Asia-Pacific Acrylic Adhesives Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 5.12 Billion |
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Market Size (2028) | USD 6.52 Billion |
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Largest Share by End User Industry | Packaging |
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CAGR (2024 - 2028) | 6.26 % |
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Largest Share by Country | China |
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Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Asia-Pacific Acrylic Adhesives Market Analysis
The Asia-Pacific Acrylic Adhesives Market size is estimated at 5.12 billion USD in 2024, and is expected to reach 6.52 billion USD by 2028, growing at a CAGR of 6.26% during the forecast period (2024-2028).
5.12 Billion
Market Size in 2024 (USD)
6.52 Billion
Market Size in 2028 (USD)
5.97 %
CAGR (2017-2023)
6.26 %
CAGR (2024-2028)
Largest Market by End-user Industry
48.48 %
value share, Packaging, 2023
Packaging is the dominant end-user industry in the market owing to its widespread usage in pressure-sensitive applications such as labels, tapes, and others.
Largest Market by Technology
74.55 %
value share, Water-borne, 2023
Water-borne is the largest technology type in the market owing to its wide range of applications in the packaging and building and construction industries.
Largest Market by Country
53.35 %
value share, China, 2023
In Asia-Pacific, China had the highest market share owing to the strong presence of manufacturers in the packaging and building and construction sectors.
Fastest Growing Market by Country
6.67 %
Projected CAGR, China, 2024-2028
Due to the increasing population and rapid urbanization, India is likely to be the fastest-growing country during the forecast period.
Leading Market Player
6.69 %
market share, 3M, 2021
3M is the leading acrylic adhesives manufacturer in the region, owing to the high demand for its labels and tapes in the packaging industry.
The rising adoption of electric vehicle across the region to foster the demand for acrylic adhesives
- Acrylic adhesives are widely used in the construction industry because of their applications, such as waterproofing, weather-sealing, cracks sealing, and bonding. China is the fastest-growing country in the Asia-Pacific region, with a CAGR of 5% during the period 2022 to 2028 in terms of consumption of acrylic construction adhesives. The country registered the highest demand for acrylic adhesives used in the building and construction industry owing to rising construction output which registered USD 4.6 trillion by value in 2021, showing 10% growth compared to the previous year.
- Acrylic adhesives are also widely used across the automotive industry because of their applicability to surfaces such as glass, metal, plastic, and painted surfaces, and their features are helpful in the automotive industry, such as extreme weather resistance, durability, and long-lasting. Developing an EV ecosystem in developing Asia is critical for ASEAN nations to expedite consumer adoption and meet their climate targets. Creating tomorrow's EV ecosystems entails significantly expanding the EV value chain by boosting both the supply and demand sides of the equation. The adoption of electric four-wheelers in the Asian markets will continue to be significant. In absolute terms, China will become the largest EV market. On its current trajectory, China's adoption rate will approach 60%, and the country will account for more than 40% of global new EV sales by 2030. This will increase demand for acrylic automotive adhesives in the forecast period (2022-2028).
- Acrylic adhesives are used in the healthcare industry for applications such as assembling medical device parts. The increase in healthcare investments across Asia-Pacific will lead to an increase in their demand in the forecast period.
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Being a manufacturing hub of the world China holds largest acrylic adhesive share
- From 2017 to 2021, the demand generated from Asia-Pacific was the highest among all regions. This region's share of adhesive demand has consistently occupied around 38-40% of the global demand because of its high manufacturing capacity of all end-user industries. Acrylic adhesives with reactive, water-borne, and solvent-borne technologies account for most of the demand in the region.
- From 2017 to 2019, the demand for adhesives from this region recorded a CAGR of 2.87%. The slow growth in the demand for acrylic adhesives was due to a decrease in construction activities and a decrease in automotive production in the region. During this period, the demand from these end-user industries declined with a CAGR of -1.68% and -1.65%, respectively.
- In 2020, the demand from all end users across the region declined due to constraints in operations, labor, raw material, supply chain, and other areas. Among all industries from all countries in the region, the footwear industry in Australia took the worst hit, declining by 49.32% y-o-y in volume terms. The decrease in domestic demand because of low purchasing power resulting from a weak economy severely affected this industry during the pandemic.
