NEW YORK, May 4, 2022 /PRNewswire/ -- The low VOC adhesives market size stood at $47.6 billion in 2021, and it is expected to rise at a CAGR of 6.1% and reach $81.1 billion during 2021-2030. The major factor ascribing to the growth of the market is the implementation of strict regulations by governments to limit the VOC content in products, for environmental safety. Apart from this, the increasing awareness about the green and sustainable construction of buildings is driving the consumption of such bonding materials.
During the COVID-19 pandemic, the implementation of lockdowns hindered activities across industries and also affected the market, though the paper, packaging, and healthcare industries portrayed positive growth because of the rise in the volume of online orders and health problems. This offset a proportion of the adverse impact on the industry during the pandemic.
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Key Findings of Low-VOC Adhesives Market Report
- The growth in the demand for eco-friendly and sustainable adhesives is creating opportunities for manufacturing companies, as countries are implementing low-carbon standards and protocols.
- The introduction of innovative low-VOC adhesives for several industries, including paper and packaging, building and construction, and automotive and transportation, has a lot of opportunities to offer.
- The APAC low-VOC adhesives market is expected to account for the fastest growth in the coming years. This is because countries such as India, China, and South Korea, apart from Southeast Asian nations, are enticing market players to set up production units. The low labor costs and widening customer base are the major factors for the same.
- The water-based adhesive technology is leading the market because of its advantages over solvent-based adhesives, for instance, user-friendliness, easy applicability, low activation temperatures, minimum health risks, and no release of toxic fumes. Additionally, most water-based adhesives are based on polyvinyl acetate resin.
- Polyvinyl acetate is used as an important synthetic resin in low-VOC adhesive formulations, as it brings about high performance and adaptability, together with environment-friendliness.
- Investments by companies in developing countries, cognizance about the green and sustainable construction of buildings, and shift toward low-carbon-emitting vehicles are driving the low-VOC adhesives market advance. Thus, in 2021, Henkel announced the construction of a new Adhesive Technologies Innovation Center in Shanghai, China, investing about $65 million.
The key players in the low-VOC adhesives market are 3M Company, Akzo Nobel N.V., Ashland Global Holdings Inc., H.B. Fuller Company, Huntsman Corporation, Henkel AG & Co. KGaA, Sika Services AG, Bostik, Pidilite Industries Ltd., PPG Industries Inc., and Wacker Chemie AG.
Browse detailed report on Low VOC Adhesives Market Trends, Business Strategies and Analysis Through 2030
The high penetration of online shopping in APAC is driven by the rising income levels and swelling consumption power of individuals, which, in turn, are leading to the increasing demand for low-VOC adhesives for packaging. A study by Facebook states that the average online spending in Southeast Asian countries augmented from $238 per person in 2020 to $381 per person in 2021. Additionally, the aerospace and automotive industries are the main consumers of low-VOC adhesives in the region.
Low-VOC Adhesives Market Size Breakdown by Segment
By Technology
- Water-Based Adhesives
- Reactive Adhesives
- Hot-Melt Adhesives
- Pressure-Sensitive Adhesives
By Resin
- Polyvinyl Acetate
- Acrylic
- Polyurethane
- Ethylene-Vinyl Acetate
- Epoxy
- Styrenic Block
By End Use
- Paper & Packaging
- Building & Construction
- Furniture
- Automotive & Transportation
- Footwear & Leather
- Consumer & DIY
- Medical Devices
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- U.A.E.
- Saudi Arabia
- South Africa
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