What are the Growth Drivers of Water-Based Adhesive Market? DIC, Dow Corning, Evonik, Huber Group, Illinois Tool Works, 3M Company
Glue is any material capable of holding material together by surface attachment. Water-based adhesive contains carrier fluid and additives to reduce its viscosity, can be applied to substance efficiently at varying thickness. Global adhesive market is estimated to worth over USD 55 billion by 2024 owing to its increasing use in aerospace, consumer goods, electrical, food packaging and construction industries.
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Starch adhesives are not temperature sensitive and can be used at hot or cold temperature. It usually comes in the form of tasteless, odourless powder and must be mixed with water before use. Starch glue powder is composed of natural polymers and are mainly derived from wheat, corn, potatoes or rice. They are used in paper industry for corrugated boxes, envelope, paper-towel, wallpaper and paper bags.
They possess more viscosity and economical. Global wall paper market size is estimated to reach over USD 35 billion by 2024 due to its increase in the real estate market along with increase in disposable income and growth in sophistication. Durability and convenience in installation along with the absence of harmful material including lead, may boost the water-based adhesive market growth.
Animal glue is obtained from collagen present in mammal or fish and casein glue is made from the protein present in animal milk. Depending on the origin and method of preparation, they may exhibit varied physical, mechanical and chemical properties. Collagen based animal glue is used in furniture industry, construction of pipe organ, conservation of artefacts and piano repairing. Casein glue is also used in furniture market and is more superior than animal glue owing to its improved moisture resistance and aging characteristics.
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Polymers polyvinyl acetate (PVA) and ethylene vinyl acetate (EVA) are used for water-based adhesive preparation. Fluid is mixed with polymers to obtain a resin adhesive which is an extremely strong and durable glue and adhere & bond well to various substrates. It is essentially used in glass, ceramic, plastic, metal and stone.
Asia Pacific driven by Japan, South Korea, India and China water-based adhesive market demand is expected to register substantial growth due to industrialization in these emerging economies. Increasing demand for environmental friendly product and presence of key players in packaging, construction, electronics are important drivers that will boost water-based adhesive market in the region.
Europe water-based adhesive market demand, led by UK, Germany, Spain and France may witness firm growth due to the increase in demand for construction, automobiles and military sectors. German construction industry is estimated to witness rapid growth due to increasing state spending on the bridges and roads and increasing company investment in buildings. Growth in urban population and increasing number of immigrants has further enhanced market growth. Increasing growth of furniture industry in UK due to low price and high-quality furniture offered to the consumers may escalate water-based adhesive market growth.
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Global water-based adhesive market share is moderately fragmented. The key players operating in this industry are DIC, Dow Corning, Evonik, Huber Group, Illinois Tool Works, 3M Company, LLC and Franklin International. Major companies are focussing on construction and automotive sectors to enhance product portfolio and expand regional presence.
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