UV Curing System Global Market Report 2023 – By Type (Spot Cure, Flood Cure), By Technology (Mercury Lamp, Microwave Lamp, Arc Lamp, UV LED), By Pressure Type (High Pressure, Medium Pressure, Low Pressure), By Application (Printing, Bonding and Assembling, Coating and Finishing, Disinfection, Others), By End User (Aerospace and Defense, Automotive and Transportation, Construction and Architectural, Semiconductor and Electronics, Medical, Others) – Market Size, Trends, And Global Forecast 2023-2032

Printing inks are liquids that contain pigments or dyes that are used to produce images, text, and designs. They are widely used in letterpress and lithographic printing. Printing inks consist of a pigment or pigments of the required color mixed with oil or varnish. For example, black ink made from carbon black is mixed with thick linseed oil or similar oil, often with rosin oil to which rosin varnish is added. Inkjet inks consist of a base carrier such as water, oil, or a solvent, and colorants such as dyes or pigments, along with small amounts of chemical additives to provide some unique characteristics. The main types of printing inks are oil-based printing inks, solvent-based printing inks, and water-based printing inks. Water-based printing ink is ink made with water rather than plastic or PVC. The product types are offset printing inks, flexographic printing inks, rotogravure printing inks, and digital printing inks. The various end-use industries involved are packaging, print media, commercial printing, and other end-use industries. The global printing inks market is segmented - 1) By Type: Oil-Based Printing Inks, Solvent-Based Printing Inks, Water-Based Printing Inks 2) By Product Type: Offset Printing Inks, Flexographic Printing Inks, Rotogravure Printing Inks, Digital Printing Inks 3) By End User Industries: Packaging, Print Media, Commercial Printing, Other End-Use Industries The global printing inks market size will grow from $29.68 billion in 2022 to $30.38 billion in 2023 at a compound annual growth rate (CAGR) of 2.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of printing inks is expected to grow to $33.78 billion in 2027 at a CAGR of 2.7%. 3D technology will be a driver of the printing ink market during the forecast period. With a rise in worldwide interest in 3D printing technology from consumers, researchers, and industrial production, there is expected to be a high demand for 3D printing inks. Unlike 2D inks, which are intended for the fabrication of planar surfaces, 3D inks are intended for the fabrication of volumetric constructs and devices. In November 2021, Cubic Ink® materials from ALTANA and DP Polar are revolutionizing industrial 3D inkjet printing. Multi-material capability for maximum productivity for a wide variety of printing materials is processed using the continuous Multi-material Jetting process. Major companies in the printing inks market include DIC Corporation, Arkema SA, Sakata INX Corporation, Siegwerk Druckfarben AG & Co, TOYO Ink Group, Dainichiseika Color & Chemicals Mfg.Co. Ltd., DuPont Inc., Agfa-Gevaert NV, T&K TOKA Corporation, and Ferro Corp. A shortage of raw materials, resulting in their increasing market prices, is expected to negatively affect the printing ink market. Printing ink companies globally are suffering from a shortage of raw materials, including resins, monomers, photoinitiators, oligomers, and additives. This is mainly due to raw material plant closures in China, a major source of these raw materials, as the country has placed significant emphasis on improving its environment by cutting industrial pollution. China is dominant in printing inks raw materials supplies due to the presence of strong refinery capacity and an associated chemical manufacturing ecosystem; China is dominant in the supply of printing inks. Market players have already started facing challenges due to shortages of raw materials. For instance, in June 2021, manufacturers in Asia, like Toyota and Honda, faced supply chain challenges because of various materials shortages and COVID-19. The printing ink market witnessed consolidation with a significant number of mergers and acquisitions. Top companies in the printing ink market are strategically acquiring and merging with start-ups and mid-sized companies to broaden their product and service range or to enter emerging regions. For instance, in December 2020, Arkema, a France-based specialty chemicals and advanced materials company, acquired Colorado Photopolymer Solution for an undisclosed amount. This acquisition will foster the development of an integrated offering of customized and formulated additive manufacturing solutions to accelerate the design of turnkey solutions for 3D printing. Colorado Photopolymer Solution is a US-based manufacturer of 3D printers. Western Europe was the largest region in the printing inks market in 2022. Asia-Pacific was the second largest region in the printing inks market. The regions covered in the printing inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the printing inks 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 printing inks market consists of the sales of liquid Ink, solid ink, toner, ribbon ink, UV ink, and 3D printing inks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The printing inks market research report is one of a series of new reports from The Business Research Company that provides printing inks market statistics, including global market size, regional shares, competitors with a printing inks market share, detailed printing inks market segments, market trends and opportunities, and any further data you may need to thrive in the printing inks industry. This printing inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Oil-based inks consist of a pigment or pigments of the required color mixed with oil. For example, black inks are made from carbon black and thick linseed oil. Oil-based inks are waterproof and permanent. The main types of oil-based printing inks market are vegetable oil-based printing inks and mineral oil-based printing inks. Vegetable-based printing ink is created from vegetable oil as a substitute for petroleum, such as soybean or maize oil. The amount of VOCs (volatile organic compounds) discharged into the air during printing is greatly reduced by using vegetable-based inks. Oil-based printing is applied in marking and coding, package printing, and signage that are used by packaging, print media, commercial printing, and other sectors. The global oil-based printing inks market is segmented - 1) By Type: Vegetable Oil-Based Printing Inks, Mineral Oil-Based Printing Inks 2) By Application: Marking and Coding, Package Printing, Signage 3) By End User Industry: Packaging, Print Media, Commercial Printing, Other End-Use Industries The global oil-based printing inks market size will grow from $11.25 billion in 2022 to $11.47 billion in 2023 at a compound annual growth rate (CAGR) of 1.