Global Low Volatile Organic Compounds (VOC) Adhesive Market, By Chemistry (Polyvinyl acetate (PVA), Vinyl Acetate Ethylene (VAE), Ethylene Vinyl Acetate (EVA), Polyacrylic Ester (PAE), Polyurethane, Epoxy, and Others), Form (Paste, Liquid, Pellets, Tape, and Others), Substrate (Metal, Concrete, Stone, Wood, Polyvinyl Chloride (PVC), Polyurethane Foam, and Others), Type (Water-based, Holt-Melt, and Reactive), End-user Industry (Paper and Packaging, Building and Construction, Transportation, Woodworking, and Others) – Industry Trends and Forecast to 2030.
Low Volatile Organic Compounds (VOC) Adhesive Market Analysis and Size
Increasing awareness among consumer regarding the effects of volatile organic compounds (VOC) are demanding for more eco-friendly products. This is the main factor behind the growth of the low volatile organic compounds (VOC) adhesive market. Once an adhesive is applied on the surface, it cures by the evaporation of VOCs. Generally VOCs include mineral spirits, formaldehyde, toluene and xylene. This is what gives off the characteristic odour. Adhesives labelled the low volatile organic compounds (VOC) strive to decrease the total VOC content. They have the least negative impact on indoor air quality and meet all the regulations.
Data Bridge Market Research analyses that the low volatile organic compounds (VOC) adhesive market is expected to reach USD 2,750.90 million by 2030, which is USD 1,833.79 million in 2022, registering a CAGR of 5.20% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Low Volatile Organic Compounds (VOC) Adhesive Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Chemistry (Polyvinyl acetate (PVA), Vinyl Acetate Ethylene (VAE), Ethylene Vinyl Acetate (EVA), Polyacrylic Ester (PAE), Polyurethane, Epoxy, and Others), Form (Paste, Liquid, Pellets, Tape, and Others), Substrate (Metal, Concrete, Stone, Wood, Polyvinyl Chloride (PVC), Polyurethane Foam, and Others), Type (Water-based, Holt-Melt, and Reactive), End-user Industry (Paper and Packaging, Building and Construction, Transportation, Woodworking, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Henkel Adhesives Technologies India Private Limited (Germany), H.B. Fuller Company. (U.S.), Arkema (France), 3M (U.S.), Dow (U.S.), Ashland (U.S.), DIC CORPORATION (Japan), LD Davis (U.S.), Weilburger (Germany), Dural Industries (Germany), Bond Tech Industries (Canada), SAPICI S.p.A (Italy), Merck KGaA (Germany), Bayer AG (Germany), Dupont (U.S.), Illinois Tool Works Inc. (U.S.), MAPEI S.p.A. (Italy), PPG Industries, Inc. (U.S.), Bostik (France), Sika AG (Switzerland), Pidilite Industries Ltd. (India), Akzo Nobel N.V. (Netherlands)
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Market Opportunities
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Market Definition
Low-VOC is a term that refers to an extensive range of VOC contents which are much lower than the conventional products that comprise VOCs. Low volatile organic compounds (VOC) adhesive refers to those adhesives which are not harmful for the environment and humans. It mostly refers to those adhesives which have a very low or zero volatile organic compounds. Low VOCs adhesives are good for both living organisms and the environment.
Global Low Volatile Organic Compounds (VOC) Adhesive Market Dynamics
Drivers
- Growing demand of low volatile organic compounds (VOC) adhesive in paper and packaging industry
The paper and packaging sector is projected to cover the significant growth rate in the global low volatile organic compounds (VOC) adhesive market due to the wide usage these adhesives in various types of packaging such as case and carton, corrugated and flexible packaging. Furthermore, easy clearance for food packaging from BGA and FDA agencies is expected to drive the growth of the low volatile organic compounds (VOC) adhesive market during the forecast period.
- Increasing usage of polyvinyl acetate (PVA) adhesives
Polyvinyl acetate adhesives is low volatile organic compounds (VOC) adhesive which is widely used in the adhesive as a synthetic resin. Polyvinyl acetate adhesives are eco-friendly and offers various properties such as presence of less VOCs, waterborne nature and superior adhesion to different substrates. It has huge scope in packaging applications such as paperboard decals, wood assembly, automobile upholstery, bookbinding, paper bags, cartons, labels, foils, film, and leather binding. As a result of all these factors, the demand for the polyvinyl acetate adhesive increases which is expected to drive the market growth.
Opportunities
- Growing interest in construction of green buildings
With augmented interest in green living among consumers, it is important to use those materials which have less or no negative effect on the environment. The usage of low volatile organic compounds (VOC) adhesives are approved in the construction of green buildings. These adhesives are produced to comply with evolving green building standards. Green building comprises bio based raw materials in the adhesive, solvent free products and concentrated emphasis on lower VOCs during and after installation. Thus, increasing interest in construction of green buildings will create ample opportunities for the market growth.
