Acrylic Adhesives Market Size was valued at USD 14.35 billion in 2023 and is expected to reach USD 22.79 billion by 2031 and grow at a CAGR of 5.95% over the forecast period 2024-2031.
The growth of the acrylic adhesives market is propelled by the increasing demand for lightweight and durable bonding solutions across industries such as automotive, construction, electronics, and packaging driving the adoption of acrylic adhesives due to their high strength, versatility, and ability to bond various substrates. In addition, technological advancements in acrylic adhesive formulations, including improvements in curing mechanisms, UV resistance, and temperature stability, enhance their performance and expand their application scope.
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Moreover, stringent regulations promoting the use of environmentally friendly and low-VOC adhesive solutions contribute to market growth, as acrylic adhesives are known for their relatively low emissions and compliance with environmental standards. Additionally, the rising trend towards miniaturization and assembly efficiency in manufacturing processes fuels the demand for acrylic adhesives, which offer excellent bonding characteristics even in thin film applications, further driving market expansion.
Drivers:
Increasing demand for acrylic adhesives from various end-use industries
Stringent regulations favoring environmentally friendly and low-VOC adhesive solutions
Rising trend towards miniaturization and assembly efficiency in manufacturing processes
The acrylic adhesive market is being driven by a rising trend towards miniaturization and assembly efficiency in manufacturing processes. As industries increasingly demand smaller and more intricate products, acrylic adhesives offer a solution by providing strong, reliable bonds without adding bulk or weight. Their ability to bond dissimilar materials, such as plastics, metals, and composites, efficiently contributes to streamlining assembly processes, reducing production time, and enhancing overall manufacturing efficiency. This trend aligns with the need for precision and performance in various sectors like electronics, automotive, and medical devices, fueling the demand for acrylic adhesives as a versatile and reliable bonding solution.
Restraints:
The harmful effect of Solvent-based acrylic adhesives
Concerns regarding the environmental impact of acrylic adhesives, particularly in terms of their biodegradability and recyclability
Limited temperature resistance compared to certain other adhesive types
The acrylic adhesive market faces a restraint in limited temperature resistance compared to certain other adhesive types. Acrylic adhesives typically exhibit lower resistance to high temperatures compared to alternatives like epoxies and silicones, which limits their application in environments with elevated temperatures. This constraint poses challenges, particularly in industries such as aerospace, automotive, and electronics, where components may be subjected to extreme heat conditions during operation. As a result, industries requiring high-temperature resistance may opt for alternative adhesive solutions, impacting the market potential for acrylic adhesives.
Opportunities:
Rising demand for acrylic adhesives in niche applications such as medical devices, aerospace, and renewable energy sectors.
Challenges
Fluctuations in the availability and prices of raw materials
Impact of Russia-Ukraine War:
Both Russia and Ukraine are important players in the global chemicals industry, which supplies raw materials for acrylic adhesives. The war has disrupted these supply chains, leading to shortages and price hikes for some key components. Oil and natural gas are majorly exported by Russia. Both oil and natural gas are used in the production of acrylic adhesives. The war has driven up energy prices worldwide, which is increasing the cost of manufacturing these adhesives. The impact may vary depending on the specific type of acrylic adhesive.
Impact of Economic Downturn:
The economic slowdown has led to reduced industrial and manufacturing activities, particularly in sectors like automotive, construction, and electronics, which are significant consumers of acrylic adhesives. As businesses scale back production in response to lower consumer spending and economic uncertainty, the demand for adhesives used in manufacturing processes and assembly operations has declined. This demand reduction directly affects the sales and revenue of acrylic adhesive manufacturers.
By Technology
Solvent-Based
Water-Based
Reactive
Others
Based on technology, Water-Based technology held the largest revenue share of about 75% in 2023. Stringent environmental regulations favoring low-VOC emissions drive the adoption of water-borne acrylic adhesives, known for their eco-friendliness and compliance with regulatory standards. Secondly, water-borne acrylic adhesives offer ease of use, quick drying times, and excellent adhesion properties, making them suitable for a wide range of applications across industries. Additionally, the growing preference for sustainable and environmentally friendly adhesive solutions further boosts the demand for water-borne acrylic adhesives, solidifying their market leadership position.
By Type
Acrylic Polymer Emulsion
Methacrylic
Cyanoacrylic
UV Curable Acrylic
By Application
Paper & Packaging
Medical
Construction
Transportation
Woodworking
Consumer
Electronics
Others
Paper & Packaging led the application segment of the acrylic adhesives market with a revenue share of more than 50% in 2023. The robust growth of e-commerce and increasing consumer demand for sustainable packaging solutions drive the adoption of acrylic adhesives in this sector. Additionally, technological advancements in acrylic adhesive formulations cater to evolving packaging needs, including enhanced durability, adhesion, and efficiency, further bolstering their utilization in the Paper & Packaging industry.
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Asia Pacific held the largest revenue share of more than 35% in 2023 in the acrylic adhesive market. Rapid industrialization and urbanization in developing countries like China, India, etc. drive significant demand for acrylic adhesives across various industries including construction, automotive, electronics, and packaging. In addition, robust growth in manufacturing activities, particularly in sectors requiring adhesive applications, contributes to the region's market dominance. Additionally, increasing investments in infrastructure development and rising consumer spending further fuel the demand for acrylic adhesives, consolidating Asia Pacific's position as a key market player in the industry.
