ASIA-PACIFIC ACRYLIC ADHESIVES MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for acrylic adhesives in the Asia-Pacific region is anticipated to grow at a CAGR of 6.79%. Due to their numerous uses in the construction sector, including bonding, weather-sealing, waterproofing, and crack sealing, acrylic adhesives are very common. With a CAGR of 5% for acrylic construction adhesive consumption from 2022 to 2028, China is the Asia-Pacific nation that will expand the fastest. Due to increased construction production, which reached USD 4.6 trillion in value in 2021, representing a 10% increase over the previous year, the nation experienced the biggest demand for acrylic adhesives used in the building and construction industry.

Because they can be applied to surfaces including glass, metal, plastic, and painted surfaces, as well as because they are durable, long-lasting, and extremely weather-resistant, acrylic adhesives are also frequently employed in the automotive sector. It is essential for ASEAN countries to create an EV ecosystem in emerging Asia if they are to speed up consumer adoption and achieve their climate goals. The supply and demand sides of the equation must be increased greatly in order to create the EV ecosystems of the future. 

The demand coming from the Asia-Pacific area was the biggest among all regions between 2017 and 2021. Due to the considerable manufacturing capability of all end-user sectors in the region, the region has regularly supplied 37–38% of the global demand for adhesives. The majority of the demand in the area is for acrylic adhesives with reactive, water-borne, and solvent-borne technologies.   
This region's demand for adhesives experienced a CAGR of 2.87% from 2017 to 2019. The modest development in demand for acrylic adhesives was brought on by a decline in local construction work and auto manufacturing. These end-user industries' demand decreased throughout this time with CAGRs of -1.65% and -1.68%, respectively.

Major Players: 3M, AVERY DENNISON CORPORATION, Henkel AG & Co. KGaA, Hubei Huitian New Materials Co. Ltd and NANPAO RESINS CHEMICAL GROUP


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