The acrylic adhesives industry has captured $8,964.1 million in 2021, and it is projected to generate $14,921.4 million revenue in 2030, rising at a rate of 5.8% from 2021 to 2030. It is ascribed to the growing demand for eco-friendly and technologically advanced acrylic adhesives in various sectors.
The continuous expansion of these industries, rising penetration of composites in the aerospace, and automotive sectors, and replacement of conventional fasteners with such agents are major drivers of the industry.
Acrylic Adhesives Market
Europe is a significant producer of acrylic adhesives, while, the U.S. massively imports them. Therefore, the U.S could experience a high rise in product sales in the coming future. Economic performance is expected to rise in North America and Europe, and hence it offers burgeoning investments in the research and development, and manufacturing sectors, while Japan and China sustain the present industry expansion.
Water-based variants capture the significant share of the industry, as they are majorly used in construction, medical, wood and furniture, and paper and packaging applications in the industry.
The penetration of e-retailers, expansion of the pharmaceutical sector, presence of key automotive OEMs, and growing demand for sophisticated infrastructure are major drivers of acrylic adhesives in the APAC region.
In the region-based industry, India is projected to experience the fastest growth, of 7.2% in the coming years. The government offers support to construct houses for the low-income population and develops green packaging standards to fuel the demand for acrylic adhesives.
The stringent regulations in the food & beverage industry of Europe to reduce emission levels are a major driving factor to surging investments in bio-based products by manufacturers in the region.
APAC holds the largest industry revenue, due to the high rise in building activities, and increasing packaging demand in the emerging e-commerce, and food and beverage sector. The rising internet access in India and China has resulted in the growing demand for e-commerce packaging in these countries.
Therefore, the rising industrialization sector boosts the acrylic adhesives industry growth.
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