Market Size of acrylic adhesives Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2028 |
|
Market Size (2024) | USD 15.89 Billion |
|
|
Market Size (2028) | USD 20.14 Billion |
|
Largest Share by End User Industry | Packaging |
|
|
CAGR (2024 - 2028) | 6.10 % |
|
Largest Share by Region | Europe |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Acrylic Adhesives Market Analysis
The Acrylic Adhesives Market size is estimated at 15.89 billion USD in 2024, and is expected to reach 20.14 billion USD by 2028, growing at a CAGR of 6.10% during the forecast period (2024-2028).
15.89 Billion
Market Size in 2024 (USD)
20.14 Billion
Market Size in 2028 (USD)
5.97 %
CAGR (2017-2023)
6.10 %
CAGR (2024-2028)
Largest Market by End-user Industry
59.45 %
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 and tapes.
Largest Market by Technology
77.83 %
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 construction industries.
Largest Market by Region
34.77 %
value share, Europe, 2023
Europe, driven mainly by Germany, United Kingdom, France, and Italy, is the largest regional acrylic adhesives consumer owing to its usage in various end-user industries.
Fastest Growing Market by Region
6.60 %
Projected CAGR, Europe, 2024-2028
With the increasing demand for food and beverage packaging and the building and construction industry, the Europe region is forecast to be the fastest-growing region in the market.
Leading Market Player
7.07 %
market share, 3M, 2021
3M is the leading acrylic adhesives manufacturer globally, owing to its various product offerings for the packaging industry.
Advancement in material technology to augment the growth of acrylic adhesives
- Acrylic adhesives are widely used in the construction industry because of their applications, such as waterproofing, weather-sealing, cracks sealing, and bonding. The construction industry globally is expected to grow 3.5% annually up to 2030. Asia-Pacific and Europe accounted for 67% of the global construction market's growth in 2021. Thus, construction acrylic adhesives account for the largest share of the global adhesives market by volume.
- Adhesives are widely used in the automotive industry because of their application to surfaces such as glass, metal, plastic, and painted surfaces. Their features are helpful in the automotive industry, such as extreme weather resistance, durability, and long-lasting. These are used in engines and car gaskets. The electric vehicles segment of the automotive industry is expected to record a 17.75% CAGR globally in the forecast period, 2022-2028, because of the increased demand in growing economies. This is expected to increase demand for automotive acrylic adhesives in the forecast period 2022-2028.
- Different adhesives are widely used in electronics and electrical equipment manufacturing. They are used for bonding and sealing sensors and cables. The electronics and household appliances industries are expected to record CAGRs of 2.51% and 5.77%, respectively, which will lead to an increase in demand for acrylic adhesives in the forecast period 2022-2028.
- Adhesives are used in the healthcare industry for applications such as assembling medical device parts. The increase in healthcare investments worldwide is expected to lead to an increase in demand for acrylic adhesives in the forecast period 2022-2028.
Understand The Key Trends Shaping This Market
Download Sample
Asia-Pacific and Europe to carry the global demand for acrylic adhesives
- The Asia-Pacific region accounted for the largest share of the demand for acrylic adhesives throughout the entire study period because of the large number of construction and packaging activities, automotive, medical devices, and aerospace production capacities, and other well-established end-user industries in the region. China is the largest construction and automotive market globally and accounted for up to 55% of the demand from the Asia-Pacific region in 2021.
- During 2017-19, the demand for acrylic adhesives witnessed steady growth. The rising demand from construction and packaging industries in Europe and North America were major drivers of growth. The decline of the demand from the automotive industry globally restricted the growth of the demand for acrylic adhesives during this period. declined with a CAGR of 2.89% during this period, 2017-19.
- In 2020, the demand for acrylic adhesives from all end-user industries declined because of the covid-19 pandemic. In some countries like South Africa, and Brazil among others construction activities were deemed essential and were allowed to operate during the pandemic. Factors like these have cushioned the global impact restricting the decline to 6.69%.
- In 2021, due to the relief packages and support schemes in countries like the United States, Australia, and countries in the EU among others, the demand started to recover and this growth trend is expected to continue throughout the forecast period. Increased investments and budget allotments witnessed in countries of Europe, South America, and the Asia Pacific regions are expected to be major driving factors for this growth. The global demand for acrylic adhesives is expected to grow with a CAGR of 4.43% during the forecast period, 2022-2028.
