The dispersion adhesives market comprises acrylic, vinyl acetate ethylene (VAE), polyvinyl acetate (PVAc), and other copolymers that offer strong adhesion through surface contact. Dispersion adhesives are primarily used in medical and hygiene applications, such as baby diapers, feminine care products, adult incontinence products, and wound care dressings, due to their moisture resistance, breathability, and hypoallergenic properties. They help bond nonwoven fabrics and films without generating unpleasant odors. The growing elderly population and rising incidence of chronic wounds are driving the consumption of medical adhesives. The Global dispersion adhesives market is estimated to be valued at US$ 9.81 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Dispersion Adhesives Market Growth are Smith & Nephew plc, Aranz Medical Limited, eKare Inc., and WoundMatrix Inc. Smith & Nephew plc is one of the leading companies in medical device and pharmaceutical industry and provides various wound care products including dispersion adhesives.
The demand for dispersion adhesives is projected to increase significantly due to rising application in baby diapers, adult incontinence products and feminine care products. According to United Nations Population Division data, over 703 million people were aged 65 years or over globally in 2019 which is expected to double to 1.5 billion in 2050. This rapid growth in elderly population will augment the demand for adult incontinence products and subsequent dispersion adhesives.
Manufacturers are focusing on developing new solvent-free and bio-based dispersion adhesives made from renewable resources like plant starches and proteins through advanced synthesis techniques to comply with stringent environmental regulations. Solvent-free dispersion adhesives help reduce VOCs emission drastically.
Market Trends
Water-based dispersions are gaining popularity over solvent-based variants owing to their lower hazards. Strict government regulations regarding VOC emissions are favoring water-based dispersion adhesive formulations.
Swellable adhesives that activate upon contact with water or other activating fluids are emerging as an innovative adhesive technology. They can dynamically change viscosity and adhesion strength in response to external stimuli.
Market Opportunities
Rise in healthcare spending in emerging economies of Asia Pacific will generate lucrative opportunities. There is also potential for dispersion adhesive usage in new application areas like construction, footwear and packaging industries.
Development of antimicrobial and antibacterial dispersion adhesives can further expand usage in medical sector for applications such as wound care dressings.
Impact of COVID-19 on Dispersion Adhesives Market Growth
The COVID-19 pandemic severely impacted the dispersion adhesives market growth globally. With travel restrictions imposed worldwide and economic slowdown, demand from various end-use industries including automotive, construction and footwear declined sharply. Supply chain disruptions further aggravated the situation resulting in reduced production volumes across different regions. However, with economic activities recovering gradually post lockdowns, demand is expected to bounce back supporting market growth over the coming years.
The pre-COVID scenario saw dispersion adhesives market growing steadily supported by their rising consumption in automotive and construction industries. However, the pandemic outbreak disrupted market momentum. With decline in new construction projects and automotive sales during peak pandemic periods, adhesive manufacturers faced challenging times. They had to optimize operations and focus on essential product categories to minimize losses.
Looking ahead, dispersion adhesives market is set to rebound backed by speedy vaccination drives and resumption of business activities. Manufacturers will need to strengthen supply chains and ramp up production capacities accordingly. Focus on industries like packaging and healthcare offering relatively stable demand even during crises would help regain lost ground. Investments in innovative product formulations catering to changing needs and stricter regulations will further aid market recovery in the post-COVID phase.
Geographical regions where dispersion adhesives market value is concentrated:
The Asia Pacific region accounts for a major share of the global dispersion adhesives market in terms of value. Within Asia Pacific, China holds the leading position owing to large production and consumption of dispersion adhesives driven by thriving end-use industries. Other countries like India and Japan are also prominent regional markets. Easy availability of raw materials and lower manufacturing costs give theAPAC region a competitive edge over others.
Fastest growing region for dispersion adhesives market:
The Middle East and Africa region is projected to witness the fastest growth in the dispersion adhesives market during the forecast period. Recovery of oil & gas industry along with government investments in infrastructure development are driving the adhesive demand. Countries such as Saudi Arabia, UAE and Qatar offer lucrative opportunities for market players looking to expand footprint in high potential emerging markets.
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