Global Reactive & Other Adhesives Market

The automotive adhesives market consists of sales of automotive adhesives products by entities (organizations, sole traders, and partnerships) that are used as binding substances by automotive equipment manufacturers (OEMs) to bond different substrates of metal, eliminating the need for welding and mechanical bolts, welds, and rivets. Adhesives are lightweight components that are used to join metals, composites, plastics, and other materials together. In the automotive sector, adhesives are used to join various automobile components such as closures and structural modules. Adhesives in automobiles assembly successfully and safely solve important applications that have previously relied on mechanical fasteners (e.g., rivets, welds, screws, and clinches) while giving modern automobiles more design freedom and thus, improve the aesthetic appeal of automobiles. Automotive adhesives are frequently utilized in sealing, holding, and structural applications in both the manufacturing and aftermarket of automobiles. The main types of automotive adhesives by resin type include polyurethane, epoxy, acrylics, silicone, SMP (silane modified polymer), MMA (Methyl Methacrylate adhesives), and others. Polyurethane adhesives are thermoplastic glue or polymers that contain organic chain unit copies joined by urethane links. Epoxy adhesives are formed from epoxy or Epichlorohydrin, a compound that produces a hard layer upon complete curing. Acrylics are resin-based adhesive, comprised of acrylic or methyl acrylic polymers. Silicone resin is a liquid form of adhesive, which appears and functions like a gel. SMP sealants are one component, moisture curing products which form permanent elastic bonds. Methyl Methacrylate adhesives are widely used in the automotive and transportation industry. The market is segmented by adhesive type into structural adhesives, tapes and films, threadlocks and retainers, and liquid gaskets. Major applications of automotive adhesives include body in white (BIW), glazing, powertrain, paint shops, and upholstery. By vehicle type, automotive adhesives are mainly used in passenger cars, light commercial vehicles, trucks, buses, and aftermarket. The global automotive adhesives market size is expected to grow from $4.82 billion in 2021 to $5.11 billion in 2022 at a compound annual growth rate (CAGR) of 6.06%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive adhesive market is expected to reach $6.51 billion in 2026 at a CAGR of 6.24%. The rising demand for lightweight and low-carbon emitting vehicles is expected to propel the growth of the automotive adhesives market. With the implementation of stricter emissions laws as a result of increased exhaust emissions, automobile manufacturers are focusing on producing lightweight automobiles to reduce CO2 emissions. Automotive adhesives are used to replace the nuts and bolts, rivets welding, and more to make vehicles lighter and tougher and hence improve fuel economy and reduce emission. For instance, according to Trading Economics, around 12.8 million autos and light-weighted trucks were sold in the USA in November 2021. According to the European Automobile Manufacturers Association (ACEA) report, 28,704 new plug-in electric LCV registrations were recorded in 2019 (up 21.1% from 23,314 in 2018), accounting for 1.3% of the entire automotive market. Hence, the rising demand for lightweight and low carbon-emitting vehicles will drive the automotive adhesives market. The launch of new adhesives is a key trend in the automotive adhesives market. New product launches increase the product portfolio of a manufacturer and help for the rise of market share. For instance, in August 2020, Bostik a leading global adhesive specialist for industrial, construction and consumer markets, launched a new, innovative water-based adhesive, Aquagrip® 3720, for automotive interior assembly applications, which is used for bonding low surface, rigid substrates to the closed-cell foam and foam-backed materials. In October 2021, Arkema launched a new range of high-performance anaerobic adhesives. This adhesive provides engineers with cost-effective, and convenient alternatives to commonly used mechanical fastening solutions such as washers, gaskets, pins, hemp, and tapes. The new anaerobic adhesive has been launched to address the challenges faced by engineers with increasingly demanding environmental and safety regulations, smaller and more complex designs, and more adaptable and faster processes in the automotive, general assembly, and more. In May 2021, Sika AG, a Switzerland-based chemical supplier of the building and automotive industry, agreed to acquire Hamatite, the adhesive business of The Yokohama Rubber Co., Ltd., for an