Solvent-based adhesives market projected to reach USD 8,965 million by 2028 at a CAGR of 2.7% during the forecast period.

Introduction of the Solvent-based Adhesives Market Report

Solvent-based adhesives are frequently used across the packaging and medical industries. These adhesives are high resistance to several environmental factors and their suitability to different substrates. Solvent-based adhesives are good options for porous and non-porous coverings and give reliable adhesion once the liquid evaporates, leaving only the bonding agent behind.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global solvent-based adhesives market include the increasing demand for solvent-based adhesives in food packaging. Solvent-based adhesives are essential for the food packaging industry, especially for laminating and coating processes. This includes using solvent-based heat seal coating that helps packaging to keep securely closed even when exposed to environmental factors. For instance, Henkel Adhesives Technologies is a significant solvent-based adhesive manufacturer that provides solvent-based adhesives to various industries such as packaging, medical applications, or tapes, labels, and graphics applications.

The increasing demand for medical devices will also boost market growth. Solvent-based adhesives are an essential substance used for manufacturing tapes and other devices in the medical industry. Medical goods and devices need strongholds that persist even if exposed to other chemicals or solvents. This makes solvent-based adhesives especially suitable for transdermal and drug delivery products needed across the medical field. According to IBEF, the medical technology sector in India is projected to reach USD 50 billion by 2025.

Restraint in the Solvent-based Adhesives Market

However, all stages of the manufacturing and application process for solvent-based adhesives, including formulation, drying, and curing, release volatile organic compounds (VOCs) into the atmosphere. This factor can act as a restraint and hamper the market growth.

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Chemistry – Segment Analysis

Based on the chemistry, polyurethane adhesives expected to grow at a higher CAGR during the forecast period. Polyurethane adhesives are very versatile with high performance characteristics and can be formulated to give a wide range of physical properties, such as long lasting and strong bond strengths. Polyurethane is majorly used in manufacturing vehicles and sealing metal structures such as containers. It is also used to manufacture and install air conditioning in the HVAC system to reduce vibration and provide sealing in metal sheet joints. For instance, Bostik provides polyurethane solutions for market-specific applications, including sealing, roofing, tiling, aerospace laminating, flexible packaging, upholstery, flooring, and automotive production.

End-use Industry – Segment Analysis

Based on the End-use Industry, the packaging segment is anticipated to grow at higher CAGR during the forecast period. Improved functionality and convenience are driving factors for the solvent-based adhesives market. Brand Owners design their packaging to meet these needs while keeping in mind product freshness, sustainable solutions, and food safety. Solvent-based heat seal coatings are essential for flexible packaging applications for food since they can be heat sealed. For instance, Henkel Adhesives Technologies India Private Limited offers solvent-based adhesives for digital printing applications in the food packaging industries and general packaging applications.

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Regional – Segment Analysis:

Based on the region, APAC region is predicted to grow at higher CAGR during the forecast period. The high economic growth and heavy investment in construction industries will boost the market during the forecast period. Long lasting strength and weather resistance is the cornerstone of any well-made building and make a building last means using high quality materials and products. Solvent based construction adhesives deliver long lasting, high strength bonds with increased reliability compared to other methods of bonding. According to the International Trade Administration, China is the world’s largest construction market, with industry predicted to grow at an annual average of 5.2% between 2021 and 2029.

Top Market Players

Various notable players operating in the market, include, Henkel AG & Co. KGaA, H.B. Fuller Company, Arkema, 3M, Huntsman International LLC., Illinois Tool Works Inc., Dow, Bostik, Avery Dennison Corporation, Ashland, among others.

Key Developments:

• • In 2021, Henkel AG & Co. KGaA announced the construction of a new adhesive technology innovation center in Shanghai, China, with more than USD 67 million investment. The innovation center will also strengthen the position of Henkel Adhesive Technologies to serve variety of industries.
  • In 2020, Avery Dennison Corporation announced the acquisition of APCO Ltd. for USD 87.6 million. Avery Dennison Corporation has acquired most of APCO Ltd. assets, including coating, finishing, and distribution operations.

Segments covered in the Report:

The global solvent-based adhesives market has been segmented on the basis of chemistry, and end-use industry. Based on chemistry, the market is segmented into polyurethane adhesives, acrylic adhesives, polyamide adhesives, vinyl acetate adhesives, chloroprene rubber adhesives, synthesized rubber adhesives, and others. Based on end-use industry, the market is segmented into packaging, medical, automotive, building & construction, woodworking, and others.

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Key questions answered in this research report:

• • At what pace is global solvent-based adhesives market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in solvent-based adhesives market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global solvent-based adhesives market?
  • Which chemistry generated maximum revenues in 2020 and identify the most promising Chemistry during the forecast period?
  • What are the various end-use industry areas of global solvent-based adhesives market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Solvent-based Adhesives Market by Chemistry

• • Polyurethane Adhesives
  • Acrylic Adhesives
  • Polyamide Adhesives
  • Vinyl Acetate Adhesives
  • Chloroprene Rubber Adhesives
  • Synthesized Rubber Adhesives
  • Others

Global Solvent-based Adhesives Market by End-use Industry

• • Paper & Packaging
  • Medical
  • Automotive
  • Building & Construction
  • Woodworking
  • Others

Global Solvent-based Adhesives Market by Region

• • North America Solvent-based Adhesives Market (Option 1: As a part of the free 25% customization)
    • North America Solvent-based Adhesives Market by Chemistry
    • North America Solvent-based Adhesives Market by End-use Industry
    • US Solvent-based Adhesives Market All-Up
    • Canada Solvent-based Adhesives Market All-Up
  • Europe Solvent-based Adhesives Market (Option 2: As a part of the free 25% customization)
    • Europe Solvent-based Adhesives Market by Chemistry
    • Europe Solvent-based Adhesives Market by End-use Industry
    • UK Solvent-based Adhesives Market All-Up
    • Germany Solvent-based Adhesives Market All-Up
    • France Solvent-based Adhesives Market All-Up
    • Spain Solvent-based Adhesives Market All-Up
    • Rest of Europe Solvent-based Adhesives Market All-Up
  • Asia-Pacific Solvent-based Adhesives Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Solvent-based Adhesives Market by Chemistry
    • Asia-Pacific Solvent-based Adhesives Market by End-use Industry
    • China Solvent-based Adhesives Market All-Up
    • India Solvent-based Adhesives Market All-Up
    • Japan Solvent-based Adhesives Market All-Up
    • Rest of APAC Solvent-based Adhesives Market All-Up
  • RoW Solvent-based Adhesives Market (Option 4: As a part of the free 25% customization)
    • RoW Solvent-based Adhesives Market by Chemistry
    • RoW Solvent-based Adhesives Market by End-use Industry
    • Brazil Solvent-based Adhesives Market All-Up
    • South Africa Solvent-based Adhesives Market All-Up
    • Saudi Arabia Solvent-based Adhesives Market All-Up
    • UAE Solvent-based Adhesives Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Solvent-based Adhesives Market All-Up

Major Players Operating in the Solvent-based Adhesives (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Henkel AG & Co. KGaA
  • B. Fuller Company
  • Arkema
  • 3M
  • Huntsman International LLC.
  • Illinois Tool Works Inc.
  • Dow
  • Bostik
  • Avery Dennison Corporation
  • Ashland