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Pulished Date March, 2021
ID: 11392
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Contact Adhesive Market - By Resin Type (Neoprene, Polyurethane, Acrylic, SBC), By Formulation Technology (Solvent-based, Water-based), By End-User (Woodworking, Leather & Footwear, Automotive, Construction) & By (North America, Latin America, Europe, APAC, MEA) - Global Industry Analysis on Size, Share, Trends, Growth & Forecast | 2021 to 2026

Pulished: March, 2021
ID: 11392
Pages: 175

Contact Adhesive Market Size, Share & Trends (2021 - 2026)

The global size of Contact Adhesive Market was valued at USD 6.87 Billion in 2021 and is expected to reach USD 9.97 Billion by 2026. The global Contact Adhesive market is projected to grow at a CAGR of over 5.47%, in value terms, during 2021 - 2026.

The increasing demand for contact adhesives across various industries is driving the global contact adhesives market. Growing renovation and remodeling activities, rising R&D activities by major players within the market, increased investment in chemical industries in the emerging economies, and an increase in government expenditure on infrastructure development are some factors, which will propel the demand for the contact adhesive market.

Contact adhesives have the ability to bond themselves as dry adhesives as they are polymer-based which have high initial strength. The high initial strength of contact adhesives will make them suitable for different laminating applications. Contact adhesives are often used to bond large areas of non-porous substrates because the adhesive is dried before bonding. The market is impacted by various factors. One of the main factors which improve the market is a rise in applications of adhesives and sealants.

Recent Developments

  • In February 2020, Henkel started functioning its new production facility in Kurkumbh, India, near Pune, Maharashtra. With a complete investment of about USD 59 million, the business unit aims to serve the increasing demand of Indian industries for high-performance solutions in sealants, adhesives, and surface treatment products.  The business aim is to serve the increasing demand of Indian industries with the total investment of USD 59 million that enhance the performance level. Designed as a smart factory, the new plant offers a good range of Industry 4.0 operations and meets the best standards for sustainability.

  • In November 2020, H.B. Fuller launched Full-Care 5885 to fulfil the industry’s increasing demand for natural-based hygiene products. This adhesive will provide 100% cotton binding at very low cost.

Contact Adhesive Market Drivers

The rise of the development industry and its activities is the primary factor driving contact adhesive market growth. The standard joining adhesives like soldering, riveting, welding, and screwing are being replaced by modern and next-generation adhesive systems. The hybrid adhesives were developed depending on alternative raw materials. As compared to the standard PUR construction and assembly adhesives, which contain classified ingredients, the COSMO HD-Adhesives offer alternative systems for users with a reliable consciousness for environmental issues. The increase of renovation activities is predicted to accelerate the economy of the contact adhesive market. The expansion of rehabilitation centers, residential construction activities, and remodeling markets has boosted the expansion of contact sealants. The low VOC adhesives offer very less to the no off-gassing. This feature is predicted to pave the way for various opportunities within the market. The formulations are designed to limit the number of chemicals released into the air when used. The Pidilite Industries formulated the Fevicol Eco fresh, the primary water-based adhesive for HVAC applications. The expansion in emerging countries like the Asia Pacific is anticipated to furnish market growth.

Contact Adhesive Market Restraints

The use of steel and metal in place of contact adhesives are the restraint factors that will alter contact adhesive market growth. Epoxy adhesives, a segment of metal glues, are the high-performance sealants that are implemented in carpentry. The mixture of resin and hardener creates a durable, high-strength bond that dries in minutes and might be used for rebuilding all metal and concrete surfaces. The challenges faced are the volatility in staple prices and also the stringent regulations issued by the environmental organization.

