Dispersion adhesives are water-based adhesive, which consists of solid adhesives dispersed in an aqueous phase. These adhesives forms bond through physical hardening, when the water evaporates. The bonding effect is offered by a polymer component, which forms a film when the aqueous component evaporates. Dispersion adhesives contain water soluble additives such as emulsifiers, surfactants, and protective colloids, which acts as a link between solid adhesive particle and the aqueous phase. The additives help in preventing adhesive particles from sticking together and separating during storage. Dispersion adhesives based on natural & synthetic rubber and vinyl acetate copolymers offer flexible bond lines and improved adhesion to plastic, rubber, leather, and metal compared to vinyl acetate adhesives. Dispersion adhesives are preferred for automated assembly of wide area of laminates consisting of water permeable substrates such as film or foil to paper and wood composites. Dispersion adhesives finds application in various industries such as wood processing, paper & packaging, graphics, automotive, footwear, textile, and electrical.

MARKET DYNAMICS

Dispersion adhesives offers various economic and environmental benefits. Dispersion adhesives can be applied easily by using brush, roller, in beads, or by spraying. Dispersion adhesives offer rigid to semi-rigid bond lines, which makes it suitable for bonding wood & wood products, cardboard, paper, and corrugated paper. These adhesives facilitate higher processing speed with low production costs. Moreover, dispersion adhesives are environment friendly, as they are water based and emits low VOCs (volatile organic compounds). Thus, various advantages offered by dispersion adhesives is expected to drive demand for dispersion adhesives, thereby expected to drive growth of the market over the forecast period.

Dispersion adhesives are used in furniture industry for bonding of wood and wood-based materials. The growth of the furniture industry is expected to drive demand for dispersion adhesives from the furniture industry over the forecast period. For instance, according to the British Furniture Confederation, U.K.’s total consumer expenditure on furniture and furnishings reached US$ 19.4 billion in 2018, a rise by 10.5% from 2017.

Major challenges for the growth of the market include fluctuating raw material prices and availability of these materials such as polyurethanes, polyvinyl acetate etc. Moreover, complex formulation of dispersion adhesives and high cost compared to solvent-based adhesives may result in slow market growth in countries, where VOC related regulations are relaxed or absent.

MARKET OUTLOOK

Among regions, Asia Pacific is expected to be the fastest-growing region in the dispersion adhesives market over the forecast period. Dispersion adhesives are used in automotive industry for interior, exterior and under the hood applications. Rising demand for dispersion adhesives, owing to growth of the automobile industry in the region is expected to drive demand for dispersion adhesives. For instance, according to the China Association of Automobile Manufacturers, over 27 million vehicles were sold in China in 2018. Moreover, according to the same source, the automobile market in China is expected to reach 30 million units by 2020 and 35 million units by 2025.

KEY PLAYERS

Major players operating in the dispersion adhesives market include Jowat SE, Kleiberit Klebstoffe GmbH, Weiss Chemie + Technik GmbH & Co. KG., Wacker Chemie AG, Cementos Capa SL, Master Bond Inc., Delo Industrial Adhesives, Kohesi Bond, 3M Company, and Permabond LLC.

Players operating in the market are focusing on various growth strategies such as product development, in order to expand their market presence. For instance, in July 2018, Jowat SE launched its new series of transparent food contact dispersion adhesives for packaging. The new series is characterized by high composite adhesion and improved technical properties of adhesives such as embossing strength and peel strength values.

MARKET TAXONOMY

On the basis of material type, the dispersion adhesives market is segmented into:

  • Polyvinyl Acetate
  • Vinyl Acetate Copolymers
  • Polyacrylates
  • Polyurethanes
  • Polyvinylidene Chloride
  • Rubber Latex
  • Others

On the basis of application, the dispersion adhesives market is segmented into:

  • Wood Processing & Furniture
  • Paper & Packaging
  • Automotive
  • Textile
  • Electrical
  • Footwear
  • Others

On the basis of region, the dispersion adhesives market is segmented into:

  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Russia
    • Rest of the Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • North Africa
    • Central Africa
    • South Africa
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