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NEW YORK , May 4, 2022 /PRNewswire/ -- The low VOC adhesives market size stood at $47.6 billion in 2021, and it is expected to rise at a CAGR of 6.1% and reach $81.1 billion during 2021–2030. The major factor ascribing to the growth of the market is the implementation of strict regulations by governments to limit the VOC content in products, for environmental safety. Apart from this, the increasing awareness about the green and sustainable construction of buildings is driving the consumption of such bonding materials.
During the COVID-19 pandemic, the implementation of lockdowns hindered activities across industries and also affected the market, though the paper, packaging, and healthcare industries portrayed positive growth because of the rise in the volume of online orders and health problems. This offset a proportion of the adverse impact on the industry during the pandemic.
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Key Findings of Low-VOC Adhesives Market Report
The key players in the low-VOC adhesives market are 3M Company, Akzo Nobel N.V., Ashland Global Holdings Inc., H.B. Fuller Company, Huntsman Corporation, Henkel AG & Co. KGaA, Sika Services AG, Bostik, Pidilite Industries Ltd., PPG Industries Inc., and Wacker Chemie AG.
Browse detailed report on Low VOC Adhesives Market Trends, Business Strategies and Analysis Through 2030
The high penetration of online shopping in APAC is driven by the rising income levels and swelling consumption power of individuals, which, in turn, are leading to the increasing demand for low-VOC adhesives for packaging. A study by Facebook states that the average online spending in Southeast Asian countries augmented from $238 per person in 2020 to $381 per person in 2021. Additionally, the aerospace and automotive industries are the main consumers of low-VOC adhesives in the region.
Low-VOC Adhesives Market Size Breakdown by Segment
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