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Low VOC Adhesive Market Size & Share, by Chemistry Type (Polyvinyl Acetate, Vinyl Ethylene Acetate, Ethylene Vinyl Acetate, Polyurethane); Technology Type (Hot Melts, Water Based Adhesives, Reactive); End-user (Paper & Packaging, Transport, Building & Consumer Goods, Wood Working) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036.

  • Report ID: 2764
  • Published Date: Sep 25, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036.

Low VOC Adhesive Market size is estimated to surpass USD 90 Billion by the end of 2036, growing at a CAGR of 7.8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the low VOC adhesives was over USD 55 Billion. The growth in the market is because of the increasing need for "green" adhesives as it promotes new sustainable practices. It contributes to the protection of the environment by limiting the release of hazardous chemicals and it is considered healthy for the environment and people to use low-VOC adhesives.

Moreover, there is an increasing demand for the construction industry due to its properties like ease of use, high-temperature resistance, stability, flexibility, durability, and the economy's feasibility. Further, rising infrastructure as a result of the increased urbanisation, is also expected to add growth to the construction industry. After reaching a record 8% construction expenditure growth in 2021, the US engineering and construction sector started 2022 on a promising note.

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Low VOC Adhesives Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Demand for Packaged Food- Market growth is expected to be driven by the increasing number of working people worldwide over the next few years. In addition, the hygienic nature of packaged food is another factor that makes it reliable and grows in the low VOC adhesive market. Data indicate that over 20% of the regional consumption of packaged foods comes from Saudi Arabia.
  • Rapid Increase in Demand for Lighter Vehicles- The increasing investments in emerging nations for low carbon emissions and lighter cars are the main growth drivers in the market. The reduction of vehicle weight by about 10% contributes to an 8 % reduction in fuel consumption and a 5% reduction in the volumes of emissions, according to information sources.
  • Stringent Government Regulations Related to Environmental Concerns- In view of strict government rules, the demand for eco-friendly products in packaging adhesives is increasing and this has led to rising manufacturing costs which are expected to limit market growth. In addition, the market growth has been expected to be positively affected by stringent government legislation on environmental safety standards which emphasize the production of lower volatile organic compounds VOCs.

Challenges

  • Fluctuating Price of Materials- Due to strict government regulations, there has been a rise in demand for environmentally friendly compounds which leads to higher raw material costs, adding on inorganic materials, such as synthetic rubber, chemicals, and refined petroleum products, which is also being a lead in cost increasements. Thus, there have been variations in the situation which will hinder the market growth.
  • Strict Regulatory Policies Related to Environment
  • Unfavourable Conditions and Situations for Implementing Adhesives.

Low VOC Adhesive Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 7.8 %

Base Year Market Size (2023)

~ USD 55 Billion

Forecast Year Market Size (2036)

~ USD 90 Billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Low VOC Adhesives Segmentation

Technology Type (Hot Melts, Water Based Adhesives, Reactive)

By technology type, the water-based adhesives segment is anticipated to gain the highest growth of 59% in the low VOC adhesive market. Water-based adhesives are increasingly used for flexible packaging applications, such as packaging for medicine delivery systems, shipping packaging for building materials, and packaging for consumer and industrial goods. Moreover, the use of these additives is also most frequent for food packaging lamination. For instance, the demand for the use of plastics worldwide increased sharply over the last few decades and, in recent years, reached an estimated 460 million tonnes. Packaging accounted for almost 31 % of this total, and by far the largest segment in which plastics are consumed.

End User (Paper & Packaging, Transport, Building & Consumer Goods, Wood Working)

The paper & packaging segment in the low VOC adhesive market is expected to garner a significant share of 45%. The growth can be attributed to the growing food packaging industry. A variety of items may be transported, stored, and protected with paper packaging owing to its adaptability and affordability. The packaging for paper cartons is utilized in a variety of sectors, including agriculture, food and beverage industry, and others. For instance, low VOC adhesives are becoming more important in the paper and packaging industries since they are used to label, laminate, package, and seal bottles and packages, mostly in the food and consumer products industries.

Our in-depth analysis of the global market includes the following segments:

 

     Chemical type
  • Polyvinyl Acetate PVA
  • Vinyl Acetate Ethylene VAE
  • Ethylene Vinyl Acetate EVA
  • Polyurethane

 

     Technology type

 

     End User industry

 
  • Paper & Packaging
  •  Transportation Construction
  •  Consumer Goods
  • Wood Working

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Low VOC Adhesives Industry - Regional Synopsis

APAC Market Forecast

The Asia Pacific low VOC adhesive market is projected to grow with the highest share of 33% during the forecast period. This region is an ideal market for lower VOC producers due to higher domestic demand, as well as the availability of cheap labour. In the Asia Pacific region, China has emerged as a market leader and India is projected to be the most rapidly developing market in terms of value.

North American Market Statistics

The market in the North America region is expected to show notable growth during the forecasted period. The growth of the market can be attributed majorly to the growing demand for automobiles in the region. More and more people are shifting towards electric vehicles, owing to their fuel efficiency, which in turn will increase the demand for low VOC adhesives in the area, as they help in reducing the amount of dangerous chemicals emitted into the air. In order to minimize the use of chemicals during production, commercial vehicle manufacturers utilize low VOC adhesives which is proven as a vital boost in the region. Commercial vehicle production in the United States is anticipated to reach more than 7 million units by 2026.

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Companies Dominating the Low VOC Adhesives Landscape

    • Ashland
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • Bostik
    • Pidilite Industries Limited
    • Parker Hannifin Corporation
    • ARDEX Group
    • Reynolds Company
    • DELO Industrial Adhesives LLC
    • Franklin International
    • IFS Industries

In the News

  • Parker Hannifin Corporation acquired LORD Corporation to support the stated goal of making investments in high growth, high-attractive margin companies, such as engineered materials, that help to move up to the top quartile of financial performance.
  •  Bostik introduced STIX A600 EVOLUTION, a new soft floor adhesive, with a glass ball technology. The glass ball technology used in the STIX A600 EVOLUTION consists of tiny glass spheres combined with certain dispersions and raw ingredients. Further, all varieties of carpet and the majority of resilient floor coverings, such as PVC sheet and tiles, linoleum, rubber, and acoustic underlays, may be used with the multipurpose adhesive.

Author Credits:  Rajrani Baghel


  • Report ID: 2764
  • Published Date: Sep 25, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising environmental concern and the surging demand for light Weight vehicles are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 7.8% over the forecast period, i.e., 2024-2036.

Fluctuating prices of raw materials, and strict regulatory policies are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

The major players in the market are Ashland, H.B. Fuller Company, Henkel Corporation, Bostik, Pidilite Industries Limited, Parker Hannifin Corporation, ARDEX Group, Reynolds Company, DELO Industrial Adhesives LLC, and others.
Low VOC Adhesives Market Report Scope

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