Global Solvent-Free Adhesives Market Size (2023 - 2030)

The global solvent-free adhesives market size was valued at USD 19.8 billion in 2022 and is estimated to reach USD 30.85 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.7% during the forecast period. 

Market Overview: 

A substance that contains little or no solvent is known as solvent-free. When adhesives contain less than 5% solvent, it is called solvent-free adhesive. Solvent-free synthesis is a substitute method for solution-based synthesis. Paint, adhesives, hash oil, resins, and epoxy are substances that generally contain very little solvent.  Solvent-free epoxy resin is solid and does not contain any water or solvent as diluents. Solvent-free synthesis has diverse advantages over the classical traditional method of synthesis. It is a type of green chemistry where little or no solvents are used and is environment-friendly. A solvent-free adhesive has various advantages, such as fewer health risks and reduced safety requirements. It is eco-friendly and used in many industries to protect against and reduce corrosion and environmental pollution. There are some solvent-free anti-corrosion agents developed on mineral oil, which are used against corrosion. They are particularly effective for preserving iron or non-iron metals. Solvent-free epoxy resin coatings are used for damp proofing and color protection and can be used against a variety of chemicals and petroleum products. This coating is appropriate for inner linings, onshore & offshore buried tanks, and many other types of storage tanks. The increasing interest and awareness of environmental responsibility are resulting in evolving of new technologies in the adhesives industry. Solvent-free adhesives are becoming increasingly popular as they help to achieve sustainable goals and a greener future, user safety, and reduced environmental impact. 

COVID-19 Impact on the Solvent-free Adhesives Market: 

The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has stretched out around the globe at a very rapid pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-hit countries in terms of the number of positive cases and reported deaths. The COVID-19 outbreak has severely affected economies and industries in various countries due to lockdowns and business shutdowns. Extreme lockdowns dramatically impacted various industrial sectors such as packaging, which in turn, has indirectly impacted the solvent-free adhesive industry dynamics. The development is primarily due to the organizations rearranging and switching around their operations and recovering from the COVID-19 impact, which had earlier led to restrictive measures necessitating social distancing, remote working from home, and the shut-down of commercial activities that resulted in operational challenges. The increasing demand for pharmaceutical and ready-to-eat food products during the pandemic resulted in the growing consumption of shelf-ready packaging solutions. The above-mentioned factors, along with the slow ease of strict lockdown and other restrictions in several economies, helped the solvent-free adhesive industry regain traction over the forecast period. Major players in the market are focusing on maintaining and producing revenues to meet up customer expectations and requirements leading to an increased number of developments in the solvent-free adhesive market. 

Market Drivers: 

Increasing demand for solvent-free adhesives in tapes and labels is boosting the market growth: 

Adhesive tapes and labels are used in end-use industries such as packaging, masking, electrical & electronics, healthcare, automotive, paper & printing, building & construction, retail, and others. Such wide usage of adhesives makes it very popular and companies tend to move towards solvent-free adhesives as they are more eco-friendly. Thus, the rising applications of adhesive tapes and labels are predicted to drive the solvent-free adhesive market. The drift toward using flatter and micro-electronic devices increased the application of adhesive tapes in the electrical & electronics industry thereby increasing the demand for solvent-free adhesives.  

Huge expenditure in the adhesive industry in emerging economies is fostering market growth: 

Owing to varied factors involving rapid urbanization, increased demand for green building, and the increasing usage of solvent-free adhesives like acrylic dispersion adhesives in construction activities, the healthcare industry, and others to bond decorative floor coverings & ceramic tiles adhesives. Huge capital investments are made in the adhesive industry to meet up the rising demands of consumers and are likely to grow the market size in the forecast period. 

Increasing demand for e-commerce is bolstering the market size: 

Like the majority of the sectors, the solvent-free market is witnessing advantages due to technological advancements. The manufacturers & suppliers are increasingly taking on different online distribution channels like mobile apps, social media sites, etc., to boost their digital presence to a larger audience by providing a wide range of products through the online distribution channel. Customer convenience, easy and fast payments, and lower costs are some of the reasons for the growth of online sales and present immense benefits and opportunities for the industry. And with the growth of e-commerce, demand for quality adhesives with a variety of other qualities such as flexibility, and a more environmentally centered approach for parcels of all shapes and sizes rose. Hence, it shall further create a lucrative growth prospect for the global market over the coming years. 

Fewer product requirements along with fewer occupational safety requirements are boosting the market growth: 

The solvent-free adhesives do not need to be diluted and can be directly used for production, resulting in significant cost-cutting in the labor of the operating worker and also reducing the concentration of solvent in the air, which is desirable for both workers and the environment. Without the existence of solvent, it can avoid the potential hidden risks of fire. Also, in regards to occupational safety, solvent-free adhesives have fewer requirements since processing them does not involve the possibility of inhaling volatile organic compounds (VOC) emissions. 

