high-temperature resistance, and low VOC emissions, is also driving the acrylic adhesives market growth. Furthermore, the growing demand for eco-friendly and sustainable adhesives is expected to boost market growth in the future.
Acrylic Adhesives Market Statistics
- Global acrylic adhesives market value was worth USD 11.1 Billion in 2022, with a 5.9% CAGR from 2023 to 2032
- Asia-Pacific acrylic adhesives market share occupied around 41.2% in 2022
- By application, construction segment capture over 20% of total market share in 2021
- 3M is one of the major manufacturers of acrylic adhesives, with a diverse product range for a variety of applications
- Increasing demand for biodegradable adhesives, propel the acrylic adhesives market revenue
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Acrylic Adhesives Market Trends
Acrylic adhesives are a type of adhesive made from acrylic polymers. They are known for their exceptional strength, durability, and resistance to temperature and environmental changes. They are also known for their fast curing time, making them suitable for use in high-speed production processes. The acrylic adhesives market is expected to grow significantly in the coming years due to the growing demand for these adhesives in various applications such as automotive, construction, and electronics. Moreover, acrylic adhesives are also used in other industries such as packaging, woodworking, and medical devices. They are suitable for use in packaging applications as they provide a strong bond and are resistant to environmental changes. In woodworking, they are used in applications such as furniture and cabinetry manufacturing. In the medical device industry, acrylic adhesives are used in applications such as wound care and surgical instruments.
However, there are also challenges faced by the acrylic adhesives market. One major challenge is the high cost of raw materials, which can increase the cost of production and make the adhesives more expensive for consumers. Additionally, there are also stringent regulations on the use of certain chemicals in adhesives, which can limit the use of certain acrylic adhesives. Despite these challenges, the market is expected to continue to grow as the demand for acrylic adhesives in various industries increases.
Acrylic Adhesives Market Segmentation
Acumen Research and Consulting has segmented the global acrylic adhesives market by type, technology, and application.
- By type, the market is categorized into acrylic polymer emulsion, cyanoacrylic, uv curable acrylic, and methacrylic.
- By technology, the industry is divided into solvent-based, water-based, reactive, and others.
- By application, the market is classified into construction, paper & packaging, consumer, transportation, woodworking, electronics, medical, and others.
Acrylic Adhesives Market Regional Overview
Geographically, the global acrylic adhesives market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to the acrylic adhesives industry analysis, North America and Europe are the fastest-growing regions in the global market. In North America, the market for acrylic adhesives is driven by the increasing use of these adhesives in the construction industry, as well as the growing demand for high-performance adhesives in the automotive industry. The region is home to several major manufacturers of acrylic adhesives, which are investing in research and development to develop new and advanced products, driving the market growth.
Similarly, in Europe, the market for acrylic adhesives is driven by the increasing use of these adhesives in the construction and automotive industries, as well as the growing popularity of eco-friendly adhesives. The market is also driven by the increasing use of acrylic adhesives in packaging and labeling applications and the growing demand for high-performance adhesives in the electronics industry.
Acrylic Adhesives Market Players
Some of the prominent acrylic adhesives market companies are 3M Corporation, The Dow Chemical Company, AVERY DENNISON CORPORATION, Pidilite Industries Ltd., H.B. Fuller Company, Huntsman International LLC, Henkel AG & Co. KGaA, Eastman Chemical Company, Sika AG, and Bayer Corporation.
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