POLYVINYL ACETATE ADHESIVE MARKET DYNAMICS AND TRENDS
Polyvinyl acetate is environmentally friendly, and there is no health risk involved in its utilization. The adhesive is used as a wood glue in furniture manufacturing due to its high strength & creep resistance, and good adhesion. Moreover, the growing demand for the furniture market is expected to increase PV acetate adhesive market growth due to consumer lifestyle changes and rising disposable income is expected to drive the market growth. According to industry analysis, the furniture is expected to reach USD 296,610 million, with a CAGR of 6.62% during the forecast period.
Furthermore, the medical industry is expected to be the fastest-growing adhesive market due to its increasing use for surgical purposes. Moreover, acrylics are increasingly replacing sutures and staples used for treating wounds. In addition, polyvinyl acetate is being increasingly used in medical packaging. The growing medical industry is expected to boost the demand for adhesives during the forecast period. Moreover, the increasing demand for packaging is also expected to increase the market size of PV acetate adhesive during the forecast period due to an increase in the use of an application such as paper, cardboard, and other materials utilize industrial adhesives to bind & seal the packaged product to avoid leakage or damage. In addition, polyvinyl acetate is used in laminating cardboard with paper to add some product information to the packaging and design an alluring appearance. The growing demand for frozen food & beverages and cosmetics is expected to boost the product demand during the forecast period. According to industry analysis, medical packaging is expected to reach USD 104 billion in 2022 from the recorded value of USD 68 billion.
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POLYVINYL ACETATE ADHESIVE MARKET SEGMENTATION ANALYSIS
By form, the market is segmented into organic solvent solution and water dispersion. By type, the market is segmented into polyvinyl alcohol, styrene-butadiene rubber, dummy melamine-formaldehyde resin, UV curable resins, epoxy resins, solvents, acrylic resins & plastics, melamine-formaldehyde resin and others. By application, the market is segmented into light-weight panels, latex house paints, doors, foil lamination, medical, solid wood lamination, leather and others. By end-user, the market is segmented into automotive, healthcare, construction, electronics, footwear, bedding & furniture, packaging and others.
The commonly used resin in water-dispersion form is polyvinyl acetate in copolymer and homopolymer variety. Moreover, polyvinyl acetate latex is the basis for the typical household white glue, of which Elmer’s® is probably the most commonly used. This type’s products are suitable adhesives for paper, plastics, metal foil, leather, and cloth. In addition, their primary use is in packaging for flexible substrates and lagging adhesive to bond insulating fabric to ductwork and pipe in steamships and plants. It is also used in frozen-food packaging in which low-temperature flexibility is essential.
Furthermore, this adhesive is used to construct mobile homes to provide temporary bonds during construction until the units are supported on foundations. Also, it offers initial solid bonds that develop strength quickly. In addition, immediate strength and stiffness are needed to resist stress induced by racking and flexing of long mobile homes as moved within the factory during hauling & lifting at the construction site.
POLYVINYL ACETATE ADHESIVE MARKET GEOGRAPHICAL ANALYSIS
APAC dominates the polyvinyl acetate adhesive market. It is an emerging region for all the end-use industries, including packaging, automotive, electronics, furniture, and machinery, to drive market growth during the forecast period. The region’s growth is attributable to the increasing population and growing manufacturing industry due to cheap labor availability, especially in developing countries like China and India. This is likely to increase product utilization in the region, thus augmenting the market growth.
North America is expected to be the fast-growing market during the forecast period due to the increased medical packaging industry. As in 2019, the total U.S. packaging industry amounted to nearly USD 180 billion, which has increased by USD 7 billion compared to the previous year. Moreover, other region such as Europe and Latin America is expected to contribute to the market’s significant growth during the forecast period due to rising demand for furniture, automotive and electronics market. In Europe, consumer electronics is expected to reach USD 99,300 million, with a CAGR of 4.45% during the forecast period.
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POLYVINYL ACETATE ADHESIVE MARKET COMPANIES AND COMPETITIVE LANDSCAPE
The polyvinyl acetate adhesive market is moderated fragmented with the presence of regional and global players. The competitive outline lies with the increase in the regional company and growing investment in upstream application. H.B. Fuller, Henkel AG, Hindustan Adhesives Limited, 3M Company, Ashland Specialty Chemical Company, BASF S.E, Dow Chemical Company, AkzoNobel, Sika AG, DuPont de Nemours Inc. are the major player in the adhesive market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the polyvinyl acetate adhesive market globally.
Henkel manufacture AQUENCE is the brand for innovative, sustainable water-based adhesive solutions used in many applications. Moreover, the adhesives are coater-ready and provide the advanced bonding necessary to meet demanding applications in a wide variety of end-use markets. In addition, the AQUENCE range enables the customers to improve their total cost of ownership and product quality, creating efficiency & reliability in their manufacturing process.
Furthermore, dispersion glue, often referred to as emulsion, is an adhesive consisting of an organic binder (mainly PVAc) that is finely dispersed in water. Moreover, AQUENCE water-based solutions enable the customers to improve their total cost of ownership and product quality for consumer products in various industries such as bookbinders & graphic arts, food & beverage packaging, home appliances, medical devices, medical tapes, furniture & building components, tissue towel, tapes, labels & graphic and paper packaging solution.
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