The emulsion adhesives market is projected
to grow from USD 12.98 billion in 2017 to USD 17.28 billion by 2022, at a CAGR
of 5.9% between 2017 and 2022. APAC is the largest
consumer of emulsion adhesives. The demand for acrylic emulsion adhesives in
the APAC region and technological innovations in end-use industries are key factors projected to drive the growth of
the emulsion adhesives market.
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Major players operating in the emulsion
adhesives market include Arkema (Bostik), H.B. Fuller (US), Henkel (Germany),
Ashland (US), Wacker Chemie (Germany) and 3M (US). These players have adopted
various strategies, such as mergers & acquisitions and new product
launches, to strengthen their foothold in the emulsion adhesives market. The
strategy of new product launches was the key growth strategy adopted by major players between 2013 and 2017 to enhance
their product portfolio and penetrate new markets. This strategy accounted for
a share of 50% of all growth strategies adopted by key market players.
H.B. Fuller is one of the leading
manufacturers, formulators, and marketers of adhesives. The company operates
through 5 business segments, namely, Americas adhesives, construction products,
EIMEA (Europe, India, and the Middle East & Africa), engineering adhesives,
and Asia Pacific. Adhesives developed by the company are used in various applications,
such as assembly, packaging, converting, nonwoven & hygiene, performance
wood, flooring, textile, flexible packaging, graphic arts, envelope, and
electronics. H.B. Fuller is actively involved in acquiring emerging companies
in the emulsion adhesives market. For instance, in October 2017, H.B. Fuller
acquired Royal Adhesives & Sealants for USD 1.57 billion. This acquisition enabled
H.B. Fuller to enhance its product offerings in the areas of engineering,
construction adhesives, and durable assembly, thereby making it a major supplier of adhesives for insulating glass and commercial roofing applications.
3M offers an extensive range of products,
including adhesives, bonding materials, coatings, and specialty materials. The
company operates through 5 business segments, namely, industrial, safety &
graphics, electronics & energy, health care,
and consumer. The company manufactures adhesives & sealants for various
applications through its industrial and consumer segments. It has its production
facilities in 70 countries worldwide and offers products and solutions to
customers in, approximately, 200 countries in the Americas, APAC, Europe, and
the Middle East & Africa. The company is focused on the adoption of organic
strategies to enhance its market presence. For instance, in March 2013, 3M
introduced a new product in its water-based adhesives range named as Fast Tack
1000NF. This product offers speed and strength compared to the solvent-based
range with additional benefits, such as Zero-VOCs and GREENGUARD certification.
The emulsion adhesives market is projected
to grow from USD 12.98 billion in 2017 to USD 17.28 billion by 2022, at a CAGR
of 5.9% between 2017 and 2022. The rise in demand for acrylic emulsion
adhesives in the APAC region and technological innovations in end-use
industries are key factors projected to
drive the growth of the emulsion adhesives market.
Emulsion adhesives are manufactured by the
emulsification and polymerization of resins such as PVA, VAE, and acrylic in
water. They are generally free of solvents, and hence, are not flammable and
non-toxic. These adhesives are mainly used for porous materials, such as paper,
cloth, and wood. The market for emulsion adhesives offers several untapped
opportunities in automotive and construction applications. Over the years, research
& development activities have been conducted to enhance the mechanical and
chemical properties of emulsion adhesives. The improved heat resistance
property of emulsion adhesives has increased its applicability in the
automotive and packaging industries. Benefits offered by emulsion adhesives
include the absence of flammable substances and easy handling as compared to
other conventional adhesives.
The acrylic polymer emulsion segment is
projected to be the largest and the fastest-growing resin type segment of the
emulsion adhesives market. Acrylic polymer emulsions are environment-friendly
adhesives and provide an adequate balance among shear, tack, and peel strength
of the bond.
APAC is expected to be the fastest-growing market
for emulsion adhesives. This growth is mainly attributed to the rising demand
for economic, commercial, and infrastructural activities in emerging countries,
such as China, India, Thailand, Indonesia, Bangladesh, and Vietnam.
Manufacturers of emulsion adhesives are shifting their base to APAC countries,
owing to low production cost. In addition, policies that mandate the use of
environment-friendly products have led to innovation in the field of emulsion
adhesives, in this region.
The demand for emulsion adhesives is
primarily driven by the existing as well as emerging applications, innovative
manufacturing practices, and competitive costs of these adhesives. The
increasing use of emulsion adhesives in various industries and expansion of the
construction industry in North America, Europe, APAC, and the Middle East are
additional factors driving the demand for emulsion adhesive products.
