Asia-Pacific Wet Adhesive Market Size (2023 – 2030)

Asia-Pacific Wet Adhesive Market is estimated to be worth USD 21.8 Billion in 2022 and is projected to reach a value of USD 33.97 Billion by 2030, growing at a rapid CAGR of 5.7% during the forecast period 2023-2030.

An adhesive that is applied to a surface as a liquid or paste when dries to form a solid bond, is known as a wet adhesive. They are used in electronics, building, woodworking, and packing in addition to many other uses.

The Asia-Pacific wet adhesive market is rapidly developing because of the demand for packaged food and beverages, lightweight and fuel-efficient cars, and the region's expanding construction sector. The region is home to numerous important businesses, which makes the market particularly competitive. The packaging industry is the one that uses wet adhesives the most frequently, followed by the building and woodworking industries. The greatest market for wet adhesives in the region is China, which is then followed by India, Japan, South Korea, and Southeast Asia. 

Asia-Pacific Wet Adhesive Market Drivers:

Growing demand for packaged food and beverages is driving the market for wet adhesives in the Asia-Pacific region.

The rising demand for packaged foods and beverages is one of the main factors driving the Asia-Pacific wet adhesive market. Consumers are turning more frequently to packaged food and beverages as a result of rising disposable incomes and hectic lifestyles, yet adhesives are needed to keep the packaging secure. Due to their versatility in bonding materials including paper, metal, and plastic, wet adhesives are frequently employed in the packaging sector. Urbanization, altered dietary practices, and rising health consciousness all contribute to the Asia-Pacific region's rising packaged food and beverage demand. The need for wet adhesives in the region is being driven by this trend, which is anticipated to last for the foreseeable future.

The increasing adoption of lightweight and fuel-efficient vehicles is boosting market growth in the region.

The growth in popularity of lightweight and fuel-efficient cars has had a significant impact on the advancement of the Asia-Pacific wet adhesive market. In the automotive sector, wet adhesives are widely utilized to combine different materials, consisting of plastics, composites, and metals, which are used to lighten cars and escalate their fuel efficiency. Due to tightening pollution rules, rising fuel prices, and greater environmental awareness, there is an increase in demand for light and fuel-efficient cars throughout the Asia-Pacific area. Due to this pattern, which is predicted to persist for some time, wet adhesives are required in the area. The growing demand for wet goods is anticipated to be fuelled by the region's expanding car industry, notably in nations like China and Japan.

Asia-Pacific Wet Adhesive Market Challenges:

The fluctuation in raw material prices is one of the biggest issues the Asia-Pacific wet adhesive industry encounters. Wet adhesive raw materials including acrylic, polyurethane, and epoxy resins might experience price swings due to changes in supply and demand, geopolitical upheaval, and other circumstances. It might be challenging to maintain constant client rates because this can result in major cost swings for manufacturers. Natural disasters, traffic jams, and political unrest that disrupt the flow of raw materials can all have an additional negative influence on the manufacturing and supply of wet adhesives. To be competitive in the market, manufacturers must carefully manage their supply chains and pricing plans.

Asia-Pacific Wet Adhesive Market Opportunities:

The expanding construction industry in the region represents one of the key market potential opportunities for the Asia-Pacific wet adhesive segment. The construction sector regularly uses wet adhesives for panelling, insulation, roofing, and flooring. Due to the region's growing demand for infrastructure, commercial buildings, and housing, wet adhesive demand is anticipated to increase over the forecasted years. Furthermore, new opportunities for the application of wet adhesives in the construction sector are anticipated as a result of the growing emphasis on environmentally and energy-efficient structures. 

