The size of the acrylic adhesives market was over $8,964. million in 2021, and it will grow at a rate of about 6% in the near future, to reach a value of over $14,921 million by 2030. The growth is mainly because of the increasing demand for eco-friendly and scientifically advanced acrylic adhesives in different industries. These materials have an extensive range of use in transportation, packaging, woodworking, automotive, and several other areas.
Europe is the region producing acrylic adhesives in large quantities, while the U.S. can import them. Thus, the U.S. will observe a massive increase in product sales in the coming years. Economic performance will rally in Europe and North America, consequently allowing for an increase in investments in manufacturing and research and development, while the Peoples Republic and Japan withstand the existing industrial development.
The food & beverage industry of Europe follows a stringent regulatory framework, for curbing GHG emission levels. This has resulted in a considerable surge in the funding of bio-based products by manufacturers in the nation. The increasing rate of industrialization and thriving e-commerce industry are also major factors responsible for industrial growth. Water-based acrylic adhesives have gluing, wood, product assembly, laminating, labeling, bookbinding, foam fabricating, and numerous other applications.
Furthermore, these nations’ construction industries will expand in the years to come because of the rising count of planned projects, which are in the developmental phase. For example, China will have 400 airports for passengers and cargo by 2035. Aldo, the government has planned the relocation of 250 million people to megacities in the next decade.
The increasing penetration of these adhesives in the automotive and aerospace sectors has contributed significantly to the rising demand for the same across the globe.