(MENAFN- GetNews) Global Acrylic Adhesive Market Information: by Type (Acrylic Polymer Emulsion, UV Curable, Cyanoacrylate, Methyl Methacrylate, and Others), Technology (Water Based, Solvent Based, and Others), Application (Automotive & Transportation, Paper & Packaging, Construction, Electrical & Electronics, and Others), and Region- Forecast till 2023
The Global Acrylic Adhesive Market is classified into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among the aforementioned regions, Asia Pacific held the 33% share of the global market in 2016 and is predicted to grow at a steady CAGR over the forecast period 2017-2023. The Asia Pacific Acrylic Adhesive Market is segmented into China, Japan, India, South Korea, Vietnam, Malaysia, and others. China, Vietnam, and India are among the major hubs of automotive production, which require the use of acrylic adhesive in the manufacturing of light weight vehicles. Moreover, growing construction activities in Asia Pacific has shown a speedy growth in the past few years and is currently the second largest construction market worldwide. Technological advancement as well as propagation of exceptional architectural design promote the use of highly durable and weather resistance Acrylic Adhesive. Furthermore, rising private-public infrastructure spending, strong growth of industrial sector, and huge investment in medical and institutional buildings in emerging economies are some of the prominent factors attributed to the market growth. In India and China, numerous government driven projects such as airports, railroad networks, sports & recreational facility have been allocated a huge amount of funds, which may influence market growth over the given period.
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North America holds the second largest position followed by Europe. North America is estimated to witness a substantial growth in the use of Acrylic Adhesive due to increasing R & D activities and innovation in the packaging business. Furthermore, Europe and North America are collectively expected to account for 45% global market share due to concentration of large number of packaging and woodworking companies in these regions. European countries such as France, Germany, the UK, and Spain have dominated the region in the recent years. Furthermore, high utilization of packaging material in Russia and the Netherlands is further predicted to stimulate market growth. In North America, Canada and the U.S are among the major contributors to the regional growth and are predicted to dominate in region during the review period. Latin America market is predicted to register an average growth owing to moderate growth of the packaging and automotive sector. The Middle East & Africa is predicted to witness a remarkable growth owing to rising investment specifically, in Kuwait, Saudi Arabia, United Arab Emirates (UAE), and Qatar. Moreover, upcoming events such as FIFA World Cup 2020 in Qatar is predicted to boost the construction activity, which is likely to fuel the market growth.
Key Players:
Some of the prominent Acrylic Adhesive Market players are H.B. Fuller (U.S.), Henkel AG & Co. KGaA (Germany), Bostik S.A. (France), Sika AG (Switzerland), Eastman Chemical Company (U.S.), 3M (U.S.), AVERY DENNISON CORPORATION. (U.S.), Pidilite Industries Limited (India), Royal Adhesives & Sealants (U.S.), Huntsman International LLC. (U.S.), and others.
Segmentation:
The Global Acrylic Adhesive Market is categorized on the basis of Type, Technology, Application, and Region.
Based on the Type, the market is segmented into acrylic polymer emulsion, UV curable, cyanoacrylate, methyl methacrylate, and others.
Based on the Technology, the market is classified into water based, solvent based, and others.
Based on Application, the market is categorized into automotive & transportation, paper & packaging, construction, electrical & electronics, and others.
Based on the Region, this market is segmented into Asia Pacific, Europe, Latin America, North America, and Middle East and Africa.
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