Reduced health risk makes it a popular choice increasing its market size: 

The absence of volatile organic compounds indicates safer end products since fewer hazardous chemicals have been used in solvent-free adhesive systems. This is the major factor driving various organizations to adopt this adhesive type creating lucrative opportunities in the market. 

Market Restraints: 

The time-consuming working process may slow down the Solvent-free adhesives market growth: 

The slower drying time of the adhesive and its susceptibility to freeze at a comparatively lower temperature may be one of the major factors restraining the widespread use of the adhesive. Also, drying of this adhesive takes a lot of time which may cause a delay in the working process.  

SOLVENT-FREE ADHESIVES MARKET REPORT COVERAGE:

This research report on the Solvent-free Adhesives Market has been segmented and sub-segmented based on Resin Type, Application, Region, and Key Companies. 

Solvent-free Adhesives Market – By Resin Type. 

• Acrylic Polymer Emulsion (PAE) 
• Polyvinyl Acetate (PVA) Emulsion 
• Vinyl Acetate Ethylene (VAE) Emulsion 
• Styrene Butadiene (SB) Latex 
• Polyurethane Dispersion (PUD) 
• Other 

Acrylic polymer emulsion is an eco-friendly adhesive that creates an appropriate balance between the peel, tack, and sheer strength of the bond. It is highly preferred in a wide range of packaging applications, such as bookbinding, paper bags, cartons, foils, labels, films, automobile upholstery, and leather binding. It is also used to bond materials in the automotive industry, as it reduces vibrations in vehicle body panels. 

Solvent-free Adhesives Market – By Application. 

• Tapes & Labels 
• Paper & Packaging 
• Building & Construction 
• Woodworking 
• Automotive & Transportation 
• Others 

The demand for solvent-free adhesives in the tapes & labels application is extremely high due to their use in medium & heavy-duty carton sealing, gift wrapping and decoration, all-purpose repair, bundling and strapping, and stationery. Tapes & labels are mainly used in the packaging of electrical and electronic devices, medical packaging, packaging of delivery systems, packaging of construction materials, packaging related to automotive and logistics, and packaging of industrial goods. Thus, the packaging solvent-free adhesive tapes market is observing growth and is driving the demand for solvent-free adhesives. 

Solvent-free Adhesives Market – By Region. 

• North America 
• Asia-Pacific 
• Europe 
• South America 
• Middle-East and Africa 

The Asia-Pacific solvent-free adhesives market is segmented into China, Japan, India, South Korea, Thailand, Indonesia, Taiwan, and the Rest of the region. According to a report by the Population Reference Bureau, the fastest-growing consumer markets in APAC are China and India. The APAC countries have a combined population of almost 4 billion. This large population is predicted to become an exceedingly important driver for industries such as paper & packaging, building & construction, and automotive & transportation over the next two decades. Solvent-free adhesives have significant applications in these industries, which is estimated to result in the growth of the market in APAC. 

Solvent-free Adhesives Market – By Companies. 

1. Henkel 
2. H.B. Fuller 
3. Arkema (Bostik) 
4. Sika 
5. Dowdupont 
6. DIC 
7. 3M 
8. Illinois Tool Works 
9. Ashland 
10. Mapei 
11. Pidilite Industries 
12. Franklin International 
13. Huber Group 
14. Alfa International Corporation 
15. Ashland Inc. (US) 
16. Akzo Nobel N.V. (Netherlands) 
17. PPG Industries, Inc. (US) 
18. Evonik 
19. Avery Dennison Corporation 
20. Bayer Material Science 
21. Lord Corporation 
22. Scigrip Adhesives 
23. Ardex 
24. Permabond 
25. Paramelt 
26. Jowat 

Henkel holds the leading position in the solvent-free adhesive market with its wide range of contributions to solvent-free adhesive products. The company provides to the demand from almost all sectors and industries. It focuses and aims at both organic and inorganic growth to increase its overall production capacity, sales, and market share. This evolution helped the company expand its R&D capabilities for adhesives and provide innovative market-driven solutions to local customers of APAC. 

Recent Industry Developments: 

• In October 2020, H.B. Fuller acquired Royal Adhesives & Sealants (US). This provided the customers with a wider portfolio along with enlarged development and production capabilities. 
• In March 2019, H.B. Fuller increased its operations in India by opening an R&D center in Shirwal, Pune. The new R&D center aims on conducting experiments on solvent-free, anaerobic, and cyanoacrylate technologies.