COVID-19 Impact on Asia-Pacific Wet Adhesive Market:

The pandemic's effects on the manufacturing system and supply chain have led to a shortage of raw materials and finished items. The resultant higher prices and longer lead times had a considerable negative influence on the market's growth. The pandemic resulted in a fall in demand for a number of end-use industries, including the aerospace and automotive industries. Additionally, the pandemic had a positive impact on the packaging supply market because of the rise of e-commerce and home delivery services. This has led to a rise in demand for wet adhesives used in the packaging industry, which assisted in attenuating the negative impacts of the pandemic. The pandemic also highlighted the importance of hygiene and unhygienic environments, increasing the demand for wet adhesives used in medical and hygienic settings.

Asia-Pacific Wet Adhesive Market Recent Developments:

• In August 2022, Ashland Global Holdings Inc. formally became "Ashland Inc.". The measure is part of a larger strategy to simplify the legal corporate structure of the company. The business itself will eventually merge with Ashland LLC and its direct parent, Ashland Chemco Inc. The name change is subject to fulfilling all the legal requirements.

ASIA-PACIFIC WET ADHESIVE  MARKET REPORT COVERAGE:

Asia-Pacific Wet Adhesive Market Segmentation:

Asia-Pacific Wet Adhesive Market Segmentation: By Technology

• Water-Borne
• Solvent-Borne
• Reactive
• Hot Melts
• Others

By technology, the Asia-Pacific wet adhesive market can be divided into hot melts, reactive, water-borne, solvent-borne, and other categories. The most popular technology is water-borne adhesives because of their minimal VOC emissions and environmental friendliness. High bonding strength and quick cure times are offered by solvent-borne adhesives, however, they are being phased out because of environmental concerns. Reactive adhesives are ideal for demanding applications in the construction, automotive, and aerospace industries because they provide great bonding strength and durability. Due to their quick setting time and powerful bonding, hot melts are frequently utilized in the packaging sector. UV-cured adhesives, pressure-sensitive adhesives, and other adhesives are included in the "others" sector. Due to the growing demand for ecologically friendly products, the water-borne sector is anticipated to account for the highest share of the market.

Asia-Pacific Wet Adhesive Market Segmentation: By End-User

• Building and Construction
• Paper, Board, and Packaging
• Footwear
• Healthcare
• Electronics
• Others

By end-user, the Asia-Pacific wet adhesive market can be divided into construction and building, paper, board, and packaging, footwear, medical care, electronics, and other sectors. Wet adhesives are most commonly used in the building and construction industry since they are used in things like flooring, roofing, and insulation. The growing demand for environmentally friendly and sustainable packaging materials has had a substantial impact on the paper, board, and packaging market. The rising demand for sports shoes and leather goods will cause the footwear segment to expand. Due to the rising need for medical adhesives used in surgical operations, transdermal medication delivery systems, and wound care, the healthcare sector is predicted to expand rapidly. Due to the growing demand for adhesives used in electronic components and assembly, the electronics sector is also anticipated to expand at a high rate during the forecast period.

Asia-Pacific Wet Adhesive Market Segmentation: By Region

• China
• Japan
• India
• Rest of Asia-Pacific

Wet adhesives are anticipated to have the highest market share in China due to the country's rising demand in sectors including packaging, building, and automobiles. Sustainable growth should result from Japan's focus on technological advancements and eco-friendly goods. Due to the increasing need in sectors like healthcare, construction, and paper & packaging, India is predicted to rise quickly. Wet adhesive demand is estimated to rise in a number of sectors, including textile, automotive, and construction, which will lead to growth throughout the rest of Asia-Pacific. The demand for environmentally friendly and sustainable products, as well as the expanding industrialization and urbanization of the Asia-Pacific region, are predicted to drive growth in the market share for wet adhesives throughout the course of the projected period. 

Asia-Pacific Wet Adhesive Market Key Players:

1. 3m co.
2. Adhesives research Inc.
3. Arkema group
4. Ashland Inc.
5. Avery dennison corp.
6. Benson polymers ltd.
7. Delo industrial adhesives
8. Dow chemical co.
9. H.b. fuller co.
10. Franklin guangzhou adhesives company ltd
11. Hexion