Market Trends of Low VOC Adhesive Industry
This section covers the major market trends shaping the Low VOC Adhesive Market according to our research experts:
Growing Demand from Paper and Packaging Industry
- The paper and packaging industry is estimated to hold the largest share of the overall low VOC adhesive market. The key reason of the growth is due to the extensive use of low VOC adhesives in various types of packaging such as case & carton, corrugated, food and beverage and flexible packaging.
- Also, the acceptance of low VOC adhesive in this industry is because of its easy clearance for food packaging from FDA and BGA agencies. Similarly, the hot-melt technology aids in attaining and maintaining similar performance in the high-speed packaging line.
- Growing demand for usage of ecofriendly compounds in packaging adhesives, on account of strict government regulations increases the manufacturing cost, which in turn is expected to restrain growth of the market. Furthermore, stringent government norms regarding environmental safety mandates emphasis on production of lower volatile organic compounds (VOC), which is anticipated to positively affect the market growth.
- Polyvinyl acetate (PVA) adhesives are extensively employed in the adhesive as a synthetic resin. PVA adhesives are environment friendly and offers properties such as waterborne nature, presence of less VOCs, and superior adhesion to different substrates. It has wide scope in packaging applications such as bookbinding, paper bags, cartons, labels, foils, film, paperboard decals, wood assembly, automobile upholstery, and leather binding.
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Asia Pacific Region to Dominate the Market
- One of the key factors that has been rapid growth of the packaging segment comprises growing e-commerce platform and increasing consumption with rise in income levels of the masses.
- China holds the largest packaging industry in the region. The country is projected to witness a consistent growth during the period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment, like ready to eat foods, snack foods, and frozen foods, etc.
- Emerging economies, such as China, India, and South Korea, and other Southeast Asian countries are attracting global players to establish their manufacturing bases in Asia Pacific. These players are competing to create an extensive customer base in countries such as China and India to cater to the rising demand for adhesives from various end-user industries.
- In the transportation end-user industry, low VOC adhesives are employed extensively in applications such as aircraft, aerospace and automotive. The need to reduce weight by deploying thinner gauge metal and plastics has created various opportunities for adhesives in bonding applications. The increasing government regulations pertaining to indoor air quality in passenger vehicles and stringent automotive OEM standards are boosting the regional demand in the transportation end-user industry.
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