Key low VOC adhesive market players include Ashland, H.B. Fuller Company, Henkel Corporation, Bostik, Pidilite Industries Limited, Parker Hannifin Corporation, ARDEX Group, Reynolds Company, and DELO Industrial Adhesives LLC.
New York, Dec. 04, 2023 (GLOBE NEWSWIRE) — The global low voc adhesive market size is poised to grow at a CAGR of over 7.8% from 2024 to 2036. The market is anticipated to garner a revenue of USD 90 billion by the end of 2036, up from a revenue of USD 55 billion in the year 2023. 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.
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Further, rising infrastructure as a result of the increased urbanization, 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. Stringent regulations on VOC emissions from various government bodies worldwide, such as the U.S. Environmental Protection Agency (EPA) and the European Union, have prompted industries to adopt low VOC adhesives to comply with environmental standards. Growing awareness among consumers about the impact of VOCs on indoor air quality and health has led to increased demand for products with lower VOC content. This trend has been notable in industries like construction, furniture manufacturing, and automotive.
Low VOC Adhesive Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The water-based adhesives segment to garner the highest growth
- Market in North America to grow at a highest rate
Increasing Demand for Packaged Food across the Globe to Boost Market Growth
Industries are increasingly adopting sustainable practices, and low VOC adhesives align with these initiatives. Companies that prioritize environmentally friendly products can gain a competitive edge in the market. 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. 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. 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.
Low VOC Adhesive Industry: Regional Overview
The global low VOC adhesive market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Stringent Environmental Regulations to Drive the Market Growth in Asia Pacific Region
The low VOC adhesive market in Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The Asia Pacific region has witnessed a surge in regulatory measures aimed at curbing environmental pollution. Governments are imposing stricter standards on VOC emissions in various industries, prompting manufacturers to shift towards low VOC adhesives. For instance, China’s “13th Five-Year Plan” targets a 15% reduction in VOC emissions per unit of GDP by 2020, driving industries to adopt eco-friendly adhesives to align with these regulatory mandates. Consumers in the Asia Pacific region are becoming increasingly conscientious about the environmental impact of the products they purchase. With a rising awareness of indoor air quality and its impact on health, there is a growing demand for low VOC adhesives in sectors such as construction and home furnishings. Manufacturers responding to this trend are not only meeting regulatory requirements but also gaining a competitive edge by catering to the preferences of an eco-conscious consumer base.
Consumer Demand for Sustainable Products to Propel the Growth in the North America Region
The North America low VOC adhesive market is estimated to garner the highest CAGR by the end of 2036. 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. The North American market is witnessing continuous advancements in adhesive formulations, with manufacturers focusing on enhancing the efficacy of low VOC adhesives. Innovations in bonding strength, durability, and versatility are addressing industry-specific needs, making these adhesives more attractive to a wide range of applications across sectors such as automotive, construction, and packaging. The growing awareness and eco-consciousness among consumers in North America are reshaping purchasing behaviors. Consumers are actively seeking products with reduced environmental impact, prompting manufacturers to adopt low VOC adhesives to align with this demand. This consumer-driven shift is not merely a trend but a fundamental change in buying preferences, shaping the market dynamics of the adhesive industry.
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Low VOC Adhesive Segmentation by Technology Type
- Hot Melt Adhesives
- Water Based Adhesive
- Reactive
Amongst these segments, the low voc adhesive market water-based adhesives segment is anticipated to hold the largest share over the forecast period. 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 tons. Packaging accounted for almost 31 % of this total, and by far the largest segment in which plastics are consumed. Innovations in water-based adhesive formulations focus on enhancing bonding strength, durability, and resistance to environmental factors. As manufacturers invest in research and development, water-based adhesives are becoming more competitive with solvent-based alternatives. The continuous improvement in performance parameters is a compelling factor for industries seeking both sustainability and efficiency in their adhesive solutions.
Low VOC Adhesive Segmentation by End User
- Paper & Packaging
- Transportation Construction
- Consumer Goods
- Wood Working
Amongst these segments, the low voc adhesive market paper & packaging segment is anticipated to hold a significant share over the forecast period. The explosive growth of e-commerce has translated into an unprecedented demand for packaging materials. From corrugated boxes to protective wrapping, the paper and packaging industry is a direct beneficiary of the surge in online shopping. As consumers increasingly turn to e-commerce platforms, the need for efficient and sustainable packaging solutions is reshaping the landscape, making paper-based materials a preferred choice. Global e-commerce sales are projected to reach USD 6.54 trillion by 2023, underscoring the monumental shift towards online retail. The global push towards sustainability is steering the paper and packaging industry towards eco-friendly alternatives. Brands are opting for paper-based packaging materials that are renewable, biodegradable, and recyclable. As consumers actively seek products with minimal environmental impact, the adoption of sustainable packaging solutions is a critical driver shaping the growth trajectory of the paper and packaging segment.
Low VOC Adhesive, Segmentation by Chemical Type
- Polyvinyl Acetate PVA
- Vinyl Acetate Ethylene VAE
- Ethylene Vinyl Acetate EVA
- Polyurethane
Few of the well-known market leaders in the global low VOC adhesive market that are profiled by Research Nester are Ashland, H.B. Fuller Company, Henkel Corporation, Bostik, Pidilite Industries Limited, Parker Hannifin Corporation, ARDEX Group, Reynolds Company, DELO Industrial Adhesives LLC, and other key market players.
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Recent Development in the Low VOC Adhesive Market
- 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.
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