Acrylic adhesives also known as light curing materials find broad range of applications in the manufacturing sector due to their efficiency in bond strength and short curing time. Acrylic adhesives are used in several industries for their extraordinary strength and durability. Acrylic adhesives delivers fast curing and setting ability and are usually solvent and acid resistant. Acrylic adhesives find vast number of applications in a broad range of industries like automotive, industrial assembly, furniture, electrical & electronics, building & construction and medical among many others. Acrylic adhesives are generally produced by the use of monomers of acrylate andmethacrylate as a major feedstock. Some of the other polymer mixtures are then mixed with the methacrylate or acrylate monomers and hence acrylic adhesives are produced as two distinct entities. One of those entities comprises of oxidizing agents and are generally compounds of peroxide including benzoyl peroxide whereas the other entity comprises of metal salts or amines as reducing agents. The above mentioned entities are further mixed prior to their application. In addition, each entity can be then applied separately with different surfaces which are considered to be glued.
Rising demand for liquid adhesives majorly in carpentry, upholstery, furniture and decorations is one of the major factors anticipated to propel the growth of the global acrylic adhesives market during the forecast period. Also, rising demand for acrylic adhesives in plastics and polymers is expected to bolster the growth of the global acrylic adhesives market owing to increasing demand for acrylic adhesives in thermoplastics. In addition to this, use of acrylic adhesives in binding of two surfaces make the considered surface ready to be handled or moved in a relatively shorter span of time and hence works efficiently on the contaminated surfaces without making any changes in the aesthetics of the concerned surface. Furthermore, propelled growth in the global automotive industry across the globe is further anticipated to bolster the demand for acrylic adhesives thus driving the global acrylic adhesives market. Moreover, increasing demand for acrylic adhesives as and when related to the consumer markets is one of the major factors driving the growth of the global acrylic adhesives market.
The global acrylic adhesives market can be segmented on the basis of end use industry, type and geography. Based on type the market is classified into one component system and two component system .on the basis of end use industry, the global acrylic adhesives market can be bifurcated into electrical and electronics, automotive, building & construction, furniture, medical, industrial assembly and others.
Geographically, the global acrylic adhesives market can be divided into five regions namely North America, Latin America, Europe, Middle East & Africa and Asia Pacific. The robust demand especially in the Asia Pacific region is expected to be one of the key driving factors for the overall growth of the global market. Moreover, China is further projected to account for the highest share in the global market and is anticipated to maintain its lead in the overall demand during the forecast period. This can be accredited to rapid industrialization and rising urbanization during the past few years. The markets in other developing economies such as Brazil, Russia, Indonesia, Poland, New Zealand, Argentina, Korea and India among others are also predictable to witness a rapid growth throughout the forecast period. In addition to this, rising per capita disposable income and surge in the global economy is another key factor which is predictable to bring impetus in the growth of the global market during the forecast period.
Key players functioning in the global market are engaged on some of the major market strategies such as partnerships, mergers, collaborations and acquisitions in order to keep hold in the ever competitive global market. Moreover, they are concentrating on gaining hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market. Key players involved in the manufacture and supply of acrylic adhesives include 3M Corporation, the Dow Chemical Company, Lord Corporation, Henkel AG and Company, Hernon Manufacturing Inc, ITW Devcon, Eastman Chemical Company, Bostik SA, Permabond Engineering Adhesives Ltd among others.
The global acrylic adhesives market can be segmented:
Based on end use:
• Electrical and electronics
• Building & construction
• Industrial assembly
Based on Type:
• One component system
• Two component system
Based on geography:
• North America
• Latin America
• Middle East & Africa
• Asia Pacific