- In 2021, the demand for acrylic adhesives quickly rebounded to pre-pandemic demand volumes as trade restrictions eased. The demand from India witnessed the highest y-o-y growth of 74.54% in volume terms. The overall demand from the Asia-Pacific region is expected to record a CAGR of 5.13% in volume terms during the forecast period. This demand growth will be driven by the region's construction, packaging, and automotive industries during the forecast period.
Asia-Pacific Acrylic Adhesives Market Trends
Fast paced growth of e-commerce industry in developing nations to augment the industry
- Packaging is mainly used for protection, containment, information, utility, and promotion. This makes packaging an integral part of most industries. In 2017, packaging usage accounted for 2.5 billion ton of packaging, including paper and paperboard and plastic packaging. In 2020, due to the COVID-19 pandemic, the market registered a negative growth rate of 7.4% due to disruptions in the supply chain, shortage of packaging material, restrictions on the import and export of goods, and factories operating at low capacity.
- Governments of different Asian countries have taken steps to reduce the use of plastic, as China and Indonesia are the first and second-largest contributors to plastic waste in the ocean. China has announced new restrictions on excessive packaging, requiring all food and cosmetics producers to adhere to specific guidelines determining the volume of packaging allowed in proportion to a product. The extended producer responsibility (EPR) regulation imposed by the Indonesian government will oblige producers and retailers to redesign their product packaging to include a higher proportion of recyclable material.
- In 2021, the market registered a positive growth of 8%, with 2.7 billion ton of packaging material used for various purposes. The packaging industry is expected to keep growing due to the rising middle-income population, improvement of supply chains, and rising e-commerce activities, which have significantly boosted the packaging industry in the past few years as special packaging is required for shipping goods. The growing Asian market is expected to boost packaging usage, enabling it to register a CAGR of 5.7% during the forecast period (2022-2028).
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Raising investment to expand infrastructural activities will augment the industry size
- Asia-Pacific is driven by the world's major economies, such as China, Japan, and India. China is promoting and undergoing a process of continuous urbanization, with a target rate of 70% for 2030. The increased living spaces required in the urban areas resulting from increasing urbanization and the desire of middle-income urban residents to improve their living conditions may impact the housing market and, thereby, increase the residential constructions in the country.
- Non-residential infrastructure is likely to expand significantly. The Chinese government approved 26 infrastructure projects worth approximately USD 142 billion in 2019, with completion due in 2023. The country has the largest construction market globally, accounting for 20% of all worldwide construction investments. By 2030, the government plans to spend over USD 13 trillion on construction. Thus, the construction market is expected to register a 4.48% CAGR during the forecast period (2022-2028).
- The construction industry is one of the largest industries in Asia-Pacific and recorded promising growth in 2019. The industry continues to grow as the region constitutes many developing countries such as Vietnam, Malaysia, Indonesia, Thailand, and other South Asian countries. However, due to the COVID-19 pandemic, the construction sector witnessed a significant decline owing to lockdowns by governments across the region, which severely affected developing countries, including India, China, Japan, and ASEAN countries.
- The Asia-Pacific region is also witnessing significant interest from international investors in the construction space. Foreign Direct Investment (FDI) in the construction development sector is increasing as developing countries provide better returns and opportunities for investors.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil aviation will propel the aerospace industry
- Large concentration of footwear exporters in the Asia-Pacific region will facilitate the industry growth
- Increasing adoption of electric vehicles to drive the industry
Asia-Pacific Acrylic Adhesives Industry Overview
The Asia-Pacific Acrylic Adhesives Market is fragmented, with the top five companies occupying 15.23%. The major players in this market are 3M, AVERY DENNISON CORPORATION, Henkel AG & Co. KGaA, Hubei Huitian New Materials Co. Ltd and NANPAO RESINS CHEMICAL GROUP (sorted alphabetically).
Asia-Pacific Acrylic Adhesives Market Leaders
3M
AVERY DENNISON CORPORATION
Henkel AG & Co. KGaA
Hubei Huitian New Materials Co. Ltd
NANPAO RESINS CHEMICAL GROUP
Other important companies include Arkema Group, H.B. Fuller Company, Kangda New Materials (Group) Co., Ltd., Pidilite Industries Ltd., Sika AG.
