Global Contact Adhesives Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Contact adhesives have the advantage of high initial strength and are based on polymers that display the ability to bond to themselves as dry adhesive films. The surfaces to be bonded must be coated and the adhesive dried. The surfaces that are painted bond immediately on contact, so care needs to be taken in positioning the substrates.
Global Contact Adhesives Market Segments Size & Growth:
Global contact adhesives market size is projected to reach approximately $5.23 billion by the end of 2024 with a CAGR of close to 5.36% from $3.78 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include dynamic economic development in Asia-Pacific, advancing demand from automotive industry, increasing new construction activities, renovation and remodelling activities, rising growth in the emerging economies such as Asia-Pacific, Middle East & Africa, and South America. However, stringent environmental regulations regarding VOCs and increasing demand for steel and metal in manufacturing furniture are thereby hampering the market growth. Various opportunities for contact adhesives market include an increase in the export from the APAC countries demand low-VOC adhesives, rise in leather industry in India and China, and shifting focus towards water-based adhesives.
Global Contact Adhesives Market Segments Share:
Global contact adhesives market is categorised into technology which comprises of water-based, solvent-based, and others. The solvent-based adhesives segment is expected to hold the largest share in the market regarding both value and volume because they possess unique characteristics, such as
Global Contact Adhesives Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
temperature, humidity, and discolouration resistance. By type, the market is segmented into neoprene, polyurethane, acrylic, a styrene-butadiene copolymer (SBC), and others. Neoprene segment is projected to hold for the largest share of the market because of its natural availability and wide acceptability.
By End-Users, the market is segmented into woodworking, furniture, automotive, packaging, leather & footwear, consumer durables, construction, and others. The woodworking segment is anticipated to account for the largest share in the market. Contact adhesives are widely used in the woodworking industry because they can quickly bond wooden and porous substrates to improve performance and develop lightweight designs using multi-materials as there is an increasing focus on developing lightweight components to enhance aesthetic appeal. The automotive segment is projected to witness the highest growth rate during the forecast period, owing to technological advancements and rising demand for speciality contact adhesives.
By Geography, Asia-Pacific is projected to hold the largest share in the market during the forecast period because of increasing population, the rise in some vehicles and expansion of the automotive industry is expected to boost the growth of the Asia Pacific contact adhesives market. China and India are anticipated to hold the largest share in the market due to the
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Global Contact Adhesives Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
expansion of their economies and the increase in buying capacity, and China was estimated to be the largest market regarding consumption. The demand for contact adhesives is increasing in North America and Europe
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