Global Water-Based Adhesive Market is segmented By Resin Type (Acrylics, Polyvinyl Acetate, Polyurethane Dispersions, Others), By End User (Building and Construction, Woodworking, Paper & Packaging, Automotive, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Report analyses the Global Water-Based Adhesive Market size, shares, recent trends, competitive intelligence, and future market outlook. Demand from Building and Construction, Automotive, and Paper & Packaging in Asia Pacific is rising. Competitive rivalry intensifies with Henkel Corporation, Sika AG, Arkema Group and others operating in the market.
Water-based adhesives are a mixture, either in a liquid or semi-liquid form, to bond one surface to another.
Water-Based Adhesive Market Summary
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Metrics |
Details |
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Market CAGR |
10.8% |
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Segments Covered |
By Resin Type, By End User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Water-Based Adhesive Market Dynamics
Major drivers for the growth of this market are the variety, flexibility, and economic practicality of water-based adhesives
The demand for water-based adhesives is ever-increasing. These adhesives set quickly and form powerful bonds that will remain strong for an extended period of the adhesive market unless exposed directly to excess water or moisture. Water-based adhesives also serve an important purpose in product assembly in industries like packaging and woodworking (furniture products and boxes) and lamination applications in the graphic arts industry, creating a significant demand for water-based adhesives in the forecast period.
Further, waterborne adhesives' major benefits are the absence of volatile organic compounds (VOCs) and ease of clean-up after application. Many paints and finish manufacturers such as Rohm and Haas, Behr, and Benjamin Moore offer low or no-VOC products for various woodshop applications. For example, Monocoat company product contains no VOCs, nor does it contain other harmful chemicals. Its clear-color oil is a pigment-free, natural finish that adds a slight amber tone to the wood.
Stringent regulatory policies may hinder market growth in the coming years.
COVID-19 Impact on Water-Based Adhesive Market Growth
The COVID-19 pandemic has harmed the global water-based adhesive market. The disturbances in supply chain management and transportation of goods and services harmed the growth of the market. Many manufacturing and production units were disrupted due to the government-enforced lockdowns and curfews across the world which led to losses and wastage of many water-based adhesive products. The pandemic also significantly changed consumer demand and behavior. Consumers refrained from purchasing non-essential products amid the pandemic thereby impacting the sales of water-based adhesive products. The uncertain and unexpected situation caused by the pandemic significantly impacted the market hence, slowing its growth. There was a steep decline in the demand for water-based adhesives due to the lockdowns and travel restrictions in almost all countries which negatively affected the growth of the market. But the post-pandemic situation has improved. The market has recovered and is set to grow at a high rate.
Water-Based Adhesive Market Segmentation
Based on the end user, the global water-based adhesive market is broadly segmented and classified into building and construction, woodworking, paper & packaging, automotive, and others
Among all these end-users, paper & packaging dominate the market in terms of a long-lasting, high-strength bond and low-VOC content. Woodworking is also anticipated to remain a strong contributor in the forecast period's water-based adhesive market, owing to its specific design and high quality. Several next-generation adhesive solutions address the growing demand from wood furniture and flooring manufacturers for materials that reduce hazardous emissions in their finished goods, considering that wood naturally emits VOCs.
Further, the companies aim to strengthen their global market position through their product portfolio to design several next-generation adhesive solutions. For instance, in April 2019, H.B. Fuller specifically designed several next-generation adhesive solutions to address the growing demand from wood furniture and flooring manufacturers for materials that help reduce hazardous emissions in their finished goods, considering that wood naturally emits VOCs. These new products include Rakoll 4933, a formaldehyde-free, water-based adhesive; Rakoll 5010, a low monomer emission reactive hot melt adhesive; and a range of NEP-free primers for edge-banding applications.
Global Water-Based Adhesive Market Geographical Share
Based on the region, the global water-based adhesive market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
The Asia Pacific dominated the global water-based adhesive market among all regions due to growing demand from the automotive industry. The rising volumes of production and an increase in the number of variants of vehicles sold around the globe have further propelled the demand for the water-based adhesive market. Also, water-based products provide an excellent alternative to solvent-based adhesives. These products significantly reduce VOC emissions in the manufacturing process. Low-viscosity compounds also perform consistently well in OEM tests, making water-based adhesives a great way to ensure that vehicles do not emit volatile chemicals. This technology will function optimally with a permeable substrate; if the door panel is composed of different fabrics such as foam and leather, this could be ideal for the manufacturer.
Furthermore, as per the International Organization of Motor Vehicle Manufacturers (OICA) in 2019, in the Asia Pacific and the Middle East region, the total number of commercial vehicles sold was around 8,043,351 vehicles, heavy trucks, buses, and coaches. This is expected to provide huge opportunities for manufacturers and distributors seeking to extract profits from this market.
Water-Based Adhesive Companies and Competitive Analysis
The global water-based adhesive market is fragmented with the presence of many local and international players. The versatility in product features and market growth opportunities through new product launches are poised to intensify competitiveness among companies. The companies are focused on product launches to increase water-based adhesive demand across specific applications.
Major players in the market include 3M Company, Henkel Corporation, H.B. Fuller Company, The Dow Chemical Co., Sika AG, Applied Adhesives, Palmetto Adhesives Company, Solenis, BASF SE, Arkema Group (Bostik SA), etc.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions. For instance, in January 2018, Arkema Inc. introduced its innovative line of Kynar Aquatec PVDF latex solutions for high-performance roof coating systems, along with Bostik, Inc. adhesive and sealant products, at the Ernest N. Morial Convention Center in New Orleans. In October 2017, H.B. Fuller acquired Royal Adhesives & Sealants for $1.6B. In May 2019, Sika completed the acquisition of Parex. All these acquisitions have helped in the growth of the water-based adhesive market.
3M Company
Overview: 3M is an American company that operates in the fields of industry, worker safety, US health care, and consumer goods
Product Portfolio: The company products include abrasives, adhesives, sealants, fillers, automotive parts, etc.
Key Developments
- In October 2019, 3M completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide for a total enterprise value of approximately $6.7 billion, including the assumption of debt and other adjustments.
Why purchase the report?
- Visualize the composition of the global water-based adhesive market products across each indication, in terms of Resign Type and end-user, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the water-based adhesive products market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the water-based adhesive products levels 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the essential water-based adhesive of all major market players.
Target Audience2024
- Equipment Suppliers/ Buyers
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
