Dispersion Adhesives Market is Estimated to Witness High Growth Owing to Increasing Applications in Healthcare Sector
Dispersion adhesives are homogenous liquid mixtures that contain synthetic rubber latices which are dispersed in an aqueous medium. They are used to bond a wide variety of materials together including wood, paper, various foams, films, metals and other porous and non-porous substrates. Dispersion adhesives find various applications in construction, footwear, furniture and healthcare industries due to their quick setting time and water resistance. In healthcare dispersion adhesives are used to bond bandages, wound dressings, surgical drapes and tapes owing to their skin-friendly properties.
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 Size are Smith & Nephew plc, Aranz Medical Limited, eKare Inc., and WoundMatrix Inc.
The key opportunities in the market include increasing uptake of dispersion adhesives in wound care applications and growing healthcare infrastructure in developing nations.
Technological advancement like development of bio-based dispersion adhesives and nano-particle reinforced dispersion adhesives are further expected to drive their demand in healthcare applications.
Market drivers
Increasing incidence of chronic wounds, burns and surgical procedures are driving the demand of various wound care products that utilize dispersion adhesive technology for manufacturing. According to the National Health Interview Survey 2016, prevalence of chronic wounds in the United States was estimated to be over 6.5 million with annual treatment cost of over $28 billion. Rising healthcare expenditure per capita is also fueling the market growth.
Challenges in Dispersion Adhesives Market:
The dispersion adhesives market is facing various challenges due to stringent environmental regulations imposed by governments across the world. Regulatory bodies have formulated stricter norms to curb volatile organic compound (VOC) emissions from adhesives which is negatively impacting market growth. Another major challenge is dispersion adhesives have lower bonding strength when compared to solvent-based adhesives which is restricting broader applications. Formulators are engaged in developing new formulations with lower VOC content and superior bonding properties to address these challenges.
SWOT Analysis
Strength: Dispersion adhesives are environmental friendly due to low VOC emissions. They provide durable bonding on various porous and non-porous surfaces.
Weakness: Lower bonding strength than solvent-based adhesives. Higher raw material costs involved in production.
Opportunity: Growing demand from packaging and construction industries where bonding different substrates is important. New product development to replace solvent-based glues.
Threats: Stringent regulations regarding VOC emissions. Easy availability of substitutes like hot melt adhesives.
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