undisclosed amount. The acquisition of Hamatite, which provides adhesives and sealants to the automotive and construction industries, will boost Sika's market position in Japan by improving access to OEMs and the construction industry. Hamatite is a leading brand in the Japanese automotive and construction industries. Polyurethanes, hot melts, modified silicones, and diverse technologies are among the products in its range and are a preferred solution among regional OEMs for glass bonding and hot melt applications. Major players in the automotive adhesives market are Henkel AG & Co. KGaA, Arkema S.A., 3M Company, DuPont de Nemours, Inc, H.B. Fuller Company, Sika AG, Huntsman Corporation, The DOW Chemical Company, Jowat SE, Hexion Speciality Chemicals, Covalence Adhesives, Solvay S.A., Bayer A.G, Hindustan Adhesives Limited, PPG Industries, ITW Performance Polymers, Ashland Speciality Company, Tesa SE, Bostik S.A, Cytec Solvay, and BASF SE. Asia Pacific was the largest region in the automotive adhesives market in 2021. The regions covered in the automotive adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the automotive adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global automotive adhesives market is segmented - 1) By Adhesive Type: Structural, Tapes and Films, Threadlocks and Retainers, Liquid Gaskets 2) By Vehicle Type: Passenger Cars, LCVs, Trucks, Buses, Aftermarket 3) By Resin Type: Polyurethane, Epoxy, Acrylics, Silicone, SMP, MMA, Others 4) By Application: BIW, Glazing, Powertrain, Paint Shops, Upholstery

The chemicals market consists of the sales of chemicals by entities (organizations, sole traders, and partnerships) that produce chemicals based on the transformation of organic and inorganic raw materials by a chemical process and the formulation of products (but excluding beneficiating of mining output, refining of crude petroleum, manufacturing of aluminum oxide, primary metal manufacturing, beverage distilling, tobacco manufacturing). The chemicals industry establishments produce a variety of chemical products by processing raw materials such as air, water, natural gas, oil, metals, and minerals. The main types of chemicals are general chemical products, printing inks, toiletries, soap and cleaning compounds, adhesives, paints and coatings, pesticide and other types of agricultural chemicals, chemical fertilizers, synthetic rubber and fibers, plastic material and resins, ethyl alcohol, and other basic types of organic chemical, and other types of basic inorganic chemical, synthetic dye, and pigment, industrial gas, and petrochemicals. Printing ink is ink used in printing and contains a pigment or pigments of the required color mixed with oil or varnish. The types of intermediate chemicals are methanol, ethylene oxide, and propylene oxide. The end-users involved are pharmaceuticals, agrochemicals, water treatment, construction, paints and dyes, oil and gas, rubber chemicals, surfactants, personal care, and others. The global chemicals market size is expected to grow from $4.24 trillion in 2021 to $4.62 trillion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The global chemical market size is expected to grow to $6.37 trillion in 2026 at a CAGR of 8.4%. Interest rates were low in most developed countries during this period, this positively impacted the growth of the chemicals market. For instance, in 2019, the European Central Bank decreased interest rates to -0.5% on deposits from banks to encourage lending. These low-interest rates encouraged borrowing and increased the flow of money for investment. This allowed chemicals companies to borrow money for process improvements, thus driving the market during the historic period. Increasing costs had a negative impact on the growth of the industrial gas market during the forecast period. This rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments available for research and development of new products. Additionally, companies invested heavily in marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk, and air-freight rates also negatively impacted the market. This rise in operating costs increased the pressure on companies to protect margins while maintaining the quality of their products. Chemical companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enabled chemical companies to utilize alternative fuels to produce chemical products. They are using naturally available carbon dioxide to produce fuels, industrial products, and other substances. For instance, Akzo Nobel N.V a chemicals and coatings giant is planning to make a seven-figure investment into Green Lizard Technologies’ patented process to make surfactants from plants rather than from oils. Major companies in the chemicals market include JXTG Holdings