- Adverse health and environmental effects of using volatile organic compounds (VOC)
Volatile organic compounds (VOC) are responsible for various problems such as pollution and global warming. VOCs evaporation is the major factor for the formation of ground-level ozone that is extremely irritating. In addition to the health problems, ground-level ozone also has a high negative effect on plants, ecosystems and biodiversity. Hence, switching to low volatile organic compounds (VOC) adhesive products is good for both human health and environment. This is also the major factor which generate lucrative opportunities for the market growth.
Restraints/ Challenge
- Volatility in the price of raw materials
The effort of manufacturing low VOC adhesive is very challenging for manufacturers. The cost of low volatile organic compounds (VOC) adhesive is much higher than other adhesives. The cause behind this is the increasing demand for eco-friendly compounds which is growing the cost of the raw materials. The cost of low volatile organic compounds (VOC) adhesive manufacturing is inherently higher than standard adhesives which is expected to restraint the market growth over the coming years.
- Limiting usage of low volatile organic compounds (VOC) adhesive by strict regulatory authorities
Strict regulatory authorities such as Environmental Protection Agency (EPA) in the U.S. and the Registration, Evaluation and Authorization of Chemicals (REACH) in the Europe limit the use of these compounds which might further challenge the growth of the market in the near future.
This low volatile organic compounds (VOC) adhesive market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the low volatile organic compounds (VOC) adhesive market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2021, Sika acquired DriTac which is a U.S.-based floor covering adhesives company with a strong position in the wood floor bonding. With this acquisition, Sika’s strengthen their presence among floor covering distributors an installers, though accelerating the expansion of Sika industry in the Interior Finishing market in the U.S.A.
- In 2021, Sika agreed to acquire Hamatite for offering adhesives and sealants to the construction and automotive industries. With this acquisition, sika will significantly strengthen their position in the market and also notably extend the product offering for sealing applications in the Japanese construction industry.
Global Low Volatile Organic Compounds (VOC) Adhesive Market Scope
The low volatile organic compounds (VOC) adhesive market is segmented on the basis of chemistry, form, substrate, type and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Chemistry
- Polyvinyl acetate (PVA)
- Vinyl Acetate Ethylene (VAE)
- Ethylene Vinyl Acetate (EVA)
- Polyacrylic Ester (PAE)
- Polyurethane
- Epoxy
- Others
Form
- Paste
- Liquid
- Pellets
- Tape
- Others
Substrate
- Metal
- Concrete
- Stone
- Wood
- Polyvinyl Chloride (PVC)
- Polyurethane Foam,
- Others
Type
- Water-based
- Holt-Melt
- Reactive
End-user Industry
- Paper and Packaging
- Building and Construction
- Transportation
- Woodworking
- Others
Low Volatile Organic Compounds (VOC) Adhesive Market Regional Analysis/Insights
The low volatile organic compounds (VOC) adhesive is analyzed and market size insights and trends are provided by country chemistry, form, substrate, type and end-user industry as referenced above.
The countries covered in the low volatile organic compounds (VOC) adhesive market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to dominate the low volatile organic compounds (VOC) adhesive market owing to the rise in the demand of these adhesives from several industries in this region. Moreover, the presence of large major market players will further boost the growth of market in the region.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 due to the growth and expansion of paper and packaging and transportation industries in this region. Furthermore, increasing adoption of low volatile organic compounds (VOC) adhesive in food packaging industry will further boost the growth of market in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Low Volatile Organic Compounds (VOC) Adhesive Market Share Analysis
The low volatile organic compounds (VOC) adhesive market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to low volatile organic compounds (VOC) adhesive market.
Some of the major players operating in the low volatile organic compounds (VOC) adhesive market are:
- Henkel Adhesives Technologies India Private Limited (Germany)
- H.B. Fuller Company. (U.S.)
- Arkema (France)
- 3M (U.S.)
- Dow (U.S.)
- Ashland (U.S.)
- DIC CORPORATION (Japan)
- Dural Industries (Germany)
- Bond Tech Industries (Canada)
- SAPICI S.p.A (Italy)
- Merck KGaA (Germany)
- Bayer AG (Germany)
- Dupont (U.S.)
- Illinois Tool Works Inc. (U.S.)
- MAPEI S.p.A. (Italy)
- PPG Industries, Inc. (U.S.)
- Bostik (France)
- Sika AG (Switzerland)
- Pidilite Industries Ltd. (India)
- Akzo Nobel N.V. (Netherlands)
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