Opportunities in the Contact Adhesive Market

The stringent regulations by the USEPA (the United States Environmental Protection Association), Europe’s Registration, Evaluation, Authorization and Restrictions of Chemicals (REACH), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities have compelled adhesive & sealant manufacturers to create eco-friendly products with no- or low-VOC levels. The shift towards sustainable products has provided the manufacturers with better growth opportunities. There's a growing demand for environmentally-friendly or green buildings, which provides a chance for the development of green and sustainable adhesive solutions. Green adhesive solutions are made up of renewable, recycled, remanufactured, or biodegradable materials; they're environmentally friendly and supply health benefits to the occupants.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

9.97%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Bostik, Delo Industrial Adhesives, Huntsman International, Ashland Inc, Illinois Tool Works, Jubilant Industries, Lord Corporation, LLC, Hernon Manufacturing, Inc., Hexcel Corporation, Loxeal Engineering Adhesives, Dymax Corporation, H.B. Fuller, Henkel

Contact Adhesive Market

Contact Adhesive Market Segmentation

Contact Adhesive Market By Resin Type

  • Neoprene
  • Polyurethane 
  • Acrylic
  • Styrene Block Co Polymers

Based on Resin Type, the market is classified into Polyurethane, Neoprene, Acrylic, Styrene Block Copolymers (SBC). The Neoprene segment is predicted to account for the biggest market share within the forecast period. The factors may be credited for the smooth and broad acceptance within the end-use industries.

Contact Adhesive Market - By Formulation Technology

  • Solvent-based 
  • Water-based

Based on Formulation Technology, the market is segmented into Solvent-based and Water-based. The Solvent-based adhesives segment is anticipated to grow at the best CAGR during the anticipated duration. In terms of volume and mass, the solvent-based section is most commonly utilized in contact adhesives since the adhesives possess novel characteristics like temperature, humidity.

Contact Adhesive Market - By End-user 

  • Woodworking
  • Leather & Footwear 
  • Automotive
  • Construction

Based on Application, the market is classified into Woodworking, Automotive, Construction, Leather, and Footwear. The Woodworking Industry is predicted to account for the most considerable market revenue within the forecast period because of extensive usage of contact adhesives in the woodwork industry for tight binding between the wooden and porous substrates and to boost the performance of lightweight designs using multi-materials. There's an increased emphasis on developing lightweight components to boost aesthetic appeal.

Contact Adhesive Market - By Region

  • North America

  • Europe

  • Asia Pacific

  • Middle East & Africa

The Asia Pacific is predicted to grow at the fastest growing market within the forecast period. The expansion of automotive, woodworking, leather, and footwear, and construction industries is predicted to supply new avenues within the market. High economic growth, upcoming manufacturing industries, affordability of low-cost labor, and also the global change of production facilities from developed markets are the important factors boosting the market growth. North America is next to the Asia Pacific in holding the dominant shares of the market. The increasing economy and rising demand to develop quality products are leveling up the demand of the contact adhesive market in North America. Europe is projected to hit the highest CAGR in the coming years.

Impact of COVID-19 pandemic on Contact Adhesive Market

COVID-19 pandemic has posed many challenges for the automotive sector. Germany, the USA, UK, Italy, South Korea, Spain, and Japan are among the adversely affected major industrialized economies. As per a study by Boston Consulting Group, despite encouraging reports on progress toward a vaccine, numerous risks remain. It's projected that the sales in Europe and also the US won't rebound to pre-COVID levels until 2023 at the earliest.

COVID-19 has posed many challenges within the construction sector. Social distancing measures, supply chain disruptions, and workforce dislocation have led to the suspension of construction activities in most countries because of the disruptions in supply chains and lack of raw materials and labor. Construction companies with high debts and lower cash reserves faced a credit crunch. However, the development of temporary hospitals and quarantine centers increased with this outbreak of coronavirus.