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global oil-based printing inks is expected to grow from $12.55 billion in 2027 at a CAGR of 2.3%. The demand for environmentally friendly inks market is increasing and it is expected to drive the oil-based printing inks market in the forecast period. The supply and use of several important chemicals, including ingredients used in paints, coatings, and printing inks, have been banned due to an explosion and fire that occurred in Jiangsu Province, China. The incident has increased the demand for oil-based printing inks, which can be used as a substitute for petroleum and chemical-based inks and are produced from vegetable oils such as soybean, sunflower, cottonseed, safflower, and canola oils. For instance, in October 2022, INX International, a global manufacturer of high-performance printing inks and coatings, displayed and demonstrated its environmentally friendly inks at the PRINTING United Expo. In addition, Mojoprint, which is Japan's number one English-language printing service company, uses vegetable oil-based printing inks derived from soy, palm, and other vegetable oils because these inks are an environmentally friendly and sustainable alternative to petroleum-based inks. Thus, the demand for environmentally friendly inks will drive the oil-based printing inks market. Major players in the oil-based printing inks market are Nazdar Ink Technologies, Van Son Holland Ink Corp., Superior Printing Inks, Flint Group, Hubergroup, Sun Chemical, Wikoff Color Corp., and Siegwerk Druckfarben AG & Co. A shortage of raw materials, resulting in their increasing market prices, is expected to negatively affect the printing ink market. Printing ink companies worldwide are suffering from a shortage of raw materials, including resins, monomers, photoinitiators, oligomers, and additives. This is mainly due to raw material plant closures in China, a major source of these raw materials, as the country has placed significant emphasis on improving its environment by cutting industrial pollution. Due to the presence of strong refinery capacity and an associated chemical manufacturing ecosystem, China is dominant in the supply of printing inks. Market players have already started facing challenges due to shortages of raw materials. For instance, Sun Chemical, a global printing ink manufacturer, faced disruptions in its printing ink supply due to global raw material shortages resulting from ongoing environmental regulatory compliance inspections in Chinese raw material plants and factories. The printing ink industry has introduced high-resolution replacement inks as a cost-effective alternative for barcode case coding applications. High-resolution inks are more effective than traditional inks as they allow fine and solid printing at high speeds. They also enable re-printability and drastically reduce the number of cleaning stencils required. For instance, IIMAK introduced Sure Scan II Plus, a high-resolution replacement compatible inkjet ink that reduces printing costs, downtime, and waste. This is a replacement option that works in a wide range of high-resolution inkjet printers, including FoxJet, Matthews, and Diagraph. Top companies in the market are developing high-definition inks with premium durability, a fast dry time, and a 12-month shelf life. In October 2020, Flint Group Packaging Inks, an India-based chemical manufacturer, acquired Poteet Printing Systems LLC for an undisclosed amount. This acquisition strengthens Flint Group Packaging Inks’ position within the paper and board market in North America and provides technical support there. Poteet Printing Systems LLC., a USA-based chemical manufacturer. Western Europe was the largest region in the oil-based printing inks market in 2022. Asia-Pacific was the second-largest region in the oil-based printing inks market report. The regions covered in the oil-based printing inks industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the oil-based printing inks market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The oil-based inks market consists of the sales of oil-based inks containing pigments, hydrocarbons, and oils such as soy oil. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The oil-based printing inks market research report is one of a series of new reports from The Business Research Company that provides oil-based printing inks market statistics, including oil-based printing inks industry global market size, regional shares, competitors with an oil-based printing inks market share, detailed oil-based printing inks market segments, market trends and opportunities, and any further data you may need to thrive in the oil-based printing inks industry. This oil-based printing inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The adhesives refer to products such as glues, and caulking compounds that are used to bind surfaces of two separate items. The adhesives include properties such as abrasion resistant, creep and fatigue resistant, dimensionally stable, flexible and toughened, low shrinkage, and hardness. The main types of adhesives are water-based adhesives, solvent-based adhesives, hot-melt-based adhesives, reactive adhesives 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, polyurethane, styrenic block, epoxy, Eva, and other product types. The various applications involved are packaging, construction, laminates, woodstock and furnishing, automobiles, footwear, and other applications. 