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The Acrylic Adhesives Market size is estimated to reach US$21.6 billion by 2027, after growing at a CAGR of 5.3% during the forecast period 2022-2027. The use of Acrylic Adhesives in Electrical
& Electronics has increased significantly. Acrylic adhesive, also known as
methylmethacrylate, is a two-part adhesive, acrylate, acrylic, pressure-sensitive adhesives or methylacrylic polymer-based resin adhesive. Significant
growth in the electrical and electronics sectors around the world is one of the
primary factors contributing to the favorable Acrylic Adhesives market outlook.
According to the India Brand Equity Foundation (IBEF), the electronics
manufacturing industry in India is projected to reach US$520 billion by the
year 2025.
Acrylic Adhesives Market: The Electrical & Electronics Segment Leads the Market
On the basis of the end-use industry, the Acrylic Adhesives market can be segmented into transportation, medical & healthcare, electrical & electronics, building & construction and others. The leading segment in the acrylic adhesives market has been evaluated to be electrical & electronics. During the forecast period 2022-2027, the electrical & electronics segment is expected to grow at a CAGR of 5.0%. Acrylic adhesives are used in hard drives for permanent and cleanly removable labels, filters and seals, as well as damping and component assembly, propelling the acrylic adhesives market in the electronics industry. According to the Semiconductor Industry Association (SIA), global semiconductors sales totaled US$151.7 billion in the first quarter of 2020, showing an increase of 23% over the first quarter of 2021.
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Acrylic Adhesives Market: Asia-Pacific Holds the Largest Market Share
On the basis of geography, the Acrylic Adhesives market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most profitable region in the market. In 2022, the Asia-Pacific region held a 38.4% share of the total revenue earned by the market globally. Asia-Pacific countries including India and China are ahead comparatively in terms of consumer electronics products. According to the India Brand Equity Foundation, Electronics consumption would increase to US$400 billion by 2025, up from US$33 billion in FY20. By 2025, India is predicted to be the world's fifth-largest consumer electronics and appliances market. The Acrylic adhesives market would also gain demand from the North American region. The USA and Canada are emerging as competitive countries in the Acrylic adhesives market.
Acrylic Adhesives Market: Competitive
Landscape
Key companies holding major
shares in the Acrylic Adhesives market are B. Fuller Company, 3M, Avery Dennison
Corporation, Pidilite Industries Limited, Henkel AG & Co. KGaA, Bostik,
Sika AG, Eastman Chemical Company, Royal Adhesives & Sealants, Huntsman
International LLC and TOAGOSEI CO., LTD
R&D Investments
In April 2022, Toyochem Co., Ltd.
announced the release of new low-odor, low-VOC acrylic pressure-sensitive adhesives (PSA). Oribain EXK 21-046 is suitable for use in enclosed spaces
such as vehicle interiors and building interiors.
In October 2021, 3M launched the next generation of its 3M Scotch-Weld Structural Acrylic Adhesives portfolio, which includes the following new products: 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series, 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series and 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS.