Increase in usage of nonwoven adhesives in adhesive tapes & bandages, wound dressings, and plasters provides a great potential for market expansion in emerging and developed economies.
Portland, OR -- (SBWIRE) -- 06/26/2017 -- Global Nonwoven Adhesives Market report, published by Allied Market Research, forecasts that the global market is expected to garner $2,809 million by 2022, registering a CAGR of 9.9% during the period 2016-2022. The ethylene vinyl acetate segment dominated the market in 2015, with around half of the market volume share.
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Surge in demand for products that have powerful bonds delivery, excellent color stability, improved sustainability, and superior absorbent quality across various end user industries are the factors that drive the growth of the market. In addition, product innovation, low manufacturing cost, and waste minimization supplements the market growth. Traditional nonwoven adhesives are temperature sensitive, and thus soften at elevated temperatures. These adhesives cannot be applied on temperature-sensitive substrates at 375-450F, as they become susceptible to creep or joint movement at higher temperatures, which leads to bond failure and is the major restraint of the market. However, growth in usage of nonwoven adhesives in medical industry is expected to provide new opportunities.
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Nonwoven adhesives play a significant role in product transformation in hygiene industry, as these adhesive solutions are compatible with all application techniques and adhere to a range of porous and nonporous substrates. Variety of raw materials are available for production of these adhesives such as ethylene vinyl acetate (EVA), styrenic block copolymers (SBC), polyolefin (PO), polyamide, polyester, and polyurethane. These adhesive solutions provide ease of manufacturing, as they can be easily mixed, offer a broad temperature range for application, and set up fast. Their exposure to elevated temperatures results in bond failure, which can be prevented by cross-linking the polymer molecules after setting.
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Styrenic block copolymers (SBC) holds one-fourth of the market share, in terms of revenue, in 2015, and estimated to grow at a high CAGR of 10.5% as compared to the other types. The major reason behind higher growth rate of SBC is growing usage in the market owing to low cost and faster bond strength development.
Key Findings of the Nonwoven Adhesives Market
- Asia-Pacific is expected to continue to lead the market during the forecast period, followed by Europe.
- Styrenic block polymers market volume is projected to grow with a CAGR of 11.6% from 2016 to 2022, in terms of volume.
- Adult incontinence segment is projected to show the fastest growth with a CAGR of 10.2% between 2016 and 2022, in terms of revenue.
- Brazil accounted for half of the LAMEA nonwoven adhesives market in 2015.
- Indian nonwoven adhesives market is expected to grow at a high CAGR in Asia-Pacific, registering a CAGR of 10.9%.
- Germany and Italy accounted for around half of the European nonwoven adhesives market in 2015.
Asia-Pacific and Europe collectively contributed more than half of the share to the global nonwoven adhesives market revenue in 2015. In the same year, Asia-Pacific dominated the market, owing to high demand for disposable products hygiene industry.
The prominent market players are Henkel AG (Germany), H.B. Fuller (U.S.), Bostik SA (U.S.), Beardow Adams Ltd. (UK), Lohmann Koester GmbH & Co. Kg (Germany), Adtek Malaysia Sdn. Bhd. (Malaysia), Savar Specialty Adhesives (U.S.), The Dow Chemical Company (U.S.), 3M Corporation (U.S.), and Kraton Corporation (U.S.).