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(I-AutoNewsWire.com, November 01, 2021 ) The water-based adhesive market size is estimated atUSD 15.3billionin 2018 and is projected to reach USD 20.2billion by 2023, at a CAGR of 5.7%.This growth is attributed to the high demand for water-based adhesives from the tapes & labels, paper & packaging, and woodworking applications.
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The major players operating in the water-based adhesive market include Henkel (Germany), Arkema (Bostik) (France),H.B. Fuller (US), and Sika (Switzerland). The key growth strategies adopted by these companies include investment &expansion, merger &acquisition, partnership &collaboration, and new product launch.
Henkel holds the leadingposition in the water-based adhesive market. The company offers a wide range of water-based adhesive products for the automotive & transportation, building & construction, woodworking, electronics, and energy and utilities industries. It focuses on both organic and inorganic growth to increase its production capacity, sales, and market share. For instance, inJuly 2017, the company acquired Darex Packaging Technologies (US), a supplier of high-performance adhesives, sealants, and coatings for the metal packaging industry. With this acquisition, the company expanded its market position and strengthened its adhesive technologies business.
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H.B. Fuller is one of the key companiesin the water-based adhesive market due to its strong product portfolio and new product launches. The company offers water-based adhesives for various applications in the assembly, packaging, converting, nonwoven and hygiene, performance wood, flooring, textile, flexible packaging, graphic arts, envelope, transportation, electronics, medical, clean energy, appliance, heavy machinery, audio equipment, and automotive sectors. It acquired four companies, namely, Royal Adhesives and Sealant (US), Wisdom Worldwide Adhesives (US), Cyberbond (Germany), and Advanced Adhesives Pty (Australia), to strengthen its market position and enhance its technology portfolio. In October 2017, the company acquired Royal Adhesives & Sealants (US), which helped its customer with a broader product portfolio along with expanded development and production capabilities.
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