Global acrylic resin hotmelt adhesive agent market predicted to propelling due to the growing application in packaging, oil and gas, plastic, construction, automotive, and transportation
acrylic resin hotmelt adhesive
The global acrylic resin hotmelt adhesive agent market growth is likely to grow at a significant CAGR of over the forecast period, 2020-2027. The key factors are increasing application of acrylic resin hotmelt adhesive agents in the manufacturing of disposable non-woven/hygiene products such as feminine care products, baby diapers (nappies), and adult incontinence articles. Further, low-density hotmelt adhesive products are favored by customers for their advantages, such as saving resources and reducing energy consumption. Additionally, the acrylic hotmelt resin offers less or no VOC. It provides an eco-friendly option compared to solvent-based substitutes, and the environment-friendly characteristics will fuel the growth of the market in the coming years. With the increasingly difficult environmental protection situation, people's environmental awareness has prompted various industries to adopt more environmentally friendly products.
Moreover, the acrylic resin hotmelt adhesive agent is employed extensively in packaging applications such as case sealing, corrugated waxed board, tray forming, carton sealing of standard bleached sulfate, heat sealing, and container labeling. These factors will spur the global acrylic resin hotmelt adhesive agent market size in the forecast span. The awareness of technological advancement in polymer bases, especially the improvement of sanitation technology, is expected to increase the demand for acrylic resin hotmelt adhesive agent during the forecast period. The development of specially engineered adhesive resins for the assembly of aircraft and automotive bodies and its benefits such as corrosion protection, mechanical strength, etc. will boost the market's growth. The growing demand for acrylic resin hotmelt adhesive agents in the manufacturing of smart homes and wearable devices will trigger the expansion of the market. The acrylic resin hotmelt adhesive agent is served in various industries, such as packaging, due to their high stability and strength, making them a suitable alternative to solvent-borne adhesives.
Active Content Market Overview in the Global Acrylic Resin Hotmelt Adhesive Agent Market
Based on the active content, the global acrylic resin hotmelt adhesive agent market classified into up to 20 percent, 21 - 40 percent, and above 40 percent. The above 40 percent segment estimated to dominate the acrylic resin hotmelt adhesive agent market by 2027. Due to economic feasibility and high performance, and it offers superior heat & UV resistance, low-temperature flexibility, and high toughness, which is utilized in packaging, footwear, and electronics applications.
Application Overview in the Global Acrylic Resin Hotmelt Adhesive Agent Market
Based on the application, the global acrylic resin hotmelt adhesive agent market segregated into automotive, medical, infrastructure, consumer goods, construction, food beverages, and personal care. The automotive will be the fastest-growing segment in the forecast period. It is attributable to acrylic resin hotmelt adhesive agent ability to provide a superior bond and strong resistance against heat, moisture, and chemicals and to reduce vehicle weight and boost increase fuel efficiency.
The medical segment estimated to grow at a significant CAGR. It is due to acrylic resin hotmelt adhesive agents used in medical dressings, hospital bed pads, and surgical drapes.
Regional Overview in the Global Acrylic Resin Hotmelt Adhesive Agent Market
By geography, the global acrylic resin hotmelt adhesive agent market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific accounted for the maximum revenue share in 2019 due to the expanding packaging industries in the region, the rise in demand for these adhesives in food packaging, and the upsurge in awareness about healthcare.
Global Acrylic Resin Hotmelt Adhesive Agent Market: Competitive Landscape
Companies such as BASF SE, Mitsubishi Chemical Holdings Corporation, DIC Corporation, Estron Chemicals Inc., Toyochem and Pioneer Chemical Co., Ltd., are the key players in the global acrylic resin hotmelt adhesive agent market.
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