Inc, Sinopec Limited, BASF SE, Procter & Gamble, Unilever plc, L'Oreal SA, Dow Inc, Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Holdings Corp, and Guardian Industries, LLC. Asia Pacific was the largest region in the chemicals market in 2021. North America was the second-largest region in the global chemicals market. The regions covered in the global chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the chemicals market report are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global chemicals market is segmented - 1) By Type: General Chemical Product, Printing Inks, Toiletries, Soap and Cleaning Compounds, Adhesives, Paints and Coatings, Pesticide and Other Agricultural Chemicals, Chemical Fertilizers, Synthetic Rubber and Fibers, Plastic Material and Resins, Ethyl Alcohol and Other Basic Organic Chemical, Other Basic Inorganic Chemical, Synthetic Dye and Pigment, Industrial Gas, Petrochemicals 2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide 3) By End-User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints and Dyes, Oil and Gas, Rubber Chemicals, Surfactants, Personal Care, Others Subsegments Covered:, Oil-Based Printing Inks, Solvent-Based Printing Inks, Water-Based Printing Inks, Lotions (Including Sunscreens), Hair Preparations, Face Creams, Perfumes, Shaving Preparations, Other Cosmetic Preparations, Soap and Other Detergents, Surface Active Agents, Polish and Other Sanitation Goods, Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive and Other Adhesives, Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints and Coatings, Herbicides, Insecticides, Fungicides, Other Pesticide and Other Agricultural Chemicals, Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer, Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber and Fibers, Polypropylene-Plastic Material and Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins, Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum and Wood Chemicals Synthetic Dye, Synthetic Pigments, Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas, Ethylene-Petrochemicals, Propylene-Petrochemicals, Benzene-Petrochemicals, Xylene, Styrene-Petrochemicals, Toluene, Cumene, Other Petrochemicals

The hot-melt-based adhesives market consists of sales of hot-melt-based adhesives. Hot-melt-based adhesives are known as hot glue, a form of thermoplastic adhesive that is heated to create a melt before applying to the surface and is designed to be melted in an electric hot glue gun. The main types of hot-melt-based adhesives are thermoplastic polyurethane, ethylene vinyl acetate, styrenic-butadiene copolymers, polyolefins, polyamide, and other resin types. Polyamide is a polymer in which the amide group (CONH) connects the monomer units. The hot-melt-based adhesives are applied in packaging solutions, nonwoven hygiene products, furniture and woodwork, bookbinding, and other sectors that are used by building and construction, packaging, transportation, electrical and electronic appliances, healthcare, and other industries. The global hot-melt-based adhesives market size is expected to grow from $14.14 billion in 2021 to $15.58 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global hot-melt-based adhesive market size is expected to grow to $22.13 billion in 2026 at a CAGR of 9.2%. With growing awareness to preserve the environment, customers/consumers are fetching for eco-friendly products. Features like affordability, non-release of VOC into the environment, longer shelf life, reusability without degradation, and fast-drying ability are making hot melt adhesives as environmentally friendly adhesives when compared to other adhesives. For example, companies such as Bostik, is providing hot-melt polyurethane adhesive for the textile industry by using a solventless technology that reduces the usage of hazardous solvent like methylene chloride. There is a visible success of hot-melt polyurethane adhesive in underwear, sportswear, and medical garment manufacturers in Asia. The increasing demand for hot-melt polyurethane adhesives will drive the hot melt adhesives market. Many products produced by adhesives companies are potentially hazardous during the manufacturing stages. This is mainly because the manufacturing processes involve high temperatures and high-pressure reactions which can be dangerous unless controlled carefully. In addition, some of these manufactured dyes harm both living organisms and the environment. Due to this, regulations in the adhesives industry – in assessing and managing the risks involved in the manufacturing, transporting, and disposing of chemicals – increased in the historic period. Adhesives have to be compliant with complex regulations that govern the labeling, handling, manufacturing, shipping, and storage