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, Other Product Types 3) By Application: Packaging, Construction, Laminates, Woodstock and Furnishing, Automobile, Footwear, Other Applications The global adhesives market grew from $77.15 billion in 2022 to $83.99 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The adhesives market is expected to grow to $116.33 billion in 2027 at a CAGR of 8.5%. During this 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 have become 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 adhesives market during the historic period. 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. Rising geopolitical tensions had a negative impact on the adhesives market during the historic period. Repercussions of geopolitical tensions include sanctions on Russia, trade protectionism, and heightened military tensions in the Middle East. Many countries place 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 the Middle East and other parts of the world 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. Asia-Pacific was the largest region in the adhesives market in 2022. North America was the second-largest region in The adhesives market. The regions covered in the 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 adhesives market consists of the sales of wet adhesives, contact adhesives, single/two component reactive adhesives, and pressure-sensitive adhesives. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The adhesives market research report is one of a series of new reports from The Business Research Company that provides adhesives market statistics, including adhesives industry global market size, regional shares, competitors with an adhesives market share, detailed adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the adhesives industry. This adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The solvent-based adhesives refer to a class of adhesives that are formulated on an elastomer dissolved in a solvent or phenolic/formaldehyde resins. The solvent-based adhesives are ideal for both porous and non-porous surfaces and offer secure adhesion. The main types of solvent-based adhesives market are polyurethane, styrenic block, and ethyl vinyl 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 is segmented - 1) By Type: PolyurethanePU, Styrenic Block, Ethyl Vinly AcetateEVA 2) By End User Industry: Paper and Packaging, Building and Construction, Woodworking, Automotive and Transportation, Other End Use Industries 3) By Distribution Channel: Direct Sales, Distributor The global solvent-based adhesives market size will grow from $13.48 billion in 2022 to $14.19 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global solvent-based adhesives is expected to grow from $17.23 billion in 2027 at a CAGR of 5.0%. 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. 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. Stringent safety regulations associated with the manufacturing and transportation of adhesive chemicals are acting as a restraint on the market. Adhesives are highly flammable, 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 their investments for business growth. Companies in the solvent-based adhesives market are adopting IoT (Internet of Things) technologies to connect equipment and 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. Asia-Pacific was the largest region in the solvent-based adhesives market in 2022. North America was the second-largest region in the solvent-based adhesives market report. The regions covered in the solvent-based adhesives analysis 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 solvent-based adhesives market consists of the sales of contact adhesive, white glue, and rubber cement. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The solvent-based adhesives market research report is one of a series of new reports from The Business Research Company that provides solvent-based adhesives market statistics, including solvent-based adhesives industry global market size, regional shares, competitors with a solvent-based adhesives market share, detailed solvent-based adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the solvent-based adhesives industry. This solvent-based adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Water-based adhesives are adhesives formulated either from natural polymers or soluble synthetic polymers, which may be supplied as solutions or formulated as dry powders. The water-based adhesives use a combination of water, polymers, and additives and ideal for both porous and non-porous substrates. 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). VAE emulsions are created 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 total 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 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, Other Product Types 3) By Application: Tapes & Labels, Paper & Packaging, Building & Construction: Automotive & Transportation, Other Applications (consumer & DIY, leather & footwear, sports & leisure, and assembly) The global water-based adhesives market size will grow from $37.26 billion in 2022 to $41.23 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the water-based adhesives is expected to grow from $60.64 billion in 2027 at a CAGR of 10.1%. The adhesives market's growth is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that 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 historical period, are further expected to aid the market's 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 developed markets in the forecast period. For instance, according to the Asian Development Bank, a regional development bank, Asia’s share of world GDP is expected to increase to 40% by 2030 and 52% by 2050 . Stable economic growth is expected to increase investments in the end-user markets, thereby driving the water-based adhesives market during the forecast period. 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. 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 used in the automotive and furniture industries because they are quick-drying adhesives. As a result, the slower drying nature of water-based adhesives is limiting the water-based adhesives market growth. 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 $ 28.55 billion. 