Waterborne Adhesives market Competitive Analysis, Upcoming Demand And Growth Forecast 2021 To 2028 | BASF SE, Sika AG, Henkel AG, The 3M Company

Waterborne or water-based adhesives utilize water as a solvent and are classified as low volatile organic compounds (VOC) compounds. The properties of waterborne adhesive product is dependent upon its chemical composition. Resins, fillers, and antifoams are common constituents of waterborne adhesive products. The advantages associated with waterborne adhesives include low toxicity, high solid content, low VOC content, and high initial adhesion. These properties have led to increased adoption of waterborne adhesives in the recent past. These can be used on various substances such as wood, metal, plaster, concrete, plastic, and bricks, which has led to its utilization in applications such as packaging, automotive, and construction.

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Market Taxonomy

On the basis of product type, the waterborne adhesives market is segmented into:
Starch/Dextrin
Protein/Casein
Vinyl Acetate
Rubber Latex
Polyacrylate Emulsions
Others

On the basis of application, the waterborne adhesives market is segmented into:
Packaging
Furniture
Footwear
Construction
Automotive
Others

Increased demand from packaging application is projected to drive growth of the market. Waterborne adhesive products are used in tapes, labels, and lamination application in food and consumer goods packaging. Waterborne adhesives exhibit high resistance to heat, chemicals, and are non-reactive in nature. Moreover, increasing demand from growing automotive industry in emerging economies of India, China, and Brazil is expected to bolster the market growth. According to China Association of Automobile Manufacturers (CAAM) and Society of Indian Automobile Manufacturers (SIAM), sales of cars in China stood at 28.87 million in 2017 and 24.97 million in India, respectively.

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North America is expected to be the second largest market for waterborne adhesives over the forecast period. This is primarily due to high demand in the U.S., which is the world’s second largest construction market. According to U.S. Department of Commerce, the construction market in the U.S. grew by 2.4% in 2017 over the previous year. This growth trend is expected to continue over the forecast period, due to high government infrastructure spending policies. The redevelopment and/or development of public infrastructure such as airports, rail stations, pipelines among others across the country will boost growth of the market for waterborne adhesives.

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