Europe is estimated to grow at the highest CAGR during the forecast period of 2024-2031 in the acrylic adhesive market. stringent regulations promoting the adoption of environmentally friendly and low-VOC adhesive solutions align with the characteristics of acrylic adhesives, driving their demand in the region. The growing emphasis on sustainable packaging solutions, coupled with increasing investments in research and development, fosters innovation and boosts market growth.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
3M, Avery Dennison Corporation, Henkel AG & Co. KGaA, Sika AG, Eastman Chemical Company, Royal Adhesives & Sealants, TOAGOSEI CO., LTD, Permabond LLC, B. Fuller Company, Pidilite Industries Limited, Bostik, Huntsman International LLC, Tonsan Adhesive Inc, and Other players.
Recent Development:
In Nov 2023, Henkel introduced a medical-grade light-cure adhesive specifically designed for body-worn devices. This new product is free of IBOA (Isobornyl Acrylate) and other skin-sensitizing monomers, meeting EU MDR 2017 regulations regarding the use of CMR (carcinogenic, mutagenic, or toxic for reproduction) substances in medical devices.
In Oct 2021, 3M unveiled its latest innovation in the 3M Scotch-Weld Structural Acrylic Adhesives line, introducing three new products: the 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, the 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series, and the 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS.
In Oct 2021, Eastman Chemical Company and its subsidiaries finalized a deal to sell their adhesive resins assets and business to Synthomer plc for a total cash consideration of $1 billion.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 14.35 Billion |
| Market Size by 2031 | USD 22.79 Billion |
| CAGR | CAGR of 5.95% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Technology (Solvent-based, Water-based, Reactive, and Others) • By Type (Acrylic Polymer Emulsion, Methacrylic, Cyanoacrylic, UV Curable Acrylic) • By Application (Paper & Packaging, Medical, Construction, Transportation, Woodworking, Consumer, Electronics, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | 3M, Avery Dennison Corporation, Henkel AG & Co. KGaA, Sika AG, Eastman Chemical Company, Royal Adhesives & Sealants, TOAGOSEI CO., LTD, Permabond LLC, B. Fuller Company, Pidilite Industries Limited, Bostik, Huntsman International LLC, Tonsan Adhesive Inc, and Other players. |
| DRIVERS |
•Increasing demand for acrylic adhesives from various end-use industries •Stringent regulations favoring environmentally friendly and low-VOC adhesive solutions •Rising trend towards miniaturization and assembly efficiency in manufacturing processes |
| RESTRAINTS | •The harmful effect of Solvent-based acrylic adhesives
•Concerns regarding the environmental impact of acrylic adhesives, particularly in terms of their biodegradability and recyclability •Limited temperature resistance compared to certain other adhesive types |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Key stakeholders considered in the study:
Raw material vendors
distributors/traders/wholesalers/suppliers
regulatory authorities, including government agencies and ngo
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
end-use industries are the stake holder of this report.
Ans: Water-based, Solvent-based and Reactive and Others are the sub-segments of by Technology segment.
Ans: 3M (US), Avery Dennison Corporation (US), Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), Eastman Chemical Company (US), Royal Adhesives & Sealants (US), TOAGOSEI CO., LTD (Japan), Permabond LLC (US), B. Fuller Company (US), Pidilite Industries Limited (India), Bostik (US), Huntsman International LLC, Tonsan Adhesive, Inc (China) are the major key players of Acrylic Adhesives Market.
Ans: The Acrylic Adhesives Market Size was valued at USD 14.35 billion in 2023.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Global Acrylic Adhesives Market Segment, By Technology
10.1 Solvent-based
10.2 Water-based
10.3 Reactive
10.4 Others
11. Global Acrylic Adhesives Market Segment, By Type
11.1 Acrylic Polymer Emulsion
11.2 Methacrylic
11.3 Cyanoacrylic
11.4 UV Curable Acrylic
12. Global Acrylic Adhesives Market Segment, By Application
12.1 Paper & Packaging
12.2 Medical
12.3 Construction
12.4 Transportation
12.5 Woodworking
12.6 Consumer
12.7 Electronics
12.8 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Eastern Europe
13.3.1.1 Poland
13.3.1.2 Romania
13.3.1.3 Hungary
13.3.1.4 Turkey
13.3.1.5 Rest of Eastern Europe
13.3.2 Western Europe
13.3.2.1 Germany
13.3.2.2 France
13.3.2.3 UK
13.3.2.4 Italy
13.3.2.5 Spain
13.3.2.6 Netherlands
13.3.2.7 Switzerland
13.3.2.8 Austria
13.3.2.9 Rest of Western Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 India
13.4.3 Japan
13.4.4 South Korea
13.4.5 Vietnam
13.4.6 Singapore
13.4.7 Australia
13.4.8 Rest of Asia Pacific
13.5 The Middle East & Africa
13.5.1 Middle East
13.5.1.1 UAE
13.5.1.2 Egypt
13.5.1.3 Saudi Arabia
13.5.1.4 Qatar
13.5.1.5 Rest of the Middle East
13.5.2 Africa
13.5.2.1 Nigeria
13.5.2.2 South Africa
13.5.2.3 Rest of Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Colombia
13.6.4 Rest of Latin America
14. Company Profiles
14.1 3M
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Avery Dennison Corporation
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Henkel AG & Co. KGaA
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Sika AG
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Eastman Chemical Company
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Royal Adhesives & Sealants
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 TOAGOSEI CO., LTD.
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Permabond LLC.
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 B. Fuller Company
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Pidilite Industries Limited
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
14.11 Bostik
14.11.1 Company Overview
14.11.2 Financial
14.11.3 Products/ Services Offered
14.11.4 SWOT Analysis
14.11.5 The SNS View
14.12 Huntsman International LLC
14.12.1 Company Overview
14.12.2 Financial
14.12.3 Products/ Services Offered
14.12.4 SWOT Analysis
14.12.5 The SNS View
14.13 Tonsan Adhesive Inc
14.13.1 Company Overview
14.13.2 Financial
14.13.3 Products/ Services Offered
14.13.4 SWOT Analysis
14.13.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
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