The solvent-based adhesive is a glue available in the form of liquid. These adhesives are found in industrial settings, consumer glues, and others. These solutions contain an adhesive inside the malleable substances which are easy to apply. It permits users the convenience while applying the adhesives and also achieving better application even in those areas that are difficult to cover with solid glue. The solid-based adhesives are prepared by blending adhesive materials with a suitable solvent to produce an efficient adhesive polymer solution. The performance is largely evaluated by the type of polymers present in the formulation. These adhesives are also called bonding or binding agents, which are dispersed in an organic solvent.
Global Solvent Based Adhesives Market: Growth Factors
One of the major factors driving the growth of the global solvent-based adhesives market is the rapidly widening scope of solvent-based adhesives owing to their strength. They facilitate superior appeal and shear strength. Furthermore, the growing automobile and construction applications in several regions all across the globe are boosting the requirement for solvent-based adhesives significantly. The outbreak of the Covid-19 pandemic all across the globe has given ample thrust to the growth of medical devices and healthcare sector. There is immense need for medical devices including syringe pumps, oxygen concentrators, pulse oximeters, and ventilators. All these scenarios are likely to significantly promulgate the growth of the global market during the forecast period. There is a constant increase in the geriatric population due to the increased life expectancy, which in turn will complement the growth of the market. Moreover, the continuous boost in the expenditure on healthcare facilities all around the globe has maximized the sales of a different range of medical devices. The growing need for advanced food packaging in developed and developing regions will further boost the growth of the global solvent-based adhesives market. The surging preferences of people towards convenience and packaged food are transforming the packaging industry. Furthermore, the growing adoption of online food delivery systems will also boost the demand for solvent-based adhesives globally.
Global Solvent Based Adhesives Market: Segmentation
The global solvent-based adhesives market can be segmented into end-user, chemistry, and region.
By end-user, the market can be segmented into leather & footwear, medical, aerospace, automotive, woodworking, building & construction, paper & packaging, and others. The paper & packaging system holds the largest share in the global solvent-based adhesives market due to the growing inclination of people towards urban lifestyles. The emergence of the e-commerce sector will fuel the growth of the segment vigorously.
By chemistry, the market can be segmented into nitrile rubber, natural rubber, synthesized rubber, PVC copolymers, chloroprene rubber, vinyl acetate, polyamide acrylic, polyurethane, and others. The polyurethane segment accounts for the largest share in the global solvent-based adhesives market as it facilitates abrasion resistance, adhesion, and a better tint ability. Moreover, these adhesives are widely utilized in the manufacturing of vehicles, trucks, & containers.
Global Solvent Based Adhesives Market: Regional analysis
Asia Pacific accounts for the largest share in the global solvent-based adhesives market due to the growing domestic demand along with the easy availability of resources. Moreover, the growing disposable income of the people in the region will also escalate the growth of the regional market. The rapidly proliferating automotive sector in the region is likely to further promulgate the growth of the regional market in the forthcoming years.
Global Solvent Based Adhesives Market: Competitive Players
Some of the significant players in the global solvent-based adhesives market are Morchem, COIM Group, Ashland Inc., Arkema Group, Flint Group, The Dow Chemical Company, 3M, H.B. Fuller, Henkel AG & Co. KGaA, Franklin International, Delo Industrie Klebstoffe, Dymax, Permabond, Akzo Nobel, MAPEI, Illinois Tool Works, RPM International, KCC, Sika AG, LORD Corp., Jowat AG, Huntsman Corp., Everad Adhesives SAS, Avery Dennison Corp., and Alfa International Corporation.