Global Acrylic Adhesives Market

Global Acrylic Adhesives Market Size, Share, Growth Analysis, By Type(Water-based, solvent-based and reactive and others), By Application(Packaging, Construction) - Industry Forecast 2023-2030


Report ID: SQMIG15A2346 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 67 | Figures: 75

Global Acrylic Adhesives Market Insights

Acrylic Adhesives Market size was valued at USD 12.63 billion in 2021 and is poised to grow from USD 13.4 billion in 2022 to USD 21.52 billion by 2030, at a CAGR of 6.1% during the forecast period (2023-2030).

The global acrylic adhesives market is currently witnessing robust growth, driven by increasing demand across various industries such as automotive, construction, electronics, and packaging. These adhesives, known for their quick-curing properties, excellent bonding strength, and versatility, are gaining popularity as a reliable alternative to traditional mechanical fasteners and solvent-based adhesives. The ongoing trend towards lightweight and advanced materials in automotive and aerospace sectors is further propelling the market expansion, as acrylic adhesives offer enhanced performance, durability, and weight reduction benefits. Additionally, the booming e-commerce and consumer electronics sectors are contributing to the upsurge in demand for acrylic adhesives in packaging and electronic assembly applications. Moreover, stringent environmental regulations against the use of hazardous chemicals have boosted the adoption of eco-friendly and low-VOC (volatile organic compound) acrylic adhesives. Geographically, Asia-Pacific is emerging as a dominant region in the global acrylic adhesives market due to rapid industrialization, infrastructural development, and increased manufacturing activities. Key players in the market are focusing on research and development to innovate new product formulations with improved properties and wider application areas, thereby intensifying competition and fostering innovation in the industry.

US Acrylic Adhesives Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 12.63 billion

Largest Segment

Water-based

Fastest Growth

Water-based

Growth Rate

6.1% CAGR

Global Acrylic Adhesives Market ($ Bn)
Country Share for North America Region (%)
Global Acrylic Adhesives Market By Type ($ Bn)
Global Acrylic Adhesives Market By Type (%)

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Global Acrylic Adhesives Market Segmental Analysis

The Global Acrylic Adhesives Market is segmented on the basis of type, application, and region. Based on type, the market can be segmented into water-based, solvent-based and reactive and others. Based on application, the market is segmented into Packaging, Construction, Wood & Furniture, Transportation, Electrical & Electronics, Consumer Goods, Medical Devices, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Acrylic Adhesives Market Analysis By Type

Among the various types, the water-based acrylic adhesives segment currently holds the dominant position in the global market. This dominance can be attributed to their eco-friendliness, low VOC emissions, and ease of application, making them highly preferred in industries where environmental regulations play a significant role. Water-based acrylic adhesives also offer excellent adhesion to various substrates, making them suitable for a wide range of applications, including packaging, paper bonding, woodworking, and construction.

The reactive acrylic adhesives segment is experiencing the fastest growth in the global market. These adhesives have the unique ability to undergo cross-linking reactions, resulting in improved bond strength, heat resistance, and chemical resistance. The burgeoning demand from industries such as automotive, aerospace, and electronics, where high-performance adhesives are crucial for advanced applications, is driving the rapid growth of reactive acrylic adhesives. Additionally, the rising trend of using lightweight materials in these sectors further amplifies the demand for reactive acrylic adhesives, which provide enhanced bonding for such materials.

Acrylic Adhesives Market Analysis By Application

The packaging industry emerges as the dominant segment in the global acrylic adhesives market. The use of acrylic adhesives in packaging applications is widespread due to their excellent bonding capabilities with various materials like plastics, metals, and paper, providing strong and reliable adhesion. Additionally, the packaging industry's constant growth, driven by e-commerce and consumer goods demand, contributes to the widespread adoption of acrylic adhesives in this sector.

The fastest-growing segment in the global acrylic adhesives market is the electrical and electronics industry. The increasing demand for electronic devices, coupled with rapid technological advancements, has led to a surge in the usage of acrylic adhesives in this sector. These adhesives offer exceptional electrical insulation properties and thermal stability, making them ideal for bonding delicate electronic components, circuit boards, and other sensitive parts. The continuous miniaturization of electronic devices further enhances the demand for acrylic adhesives due to their ability to provide reliable and precise bonding in intricate assembly processes.

Global Acrylic Adhesives Market By Type, 2021 (%)

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Global Acrylic Adhesives Market Regional Insights

North America dominated the global acrylic adhesives market. The region's dominance can be attributed to the presence of well-established end-use industries, including automotive, electronics, aerospace, and construction. The strong demand for acrylic adhesives in these sectors, driven by technological advancements, infrastructure development, and a focus on lightweight materials, contributes significantly to the market's growth in North America. Additionally, the region's strict regulations regarding the use of environmentally friendly adhesives further boost the adoption of acrylic adhesives, known for their low VOC content and eco-friendly characteristics.