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-Pacific Acrylic Adhesives Market News
- December 2021: Sika planned to establish a new technology center and manufacturing factory for high-quality adhesives and sealants in Pune, India. The company primarily manufactures products for the transportation and construction industries through its three new production lines.
- October 2021: 3M introduced a new generation of acrylic adhesives, including 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series, and 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS.
- July 2021: H.B. Fuller announced a strategic agreement with Covestro to offer sustainable adhesives in the market.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
Asia-Pacific Acrylic Adhesives Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. End User Trends
2.1.1. Aerospace
2.1.2. Automotive
2.1.3. Building and Construction
2.1.4. Footwear and Leather
2.1.5. Packaging
2.2. Regulatory Framework
2.2.1. Australia
2.2.2. China
2.2.3. India
2.2.4. Indonesia
2.2.5. Japan
2.2.6. Malaysia
2.2.7. Singapore
2.2.8. South Korea
2.2.9. Thailand
2.3. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
3.1. End User Industry
3.1.1. Aerospace
3.1.2. Automotive
3.1.3. Building and Construction
3.1.4. Footwear and Leather
3.1.5. Healthcare
3.1.6. Packaging
3.1.7. Other End-user Industries
3.2. Technology
3.2.1. Reactive
3.2.2. Solvent-borne
3.2.3. UV Cured Adhesives
3.2.4. Water-borne
3.3. Country
3.3.1. Australia
3.3.2. China
3.3.3. India
3.3.4. Indonesia
3.3.5. Japan
3.3.6. Malaysia
3.3.7. Singapore
3.3.8. South Korea
3.3.9. Thailand
3.3.10. Rest of Asia-Pacific
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
4.4.1. 3M
4.4.2. Arkema Group
4.4.3. AVERY DENNISON CORPORATION
4.4.4. H.B. Fuller Company
4.4.5. Henkel AG & Co. KGaA
4.4.6. Hubei Huitian New Materials Co. Ltd
4.4.7. Kangda New Materials (Group) Co., Ltd.
4.4.8. NANPAO RESINS CHEMICAL GROUP
4.4.9. Pidilite Industries Ltd.
4.4.10. Sika AG
5. KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
6. APPENDIX
6.1. Global Adhesives and Sealants Industry Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework (Industry Attractiveness Analysis)
6.1.3. Global Value Chain Analysis
6.1.4. Drivers, Restraints, and Opportunities
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, ASIA-PACIFIC, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, ASIA-PACIFIC, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, ASIA-PACIFIC, 2017-2028
- Figure 6:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 7:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 8:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 9:
- VALUE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 10:
- VOLUME SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 11:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 12:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 13:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 14:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 15:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 16:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 17:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 18:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 19:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 20:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 21:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 22:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 23:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 24:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 25:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 26:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 27:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 28:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 29:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 30:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 31:
- VALUE OF ACRYLIC ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 32:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 33:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 34:
- VALUE OF ACRYLIC ADHESIVES CONSUMED BY TECHNOLOGY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 35:
- VOLUME SHARE OF ACRYLIC ADHESIVES CONSUMED BY TECHNOLOGY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 36:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY TECHNOLOGY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 37:
- VOLUME OF REACTIVE ACRYLIC ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 38:
- VALUE OF REACTIVE ACRYLIC ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 39:
- VALUE SHARE OF REACTIVE ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 40:
- VOLUME OF SOLVENT-BORNE ACRYLIC ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 41:
- VALUE OF SOLVENT-BORNE ACRYLIC ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 42:
- VALUE SHARE OF SOLVENT-BORNE ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 43:
- VOLUME OF UV CURED ADHESIVES ACRYLIC ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 44:
- VALUE OF UV CURED ADHESIVES ACRYLIC ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 45:
- VALUE SHARE OF UV CURED ADHESIVES ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 46:
- VOLUME OF WATER-BORNE ACRYLIC ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 47:
- VALUE OF WATER-BORNE ACRYLIC ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 48:
- VALUE SHARE OF WATER-BORNE ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 49:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED BY COUNTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 50:
