Emulsion Adhesives Market Forecast to 2023:
Emulsion Adhesives are formed by emulsification and polymerization of acetic vinyl, ethylene vinyl acetate, and acrylic resin in water. These adhesives do not contain organic solvent agent and are non-toxic and non-flammable which make them suitable for use in a wide range of applications which includes labels, furniture, woodworking, decorated plywood, composite materials, panels, paper working, plastics, and cloths among others. Emulsion Adhesives are being widely preferred across numerous end-use industries due to superior benefits such as reduced volatile organic compounds emissions, cost effectiveness, non-toxicity, and feasibility. The various types of Emulsion Adhesives used includes acrylic polymers, polyvinyl acetate (PVA), ethylene vinyl acetate (EVA), polyurethane dispersion (PUD), and styrene-butadiene latex (SB). Among these, acrylic polymers are being widely used in tapes and labels such as envelopes, decal and label applications, and medical tapes as they provide good mechanical stability and high tack & peel strength.
The demand for Global Emulsion Adhesives is mainly driven by increasing use in tapes, labels and packaging. Increasing use of pressure sensitive labels in beverages, food products, and cosmetics & personal care products superior benefits such as self-adhesion, durability, and compatibility is driving the market growth. Expanding packaging industry with rising demand for packaged food and beverages due to convenience and longer shelf life is likely to propel the market growth further.
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Regional Analysis:
The emulsion adhesives market has been segmented, by region, into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the majority share of the emulsion adhesives market in 2017; the regional market is likely to witness significant growth during the review period. This market growth can be attributed to the increasing demand in major end-use industries such as packaging, furnishing, automotive, and construction. Growing packaging industry with rising popularity of packaged food products on account of changing lifestyles and growing working population is propelling market growth. The revenue earned from packaged food products has increased by approximately 36% in the last five years in the region. Additionally, expanding automotive industry with increased production of hybrid and electric vehicles is propelling the market growth in Asia-Pacific. Furthermore, growing demand for furniture on account of significant increase in the residential construction is likely to add to the growth of the emulsion adhesives market during the review period.
North America is a prominent market for emulsion adhesives as a result of the reviving construction industry on account of increased investment in renovation and maintenance of residential buildings to meet growing requirement for modern architecture. This has resulted in increased demand for modern technologically driven furniture and decorated plywood’s, and thus, emulsion adhesives.
The European market is expected to witness significant growth during the review period with the growing packaging industry due to the increasing demand for eco-friendly and premium-quality products.
The market in Latin America is likely to grow at a healthy rate on account of growing packaging and automobile industry.
The Middle East & African market is expected to witness healthy growth during the review period on account of shift from oil-based economy to industrial development, which is likely to result in increased demand for emulsion adhesives.
Key Players
Some of the key players in the global emulsion adhesives market are Wacker Chemie AG (Germany), Emerald Performance Materials (US), Eastman Chemical Company (US), Ashland (US), H.B. Fuller(US), Chemsultants International, Inc. (US), Cemedine Co., Ltd (Japan), 3M (US), Henkel AG & Co. KGaA (Germany), Paramelt (Netherlands), Avery Dennison Corporation (US), and DowDuPont (US).
Segmentation
The global emulsion adhesives market has been segmented by type, application, end-use industry, and region.
Based on type, the market has been segmented into acrylic polymers, polyvinyl acetate (PVA), vinyl acetate ethylene (VAE), styrene-butadiene latex (SB), polyurethane dispersion (PUD), and others.
Based on application, the market has been segmented into tapes & labels, furniture, woodworking, decorated plywood, composite materials, plastics, paper, panels, cloths, and others.
Based on end-use industry, the market has been segmented into packaging, paper working, furnishing, construction, automotive, and others.
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