Asia Pacific is experiencing the fastest growth in the global acrylic adhesives market. The region's rapid industrialization, robust economic growth, and increasing manufacturing activities are fueling the demand for acrylic adhesives in various industries. Countries like China, India, Japan, and South Korea are witnessing significant growth in automotive production, electronics manufacturing, and construction projects, which in turn, drives the adoption of acrylic adhesives in these sectors. Moreover, rising consumer disposable income and the burgeoning e-commerce industry in the region are also contributing to the escalating demand for acrylic adhesives in packaging and consumer goods applications.

Global Acrylic Adhesives Market By Geography, 2023-2030
  • Largest
  • Fastest

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Global Acrylic Adhesives Market Dynamics

Acrylic Adhesives Market Drivers

Increasing demand for lightweight and advanced materials in various industries

  • The key driver of the global acrylic adhesives market is the growing demand for lightweight and advanced materials in various industries, such as automotive and aerospace. Acrylic adhesives offer superior bonding strength and durability, making them an attractive choice for replacing traditional mechanical fasteners and heavier bonding methods. As industries continue to seek ways to reduce overall weight and improve fuel efficiency, the adoption of acrylic adhesives in lightweight material bonding becomes a crucial factor driving the market's growth.

Acrylic Adhesives Market Restraints

Volatility in raw material prices

  • One of the key restraints impacting the global acrylic adhesives market is the volatility in raw material prices. Acrylic adhesives are derived from petrochemical-based feedstocks, and fluctuations in the prices of these raw materials can significantly impact the overall production cost of acrylic adhesives. Price fluctuations can create uncertainty for manufacturers and may hinder the market's growth, as it becomes challenging to maintain stable pricing for end-users. Additionally, rising raw material costs can affect profit margins for manufacturers and limit the affordability of acrylic adhesives for certain applications, posing a restraint to the market's expansion.

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Global Acrylic Adhesives Market Competitive Landscape

The competitive landscape of the global acrylic adhesives market is characterized by intense rivalry among key players striving to capture a significant market share. Companies focus on product innovation, research and development, and expanding their product portfolios to cater to diverse industry needs. Additionally, strategic partnerships, collaborations, and acquisitions are common tactics employed by market players to strengthen their market presence and broaden their geographical reach. The emphasis on sustainability and eco-friendly solutions remains a key aspect of competition as environmental regulations and customer preferences drive the demand for low-VOC and green acrylic adhesive products. The market's dynamic nature and evolving customer demands compel companies to stay agile and responsive to emerging trends, technological advancements, and changing industry requirements to maintain a competitive edge.

Acrylic Adhesives Market Top Player’s Company Profiles

  • Henkel AG & Co. KGaA (Germany)
  • Sika AG (Switzerland)
  • Bostik (France)
  • DOW Chemical Company (US)
  • Huntsman Corporation (US)
  • Illinois Tool Works Inc. (US)
  • LORD Corporation (US)
  • Permabond Engineering Adhesives (UK)
  • Ashland Global Holdings Inc. (US)
  • Mapei S.p.A. (Italy)
  • RPM International Inc. (US)
  • Jowat SE (Germany)
  • Arkema Group (France)
  • Dymax Corporation (US)
  • ITW Performance Polymers (US)
  • Beardow Adams (UK)
  • Hexion Inc. (US)

Acrylic Adhesives Market Recent Developments

  • In July 2022, Mapei commenced the construction of its third manufacturing facility located in Kosi, Mathura. The purpose of this expansion is to meet the increasing demand for their products in the Northern India region.
  • In February 2022, Arkema Group successfully finalized the acquisition of Ashland's Performance Adhesives business. Ashland, a renowned leader in high-performance adhesives based in the United States, became part of Arkema Group's portfolio through this acquisition.
  • In February 2022, H.B. Fuller made an announcement about its acquisition of Fourny NV. This strategic move aimed to bolster H.B. Fuller's Construction Adhesives business in the European market.

Global Acrylic Adhesives Key Market Trends

  • Increasing demand for eco-friendly and low-VOC (volatile organic compound) adhesive solutions: One key market trend in the global acrylic adhesives market is the increasing demand for eco-friendly and low-VOC (volatile organic compound) adhesive solutions. As environmental concerns and regulations gain prominence, there is a growing preference among consumers and industries for acrylic adhesives that have minimal impact on the environment and human health. Manufacturers are focusing on developing and promoting sustainable adhesive products with reduced VOC emissions, aligning with the market's shift towards more environmentally friendly options. This trend is driven by the need for greener and safer bonding solutions across various applications, contributing to the overall growth of the acrylic adhesives market.