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. Asia-Pacific was the largest region in the water-based adhesives market in 2022. North America was the second-largest region in the global water-based adhesives market share. The regions covered in the global 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 water-based adhesives market consists of the sales of vegetable glues, animal or protein glues, resin cements, and latex cements. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The water-based adhesives market research report is one of a series of new reports from The Business Research Company that provides water-based adhesives market statistics, including global market size, regional shares, competitors with a water-based adhesives market share, detailed water-based adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the water-based adhesives industry. This water-based adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Solvent-based coatings contain organic compounds like solvents and constitute liquefying agents that evaporate through a chemical reaction with oxygen. Solvent-based coatings include high levels of organic compounds than water-based coatings and offer a long durability. The main types of solvent-based coatings market are one-component system solvent-borne coatings and two-component system solvent-borne coatings. 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 industries, manufacturing industries, hospitals, and other industry verticals. 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 & Gas Industry, Manufacturing Industry, Hospitals, Other Industry Verticals The global solvent based coatings market size will grow from $38.09 billion in 2022 to $41.81 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global solvent based coatings is expected to grow from $58.73 billion in 2027 at a CAGR of 8.9%. Solvent-based coatings are beneficial in humid environments. The time required to dry solvent-based coatings is very short when compared to 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 the oxygen available in the environment. This nature of solvent-based coatings makes them easy to apply in a humid environment and at different temperatures. 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 that are solvent-based and more durable when compared to water-based coatings. Thus, the nature of quick-dry in solvent-based coatings benefits their application in humid environments and thereby contributes to the growth of the solvent based coatings market. 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. Solvent-based coatings 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 are the main reason for air pollution. Governments across the world are coming up with different regulatory acts to curb the emission of VOCs. For instance, to reduce the emission of VOC, the Hong Kong government has implemented a regulation that restricts products that exceed the standard emission of VOC in the country. Thus, the emission of VOCs into the atmosphere from solvent-based coatings limits the growth of the solvent based coatings 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 have adopted this technology are Vermont Photo Inkjet, AkzoNobel N.V., Sherwin-Williams Company, and RPM International Inc. Asia-Pacific was the largest region in the solvent based coatings market in 2022. Western Europe was the second-largest region in the solvent based coatings market report. The regions covered in the solvent based coatings industry 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 solvent based coatings market consists of the sales of alkyd, polyester high solids, single component epoxy, 2-component urethane & epoxy, fluoropolymer 2-component, and non-isocyanate 2-component acrylic solvent-based coatings. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The solvent based coatings market research report is one of a series of new reports from The Business Research Company that provides solvent based coatings market statistics, including solvent based coatings industry global market size, regional shares, competitors with a solvent based coatings market share, detailed solvent based coatings market segments, market trends and opportunities, and any further data you may need to thrive in the solvent based coatings industry. This solvent based coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Waterborne coatings are coatings that use water as a solvent to spread a resin, making them environmentally safe and simple to apply. Waterborne coatings utilize binders such as copolymers of acrylic, vinyl, and styrene compounds. 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 and are used by building and construction, automotive, industrial, wood, and other sectors. The global water borne coatings market is segmented - 1) By Type: Acrylic, Epoxy, Polyurethane, Polyester, Alkyd, Polyvinylidene Chloride (PVDC), Polyvinylidene Fluoride (PVDF), Other Types 2) By Application: Appliances, Automotive, Architectural, Marine, Packaging, Wood, General industrial 3) By End Userr Industry: Bilding and Construction, Automotive, Industrial, Wood, Other End-User Industries The global water borne coatings market size will grow from $107.98 billion in 2022 to $114.8 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the water borne coatings is expected to grow from $142.61 billion in 2027 at a CAGR of 5.6%. 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. 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 waterborne coatings. Rising costs are acting as a restraint on the waterborne coatings market. The rise in raw material costs resulted in higher manufacturing costs, thus decreasing investment in research and development of new products. For instance, according to a blog by HPS Hygienic Pigging Systems, a UK-based integrated design and manufacturing company, the prices of raw materials used to make paint and coatings such as solvents increased in March 2021 with acetone at 123%, n-butyl acetate at 91%, and n-butanol at 54% respectively. The prices of raw materials increased by 10% more in June 2021 and by around 50% in December 2021. Thus, the rise in raw material costs will restrict the growth of the water borne coatings market. 