How Is The Water-Based Adhesives Market Segmented?
The water-based adhesives market covered in this report is segmented –
1) By Type of Resin: Acrylic Polymer Emulsion (PAE), Polyvinyl Acetate (PVA) Emulsion, Vinyl Acetate Ethylene (VAE) Emulsion, Styrene Butadiene (SB) Latex, Polyurethane Dispersion (PUD)
2) By Product Type: Vinyl Acetate Adhesives, Starch Or Dextrin Adhesives, Rubber Latex Adhesives, Protein Or Casein Adhesives, Other Product Types
3) By Application: Tapes And Labels, Paper And Packaging, Building And Construction: Automotive And Transportation, Other Applications (consumer And DIY, leather And Footwear, Sports And leisure, And Assembly)
Subsegments:
1) By Acrylic Polymer Emulsion (PAE): General-Purpose Adhesives, Pressure-Sensitive Adhesives, packaging adhesives, automotive adhesives, Construction Adhesives
2) By Polyvinyl Acetate (PVA) Emulsion: Woodworking Adhesives, Paper And Packaging Adhesives, Textile Adhesives, Bookbinding Adhesives, White Glue For Crafts
3) By Vinyl Acetate Ethylene (VAE) Emulsion: Flooring Adhesives, Carpet Adhesives, Paper And Packaging Adhesives, Construction Adhesives, Textile Adhesives
4) By Styrene Butadiene (SB) Latex: Carpet Adhesives, Construction Adhesives, Woodworking Adhesives, Automotive Adhesives, Bonding For Laminates And Composites
5) By Polyurethane Dispersion (PUD): Footwear Adhesives, Automotive Adhesives, Leather Adhesives, Furniture And Wood Adhesives, Textile Adhesives
What Is Driving The Water-Based Adhesives Market? Stable Economic Growth Propels Water-Based Adhesives Market Expansion
The adhesives market's growth is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to the Asian Development Bank, a regional development bank, Asia’s share of world GDP is expected to increase to 40% by 2030 and 52% by 2050. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the water-based adhesives market during the forecast period.
What Is Driving The Water-Based Adhesives Market? Growing Construction Industry Positively Impacts The Water-Borne Adhesives Market
The growing construction industry is expected to boost the growth of the water-based adhesives market going forward. The construction industry refers to a broad sector of the economy that encompasses the planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. Increasing construction activities have increased the demand for waterborne coatings in the construction sector, including residential and commercial buildings, infrastructure projects, and real estate development. For instance, in February 2024, according to Eurostat, a Luxembuorg-based government agency, the average annual building production in the EU and the euro region increased by 0.1% and 0.2%, respectively, compared to 2022.,. This increase was driven by new work (1.1%), and repair and maintenance (0.8%). Therefore, the growing construction industry is driving the growth of the water-based adhesives market.
Who Are The Major Players In The Global Water-Based Adhesives Market?
Major companies operating in the water-based adhesives market include Henkel AG & Co. KGaA, H.B. Fuller Company, Arkema Inc., Sika AG, DuPont de Nemours Inc., DIC Corporation, 3M Company, Illinois Tool Works Inc., Ashland Inc., Mapei SPA, Pidilite Industries Ltd., Franklin International Inc., Huber Group, Alfa International Corporation, Akzo Nobel NV, PPG Industries Inc., Evonik Industries AG, Avery Dennison Corporation, Bayer Material Science, Lord Corporation, Ardex Group, Permabond LLC, Paramelt BV, Jowat SE, Aqua Based Technologies, Technical Adhesives Limited, Ellsworth Adhesives, Nadco Tapes and Labels Inc., Royal Adhesives & Sealants LLC, Eastman Chemical Company, Hexion Inc., Huntsman Corporation, Master Bond Inc., Momentive Performance Materials Inc., RPM International Inc., BASF SE
What Are The Key Trends Of The Global Water-Based Adhesives Market? IoT Integration Revolutionizes Adhesive Manufacturing For Enhanced Efficiency And Quality
Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller.
What Are The Key Trends Of The Global Water-Based Adhesives Market? Innovative Product Expansion Transforming The Water-Based Adhesives Market
Major companies operating in the water-based adhesives market are developing new products such as wash-off label adhesives to meet larger customer bases, more sales, and increase revenue. A wash-off label adhesive is a type of adhesive that is designed to be easily removed during the bottle cleaning and recycling processes. For instance, in August 2023, Dow Inc., a US-based chemical company, launched INVISU™ 7007, a wash-off label adhesive. This product's unique characteristic is its capacity to separate polyolefin-based (PE, PP) filmic labels from PET bottles for improved PET recycling. This acrylic technology's other performance advantages include moisture resistance, simplicity in processing and conversion, and recognition by the Association of Plastic Recyclers (APR) for compliance with caustic wash recycling standards.
Water-Based Adhesives Market Merger And Acquisition: Duraco Specialty Materials Acquired Strata-Tac Inc.
In May 2023, Duraco Specialty Materials, a US-based manufacturer of adhesive tapes, acquired Strata-Tac Inc. for an undisclosed amount. The acquisition gives customers instant access to a wider selection of pressure-sensitive adhesives for labels and tapes, face stocks, and specialty-coated materials. Strata-Tac's expertise in water-based chemistries is going to match Duraco's expanding offering of sustainable solutions. The addition of Strata-Tac strengthens Duraco's capabilities as a top North American producer of specialized labels and coated films. Strata-Tac Inc. is a US-based manufacturer of water-based adhesives.
Regional Outlook For The Global Water-Based Adhesives Market
Asia-Pacific was the largest region in the water-based adhesives market in 2024. North America was the second-largest region in the global water-based adhesives market share. The regions covered in the water-based adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the water-based adhesives market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Defines the Water-Based Adhesives Market?
The water-based adhesives market consists of the sales of vegetable glues, animal or protein glues, resin cements, and latex cements. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
How is Market Value Defined and Measured?
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
What is the Market Assessment and Strategic Outlook for the Water-Based Adhesives Industry?
The water-based adhesives market research report is one of a series of new reports from The Business Research Company that provides water-based adhesives market statistics, including global market size, regional shares, competitors with a water-based adhesives market share, detailed water-based adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the water-based adhesives industry. This water-based adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