Global Acrylic Adhesives Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Acrylic Adhesives Market analysis, the global market is witnessing robust growth driven by increasing demand across diverse industries such as automotive, construction, electronics, and packaging. Acrylic adhesives are favored for their quick-curing properties, excellent bonding strength, and versatility. The water-based acrylic adhesives dominated the market and the electrical and electronics industry is the fastest-growing application segment. North America holds a prominent position in the market, while Asia Pacific exhibits the highest growth rate. The market is highly competitive, with companies focusing on innovation, partnerships, and sustainability to gain a competitive edge. Key drivers include the demand for lightweight materials, while fluctuating raw material prices serve as a restraint. Additionally, the market trend highlights a shift towards eco-friendly and low-VOC adhesive solutions in response to environmental concerns and regulations.

Report Metric Details
Market size value in 2021 USD 12.63 billion
Market size value in 2030 USD 21.52 billion
Growth Rate 6.1%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Water-based, solvent-based and reactive and others
  • Application
    • Packaging, Construction, Wood & Furniture, Transportation, Electrical & Electronics, Consumer Goods, Medical Devices, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Henkel AG & Co. KGaA (Germany)
  • Sika AG (Switzerland)
  • Bostik (France)
  • DOW Chemical Company (US)
  • Huntsman Corporation (US)
  • Illinois Tool Works Inc. (US)
  • LORD Corporation (US)
  • Permabond Engineering Adhesives (UK)
  • Ashland Global Holdings Inc. (US)
  • Mapei S.p.A. (Italy)
  • RPM International Inc. (US)
  • Jowat SE (Germany)
  • Arkema Group (France)
  • Dymax Corporation (US)
  • ITW Performance Polymers (US)
  • Beardow Adams (UK)
  • Hexion Inc. (US)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Acrylic Adhesives Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Acrylic Adhesives Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Acrylic Adhesives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Acrylic Adhesives Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Acrylic Adhesives Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Acrylic Adhesives Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Acrylic Adhesives Market size was valued at USD 12.63 billion in 2021 and is poised to grow from USD 13.4 billion in 2022 to USD 21.52 billion by 2030, at a CAGR of 6.1% during the forecast period (2023-2030).

The competitive landscape of the global acrylic adhesives market is characterized by intense rivalry among key players striving to capture a significant market share. Companies focus on product innovation, research and development, and expanding their product portfolios to cater to diverse industry needs. Additionally, strategic partnerships, collaborations, and acquisitions are common tactics employed by market players to strengthen their market presence and broaden their geographical reach. The emphasis on sustainability and eco-friendly solutions remains a key aspect of competition as environmental regulations and customer preferences drive the demand for low-VOC and green acrylic adhesive products. The market's dynamic nature and evolving customer demands compel companies to stay agile and responsive to emerging trends, technological advancements, and changing industry requirements to maintain a competitive edge. '3M (US)', 'AVERY DENNISON CORPORATION (US)', 'H.B. Fuller Company (US)', 'Henkel AG & Co. KGaA (Germany)', 'Sika AG (Switzerland)', 'Bostik (France)', 'DOW Chemical Company (US)', 'Huntsman Corporation (US)', 'Illinois Tool Works Inc. (US)', 'LORD Corporation (US)', 'Permabond Engineering Adhesives (UK)', 'Ashland Global Holdings Inc. (US)', 'Mapei S.p.A. (Italy)', 'RPM International Inc. (US)', 'Jowat SE (Germany)', 'Arkema Group (France)', 'Dymax Corporation (US)', 'ITW Performance Polymers (US)', 'Beardow Adams (UK)', 'Hexion Inc. (US)'

The key driver of the global acrylic adhesives market is the growing demand for lightweight and advanced materials in various industries, such as automotive and aerospace. Acrylic adhesives offer superior bonding strength and durability, making them an attractive choice for replacing traditional mechanical fasteners and heavier bonding methods. As industries continue to seek ways to reduce overall weight and improve fuel efficiency, the adoption of acrylic adhesives in lightweight material bonding becomes a crucial factor driving the market's growth.

Increasing demand for eco-friendly and low-VOC (volatile organic compound) adhesive solutions: One key market trend in the global acrylic adhesives market is the increasing demand for eco-friendly and low-VOC (volatile organic compound) adhesive solutions. As environmental concerns and regulations gain prominence, there is a growing preference among consumers and industries for acrylic adhesives that have minimal impact on the environment and human health. Manufacturers are focusing on developing and promoting sustainable adhesive products with reduced VOC emissions, aligning with the market's shift towards more environmentally friendly options. This trend is driven by the need for greener and safer bonding solutions across various applications, contributing to the overall growth of the acrylic adhesives market.

North America dominated the global acrylic adhesives market. The region's dominance can be attributed to the presence of well-established end-use industries, including automotive, electronics, aerospace, and construction. The strong demand for acrylic adhesives in these sectors, driven by technological advancements, infrastructure development, and a focus on lightweight materials, contributes significantly to the market's growth in North America. Additionally, the region's strict regulations regarding the use of environmentally friendly adhesives further boost the adoption of acrylic adhesives, known for their low VOC content and eco-friendly characteristics.

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