Rockville, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Fact.MR's research study on the Low VOC Adhesives market reveals significant trends and prospects in terms of component, type, vehicle type, and region during the forecast period (2023-2027). The research focuses on providing distinct market insights to aid renowned firms in creating coherent strategies to gain a competitive edge.
The global low VOC adhesives market is valued at US$ 52 billion in 2023 and is forecasted to reach a market size of US$ 85 billion by 2033. Worldwide sales of low VOC adhesives are estimated to increase at a CAGR of 5% from 2023 to 2033, as per this Fact.MR market study.
Increasing Use of Environmentally Friendly and Sustainable Adhesive Products
Low VOC adhesives can meet the demands for new projects that are specific requirements for these two industries, such as water resistance, strong bond strength, and quick cure under growing humidity. Green adhesives or those with low VOC levels are becoming more and more popular as a result of the growing consumer demand for environmentally friendly or green products.
Sustainable adhesive solutions are being developed as a result of increased awareness of "green" or environmentally friendly structures in the worldwide construction industry. These glue choices are made from materials that are biodegradable, recyclable, renewable, or recycled.
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Drivers:
- Governments across the globe have been implementing increasingly strict regulations to reduce emissions of VOCs, which contribute to air pollution and climate change. As a result, many industries, including the adhesives industry, are turning to low VOC alternatives to comply with these regulations.
- Moreover, VOCs can have adverse health effects on humans and animals, including respiratory problems, headaches, and nausea. Low VOC adhesives provide a safer working environment for employees and reduce health risks for end-users of products that contain these adhesives.
- With the growing demand for sustainable products and manufacturing processes, low-VOC adhesives are becoming more popular. They help companies reduce their carbon footprint and meet sustainability goals.
- Besides this, Low VOC adhesives often require less energy to manufacture, which can result in cost savings for companies. They may also require less ventilation and air purification equipment, which can reduce operating costs.
- Moreover, advances in low VOC adhesive technology have resulted in products that offer comparable or superior performance to traditional adhesives. This has helped to drive the adoption of low-VOC adhesives across a wide range of industries, including construction, automotive, and packaging.
Key Trends:
- Bio-based adhesives are made from renewable resources and are often considered a more sustainable alternative to traditional adhesives. With the development of new technologies and the availability of new raw materials, the use of bio-based adhesives is becoming more common in the low-VOC adhesives market.
- The low VOC adhesives market is expanding into new applications and industries, such as electronics, medical devices, and aerospace. As more industries seek to reduce their carbon footprint and comply with environmental regulations, the adoption of low-VOC adhesives is likely to continue to grow.
- 3D printing technology is becoming more advanced, and the use of low VOC adhesives in 3D printing is becoming more common. This trend is driven by the need for more sustainable manufacturing processes and the desire for more environmentally friendly products.
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Restraints:
- Low VOC adhesives may be more expensive to manufacture than traditional adhesives due to the use of more expensive raw materials and specialized production processes. This can result in higher prices for customers, which may limit adoption.
- Some of the raw materials used in the production of low VOC adhesives may be less readily available or more difficult to source than those used in traditional adhesives. This can lead to supply chain challenges and potential production delays.
- While advances in low VOC adhesive technology have improved their performance, some low VOC adhesives may still have lower strength or bonding properties compared to traditional adhesives. This may limit their suitability for certain applications, which can affect market adoption.
- While regulations promoting the use of low VOC adhesives can be a driver for the market, compliance with these regulations can also be a challenge for manufacturers. Compliance may require additional testing and documentation, increasing production costs and slowing down time-to-market.
Competitive Landscape:
- Manufacturers of low-VOC adhesives are investing in research and development to improve the performance and cost-effectiveness of low-VOC adhesive products. This includes the development of new bio-based adhesives, as well as improvements in the production process to reduce the cost of low VOC adhesive manufacturing.
- In 2022, Toyochem developed low-odor, low-VOC acrylic adhesive for vehicle & building interiors
- In September 2021, Weir Minerals and Henkel collaborated to introduce a zero VOC adhesive line for rubber lining using the exclusive formula
Key Players of Low VOC Adhesives Industry
- Bostik AB
- Dow, Inc.
- Dymax Corporation
- Huntsman Corporation
- Jowat SE
- Lord Corporation
- Mapei S.p.A.
- Permabond LLC
- Pidilite Industries Ltd.
- PPG Industries, Inc.
- Roberts Consolidated Industries, Inc.
- SCIGRIP - Smarter Adhesive Solutions
- Sika AG
- The Reynolds Company
- Uniseal, Inc.
- Wacker Chemie AG
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Key Questions Covered in the Surgical Equipment Market Report
- What was the sales value of the low VOC adhesives market in 2022?
- At what rate will the global low VOC adhesives market grow until 2032?
- Which are the factors hampering the growth in low VOC adhesives market?
- Which region is expected to lead in the global low VOC adhesives market during 2023-2032?
- Which are the factors driving the low VOC adhesives market during the forecast period?
- What is the expected market value of the low VOC adhesives market during the forecast period?
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