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Global Contact Adhesives Market size is predicted to reach $4.1 billion by 2030, growing at a CAGR of 5.5% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The growing industrial applications of Contact Adhesives, particularly in sectors such as automotive, aerospace, and construction, along with their increasing adoption in high-performance and eco-friendly formulations, are expected to drive substantial market growth finds IndustryARC in its recent report, titled “Contact Adhesives Market – By Technology (Solvent-borne, Water-borne, Others), By Resin Type (Epoxy, Polyurethane (PUR), Acrylic, Plastisol, Fluoropolymer, Others), By End User (Wood Working, Automotive, Leather & Footwear, Construction, Packaging, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”.
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Asia Pacific to Register Highest Growth:
The Asia Pacific was the largest segment in 2023. This growth can be attributed to the high rate of production and consumption of Contact Adhesives in the region. According to Food and Agriculture Organization, China is the world’s leading producer of Contact Adhesives, producing around 1.56 million tonnes of raw Contact Adhesives in 2022 alone. Japan, South Korea and North Korea are also among the top 10 Contact Adhesives producers. However, the North American Contact Adhesives Market is projected to grow the fastest over the forecast period of 2024-2030, owing to the introduction of blight-resistant Contact Adhesives tree variants into the region.
Contact Adhesives Market 2024-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
5.5% |
|
Market Size in 2030 |
$4.1 billion |
|
Segments Covered |
By Technology, By Resin Type, By End User, and By Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. Henkel Adhesives Technologies India Private Limited 2. 3M 3. H.B. Fuller Company 4. Sika AG 5. Pidilite Industries Limited 6. Huntsman International LLC 7. Arkema S.A. (Bostik) 8. Loxeal Engineering Adhesive 9. Illinois Tool Works 10. Ashland Inc. |
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Contact Adhesives Market Report – Key Takeaways:
Growing building and construction industry
The properties of contact adhesives include resistance from thermal expansion, well resistance to corrosion, and weathering conditions, high cohesive strength, the high elastic modulus of a substrate, and environmental resistance especially from UV light, which makes it extensively useful for application in the building and construction industry. In building and construction, contact adhesives are used for carpet layment, countertop lamination, drywall lamination, roofing, wall coverings, and resilient flooring among others. Whereas, the growing trend of timber buildings in European countries like Germany and Norway and the robust growth in construction activities in the Middle East region including UAE, Qatar, and Saudi Arabia drives the growth of the contact adhesive share during the forecast period.
Implementation of Stringent Environment Regulations
Contact adhesives are used in various applications of construction, transportation, industrial, electronic, and consumer, among others. The growing environmental awareness among consumers and stringent environmental norms from developed and developing regions drive the demand for contact adhesives with low Volatile organic compounds (VOC) emitting material like water-borne adhesive. Governments globally are focusing on green practices to reduce the impacts of chemicals on human health and the environment. At present, Contact Adhesives are required to meet the inevitably strict environmental standards, as developing countries like China and India are updating instructions to control emissions which will further boost the adoption of Contact Adhesives.
Decreasing demand for diesel-based automobiles
The growth of electric vehicles is a good sign for the environment as well as for the global market growth. On the other side, the declining growth of diesel-based vehicles become a challenging factor for the growth of this market. In automotive, contact adhesive technology is used in car interiors and exteriors, improving the appearance, comfort, and safety of cars. However, the rising shift towards environment-friendly vehicles in developed and developing nations would hamper the growth of existing diesel engine vehicles and also impact the Contact Adhesives market over the forecast timeframe. Furthermore, due to stringent CO2 emission standards from Europe, North America, and the APAC region, the vehicle manufacturers shifting away from diesel technology in response to tighter NOX emission standards, which in turn hamper the growth of diesel-based vehicles.
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Key Opportunity Analysis:
Expansion in Automotive Applications:
The automotive industry is increasingly leveraging advanced Contact Adhesives to meet the growing demand for durable and reliable bonding solutions. With the shift towards lightweight materials and electric vehicles, there is a heightened need for adhesives that can withstand rigorous conditions such as extreme temperatures and vibrations. Innovations in adhesive technology that enhance bonding strength and flexibility are critical for applications like interior trim, exterior panels, and structural components. Manufacturers have the opportunity to develop specialized adhesives that cater to the automotive sector’s evolving needs, thereby positioning themselves as key players in this dynamic market segment. By focusing on performance enhancements and material compatibility, companies can capture a significant share of the automotive adhesive market.
Growth in Aerospace and Defense:
In the aerospace and defense sectors, Contact Adhesives are crucial for applications that demand exceptional performance under extreme conditions. Adhesives used in aircraft assembly, maintenance, and repair must exhibit superior strength, thermal stability, and resistance to environmental stressors. The increasing complexity of aerospace components and the demand for lightweight, high-performance materials drive the need for advanced adhesive solutions. There is a substantial opportunity for manufacturers to innovate with adhesives that offer enhanced durability, impact resistance, and reduced weight, addressing the specific requirements of aerospace and defense applications. As these industries prioritize safety and efficiency, developing cutting-edge adhesives can lead to significant market opportunities and establish strong industry partnerships.
Increased Use in Sustainable Construction:
The construction industry is undergoing a transformation towards sustainability, with a growing emphasis on eco-friendly building materials and practices. Contact Adhesives play a pivotal role in this shift by providing effective bonding solutions that minimize the use of harmful solvents and reduce overall environmental impact. There is a considerable opportunity for manufacturers to develop adhesives with low volatile organic compounds (VOCs) and high-performance characteristics that align with green building standards. Innovations in bio-based adhesives and those with improved environmental profiles can meet the rising demand for sustainable construction solutions. By addressing the industry’s focus on reducing carbon footprints and promoting green practices, companies can tap into a rapidly expanding segment of the construction market.
Advancements in Consumer Electronics:
The consumer electronics industry presents a burgeoning opportunity for Contact Adhesives due to the increasing complexity and miniaturization of electronic devices. Adhesives are essential for assembling components such as screens, batteries, and circuit boards, where precision and reliability are paramount. As technology advances, there is a demand for adhesives that offer superior performance in terms of adhesion strength, heat resistance, and electrical insulation. Manufacturers can capitalize on this trend by developing high-performance adhesives tailored for specific electronic applications, including smartphones, wearables, and smart home devices. Innovations that enhance the durability and functionality of electronics while meeting stringent safety and regulatory standards will be highly sought after, providing substantial growth potential in this high-tech market segment.
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The report also covers the following areas:
Contact Adhesives Market 2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in the Contact Adhesives Market:
The Global Contact Adhesives Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
Related Reports:
Engineering Adhesives Market: Increasing difficulties in the application process of the engineering adhesives are anticipated to create challenges for the growth of the engineering adhesives market in the projected period.
Specialty Adhesives Market: The increase in the demand from the medical industry, especially during the Covid-19 pandemic has led to a rise in the production and sales of specialty adhesives.
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