Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 48.76 Billion | USD 72.13 Billion | 5.01% | 2022 |
The global Low VOC Adhesives Market size was worth around USD 48.76 Billion in 2022 and is predicted to grow to around USD 72.13 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.01% between 2023 and 2030.
The low VOC refers to the volatile organic compound that is regarded as non-harmful to humans and the environment. Such low VOC adhesives are utilized to bind particles, metals, wood, and laminate boards. These are also used in binding nonporous surfaces, substrates, lightweight material, and soft foams. Such adhesives possess high strength bonds which makes them suitable for binding cardboard and paper in numerous other applications including case sealing, palletizing, packaging, and labeling. The low-VOC adhesives are also utilized in industrial applications including furniture & upholstery, assembly, and textile.
The low VOC are regarded as eco-friendly adhesives which exhibit exponential bonding capabilities. Such advantages make them perfect for a wide range of applications, which in turn will significantly fuel the growth of the global low VOC adhesives market. There is a significant spike in demand for water-based adhesives owing to their durability, ease of application, flexibility, and economic feasibility. The rapidly proliferating construction and building sector are also likely to fuel the demand for such adhesives in the forthcoming years. The primary reason for which such adhesives are high in demand in the woodworking and construction sector is their potential advantages like stability, high temperature, resistance, and others. Furthermore, these adhesives have the capability to fulfill the surging requirement for strong materials under humid conditions in fresh construction. The emergence of green adhesives due to the growing government regulations will also escalate the growth of the market. However, the growing shift towards a sustainable product portfolio is likely to create several lucrative growth opportunities in the market globally. However, the consumer preference is inclining towards hot melt adhesives, which in turn will also support the growth of the market.
The global low VOC adhesives market can be segmented into end-user, chemistry, technology, and type.
By end-user, the market can be segmented into consumer, transportation, woodworking, building & construction, paper & packaging, and others. The paper & packaging segment accounts for the largest share in the global low VOC adhesives market due to the growing use of these additives in a wide range of applications like corrugated packaging cases and carton & flexible packaging. Case and carton boxes made up of paperboards are utilized for packaging goods. They are utilized in the storage process of poultry & agriculture products, pharmaceutical products, chocolates, biscuits and other industrial purposes.
By chemistry, the market can be segmented into epoxy, polyurethane, EVA emulsion, VAE emulsion, PAE emulsion, PVA emulsion, and others. The PAE emulsion segment dominates the global low VOC adhesives market as these are regarded as environmentally friendly and also offer exceptional properties like superior adhesion, water-based nature, and the presence of fewer VOCs.
By technology, the market can be segmented into reactive, hot melt, water-based, and others. The hot-melt segment holds the largest share in the global low VOC adhesives market as it helps in maintaining exceptional performance throughout the high-speed packaging line.
Asia Pacific accounts for the largest share in the global low VOC adhesives market due to the rapid proliferation of the packaging sector in the region. Furthermore, the growing scope of e-commerce platforms in the region will fuel the requirements for these adhesives in packaging processes. Moreover, the growing disposable income of the people is also likely to contribute significantly towards the growth of the regional market in the forthcoming years. Emerging economies like China are likely to witness exponential growth rates due to the growing need for customized packaging along with surging demand for frozen fruits, snack foods, and ready-to-eat meals.
Report Attributes | Report Details |
---|---|
Report Name | Low VOC Adhesives Market Size Report |
Market Size in 2022 | USD 48.76 Billion |
Market Forecast in 2030 | USD 72.13 Billion |
Growth Rate | CAGR of 5.01% |
Number of Pages | 188 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | Permabond LLC, ARDEX Group, Franklin International, Pidilite Industries Ltd., SCIGRIP, Wacker Chemie, LORD Corporation, Akzo Nobel N.V., Bostik, H.B. Fuller, Sika AG, 3M, and Henkel. |
Segments Covered | BY End-user, BY Chemistry, BY Technology, and By Type |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
What Reports Provides
FrequentlyAsked Questions
The low VOC are regarded as eco-friendly adhesives which exhibit exponential bonding capabilities. Such advantages make them perfect for a wide range of applications, which in turn will significantly fuel the growth of the global low VOC adhesives market. There is a significant spike in demand for water-based adhesives owing to their durability, ease of application, flexibility, and economic feasibility.
Some of the significant players in the global low VOC adhesives market are Permabond LLC, ARDEX Group, Franklin International, Pidilite Industries Ltd., SCIGRIP, Wacker Chemie, LORD Corporation, Akzo Nobel N.V., Bostik, H.B. Fuller, Sika AG, 3M, and Henkel.
Asia Pacific accounts for the largest share in the global low VOC adhesives market due to the rapid proliferation of the packaging sector in the region. Furthermore, the growing scope of e-commerce platforms in the region will fuel the requirements for these adhesives in packaging processes.
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