of the product. Additional compliance costs for these changing regulations, as different countries and geographies have different regulations, were a major restraint for hot melt-based adhesives companies. Many hot melt-based adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. Major players in the hot-melt-based adhesives market are Jowat Se, Sika AG, Tex Year Industries Inc., DowDuPont, Costchem SRL, American Chemical Inc., Bostik Inc., Huntsman Corp., Beardow & Adams Ltd., and Hexcel Corporation. Asia Pacific was the largest region in the hot-melt-based adhesives market in 2021. North America was the second-largest region in the hot-melt-based adhesive market. The regions covered in the hot-melt-based adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the hot melt-based adhesives market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global hot-melt-based adhesives market is segmented - 1) By Type: Thermoplastic Polyurethane, Ethylene Vinyl Acetate, Styrenic-butadiene Copolymers, Polyolefins, Polyamide, Other Resin Types 2) By Application: Packaging Solutions, Nonwoven Hygiene Products, Furniture and Woodwork, Bookbinding, Others 3) By End-User: Building and Construction, Packaging, Transportation, Electrical and Electronic Appliances, Healthcare, Others

The solvent based coatings market consists of sales of solvent-based coatings. Solvent based coatings contain organic compounds like solvents and constitute liquefying agents that evaporate through a chemical reaction with oxygen. The main types of solvent-based coatings are one component system solvent-borne coating and two-component system solvent-borne coating. A two-component (2K) solvent-borne coating formulation consisting of dispersion, as a first component and an acrylate binder with hydroxyl functionalities. The solvent-based coatings are applied in automotive solvent-borne coatings, industrial solvent borne coatings, and printing inks that are used in utilities, oil and gas industry, manufacturing industry, hospitals, and other industry verticals. The global solvent based coatings market size is expected to grow from $34.29 billion in 2021 to $38 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The global solvent based coating market size is expected to grow to $55.52 billion in 2026 at a CAGR of 9.9%. Solvent based coatings are beneficial in humid environments. The time required to dry for solvent based coatings is very less when compared to the water-based coatings which are less efficient in humid environments. Solvent based coatings are composed of liquefying agents that help speed up the drying process through a chemical reaction with oxygen available in the environment. This nature of solvent based coatings makes it is easy to apply in a humid environment and at different temperature zones. Moreover, many industries prefer solvent based coatings to avoid chemical reactions owing to their quick drying nature. For example, companies like Jamestown Coating Technologies produce industrial paints, which are solvent based and are more durable when compared to water based coatings. Thus, the nature of quick-dry in solvent based coatings benefits its application in humid environments and thereby contributes to the growth of the solvent based coatings market. Solvent based coating release Volatile Organic compounds (VOC) into the environment causing environmental damage and affecting human health. VOCs are carbon compounds that become gas at room temperature and become the main reason for air pollution. Governments across the world are coming up with different regulatory acts to curb the emission of VOC. For instance, to reduce the emission of VOC, Hong Kong government has implemented a regulation that restricts products exceeding the standard emission of VOC in the country. Thus, the emission of VOC in the atmosphere from solvent based coatings limits the growth of the market. The adoption of PET technology is increasing as it enables the homogenous distribution of mineral particles during painting. It is an acrylic polymer capable of encapsulating mineral pigments in the organic phase, which is a solvent phase. The main performance of the coatings comes from the bulk of the binder composition, however additional polymer features such as crosslinking, oxidative or UV (Ultra Violet) curing, and specific morphology can boost overall performance, improving the dirt pick up resistance in most cases. PET technology is being widely adopted by many customers and establishments to improve paint longevity and enhance resistance to climate variations and dirt from manmade and natural sources. Some of the major companies that adopted this technology are Vermont Photo Inkjet, AkzoNobel N.V, Sherwin-Williams Company, and RPM