Low VOC Adhesive Market to USD 70.31 Billion by 2027, Acrylic Segment to Grow at the Fastest CAGR during Forecast Period – Arizton

Sub-Heading: The low VOC adhesive market size was valued at USD 49.03 billion in 2021 and is expected to reach USD 70.31 billion by 2027, growing at a CAGR of 6.19% during the forecast period.

The low VOC adhesive market by revenue is expected to grow at a CAGR of over 6% during the period 2021−2027.   

The low VOC adhesives market is expected to experience significant growth during the forecast period. The growth of the market can be augmented by increasing the adoption of low VOC adhesives in emerging economies of China, India, and Brazil along with numerous industries. In addition, adhesive manufacturers are also switching from traditional methods of joining fasteners to low VOC epoxy and acrylic adhesives to increase their presence in the market. Emerging economies, especially India, China, and Brazil, represent lucrative opportunities for the adhesive vendor owing to the increase in population, especially the population that has migrated to urban areas in the past five years, government policy to attract foreign players to set up their manufacturing base, and most importantly the increasing purchasing power of consumers, resulting in increased demand for goods along with the quality aspect in the industry.

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KEY HIGHLIGHTS:

· Low VOC adhesive manufacturers have immense opportunity across the globe due to the increasing use of green adhesives product in numerous industries including construction, packaging, automotive & transportation, and consumer goods. Furthermore, strict government regulation to reduce the VOC content on adhesives product and the consumer demand for clean air quality are boosting the market growth.
· Water-based adhesives are dominating the low VOC adhesives market because of the increasing adoption of end user industry for green and eco-friendly adhesives and the growing strictness in government regulation regarding the VOC emission.
· In the resin type segment, PVA capture the highest market share. The primary driver for market growth is its superior properties such as excellent adhesion to various material, and low content of VOCs.
· APAC is the leading market for low VOC adhesive. Factors such as rapid urbanization, increasing disposable income, and living standard that have significantly contributed to the growth of construction activities, demand for modern furniture, growing trend for home delivered food, and the presence of automotive industry have contributed to the largest market for low VOC adhesives in APAC.

LOW VOC ADHESIVE MARKET - TRENDS & DRIVERS

The paper and packaging industry is one of the major consumers of low VOC adhesives. However, the pharmaceutical packaging market in the US is a major revenue contributor in the market. North America is expected to account for 40% to 45% of the global pharma market in terms of value and is projected to contribute approximately 45% of the global market growth between 2020 and 2026. The demand for lightweight vehicles is also gaining high traction in the market. Manufacturers are shifting their focus to water-based adhesives and hot melt adhesives due to the low or zero content of VOCs, thus, making these adhesives eco-friendly to create lucrative opportunities for the players to grow in the market.
Growth in construction in APAC has increased the demand for furniture that is propelling the market for polyurethane adhesives. In addition, China is one of the largest packaging industries witnessing the rise in demand for polyurethane adhesives owing to the growth in customized packaging. For instance, Henkel offers one of the popular and oldest polyurethane-based hot melt adhesives called TECHNOMELT PUR adhesive, which has high bond strength and is used in automotive, building material, and bookbinding purposes. Increase in the polyurethane adhesives will boost the presence of the vendors in the global market.

LOW VOC ADHESIVE MARKET - SEGMENTATION

Market Segmentation by Technology:
• Water-Based
• Hot Melt
• Pressure Sensitive
• Reactive
Market Segmentation by Resin
• Polyvinyl Acetate
• Acrylic
• Polyurethane
• Ethylene-Vinyl Acetate
• Epoxy
• Styrenic Block Copolymer
• Others
Market Segmentation by End-User
• Paper & Packaging,
• Building & Construction
• Furniture
• Automotive & Transportation
• Leather & Footwear
• Consumer & DIY
• Medical Devices
• Others
Market Segmentation by Geography
• North America
• US
• Canada
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• APAC
• China
• India
• Japan
• South Korea
• Indonesia
• Europe
• Germany
• France
• Indonesia
• UK
• Spain

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LOW VOC ADHESIVE MARKET – COMPETITIVE LANDSCAPE

The introduction of innovative and proprietary products that cater to customer demands requires companies to devote significant effort and resources. The research and development team needs to continuously analyze market trends to design, develop, and manufacture new product categories and new products with distinctive features and added advantages. The global low VOC adhesive market is consolidated in nature and is characterized by the presence of many global and domestic players across geographies.
Several players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC, to gain more market share. the growth of the players in the market depends on the competitive landscape, GDP growth, and industry development. At the same time, high capital requirements and rapid advancements in technologies are the major entry barriers for new players in water-borne coatings. Vendors across the low VOC adhesive market will boost profitability using efficient production techniques that minimize production costs and mitigate associated risks in the future.

Key Vendors
• 3M
• Sika
• H.B Fuller
• Henkel
• Arkema (Bostik)

Other Prominent Vendors
• Ashland
• Delo
• Huntsman International LLC
• Dymax
• Permatex
• Beacon Adhesives
• Jowat
• PPG industries
• Pidilite Industries
• Wacker Chemie AG
• Lord Corporation
• Avery Dennison AG
• Alfa Klebstoffe
• Uniseal
• Roberts Consolidated Industries
• IFS Industries
• Infinity Bond
• Jowat
• Nanpao Resins Chemical Group
• Franklin International

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About Arizton Advisory & Intelligence

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