Global Low-VOC adhesives Market: Overview
The term ‘low VOC’ refers to volatile organic compounds that are not harmful to the environment and humans. Low-VOC adhesives are used to bind laminates, wood, metals, and particle boards. They are also employed to bind soft foams, lightweight materials, and substrates with more porous surfaces. Low-VOC adhesives have high-strength bond, making them ideal for use in bonding paper, cardboards, and numerous applications such as labeling, packaging, palletizing, and case-sealing. Low-VOC adhesives are also used in a wide range of industries and applications including product assembly, furniture & upholstery, and textile.
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Global Low-VOC adhesives Market: Key Segments
Based on type, the low-VOC adhesives market can be segmented into water-based adhesives, hot-melt adhesives, and reactive & others. The water-based adhesives segment is projected to dominate the low-VOC adhesives market during the forecast period. Water-based adhesives are used due to their low content of VOCs, flexibility, excellent shear strength, and significant adhesion to diverse substrates. Water-based adhesives are easy to handle and they have better efficiency than other adhesives. This factor is expected to drive the water-based adhesives segment during the forecast period. Based on chemistry, low-VOC adhesives market has been segregated into polyvinyl acetate (PVA) emulsion, polyacrylic acid emulsion (PAE), vinyl acetate/ethylene (VAE) emulsion, polyurethane, epoxy, and others.
Polyvinyl acetate (PVA) emulsion is expected to be the leading segment of the global low-VOC adhesives market during the forecast period. PVA emulsions are eco-friendly and they are widely used in adhesives as synthetic resins. PVA emulsions have superior properties such as waterborne nature, low content of VOCs, and excellent adhesion to different substrates. PVA emulsions have a variety of packaging applications such as bookbinding, paper bags, cartons, labels, foils, films, paperboard decals, wood assembly, automobile upholstery, and leather binding. In terms of end-use industry, the low-VOC adhesives market has been classified into paper & packaging, building & construction, woodworking, transportation, consumer, and others. The transportation segment is projected to lead the low-VOC adhesives market during the forecast period. In the transportation industry, low-VOC adhesives are used extensively in applications such as aircrafts and automobiles. Stringent standards for automotive OEMs and increasing number of government regulations about quality of indoor air in passenger vehicles are fueling the global demand for low-VOC adhesives.
Global Low-VOC Adhesives Market: Trends & Developments
Major drivers of the global low-VOC adhesives market include high investments in developing economies of Asia Pacific, rising demand for lightweight and low-carbon-emitting vehicles, and shift in preference toward hot-melt adhesives. Volatility in raw material prices is a restraining factor for the low-VOC adhesives market. Increasing demand for green and sustainable adhesives and growing trend of hybrid and electric vehicles are presenting growth opportunities to the global low-VOC adhesives market. Stringent regulatory policies in various countries is a major challenge for the global low-VOC adhesives market.
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Global Low-VOC Adhesives Market: Regional Outlook
Based on region, the global low-VOC adhesives market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global low-VOC adhesives market in Asia Pacific is expected to register the maximum CAGR during the forecast period. Developing economies in the region such as China, India, South Korea, and countries in Southeast Asia are attracting several global players to establish their manufacturing bases in these countries.
Global Low-VOC Adhesives Market: Key Players
Key players operating in the global low-VOC adhesives market include Akzo Nobel N.V., LORD Corporation, Wacker Chemie, SCIGRIP, Pidilite Industries Ltd., Franklin International, ARDEX Group, and Permabond LLC.