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 puts 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 durability and cost-efficiency. Asia-Pacific was the largest region in the water-borne coatings market in 2022. Western Europe was the second-largest region in the global water-borne coatings market analysis. The regions covered in the global 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 coatings market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The waterborne coatings market consists of the sales of waterborne powder, urethane, and fluoropolymer waterborne coatings. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The water-borne coatings market research report is one of a series of new reports from The Business Research Company that provides water-borne coatings market statistics, including global market size, regional shares, competitors with a water-borne coatings market share, detailed water-borne coatings market segments, market trends and opportunities, and any further data you may need to thrive in the water-borne coatings industry. This water-borne coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A machine is an equipment with several moving parts that are mechanically, electrically, or electronically operated to perform a specific task. The main types of machinery are automatic and semi-automatic. Automatic machinery refers to machinery that works automatically without human intervention. The specificities are small, medium, and large. The various applications are automotive, precision engineering, transport, and other applications. The global machinery market is segmented - 1) By Type: Automatic, Semi-Automatic 2) By Capacity: Small, Medium, Large 3) By Application: Automotive, Precision Engineering, Transport, Other Applications Subsegments Covered: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery, Woodworking And Paper Machinery, Other Industrial Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery, Other Commercial And Service Industry Machinery, Photographic And Photocopying Equipment, Optical Instrument And Lens, HVAC And Commercial And Industrial Refrigeration Equipment, Commercial Fan And Air Purification Equipment, Heating Equipment (except Warm Air Furnaces), Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory, Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear The global machinery market size grew from $3,542.77 billion in 2022 to $3,810.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global machinery market is expected to grow to $4,928.07 billion in 2027 at a CAGR of 6.6%. Rapid advances in technology are expected to drive innovation in machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins. For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolios and enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, and central feedback systems and to offer other services. Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market. These factors are expected to drive the machinery manufacturing market during the forecast period. Major companies in the machinery market include Caterpillar Inc., Deere & Company, Hitachi Ltd., Mitsubishi Heavy Industries Ltd., Komatsu Ltd., Johnson Controls International plc, Gree Electric Appliances Inc., Midea Group co Ltd., Canon Inc., and Tetra Laval International S.A. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the machinery manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. HVAC systems are being integrated with building automation systems for the overall management of a building to maximize energy efficiency. BAS receives analog or digital inputs from the sensors installed in HVAC and the integrated system is managed by a single dashboard accessed from a computer. These integrated systems improve building performance, save energy, and shrink the environmental footprint. HVAC systems account for 60-70% of the total energy consumption of a typical commercial building, thus integrated systems enable commercial establishments to reduce power consumption. For example, advanced BAS technology integrates lighting, water, elevators, security, and HVAC systems into a single automated platform. An integrated lighting and HVAC system automatically controls the lighting and temperature to ideal levels, thus reducing energy consumption and costs. GE and Trane are offering solutions that integrate HVAC with BAS. The Asia-Pacific was the largest region in the machinery market in 2022. Western Europe was the second largest region in the machinery market. The regions covered in the this machinery market analyis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, 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, USA, Venezuela, and Vietnam. The machinery market consists of sales of industrial and commercial machinery such as farm machinery and equipment, construction machinery, oil and gas field and underground mining machinery and equipment, food and beverage manufacturing machinery, semiconductor manufacturing machinery, sawmill and woodworking machinery (except handheld), printing and binding machinery and equipment, photographic and photocopying equipment, automatic vending machinery, commercial laundry and dry-cleaning machinery, office machinery, automotive maintenance equipment (except mechanics' hand tools), commercial-type cooking equipment and machinery for making paper products, textiles, plastic products, rubber products and optical instruments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. the value of goods in this market includes related services sold by the creators of the goods. The machinery market is segmented into agriculture, construction, and mining machinery; industrial machinery; commercial and service industry machinery; ventilation, heating, air-conditioning, and commercial refrigeration equipment; metalworking machinery; engine, turbine, and power transmission equipment; and other general purpose machinery. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The machinery market research report is one of a series of new reports from The Business Research Company that provides machinery market statistics, including machinery industry global market size, regional shares, competitors with a machinery market share, detailed machinery market segments, market trends, and opportunities, and any further data you may need to thrive in the machinery industry. This machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.