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Water-based Adhesive Market worth $20.2 billion by 2023 | Key Players include Henkel, H.B. Fuller, Arkema, and Sika

12-11-2019 07:03 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Water-based Adhesive Market, Water-based Adhesive

Water-based Adhesive Market, Water-based Adhesive

According to recent market research "Water-based Adhesive Market by Resin Type (PAE, PVA Emulsion, VAE Emulsion, SB Latex, and PUD), Application (Tapes & Labels, Paper & Packaging, Woodworking, Building & Construction, and Automotive & Transportation), and Region - Global Forecast to 2023", The global water-based adhesive market is projected to grow from USD 15.3 billion in 2018 to USD 20.2 billion by 2023, at a CAGR of 5.7%.

Water-based adhesives are mainly used to bond dissimilar substrates in various application such as tapes & labels, paper & packaging, woodworking, building & construction, and automotive & transportation. It is used some specific applications including envelope, stamp production, bookbinding, labeling for alcoholic and soft drinks, consumer, and assembly application. There is an increased demand for water-based adhesives due to its flexibility, low cost, quick set, and strong bonds that remain for an extended period until the exposure of excess water or moisture.

Browse 125 Market Data Tables and 39 Figures spread through 151 Pages and in-depth TOC on "Water-based Adhesive Market - Global Forecast to 2023"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/water-based-adhesive-market-267560071.html

Water-based adhesives are manufactured by the emulsification and polymerization of resins, such as polyvinyl acetate (PVA) emulsion, vinyl acetate ethylene (VAE), and acrylic polymer emulsion, in water. They are generally free from solvents and hence are non-toxic and non-flammable. These adhesives are mainly used to join porous materials such as paper, cloth, and wood. The water-based adhesive market size is estimated at USD 15.3 billion in 2018 and is projected to reach USD 20.2 billion by 2023, at a CAGR of 5.7%. The increasing use of water-based adhesives in various applications such as tapes & labels, paper & packaging, and woodworking is majorly driving the market.

The water-based adhesive market is highly regulated and driven by environmental regulations in APAC, Europe, and North America. For instance, the European Union directive 2004/42/EC was created to minimize, monitor, and control the harmful effects of VOCs. It states that any water-based product (adhesives, fillers, paints, primers, or decorative materials) manufactured in Europe cannot contain more than 30g of VOCs content per liter of the total volume. The AgBB Committee, which was founded in 1997 by the Working Group on Environment-related Health Protection, has developed certain criteria for the testing and evaluated scheme for VOC emissions from building products that are suitable for indoor use. Also, in the US, EPA has finalized a rule mandating the VOC limits for a wide range of consumer products that include adhesives and sealants. Hence, the major players are focusing on R&D to innovate products across various applications. Recently, in March 2017, H.B. fuller expanded its operations in India by opening an R&D center at its plant in Shirwal, Pune. The new R&D center focuses on conducting experiments, running demonstrations, and training customers on its hot melt, water-based, anaerobic, and cyanoacrylate technologies. The expansion also strengthened the company’s business in India and the neighboring countries.

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The water-based adhesive market size is estimated at USD 15.3 billion in 2018 and is projected to reach USD 20.2 billion by 2023, at a CAGR of 5.7%. This growth is attributed to the high demand for water-based adhesives from the tapes & labels, paper & packaging, and woodworking applications.

The major players operating in the water-based adhesive market include Henkel (Germany), Arkema (Bostik) (France), H.B. Fuller (US), and Sika (Switzerland). The key growth strategies adopted by these companies include investment & expansion, merger & acquisition, partnership & collaboration, and new product launch.

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Henkel holds the leading position in the water-based adhesive market. The company offers a wide range of water-based adhesive products for the automotive & transportation, building & construction, woodworking, electronics, and energy and utilities industries. It focuses on both organic and inorganic growth to increase its production capacity, sales, and market share. For instance, in July 2017, the company acquired Darex Packaging Technologies (US), a supplier of high-performance adhesives, sealants, and coatings for the metal packaging industry. With this acquisition, the company expanded its market position and strengthened its adhesive technologies business.

H.B. Fuller is one of the key companies in the water-based adhesive market due to its strong product portfolio and new product launches. The company offers water-based adhesives for various applications in the assembly, packaging, converting, nonwoven and hygiene, performance wood, flooring, textile, flexible packaging, graphic arts, envelope, transportation, electronics, medical, clean energy, appliance, heavy machinery, audio equipment, and automotive sectors. It acquired four companies, namely, Royal Adhesives and Sealant (US), Wisdom Worldwide Adhesives (US), Cyberbond (Germany), and Advanced Adhesives Pty (Australia), to strengthen its market position and enhance its technology portfolio. In October 2017, the company acquired Royal Adhesives & Sealants (US), which helped its customer with a broader product portfolio along with expanded development and production capabilities.

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