New York, United States , Feb. 08, 2024 (GLOBE NEWSWIRE) -- The Global Contact Adhesives Market Size is to Grow from USD 3.10 Billion in 2023 to USD 5.12 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.1% during the projected period.
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Contact adhesives are used to produce high-strength material bonding. The same material is also known as semi-structural adhesive. On the surfaces of both substrates that are intended to be joined, contact adhesives are equally applied. After the glue has dried from solvent evaporation, a little amount of pressure is applied, giving it a high initial strength. Due to the adhesives' quick drying times, it is quite challenging to separate the connected surfaces. As a result, before using adhesives, the materials must be arranged correctly on their surfaces. The adhesives can withstand abrupt variations in humidity, vibration, and temperature. Contact adhesives can be used to attach materials such as wood, paper and board, metal, glass, plastic, leather, ceramics, and fabric. The material's great strength, resistance to aging, heat, oils, and chemicals, as well as its rapid and simple adhesion, are what drive the contact adhesives industry. Technological advances, growing automotive demands, and changing corporate infrastructure are the other factors driving the global contact adhesive market. As more consumers become aware of adhesives' benefits, there will be opportunities for growth in the construction, automotive, leather & footwear, and woodworking industries. However, the growing use of steel and aluminum in the furniture industry will restrict the anticipated growth of the contact adhesives market. Restrictions imposed by organizations and the government can affect the market, as well as the manufacture and use of contact adhesives. In North America, environmental regulations are a crucial factor in managing the adhesives and sealants industry. These rules control the promotion and observation of products. There's a chance the market is saturated in some places, which would prevent further market growth.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Contact Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Type (Solvent-Based, Water-Based, Hot Melt, Reactive Contact, Solvent-Free, and Others), By Substrate (Wood-to-Wood, Plastic-to-Plastic, Metal-to-Metal, Multi-Substrate, Fabric-to-Fabric, and Others), By Application (Woodworking, Construction, Footwear and Leather, Automotive, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The water-based segment is anticipated to hold the largest share of the global contact adhesives market during the projected timeframe.
Based on the type, the global contact adhesives market is divided into solvent-based, water-based, hot melt, reactive contact, solvent-free, and others. Among these, the water-based segment is anticipated to hold the largest share of the global contact adhesives market during the projected timeframe. This is because plasticizers, fillers, solvents, deformers, and preservatives can be added to water-based adhesives to further compound them. Moreover, they usually incorporate water-soluble protecting colloids such as 2-hydroxyethyl cellulose ether or poly (vinyl alcohol). They withstand heat and cold well together and have minimal levels of toxicity, color, and odor. The instruments required to put them into practice are affordable and easy to use.
The wood-to-wood segment is anticipated to grow at the fastest pace in the global contact adhesives market during the projected timeframe.
Based on the substrate, the global contact adhesives market is divided into wood-to-wood, plastic-to-plastic, metal-to-metal, multi-substrate, fabric-to-fabric, and others. Among these, the wood-to-wood segment is anticipated to grow at the fastest pace in the global contact adhesives market during the projected timeframe. This is due to the growing need for adhesives in the furniture, cabinetry, and woodworking sectors is driving the growth of the wood-to-wood market sector, which has enormous development potential.
The construction segment is anticipated to grow at the greatest pace in the global contact adhesives market during the projected timeframe.
Based on the application, the global Contact Adhesives market is divided into woodworking, construction, footwear and leather, automotive, and others. Among these, the construction segment is anticipated to grow at the greatest pace in the global contact adhesives market during the projected timeframe. This is because contact adhesives are used in the building sector for bonding materials, decorative panels, and wall coverings in both indoor and outdoor settings.
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North America is anticipated to hold the largest share of the global contact adhesives market over the forecast period.
North America is anticipated to hold the largest share of the global contact adhesives market over the forecast period. The North American region now has the largest share of the global contact adhesive market due to various factors. The United States is now the largest market in the area for contact adhesives because of the growing demand in end-user industries including aerospace, automotive, packaging, and footwear. The aerospace, automotive, packaging, and footwear industries are the largest in the world relative to other countries, which contributes to the United States' dominant position in the area. Additionally, the country's residential building sector is expected to continue its good trend, which would increase demand for contact adhesives.
Asia Pacific is predicted to grow at the fastest pace in the global contact adhesives market during the projected timeframe. The Asia Pacific contact adhesive market is growing at the highest rate in the globe for a variety of reasons. The area's developing construction sector, increasing industrialization, and increased demand from the packaging and automotive industries have all contributed to considerable growth in the market for contact adhesives in recent years. The Asia Pacific contact adhesive market is being driven by the expansion of the automotive, leather, and footwear industries, as well as the rise of the housing and commercial sectors.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Contact Adhesives Market include 3M Company, Chemique Adhesives Inc., Henkel AG & Co. KGaA, Permabond LLC, H.B. Fuller Company, Mapei Corporation, Bostik, Sika AG, Jowat SE, Illinois Tool Works Inc, LORD Corporation, Avery Dennison Corporation, Pidilite Industries Ltd., Ashland Global Holdings Inc., Franklin International, and others
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Recent Developments
- In July 2023, Adhezion Biomedical, a privately held American medical adhesives firm with over 35 international certifications, 105 patents, and clients in 40 countries, was acquired by the H.B. Fuller firm.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Contact Adhesives Market based on the below-mentioned segments:
Global Contact Adhesives Market, By Type
- Solvent-Based
- Water-Based
- Hot Melt
- Reactive Contact
- Solvent-Free
- Others
Global Contact Adhesives Market, By Substrate
- Wood-to-Wood
- Plastic-to-Plastic
- Metal-to-Metal
- Multi-Substrate
- Fabric-to-Fabric
- Others
Global Contact Adhesives Market, By Application
- Woodworking
- Construction
- Footwear and Leather
- Automotive
- Others
Global Contact Adhesives Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Global Contact Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Type (Solvent-Based, Water-Based, Hot Melt, Reactive Contact, Solvent-Free, and Others), By Substrate (Wood-to-Wood, Plastic-to-Plastic, Metal-to-Metal, Multi-Substrate, Fabric-to-Fabric, and Others), By Application (Woodworking, Construction, Footwear and Leather, Automotive, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
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