North America Contact Adhesives Market – Growth & Forecast (2024 – 2032)

Adhesives is a substance that is enforced on one surface or both surfaces in which two separate items that bind them together and curbs their separation. The various advantages of using adhesives includes, allows joint substrates with different geometries, sizes and composition in which adhesives can joint glass, plastics, metals, ceramics & others, strong flexibility in the product design, special adhesives prepared to conduct electricity or electrical insulator are usually used in the field of electronics, and others. 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.

North America Contact Adhesives Market Segments Size & Growth:

North America contact adhesives market size is projected to reach approximately $XX billion by the end of 2024 with a CAGR of close to XX% from $XX 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.

North America Contact Adhesives Market Segments Share:

North America 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 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, USA is projected to hold the largest share in the market during the forecast period because of the rise in some vehicles and expansion of the automotive industry is expected to boost the growth of the USA contact adhesives market. USA and Canada are anticipated to hold the largest share in the market due to the expansion of their economies and the increase in buying capacity, and the USA was estimated to be the largest market regarding consumption. The demand for contact adhesives is increasing in North America due to the rise in construction and repair & maintenance activities.

North America Contact Adhesives Market Trends:

• In March 2018, Huntsman Corporation has announced the acquisition of Demilec, from an affiliate of Sun Capital Partners, Inc.

North America Contact Adhesives Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

• 3M Company
• Arkema Group (Bostik Sa)
• Ashland Inc.
• B. Fuller Company
• Huntsman International Llc

Along with these companies, there were many other companies considered/cited in the report while analysing the North America contact adhesives market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.