Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
Low Volatile Organic Compound (VOC) Adhesives Market Was Valued At US$ XX Mn In 2019 And It Is Expected To Reach US$ 76.5 Billion By 2028, Growing At A CAGR Of 5.4% during the Forecast Period
The market for Low VOC Adhesives is exponentially increasing because of an increased amount of consumption by the end-users globally. This is attributed to an increase in the demand for less weight and low carbon-emitting compounds that could have a low impact on the environment. As per the regulation, the volatile organic compounds are pollutants having a significant impact on climatic conditions thus, a rise in the demand of low volatile organic compound (VOC) adhesives globally.
There are specified limitations in acceptance of VOC adhesives imposed by the authoritative body of the US that has substantially contributed to a rise in the need of Low VOC Adhesives in the market. Low VOCs are compounds actively photochemical in reaction when exposed to light hence demand Low VOC Adhesives market is fueled. The authority body has significantly put limitations on usage of Low VOC Adhesives in the market encouraging the compliance of these offerings as per the end-user requirement.
These adhesives are generally water-based having less VOC content and have strong adhesion with varied substrates when used. There is an increase in investments among developed nations that had substantially boosted Low VOC adhesive market growth. The polyurethane segment has the highest market growth in the global market due to its versatility. These offerings have unique qualities including adhesion to flexible material such as plastics and high in stress resistance encouraging it to be utilized on various substrates. The adhesive is widely used in the construction industry enabling it to have a greater market share due to growth in the construction industry.
There is a change observed in the technological implications in consideration of Low VOC Adhesive market due to government regulations. It has a higher growth potential due to its properties such as ease of handling water-based adhesive and more efficient in their performance. Increased automaker regulations across the globe have contributed to an increased amount of Low VOC adhesive demand. The offerings are widely used among automotive upholstery, labeling and bookbinding methods enhancing its market share worldwide.
Transportation Segment Dominates The Usage Of Low VOC Adhesive In The Global Market:
The exponential growth of the transportation industry had stimulated demand for Low VOC adhesives market. There is a significant usage of these adhesives in the manufacturing of automobiles globally increasing the demand for these offerings in the market. Because of the regulations among automotive manufacturers to decrease their weight and improve performance the usage of adhesives had increased exponentially. Additionally, Low VOC adhesive has less weight with a considerable amount of bonding strength with various substrates that encourages its high usage in the transportation industry. Governments have imposed stringent policies among manufacturers of automotive directing them to improve air quality in indoor vehicles. Such implications had catalyzed the application of Low VOC adhesives among automobile manufacturers around the world.
Polyvinyl acetate emulsion is another segment under high demand for the global Low VOC adhesive market. This is a type of resins utilized widely as a synthetics because of its eco-friendly nature contributing to the demand increase of these segments globally. PVA has superior qualities supporting for application in various technological developments. Such versatile applicability in various manufacturing platforms is enhancing the market demand for Polyvinyl acetate emulsion offerings.
Asia Pacific region held a key share in Global Low VOC adhesives market in 2019:
The region has substantial growth in its economy due to the rise of new establishments in this region. Such growth of an economy is supporting the manufacturing companies that utilize Low VOC adhesive in their offerings. The region's growth is attributed to the countries including China, India, and Japan that are developing at a rapid rate. There are few global players interested in entering this region enabling potential growth of market developments among manufacturing companies. Due to such intensity of company establishments, there is an exponential rise in the application of Low VOC adhesives among organizations to offer different products. Several political transformations are supporting the growth of manufacturers that could be beneficial to increased market demand.
Moreover, governments are offering subsidies to manufacturers who are producing environmentally friendly products and services that are substantiating the growth of Low VOC adhesives in manufacturing activities. There are several opportunities present in this market such as collaborating with other companies to increase productivity and deliver niche offerings by using Low VOC adhesives. Such advantages in this region are not only boosting the economy but also meeting end-user requirements by using these adhesives. The market penetration rate is very high in this region for offerings eco-friendly adhesives that have high performance. Despite the presence in the substitute products to low VOC adhesive, the demand for this kind of adhesive is increasing at a rapid rate globally.
Key players operating in global Low VOC Adhesives market are H.B. Fuller, Henke, Dow, Sika, Bostik, 3M, Huntsman, Lord Corporation Wacker Chemie AG, Scigrip Adhesives Limited, Royal Adhesives amp; Sealants, Franklin International Dymax, Delo Industrial Adhesives LLC., The Reynolds Company among others.
Key segments of Low VOC Adhesives Market:
- Hot-melt adhesives
- Water-based adhesives
- Reactive & Other adhesives
By End-Use Industry:
- Building & construction
- Paper & packaging
- Vinyl acetate-ethylene (VAE)
- Ethylene-vinyl acetate (EVA)
- Epoxy • Polyvinyl acetate (PVA)
- Polyacrylic ester (PAE)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa