Contact Adhesive Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
Contact Adhesive Market size is expected to reach 7.70 US$ Bn by 2030, at a CAGR of 5.25% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Contact Adhesive Market Dynamics:
The contact adhesive market is driven by properties such as less cure time, strong bond, and better adhesion to a variety of substrates in contact adhesive products; while the said market is slowly shifting to water-based adhesives driven by the requirement of environmental compliance for various end-use industries. Technological advancements are also expected to fuel the demand for contact adhesives.
Segment Analysis:
The contact adhesive market based on resin type is segmented into neoprene, polyurethane, acrylic, SBC, and others. The neoprene segment is expected to be one of the major contributors to the market of contact adhesives because of its easy availability and wide adequacy in end-use industries.
Based on technology, the solvent-based segment is the most broadly-used technology in the formulation of contact adhesives as these adhesives possess unique characteristics, such as temperature, humidity, and discoloration resistance. But water-based adhesives are about to get demand in near future owing to stringent regulation enacted concerned with VOC emission.
The automotive segment in the end-use industry is expected to grow at the highest CAGR during the forecast period. Technological improvements in the automotive industry and growing demand for specialty contact adhesives are factors expected to drive market growth.
Regional Insights:
Geographically, Asia Pacific is expected to be one of the largest fastest-growing markets for contact adhesives. Cumulative use of contact adhesives in the automotive, woodworking, leather & footwear, and construction industries and high economic growth in manufacturing industries are expected to drive the growth in this region.
Contact Adhesive Industry Ecosystem
The objective of the report is to present a comprehensive analysis of the Global Contact Adhesive Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Contact Adhesive Market dynamics, structure by analyzing the market segments and projects the Global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global market make the report investor’s guide.
Contact Adhesive Market Scope: Inquire before buying
| Contact Adhesive Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 5.38 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 5.25% | Market Size in 2030: | US $ 7.70 Bn. |
| Segments Covered: | by Resin Type | Neoprene Polyurethane Acrylic SBC Others |
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| by Technology | Solvent-based Water-based Others |
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| by End-use Industry | Woodworking Automotive Construction Leather & footwear Others |
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Contact Adhesive Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
Contact Adhesive Market Key Players:
1. 3M Company (St. Paul, USA)
2. Henkel AG & Co. KGaA (Düsseldorf, Germany)
3. Sika AG (Baar, Switzerland)
4. Arkema S.A. (Colombes, France)
5. H.B. Fuller Company (Vadnais Heights, USA)
6. Dow Inc. (Midland, USA)
7. Avery Dennison Corporation (Glendale, USA)
8. Bostik SA (Colombes, France)
9. Royal Adhesives & Sealants (South Bend, USA)
10. Ashland Global Holdings Inc. (Wilmington, USA)
11. Illinois Tool Works Inc. (ITW) (Glenview, USA)
12. Franklin International (Columbus, USA)
13. Pidilite Industries Ltd. (Mumbai, India)
14. Huntsman Corporation (The Woodlands, USA)
15. LORD Corporation (Cary, USA)
16. Wacker Chemie AG (Munich, Germany)
17. Mapei S.p.A. (Milan, Italy)
18. Permabond LLC (Bridgewater, USA)
19. Master Bond Inc. (Hackensack, USA)
20. Kleiberit Adhesives (Weingarten, Germany)
FAQs:
1. Which region has the largest share in Global Contact Adhesive Market?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Contact Adhesive Market?
Ans: The Global market is growing at a CAGR of 5.25% during forecasting period 2023-2030.
3. What is scope of the Global Contact Adhesive market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Contact Adhesive market?
Ans: The important key players in the Global market are – Henkel (Germany), 3M (US), Bostik (France), H.B. Fuller (US), Illinois Tool Works (US), Sika (Switzerland), Pidilite Industries (India), Royal Adhesives & Sealants (US), Huntsman International (US), and Jubilant Industries (India)
5. What is the study period of this market?
Ans: The Global market is studied from 2018 to 2030.