Latex-based adhesives are mostly used to glue carpets and other flexible objects. Latex-based adhesives do not perform well in cold temperatures. Latex-based adhesives are used in a wide range of different industries. Latex-based adhesives are widely used in large quantity as bonding agents in the manufacture of paper products such as bags, milk cartons, drinking straws, envelopes, books, gummed tapes, multi-wall shipping bags, etc. Latex-based adhesives are widely used for attaching plastic ceiling and floor tiles to their respective substrates. They are also used for the bonding of expanded polystyrene beads in cavity-wall insulation.
Owing to the drift in trend of using adhesives instead of fasteners and welding processes, the adhesives market is anticipated to have major growth rates in the years to come. The demand for adhesives is increasing by the day because of the introduction of bio-based adhesives due to green revolution. These eco-friendly adhesives can also be used underwater thus, increasing the demand to face an upward trend. This demand for adhesives is likely to rise in the coming years owing to the introduction of various kinds of adhesives for different purposes and its acceptance all over the world.
The global adhesive market is presumed to be worth US$55.8 bn within the forecast period of 2017 to 2025 with a CAGR of 5.62%. Based on segmentation by product, the adhesives market is categorized into EVA, epoxy, rubber, polyester, poly vinyl acetate (PVA), acrylic and polyurethane.
Some of the Major players in the global adhesive market are Pidilite Industries Limited, Henkel AG & Company KGaA, and 3M Company. These players are strictly focused on inventing new products for consumers.