World News: 17:32 GMT Wednesday 11th September 2019. [Reports and Data via Globe Newswire via SPi World News]
New York, Sept. 11, 2019 (GLOBE NEWSWIRE) --
According to the current analysis of Reports and Data, The global water-based adhesives market was valued at USD 15.08 Billion in 2018 and is expected to reach USD 23.35 Billion by the year 2026, at a CAGR of 5.6%. water-based adhesive market is expected to witness for significant growth during the forecast period owing to its useful application in several end-use industries. Additionally, A rise in environmental and safety issues has further enhanced the growth of the market as the water-based adhesive is low in VOC.
A wide range of key end-users earned by the global water-based adhesive market such as those operating in the construction, automotive, and packaging segments are expected to augment the measure of demand during the coming forecast year. Furthermore, a global water-based adhesive market expected impressive growth while riding on various advantages offered by the products, including zero-emission, improved heat resistance, and no residual order.
Water-based adhesives are derived from natural polymers and are expected to find broader applications in several end-use industries. For instance, water-based adhesive derived from an animal is an ultimate choice for a quick set application while bookbinding could mainly employ water-based adhesive prepared from starch-based vegetables. Since the water-based adhesive is free of solvent, it could be safe for use in closed areas with not much ventilation. Applications such as bottle labeling, coating, and paper lamination mostly make use of water-based adhesive.
Based on the geographical perspective, the water-based adhesive market is expected to dominate by Asia Pacific region owing to significant growth in end-use industries such as paints & coatings, packaging, and automotive industries in emerging countries such as China and India. Globally, water-based adhesive manufacturers are planning for new strategies and developments. Such as most of the key players are planning to acquire raw material manufacturers or to set up their manufacturing unit near to industrial zone to lower down the product cost and transportation. Whereas, small players are planning to introduced new applications of water-based resins in their product portfolio tom sustain in the market. Additionally, key players have substantial incremental $ opportunity to gain maximum market value and volume share from the market by introducing innovative products at low prices.
For the purpose of this report, Reports and Data have segmented the water-based adhesives market on the basis of resin type, application and region:
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Globe Newswire: 17:32 GMT Wednesday 11th September 2019
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