The global Low VOC adhesives market is projected to grow from USD 49.5 billion in 2021 to USD 63.3 billion by 2026, at a CAGR of 5.0% between 2021 and 2026. APAC is estimated to be the largest consumer of Low VOC adhesives. The global Low VOC adhesives market is driven by the growing demand for water based adhesives due to their flexibility, durability, and economic feasibility in manufacturing, paper & packaging industry.
Transportation is the fastest-growing segment of the overall Low VOC adhesives market. In the automotive industry, Low VOC adhesives help automotive manufacturers to reduce vehicle weight as well as offer additional stiffness and rigidity to the vehicle without affecting riding comfort. They also increase the longevity of the vehicle. Adhesives provide car manufacturers with the option of using thinner metal panels to build cars with lighter bodies which results in lower fuel consumption and reduced CO2 emission. The increasing need to bond different lightweight materials without compromising on bonding strength and reduction in CO2 emissions are expected to drive the growth of the low VOC adhesives market in the transportation end-use industry during the forecast period.
The key players operating in the market are Henkel (Germany), 3M (USA), H.B. Fuller (USA), Sika AG (Switzerland) and Bostik, a part of Arkema (France). These players have adopted various strategies, such as mergers & acquisition, investment & expansion, and new product launch to grow in the market.
