Owing to the properties that Acrylic Adhesives
exhibit, such as durability, strength, resistance to acid, low curing times, among others, they have found use in a myriad of applications that include automotive, medical, electronics, and several more.
There are two kinds of acrylic adhesives, namely, water based acrylic adhesives and solvent based acrylic adhesives. As the name suggests, water based acrylic adhesives use water as the base liquid. While higher in price as compared to water-based acrylic adhesives, the solvent-based ones are superior in performance. Solvent-based acrylic adhesives are ideally used when durability is of paramount importance and when cost is a critical factor, water-based ones can be used. Solvent-based acrylic adhesives also have the ability to be used in environments that include heat and outdoor environments. They are also resistant to harsh chemicals. Water-based acrylic adhesives typically can be used for applications such as labels on health and beauty products, food, and a range of removable applications. The automotive industry predominantly uses solvent based acrylic adhesives mainly due to the properties they exhibit.
One of the major inhibitors of the acrylic adhesives market
is the health impact stemming from long-term exposure to these adhesives. This is known to cause respiratory problems. This coupled with the hazardous environmental impact of disposal of acrylic adhesives are challenging the growth of this market. There are several stringent regulations in place that not only impact the market directly, but, have led to the growth in alternatives and substitutes. Price of raw materials is another factor restraining growth of this market.
The acrylic adhesive market can be segmented on the basis of types 1-component and 2-component. While the application areas for acrylic adhesives are plenty, the automotive sector is the one with the highest potential and is expected to account for the largest share by the end of the forecast period. Construction was a lucrative segment, but with the slump in real estate is some regions, this market is lagging in terms of growth in this sector. In terms of applications, the acrylic adhesive market has been segmented across the following Automotive, Construction, Industrial, Medical, Electronics and Others. The market has been segmented based on the following geographies North America, South America, APAC, Europe, Middle East and Africa.Following are just a few of the companies that are operating in the acrylic adhesives market
- The Dow Chemical Company
- Sika AG
- Henkel AG
- Eastman Chemical Company