The demand for Flooring, insulation, and furniture is driving revenue growth of the water-based adhesives market.
The global Water-Based Adhesive Market size was USD 17.72 Billion in 2022 and is expected to reach USD 28.69 Billion in 2032, and register a revenue CAGR of 5.5% during the forecast period. The market revenue growth is primarily being driven by rising demand for sustainable and environmentally friendly products, which is prompting a shift to water-based adhesives. As they do not include hazardous chemicals such as Volatile Organic Compounds (VOCs), water-based adhesives are a safer and more environmentally friendly alternative to solvent-based adhesives.
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Top Lading Players: Henkel AG & Company, KGaA, Arkema, Sika AG, H.B. Fuller Company, DowDupont, 3M, DIC Corporation, Ashland Inc., Akzo Nobel N.V., and PPG Industries, Inc. and among others.
Strategic Developments:
- In 2021, Henkel launched a new line of water-based adhesives under its brand name, Loctite. The new products include adhesive solutions for packaging, labeling, woodworking, and automotive applications.
- In 2021, Sika AG acquired a Brazilian manufacturer of water-based adhesive technologies, Polypag. This acquisition will help Sika AG expand its product offerings and strengthen its presence in the South American market.
- In 2020, H.B. Fuller acquired Adecol Ind. Química, a Brazilian manufacturer of water-based adhesives, to expand its product portfolio and customer base in South America.
Water-Based Adhesive Market Upcoming Growth:
- Water-based adhesives are a type of adhesive that use water as a solvent instead of traditional solvents like organic compounds. They are commonly used in industries such as packaging, woodworking, and automotive manufacturing due to their eco-friendliness, ease of use, and cost-effectiveness.
- The water-based adhesive market is expected to grow due to several factors such as the increasing demand for eco-friendly adhesives, the growth of the construction industry, and the rising demand for packaging materials.
Some Key Highlights from the Report:
- Water-based adhesives market is growing at a CAGR of 6.3 %in Asia Pacific followed by North America and Europe, with 5.4 % and 5.1 % CAGR, respectively. High water-based adhesives demand across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, PAE segment is the dominating of water-based adhesives market, which holds 27.5% of the global market. The rising demand and new technologies have boosted the market of the water-based adhesives.
- VAE segment of the water-based adhesives market is expected to be the fastest-growing market segment during the forecast period 2019-2026 with a CAGR of 6.9%.
- Based on application, Tapes and tables segment of the water-based adhesives market was valued at USD 2.63 billion and is expected reach USD 4.44 billion by 2026 and also exhibit the highest CAGR of 6.7% in the forecasts period.
- Increasing per capita consumption, significant growth in industrialization in the emerging region is estimated to boost the building and construction segment of the water-based adhesives market. The sector is expected to hold more than one-third of market value share in the global market and is expected to dominate the same during the forecast period.
- The Asia Pacific region is expected to account for approximately one-third of market value share in the global water-based adhesive market during the forecast period followed by North America and Europe.
Segments covered in the report:
Resin Type (Revenue in USD Million; 2016–2026)
- Acrylic Polymer Emulsion (PAE)
- Polyvinyl Acetate (PVA) Emulsion
- Vinyl Acetate Ethylene (VAE) Emulsion
- Styrene Butadiene (SB) Latex
- Polyurethane Dispersion (PUD)
Application (Revenue in USD Million; 2016–2026)
- Tapes & Labels
- Paper & Packaging
- Building & Construction
- Woodworking
- Automotive & Transportation
- Others (consumer & DIY, leather & footwear, sports & leisure, and assembly)
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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