International Inc. Major players in the solvent based coatings market are BASF, AkzoNobel, PPG, Sherwin-Williams, Henkel, Valspar, 3M, HB Fuller, Eastman Chemical Company, and Arkema SA. Asia Pacific was the largest region in the solvent based coatings market in 2021. Western Europe was the second-largest region in the solvent based coating market. The regions covered in the solvent based coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solvent based coatings market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global solvent based coatings market is segmented - 1) By Type: One Component System Solvent Borne Coating, Two Component System Solvent Borne Coating 2) By Application: Automotive Solvent Borne Coatings, Industrial Solvent Borne Coatings, Printing Inks 3) By Industry Vertical: Utilities, Oil and Gas Industry, Manufacturing Industry, Hospitals, Others

The solvent-based adhesives market consists of sales of solvent-based adhesives that are formulated on an elastomer dissolved in a solvent or phenolic/formaldehyde resins dissolved in a solvent. The main types of solvent-based adhesives are polyurethane, styrenic block, and ethyl vinly acetate. Ethylene vinyl acetate (EVA) is a copolymer made up of ethylene and various quantities of vinyl acetate. The solvent-based adhesives are used in paper and packaging, building and construction, woodworking, automotive and transportation, and other sectors that are distributed through direct sales and distributors. The global solvent-based adhesives market size is expected to grow from $12.6 billion in 2021 to $13.4 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The global solvent-based adhesive market size is expected to grow to $16.55 billion in 2026 at a CAGR of 5.4%. The solvent-based adhesives market is expected to benefit from growth in the automobile manufacturing industry during the forecast period. There is a drive for the production of lightweight automobiles which is leading to an increase in demand for adhesives and sealants. These adhesives and sealants are used in place of welded joints, mechanical fasteners, and gaskets and help reduce the weight of the automobile. Thus, the rising demand for lightweight automobiles is expected to increase the demand for solvent-based adhesives during the forecast period. Stringent safety regulations associated with the manufacturing and transportation of adhesive chemicals are acting as a restraint on the market. Adhesives are highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this industry are required to invest in equipment, technologies, and processes to limit toxic levels and chemical contamination. These regulations increase operating costs for companies, thus limiting investments for business growth. Companies in the solvent-based adhesives market are adopting IoT (Internet of Things) technologies to connect equipment, smart devices to gather real-time insights and optimize the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. In November 2020, Pidilite Industries, an Indian adhesives manufacturing company acquired Huntsman Corporation for $ 28558.8 million. Through this acquisition, Araldite will add to the already very strong portfolio of Pidilite Industries adhesives and sealants and will complement Pidilite Industries' retail portfolio. Huntsman Corporation is an American manufacturer and marketer of chemical products for consumers and industrial customers. Major players in the solvent-based adhesives market are 3M, Alfa International Corporation, Arkema Group (Bostik SA), Ashland Inc., Avery Dennison Corp., Everad Adhesives SAS, DowDuPont, H.B. Fuller Company, Henkel AG & Co. KGaA, and Huntsman Corp. Asia Pacific was the largest region in the solvent-based adhesives market in 2021. North America was the second-largest region in the solvent-based adhesive market.The regions covered in the solvent-based adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solvent-based adhesives market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global solvent-based adhesives market is segmented - 1) By Type: Polyurethane (PU), Styrenic Block, Ethyl Vinly Acetate (EVA) 2) By End-User Industry: Paper and Packaging, Building and Construction, Woodworking, Automotive and Transportation, Others 3) By Distribution Channel: Direct Sales, Distributor