Contact Adhesive Market Key Players:

  1. Bostik

  2. Delo Industrial Adhesives

  3. Huntsman International

  4. 3M Company

  5. Ashland Inc

  6. Illinois Tool Works

  7. Jubilant Industries

  8. Lord Corporation, LLC

  9. Hernon Manufacturing, Inc.

  10. Hexcel Corporation

  11. Loxeal Engineering Adhesives

  12. Dymax Corporation

  13. H.B. Fuller

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Contact Adhesive Market, By Resin Type                    

                             6.1.1 Neoprene

                             6.1.2 Polyurethane        

                             6.1.3 Acrylic      

                             6.1.4 Styrene Block Co Polymers             

                             6.1.5 Market Size Estimations & Forecasts (2021-2026) 

                             6.1.6 Y-o-Y Growth Rate Analysis            

                             6.1.7 Market Attractiveness Index          

              6.2 Contact Adhesive Market, By Formulation Technology                        

                             6.2.1 Solvent-based      

                             6.2.2 Water-based        

                             6.2.3 Market Size Estimations & Forecasts (2021-2026) 

                             6.2.4 Y-o-Y Growth Rate Analysis            

                             6.2.5 Market Attractiveness Index          

              6.3 Contact Adhesive Market, By End-User                       

                             6.3.1 Woodworking      

                             6.3.2 Leather & Footwear          

                             6.3.3 Automotive           

                             6.3.4 Construction         

                             6.3.5 Market Size Estimations & Forecasts (2021-2026) 

                             6.3.6 Y-o-Y Growth Rate Analysis            

                             6.3.7 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Resin Type       

                             7.2.3 By Formulation Technology           

                             7.2.4 By End-User          

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Resin Type       

                             7.3.3 By Formulation Technology           

                             7.3.4 By End-User          

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Resin Type       

                             7.4.3 By Formulation Technology           

                             7.4.4 By End-User          

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Resin Type       

                             7.5.3 By Formulation Technology           

                             7.5.4 By End-User          

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Resin Type       

                             7.6.3 By Formulation Technology           

                             7.6.4 By End-User          

8. Key Player Analysis                                

              8.1 Bostik                         

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Delo Industrial Adhesives                  

              8.3 Huntsman International                     

              8.4 3M Company                          

              8.5 Ashland Inc              

              8.6 Illinois Tool Works                

              8.7 Jubilant Industries                 

              8.8 Lord Corporation, LLC                         

              8.9 Hernon Manufacturing, Inc.              

              8.10 Hexcel Corporation                           

              8.11 Loxeal Engineering Adhesives                       

              8.12 Dymax Corporation                          

              8.13 H.B. Fuller               

              8.14 Henkel                     

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. North America Contact Adhesive Market By Resin Type, From 2021-2026 ( USD Billion )

  2. North America Neoprene Market By Region, From 2021-2026 ( USD Billion )

  3. North America Polyurethane  Market By Region, From 2021-2026 ( USD Billion )

  4. North America Acrylic Market By Region, From 2021-2026 ( USD Billion )

  5. North America Styrene Block Co Polymers Market By Region, From 2021-2026 ( USD Billion )

  6. North America Contact Adhesive Market By Formulation Technology, From 2021-2026 ( USD Billion )

  7. North America Solvent-based  Market By Region, From 2021-2026 ( USD Billion )

  8. North America Water-based Market By Region, From 2021-2026 ( USD Billion )

  9. North America Contact Adhesive Market By End-User, From 2021-2026 ( USD Billion )

  10. North America Woodworking Market By Region, From 2021-2026 ( USD Billion )

  11. North America Leather & Footwear  Market By Region, From 2021-2026 ( USD Billion )

  12. North America Automotive Market By Region, From 2021-2026 ( USD Billion )

  13. North America Construction Market By Region, From 2021-2026 ( USD Billion )

  14. United States Contact Adhesive Market By Resin Type, From 2021-2026 ( USD Billion )

  15. United States Contact Adhesive Market By Formulation Technology, From 2021-2026 ( USD Billion )

  16. United States Contact Adhesive Market By End-User, From 2021-2026 ( USD Billion )

  17. Canada Contact Adhesive Market By Resin Type, From 2021-2026 ( USD Billion )

  18. Canada Contact Adhesive Market By Formulation Technology, From 2021-2026 ( USD Billion )

  19. Canada Contact Adhesive Market By End-User, From 2021-2026 ( USD Billion )

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