- VALUE OF ACRYLIC ADHESIVES CONSUMED BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 51:
- VOLUME SHARE OF ACRYLIC ADHESIVES CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 52:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 53:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, AUSTRALIA, 2017 - 2028
- Figure 54:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, AUSTRALIA, 2017 - 2028
- Figure 55:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, AUSTRALIA, 2021 VS 2028
- Figure 56:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, CHINA, 2017 - 2028
- Figure 57:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, CHINA, 2017 - 2028
- Figure 58:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, CHINA, 2021 VS 2028
- Figure 59:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, INDIA, 2017 - 2028
- Figure 60:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, INDIA, 2017 - 2028
- Figure 61:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, INDIA, 2021 VS 2028
- Figure 62:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, INDONESIA, 2017 - 2028
- Figure 63:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, INDONESIA, 2017 - 2028
- Figure 64:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, INDONESIA, 2021 VS 2028
- Figure 65:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 66:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 67:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 68:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, MALAYSIA, 2017 - 2028
- Figure 69:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, MALAYSIA, 2017 - 2028
- Figure 70:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, MALAYSIA, 2021 VS 2028
- Figure 71:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 72:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 73:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 74:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 75:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 76:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 77:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
- Figure 78:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
- Figure 79:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
- Figure 80:
- VOLUME OF ACRYLIC ADHESIVES CONSUMED, KILOGRAM, REST OF ASIA-PACIFIC, 2017 - 2028
- Figure 81:
- VALUE OF ACRYLIC ADHESIVES CONSUMED, USD, REST OF ASIA-PACIFIC, 2017 - 2028
- Figure 82:
- VALUE SHARE OF ACRYLIC ADHESIVES CONSUMED BY END USER INDUSTRY, %, REST OF ASIA-PACIFIC, 2021 VS 2028
- Figure 83:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, ASIA-PACIFIC, 2019 - 2021
- Figure 84:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2019 - 2021
- Figure 85:
- REVENUE SHARE OF ACRYLIC ADHESIVES BY MAJOR PLAYERS, %, ASIA-PACIFIC, 2021
Asia-Pacific Acrylic Adhesives Industry Segmentation
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging are covered as segments by End User Industry. Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Australia, China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand are covered as segments by Country.
- Acrylic adhesives are widely used in the construction industry because of their applications, such as waterproofing, weather-sealing, cracks sealing, and bonding. China is the fastest-growing country in the Asia-Pacific region, with a CAGR of 5% during the period 2022 to 2028 in terms of consumption of acrylic construction adhesives. The country registered the highest demand for acrylic adhesives used in the building and construction industry owing to rising construction output which registered USD 4.6 trillion by value in 2021, showing 10% growth compared to the previous year.
- Acrylic adhesives are also widely used across the automotive industry because of their applicability to surfaces such as glass, metal, plastic, and painted surfaces, and their features are helpful in the automotive industry, such as extreme weather resistance, durability, and long-lasting. Developing an EV ecosystem in developing Asia is critical for ASEAN nations to expedite consumer adoption and meet their climate targets. Creating tomorrow's EV ecosystems entails significantly expanding the EV value chain by boosting both the supply and demand sides of the equation. The adoption of electric four-wheelers in the Asian markets will continue to be significant. In absolute terms, China will become the largest EV market. On its current trajectory, China's adoption rate will approach 60%, and the country will account for more than 40% of global new EV sales by 2030. This will increase demand for acrylic automotive adhesives in the forecast period (2022-2028).
- Acrylic adhesives are used in the healthcare industry for applications such as assembling medical device parts. The increase in healthcare investments across Asia-Pacific will lead to an increase in their demand in the forecast period.
| End User Industry | |
| Aerospace | |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Other End-user Industries |
| Technology | |
| Reactive | |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne |
| Country | |
| Australia | |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Singapore | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the acrylic adhesives market.
- Product - All acrylic adhesive products are considered in the market studied
- Resin - Under the scope of the study, different kinds of acrylate monomers, like 2-Ethylhexyl acrylate and butyl acrylate are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, Hot Melt, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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