The water-borne coatings market consists of sales of water-borne coatings. Waterborne coatings use water as a solvent to spread a resin, making them environmentally safe and simple to apply. The main types of water-borne coatings are acrylic, epoxy, polyurethane, polyester, alkyd, polyvinylidene chloride (PVDC), polyvinylidene fluoride (PVDF), and others. Polyurethane is a type of plastic that is commonly used to manufacture paint or substances that prevent water or heat from getting through. The water-borne coatings are applied in appliances, automotive, architectural, marine, packaging, wood, and general industry that are used by building and construction, automotive, industrial, wood, and other sectors. The global water borne coatings market size is expected to grow from $100.41 billion in 2021 to $107.58 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The global water borne coating market size is expected to grow to $137.33 billion in 2026 at a CAGR of 6.3%. There is a rapid growth in the consumption of water-borne coatings in many industries such as automotive, construction, and manufacturing. Water-borne coatings are widely used in printing inks, in the automotive OEM sector, plastics, and other manufacturing industries. Therefore, growth in end-user industries is expected to drive the market for water borne coatings. Increasing costs are acting as a restraint on the water borne coatings market. The rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments in research and development of new products. For instance, in India, raw material costs for coatings producers generally were around 57.6% of total sales in 2019. Additionally, companies invested heavily in marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk, and air-freight rates also negatively impacted the market. This increase in operating costs increased pressure on companies to protect margins while maintaining the quality of their products. Smart coatings and high-performance coating technologies are being adopted by companies to enhance the efficiencies of coating compounds. Nanocoatings, are a type of smart coating that has extremely tiny particles and unique characteristics such as flexibility, resistance to corrosion, and micro bacterial growth. Fluoropolymer coating is known for its high-performance properties such as long-life cycle and high cost-efficiency. Major players in the water-borne coatings market are BASF SE, Axalta Coating Systems LLC, Berger Paints India Ltd, Kansai Paint Co. Ltd., Nippon Paint Holdings Company Ltd, PPG Industries Inc., RPM International Inc., The Sherwin-Williams Company, The Valspar Corporation, and Tikkurila Oyj. Asia Pacific was the largest region in the water-borne coatings market in 2021. Western Europe was the second-largest region in the water-borne coatings market. The regions covered in the water-borne coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the water borne coating market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global water borne coatings market is segmented - 1) By Type: Acrylic, Epoxy, Polyurethane, Polyester, Alkyd, Polyvinylidene Chloride (PVDC), Polyvinylidene Fluoride (PVDF), Others 2) By Application: Appliances, Automotive, Architectural, Marine, Packaging, Wood, General Industrial 3) By End-User Industry: Bilding and Construction, Automotive, Industrial, Wood, Others

The water-based adhesives market consists of sales of water-based adhesives. Water-based adhesives are formulated either from natural polymers or soluble synthetic polymers which may be supplied as solutions or formulated as dry powders. The main types of water-based adhesives are acrylic polymer emulsion (PAE), polyvinyl acetate (PVA) emulsion, vinyl acetate ethylene (VAE) emulsion, styrene butadiene (SB) latex, and polyurethane dispersion (PUD). Vinyl acetate ethylene (VAE) emulsions are made by copolymerizing vinyl acetate and ethylene, with the vinyl acetate percentage ranging from 60 to 95 percent and the ethylene content ranging from 5 to 40% of the whole formulation. The product types are vinyl acetate adhesives, starch/dextrin adhesives, rubber latex adhesives, protein/casein adhesives, and other types that are used in paper and packaging, building and construction, automotive and transportation, and other sectors. The global water-based adhesives market size is expected to grow from $33.11 billion in 2021 to $37.09 billion in 2022 at a compound annual growth rate (CAGR) of 12.0%. The global water-based adhesive market size is expected to grow to $56.43 billion in 2026 at a CAGR of 11.1%. The adhesives market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India’s GDP is expected to grow at 7.3%, whereas China is forecasted to register a GDP growth of 6.2% in 2019. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the growth of the adhesives market during the forecast period. Slower drying and freezing at low temperatures are the major issues with water-based adhesives. Due to the volatile characteristics of water, the drying process is taking long hours and the work process might be delayed. For example, companies such as Henkel are producing Technomelt adhesives which are hot melt adhesives in the automotive and furniture industry as they are quick to dry adhesives. Thus, the slower drying nature is limiting the growth of water-based adhesives. Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. In November 2020, Pidilite Industries, an Indian adhesives manufacturing company acquired Huntsman Corporation for $ 28558.8 million. Through this acquisition, Araldite will add to the already very strong portfolio of Pidilite Industries adhesives and sealants and will complement Pidilite Industries' retail portfolio. Huntsman Corporation, is an American manufacturer and marketer of chemical products for consumers and industrial customers. Major players in the water-based adhesives market are Henkel, H.B. Fuller, Arkema (Bostik), Sika, Dowdupont, DIC, 3M, Illinois Tool Works, Ashland, and Mapei. Asia Pacific was the largest region in the water-based adhesives market in 2021. North America was the second-largest region in the water-based adhesive market. The regions covered in the water-based adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the water-based adhesives market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global water-based adhesives market is segmented - 1) By Type of Resin: Acrylic Polymer Emulsion (PAE), Polyvinyl Acetate (PVA) Emulsion, Vinyl Acetate Ethylene (VAE) Emulsion, Styrene Butadiene (SB) Latex, Polyurethane Dispersion (PUD) 2) By Product Type: Vinyl Acetate Adhesives, Starch/Dextrin Adhesives, Rubber Latex Adhesives, Protein/Casein Adhesives, Others 3) By Application: Tapes and Labels, Paper and Packaging, Building and Construction, Automotive and Transportation, Others (Consumer and DIY, Leather and Footwear, Sports and Leisure, and Assembly)

The adhesives market consists of the sales of adhesives, glues, and caulking compounds by entities (organizations, sole traders, or partnerships) that produce adhesives, glues, and caulking compounds. The main types of adhesives are water-based adhesives, solvent-based adhesives, hot-melt-based adhesives, reactive and other types of adhesives. Water-based adhesives are formulated with natural and synthetic polymers that will readily dissolve in water. They harden by evaporating water or by absorption of water into the porous substrate. The product types are acrylic, PVA, polyurethanes, styrenic block, epoxy, Eva, and other product types. The various applications involved are packaging, construction, laminates, woodstock and furnishing, automobile, footwear, and other applications. The global adhesives market size is expected to grow from $69.74 billion in 2021 to $76.77 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global adhesive market size is expected to grow to $109.28 billion in 2026 at a CAGR of 9.2%. During the historic period, technological development was a key driver of the global economy. Industries such as the adhesives industry which involve technology benefited from this trend. Technologies such as hot melts, reactive acrylics, and UV systems became popular because of their safety and energy efficiency. Adhesives also replaced mechanical fastening systems due to better performance and overall lower costs. These factors drove the grwoth of the adhesives market during the historic period. Increasing geopolitical tensions had a negative impact on the adhesives market during the historic period. Repercussions of geopolitical tensions included sanctions on Russia, trade protectionism, and heightened military tensions in Middle East. Many countries placed trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed tariffs on $550 billion worth of Chinese goods including chemicals and plastics as of January 2020. Continued violence and terrorism in Middle East and other parts globally are also expected to have a negative impact on the market. Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to obtain real-time insights and identify inefficiencies in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. Major companies in the adhesives market include Henkel AG & Co KGaA, Sika AG, 3M Company, Arkema SA, H.B. Fuller, MAPEI, DuPont Inc, Beiersdorf AG, Sekisui Chemical Co Ltd, and RPM International Inc. Asia Pacific was the largest region in the adhesives market in 2021. North America was the second-largest region in the global adhesives market. The regions covered in the global adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the adhesives market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global adhesives market is segmented - 1) By Type: Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive & Other Adhesives 2) By Product Type: Acrylic, PVA, Polyurethanes, Styrenic Block, Epoxy, EVA, Others 3) By Application: Packaging, Construction, Laminates, Woodstock and Furnishing, Automobile, Footwear, Others